Global investment in insurance technology firms totalled $2.41 billion in the second quarter, down 50% from a year earlier, as investors grew nervous about frothy valuations, broker Gallagher Re said in a report on Thursday.
Insurtech firms make up around 10% of the fintech sector and have seen several successful fundraisings in recent years. German digital insurance startup Wefox last month said it had raised $400 million from investors, valuing the business at $4.5 billion.
