Insurtech funding increased nearly 38% from Q4 2022 to Q1 2023, from about $1 billion to about $1.4 billion, according to a new analysis released by Gallagher Re.
The U.S. leads France and the UK as the nation funding the most insurtechs. India and Germany round out the top five countries.
The definition of insurtech is important, according to Dr. Andrew Johnston, global head of insurtech and the author of Gallagher Re’s Q1 2023 Global InsurTech Report. Because the overall use of the term tends to be vague and overarching, the numbers captured will vary.
