PriyaPatel
TLDR:
Insurtech funding in Q2 2024 reached $1.27b, the highest level in five quarters. Early-stage funding also increased significantly, with the average deal size at $18.5m. One-third of Q2 2024 insurtech deals were directed towards AI-centered insurtechs and 40% focused on risk-related solutions.
Key Elements:
Global insurtech funding in Q2 2024 hit $1.27b, the highest in five quarters. Early-stage funding and the average deal size also increased significantly.
The overall deal count fell to 82 in Q2 2024, the lowest quarterly number since Q2 2020. Despite this, nearly doubling average deal sizes contributed to the rise in funding levels. One-third of deals were directed towards AI insurtechs and 40% focused on risk-related solutions.
Looking back at H1 2024, despite a relative downturn in global insurtech investments in Q1, the industry maintained a strong focus on technology businesses. H1 2024 funding is only $119m short of H1 2023 totals, reflecting ongoing strong interest in the sector.
