Europe turns into key insurtech hub
Saturday, 03 24 2018, Category: Technology, Country: Europe
Global investment in insurance technology surged in 2017, with Europe emerging as a new insurtech hub outside the US, according to new research from advisory firm Accenture.
The number of insurtech deals increased 39 percent globally in 2017, with the total value of deals up 32 percent, to $2.3 billion, according to the report titled “Fearless Innovation: Insurtech as the Catalyst for Change Within Insurance.”
While North America still leads in terms of both the total value and number of deals – accounting for $1.24 billion, or 46 percent of deals last year – the number of deals there grew only 6 percent in 2017. In Europe, however, the number of deals increased 118 percent, accounting for one-third of all insurtech deals globally, and the total value of deals there jumped 385 percent, to $679 million.
Source: Intelligent Insurer