US, UK and France continued to take lion’s share of global InsurTech funding in 2024

The Connected Podcast: InsurTech Insights The Connected Podcast: InsurTech Insights In this segment of The Connected Podcast, we delve into the intricate dynamics of the global InsurTech landscape as we head into 2024. With attention to detail, we spotlight a noteworthy downturn in investment activities within the sector.   Our analysis unveils a striking 47% drop in global InsurTech deals on a year-over-year basis, with total funding plummeting to $5 billion. This marks a substantial 35% decline from the previous year and an eye-catching 64% decrease from its apex in 2020.   Despite these challenges, the United States, United Kingdom, and France continue to be frontrunners in funding rounds, together accounting for 60% of all deals, though each nation faces its own decline.   The U.S. maintains its dominance, but the number of transactions has dwindled from 235 to 137. Meanwhile, the UK has seen a reduction from 52 to 24 deals, and France has witnessed a decrease from 27 to 16 deals.   In the midst of this challenging environment, Akur8 emerges as a beacon with a remarkable $120 million Series C funding round. This highlights its potential as a leading machine learning platform for insurance pricing. Investors are moving towards more mature, high-value opportunities, reflecting a careful and selective approach in response to macroeconomic and regulatory uncertainties.   While the market remains subdued, attention is increasingly shifting towards initiatives that promise resilience and significant impact within the evolving InsurTech ecosystem.  Links:US, UK and France continued to take lion’s share of global InsurTech funding in 2024Curator’s Corner