The $2.2 billion raised in the first half of 2019 is already the fourth-highest amount ever, trailing last year's total by only $400 million, says Deloitte's "Accelerating Insurance Innovation in the Age of InsurTech.'
While there may be fewer InsurTech startups entering the market this year than in years past, investments in the space are on pace to hit record highs. That's according to the latest report from Deloitte, "Accelerating Insurance Innovation in the Age of InsurTech."
According to the report, InsurTechs raised $2.2 billion in the first half of 2019, the fourth-highest amount ever, and just $400 million less than last year's total. And with a few months left in the year, InsurTechs are expected to pass the record set in 2015 when $3 billion was invested into the sector. Most recently, in October, Next Insurance, an online small business insurer, raised $250 million in a Series C financing round from Munich Re, illustrating that InsurTechs continue to be a hot ticket market.
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Heather A. Turner
Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].
