May 27, 2019 09:30
Photo : Freepik
The investments in the assurtechs have smashed new records in the first quarter of 2019, according to a report from the research firm Willis Towers Watson. The first three months of the year have seen the highest number of transactions in connection with the assurtechs in the property and casualty insurance and the largest volume of investment rounds of series B and C.
The report, which lists the transactions in the world of assurtechs each quarter, a total of 85 agreements, or an increase of 35 % compared to the previous quarter. Of this number, 54 per cent of transactions are concluded outside of the United States.
The total value of these transactions amounted to 1.42 billion u.s. dollars (G$ US). This is the third consecutive quarter to make investments of over a billion dollars. The total funding has fallen by 11% compared to the fourth quarter of 2018.
“It is increasingly difficult to rationalize the hype around assurtechs, which are full of hope. One could argue that these companies take advantage of the phenomenon of novelty. We find that many of these assurtechs are already adding real value to the insurance industry. We remain, however, pragmatic on the sectors in which this value can be applied “, explains Andrew Johnston, head of the sector assurtech at Willis Re.