InsurTech funding is soaring, based largely on the entrance of a new benefactor that's reshaping the traditional insurance landscape. (Shutterstock)
Reinsurers have historically shied away from participating in primary insurance, but are currently spearheading the charge and redefining the lines of what qualifies as an insurance carrier.
Consider that a report by JLT Re and CB Insights highlights how reinsurer investment in InsurTech has grown from a meager 5% of deals in 2012 to over 55% as of 2016. Moreover, reinsurers contributed the most to InsurTech investment in Q4 2017, according to Willis Towers Watson.
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