By CB Insights
After a decade of digital strides, the insurtech industry is maturing and driving innovation across many insurance sectors. COVID-19 has put investor optimism and consumer confidence on pause, and (re)insurers are facing a deluge of unprecedented issues to deal with in the short term. Some key findings from the Q1 of 2020 are:
Globally, insurtech companies raised $912M across 96 deals in Q1’20, representing a 54% quarter-on-quarter plunge in total funding.
The majority of Q1’20’s deals and dollars were captured at the beginning of the quarter, with nearly $82M raised by January 3 and more than $450M a mere month later. But it took until the end of March — the rest of the quarter — to double that amount as the coronavirus pandemic swept the globe.
In short, the first 3 days of Q1’20 saw almost the same amount of money raised as the last 3 weeks of the quarter.
Download the full report here.