New funding for the global insurtech sector rose to $1.39 billion during the first quarter of 2023, according to a new report from Gallagher Re.
That’s up from $1.01 billion in the fourth quarter of 2022, the lowest quarterly total since Q1 2020.
Average deal size rose 25.3% in the first quarter of 2023, although deal count held steady, according to Gallagher Re’s latest Global InsurTech Report. Mega-round funding accounted for only 12.9% of the total, the lowest level since Q1 2020.
