Global: Number of insurtech startups by category 2019| ��ƽ��

Number of insurtech startups worldwide as of September 2019, by business category

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Sources

Release date

September 2019

More information

Region

Worldwide

Survey time period

As of September 2019

Supplementary notes

The source added the following information "The Venture Scanner insurance technology report currently tracks 1,544 insurance technology startups with $29B in funding."

Citation formats

Insurtech is the adoption of technology and innovation by the insurance industry. Although there are multiple avenues for insurtech companies to try and claim space on the market, the most popular include price comparison websites, insurance infrastructure and auto insurance. As of ****, the number of insurtech startups in the comparison websites category alone totalled *** globally.

Insutrech startups funding

At the height of the insurtech rush, between 2012 and 2016, there were anywhere from ** to **insurtech startups launching per month worldwide. Many insurtech startups need time to build their customer base and start generating revenue. Seed investment, followed by Series A and B investment helps these companies grow and become profitable.

Fintech adoption

On a broader scale, insurtech falls within the umbrella term fintech, along with other subsectors like Banking and payments, financial management and financing. While fintech adoption in different countries varies, large financial markets like China and the US have the highest fintech adoption rates. With global fintech investment following a trend of rapid growth, fintech adoption is expected to keep increasing.