Insurtech transactions hit global record

September 24 2018 by InsuranceAsia News Staff

Insurtech transactions hit a record high in the second quarter of this year, with 71 deals globally, although the total investment value of US$579 million was down 20% from the previous quarter, according to a report released by Willis Towers Watson.

The report, Quarterly InsurTech Briefing, focuses on the life and health insurance sectors.

The second quarter also set a new record for the volume of incumbent participation in insurtech investments.

The briefing, produced in collaboration with CB Insights, focuses on three key areas of life-and-health value chain disruption: data, customer and product.

The report said insurtech companies are now developing tools to harness new forms of underwriting data, which are expanding exponentially due to the proliferation of wearable sensors.

The potential impact, according to Willis Towers Watson, is “substantially more profound”.

MORE FROM: Technology