Investment in the insurance technology industry powered ahead in 2017. How did Asia fare?
The number of insurance technology (insurtech) transactions soared by 39 percent globally in 2017, with the total value of deals up 32 percent, to $2.3 billion, according to a new report from Accenture.
Asia-Pacific witnessed a substantial increase in funding with a 169 percent rise in deal values, to $358 million, the number of deals rose by 27 percent. Asia is tipped to be the region with the most to gain as the revolution of the insurance industry through technology develops.
Elsewhere North America still dominates insurtech investment in both the total value and number of deals accounting for 46 percent of deals in 2017.
Europe turned out to be the global insurtech hotspot with the number of deals there up 118 percent. The overall value of deals there bounced by 385 percent, to $679 million.
