Total new worldwide funding commitments to the insurance technology sector thus far in 2019 have already beaten the full-year 2018 total, according to Willis Towers Watson PLC. Also, insurtech funding in the third quarter exceeded $1.2 billion, marking the fifth-consecutive quarter that milestone has been surpassed.
By Willis Towers Watson's count there were a total of 83 deals announced in the three months ending Sept. 30, with a combined value of $1.50 billion. The aggregate value was up 6% sequentially and was the third-highest quarter for global insurtech investment to date.
A total of $4.36 billion has been deployed to insurtech companies thus far in 2019, an increase of 5% compared to the full-year 2018 figure. Willis Towers Watson has tallied 239 insurtech deals through the first nine months of the year.