Global insurtech investment reached a record $7.1 billion in 2020 despite substantial challenges to the re/insurance sector, according to a new report by Willis Towers Watson.
A total of 377 deals were completed throughout the year, the most in any year to date, while overall funding was up 12% from 2019. Deal volume increased 20%.
Fourth quarter capital raises in excess of $100 million by later-stage companies Hippo, Unqork, Waterdrop, Oscar Health, Bind Benefits, and Newfront Insurance totalled $1.1 billion, as early-stage deals declined to 47% of the total from 57% in the previous quarter.
