Insurtechs globally secured $1.4 billion in funding across 69 deals throughout the second quarter of the year, down 2% from Q1, according to a report from Willis Towers Watson and CB Insights. However, year-over-year (YoY) funding increased 273%. Forty-two percent of all insurtech deals this quarter went to startups in the US. Here's what it means: While big insurtech players enjoyed large funding rounds, investments in smaller players declined. The bigger picture: A small number of large players accounting for a majority of funding is a trend we've seen in other fintech areas as well, and it could point to a more mature market. Interested in getting the full story? Here are three ways to get access:
Insurtech investment grew 273% YoY in Q2 with funding rounds at Lemonade, Collective Health, PolicyBazaar and Shuidi Huzhu raising a combined $802m, over half the total $1.4bn raised in insurtech, according to Willis Towers Watson and CB Insights. SoftBank led funding in three of the four top deals. The company has also been expanding its insurance business into new verticals such as life insurance, auto liability and property insurance. Fintech investment followed a similar path, with Starling, Monzo, OakNorth and Greensill receiving just over half of the entire fintech funding during H1 2019. The findings suggest that the sectors are maturing.