The global insurtech financing volume has fallen in 2017 to $2.24 billion compared to $2.69 billion in 2016 and $2.75 billion in 2015, according to FT Partners fintech industry research. Insurtech, FT Partners, Fintech, Report, Global, Europe, North America, Asia Pacific
A record 203 investment deals were made into insurtech companies worldwide last year, according to Financial Technology Partners. However, the San Francisco investment bank found that financing volumes fell 17% from the previous year's $2.693bn to $2.238bn. The year saw the first initial public offering by an insurtech company started after 2010, with China's ZhongAn insurance raising $1.5bn through a Hong Kong listing. In China, insurers are also looking for ways to expand their business beyond traditional property and casualty insurance. Lemonade was the biggest property and casualty funding deal of 2017, raising $120m.