Europe saw the highest growth in insurtech investment in 2021, with three mega-deals (Wefox, Bought by Many and Alan) with a combined value of US$1.2bn.
This is among the findings of NTT Data’s 2022 Insurtech Global Outlook Report, which shows the US still ahead of the rest of the pack in terms of volume of investment accumulated in 2021. This included five mega deals: Collective Health, Extend, BitSight, Next Insurance and Ethos, the collective value of which was US$1.2bn.
The report further highlights that fintech is seeing much slower and more sustained growth than insurtech, with the average time from foundation to IPO eleven and seven years respectively.
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