InsurTech Funding Hits $2.5 Billion in Q3
Willis Towers Watson (WTW) reported that InsurTech firms raised a total of $2.5 billion across 104 deals during the third quarter of 2020. The total value raised was 63 percent higher than in the previous quarter, while the number of deals increased by 41 percent, according to the new Quarterly InsurTech Briefing. WTW observed solid investor appetite for both new and mature opportunities in the InsurTech sector.
Early-stage deal share grew to 57 percent, bolstered by property and casualty startups, and more than half of InsurTechs with a Q3 Series A round were raising capital for the first time, raising on average $10.9 million. WTW also found that property and casualty sector investments predominated in Q3, but the share of life and health sector investments still rose three points to 30 percent.