Venture funding

Global insurtech funding increased from about $917 million in the second quarter of this year to about $1.1 billion in the third quarter.

There were about 40 funding events in the insurtech sector in September, according to a review by Digital Insurance.

Kim shares with Digital Insurance her take on what is happening in the insurtech space in terms of venture capital funding and the impact of the climate crisis on digital solutions.

There were more than 30 funding events in the insurtech sector between June 1 and June 30, 2023, according to a review by Digital Insurance.

Having first focused on pet insurance, the seven-year-old firm has since expanded into parcel, fire, home and health products. It also insures digital assets from hacking and malware and theft.

Longtime industry executive Henna Karna joins as entrepreneur-in-residence

The company, which currently operates in six countries, is planning to use some of the funding to develop a platform for other insurers to build insurance products via Wefox's technology.

The Global Insurtech Report highlights sector investments, which are up from the last quarter of 2022.

The insurer is investing in startups, including insurtech Surround Insurance, to generate positive social impact alongside financial returns.

Fintechs were already clustered in New York and San Francisco. Now that most startups work with the four largest banks, it's even harder to create new technology in the heartland.