11 Key Recommendations from Insurtech UK for Policymakers
Insurtech UK has released a roadmap with recommendations for policymakers to maintain and enhance the UK’s leadership in insurance innovation
InsurTech Sector
Insurtech sector are likely to continue automating and digitizing processes, on underwriting, claims processing and policy management. They are also likely to continue leveraging data and analytics to better understand customer needs and risks, and to develop more personalized and targeted insurance products.
The global insurtech sectoris expected to grow at a compound annual growth rate of 52.7% from 2023 to 2030 to reach USD 152.43 bn by 2030.
The application of emerging technologies like artificial intelligence, machine learning, analytics, wearables and more, has enabled insurtechs to be years ahead of traditional insurers in many ways—including the ability to provide automated, digital solutions to end-users, more accurate pricing and underwriting.
In this section, we have collected the most current articles and reviews on the topic of the InsurTech Sector.
Global InsurTech Funding in Q1 2024: Role of AI in Insurance
Global InsurTech funding fell to USD912.25 million in Q1’2024, the lowest since Q1’2020. The industry saw no quarterly USD100 million+ mega-round deals
Why Insurers Go to Online Insurance, Telematics & Artificial Intelligence?
Though the stock market is still driven by enthusiasm for artificial intelligence, businesses devoted to insurtech, or the revolution of insurance through technology
UK InsurTech Sector: What is the Key Success UK Startups?
The United Kingdom is positioned as a global leader in the field of insurtech. A flourishing ecosystem of start-ups, investors, and incumbents is working together
Global InsurTech Investment Trends. Top 20 InsurTech Investors
2023 was a truly global year for InsurTech investing with 1,528 international investors participating in 521 deals, raising a total of almost $8 billion
Global InsurTech Data Highlights: VC Investments, Deal Size & Funding
According to Global InsurTech Report, 2024 began with a lot of uncertainty, with a number of macro factors impacting venture capital & InsurTech
InsurTech Has Failed to Disrupt the Insurance Industry
The idea that the centuries-old insurance industry is ripe for disruption by new technology has been pulling in investors and entrepreneurs for years
InsurTech Sector Overview: Global Investment Recovers
Investment in the insurtech space increased by 8.3% from the opening quarter of the year to $2.41 billion
How InsurTech & FinTech Leaders Avoid Burnout & Overwhelm?
Insurance is a stressful game, especially if you’re in a leadership role. It’s unlikely that as a insurtech founder, you’re adverse to challenges, setbacks, or obstacles
InsurTech Outlook: Moving from Infrastructure Investment to Value
Insurers have frequently taken a piecemeal approach to technology modernization, transforming system by system, function by function, and app by app
InsurTech Valuations Becomes Realistic, Startups Looking for M&A
Insurtech companies have been among the biggest victims of the public market sell-off, especially those that went public in 2021
10 Biggest US-based InsurTech Funding Rounds
Big funding rounds in InsurTech Sector seemed to slow down, as only one U.S.-based startup saw a round of more than a $250 mn
Since the war began, global reinsurers have bundled risks from Ukraine, Russia, and Belarus, excluding them from reinsurance contracts. This has reduced available capital and hindered economic stability
4 years after the pandemic began in 2020, many countries still report higher death rates. For Life and Health (L&H) insurance, this poses a challenge
The positive reinsurance market outlook comes from de-risking as much as pricing with changes in terms and conditions, rising attachment points and tightening of wording
ILS market remains a significant capital source for reinsurers in 2024. Alternative capital estemated at $110 bn, with the catastrophe bond market growing to $45 bn