March 25, 2017
InsurTech is a relatively new industry. However, it’s developing quite fast and becoming one of the most booming verticals in the FinTech space. First of all, don’t pay too much attention to the 34% drop in the InsurTech market in 2016; it actually grew up by 25% considering the number of deals. The year 2015 showed an abnormal rise in the InsurTech market, which was mainly driven by Chinese large and extra-large deals, including $1B USD invested into the world’s largest InsurTech startup Zhong An.
Today, the market consists of about 1400 InsurTech companies; however, the launching tendency is decreasing. While in 2015, almost 300 companies were launched; in 2016, we see a 40% decrease in this number (about 180 new startups). In 2015, the pike was mainly because of a largest in InsurTech history Chinese deal – Zhong An, that made almost 40% of the whole year’s funding amount. However, the number of investment deals continue to stately grow and 2016 showed 25% Y0Y increase: 54 deals in 2014, 125 in 2015 and 157 in 2016.