Global InsurTech market sees funding slowdown, but positive trends emerge

This is the second consecutive quarter of decline and reflects the current economic climate and the cooling of the InsurTech investment bubble.

Despite the funding slowdown, there were some positive trends in the InsurTech market in Q2. For example, there was a growing focus on sustainability, with several InsurTechs developing products and services that address climate change and other environmental challenges.

Additionally, there was an increased emphasis on partnerships between InsurTechs and traditional insurers as both sides looked to capitalise on the opportunities presented by digitalisation.

The report also found that InsurTechs focused on clear commercial outcomes are gaining more traction than those simply offering technology solutions. This is a sign that the InsurTech market is maturing and that investors are looking for InsurTechs that can deliver real value to customers and insurers.

Overall, the Q2 2023 Global InsurTech Report shows that the InsurTech market is still growing, albeit slower. The report also suggests that the market is maturing, focusing on sustainability, partnerships, and commercial outcomes.