Global investment in insurtech breached $15.8bn in 2021, according to Gallagher Re’s Global Insurtech Report.
The figure, said Gallagher Re, was the highest on record and more than 2019 and 2020 combined.
The firm said that over the course of 2021, some $9.4bn was invested into Property & Casualty InsurTechs, with the balance of $6.4bn – about 40.5% of the total, following a huge uptick in Q4 – directed into Life & Health companies. The rise in total funding in the final quarter of last year was driven by 13 ‘mega-round’ deals. They accounted for 71% of the $5.3bn invested during that period. Alongside these, 2021 Q4 was also – until the most recent first quarter of 2022 – the largest-ever for Seed, Angel, and Series A funding rounds, which totalled $635m.