Record influx of funds for insurtech sector

There were 170 insurtech funding rounds in the first half of 2020, an increase of 314% over the last six years.

In its, “Insurtech M&A Market Report”, consultant Hampleton Partners said the total number of deals for the year so far had now hit 274. The value of funding rounds has also increased, growing from £415m in the first half of 2014 to £2.6bn in the second half of 2019.

The report forecasts a record 95 or more M&A deals in 2020, with 48 already banked in the first half of the year. It said volume has more than doubled since the year 2013, which saw 46 insurtech transactions.

Miro Parizek, founder, Hampleton Partners, said: “Private equity firms are keen to invest in tech companies serving the insurance industry, targeting solutions focused on customer experience through to digital transformation solutions for carriers."

Revenue in the insurtech market is expected to reach £7.5bn by 2025. There is no doubt that the M&A, fundraising and partnership activity unfolding at present will continue to thrive as players compete for a piece of this pie in an increasingly digital world.”

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