Investment in Insurtech is Growing
The Power of Strong Financial Reporting as Insurtech Startups Mature
Only a few years ago, InsurTech occupied a small corner in the FinTech sector, but thanks to the growth of digital technology and the rapid pace of innovation, it has blossomed into a thriving industry. Indeed, the InsurTech sector saw the arrival of its firs private company with a billion-dollar valuation, an online auto insurer that through telematics allows applicants to link their premium to their driving performance.
Investor interest in InsurTech today is strong. A recent report by the Deloitte Center for Financial Services noted investment in the sector reached $870 million through the first half of 2018, putting it on pace to at least meet the $1.82 billion raised last year, which was the industry’s second-highest level of financing.