Insurtech funding reached nearly $1.6 billion in the final quarter of 2018, the highest since 2015, according to Willis Towers Watson and CB Insights' latest Quarterly Insurtech Briefing.
That was the second consecutive quarter with more than $1 billion invested, after Q3 2018 saw more than $1.2 billion. Previously, the only time a quarter exceeded that amount was Q2 of 2015. Total number of deals was up slightly quarter-over-quarter -- 57 in Q3 to 63 in Q4 -- but larger amounts are being invested recently.
"The $70 million investment into Hippo, for example, has continued to drive the upward momentum of capital raising in the insurtech space," writes Dr. Andrew Johnston, global head of insurtech for Willis Re.
Other major deals cited by the report include:
- $500 million investment in Cambridge Mobile Telematics by Softbank
- $300 million Series B round for Devoted Health
- $200 million Series C round for Bright Health
The U.S. continued a big lead in funding activity, with 43% of investments going to firms in the States. China was second with 13%.
