Sixty-three insurtech deals, with a total value of US$1.58 billion, were announced worldwide in the fourth quarter of 2018, according to new data from Willis Towers Watson. That’s 24% more deals, and 155% more value than in Q4 of 2017, according to the advisory and broking company’s Quarterly InsurTech Briefing. The total includes all-stage investments in property-casualty and life and health ventures, and is the second-highest quarterly total ever.
The number of strategic insurtech investments by reinsurers in Q4 fell by 6% from its peak in the second quarter, but funding increased significantly, according to Willis Towers Watson. Eleven insurance-sector investors spent US$218 million on insurtechs in Q4, up 230% from Q3. The global industry currently maintains 31 strategic partnerships with technology companies, the highest number recorded.
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