Are brokers bucking the trend of insurtech investment struggles?
According to a new Gallagher Re report, global insurtech investment fell in the fourth quarter of 2022 to its lowest level since the third quarter of 2020. Sophie Locke-Cooper details why some may be struggling even if there are signs of hope among broker insurtechs.
In broker Gallagher Re’s report, it stated that investment declined 57% from the third quarter of 2022. More specifically the UK experienced a deal share decrease from 2.48% to 0.96%.
57%In broker Gallagher Re's report, it stated that investment declined 57% from the third quarter of 2022
These stark figures could be seen as a sign that the insurtech bubble has burst or is at least deflating. A trend that perhaps could be supported by the news last year that insurtech motor
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