2019 was a record year in terms of investments in insurtech projects, Finversia.ru writes citing the Willis Towers Watson report.

The total global amount of funds raised by insurtech entrepreneurs made USD 6.37 billion. The sum makes 33.9% of the financing the sector has raised so far, as just in the 4th quarter of 2019 investors contributed USD 1.99bn in 75 projects.

Last year saw 5 investments that made companies “unicorn”, and as a result, the world now has 5 new companies with capitalization of over USD 1 billion. Additionally, 3 other deals were made with companies whose capitalization surpassed the mark of USD 1 billion before the investments.

Another record index of 2019 was the 90% growth of the number of investment rounds exceeding USD 40m.

Property insurance projects received the major part of the investments, surpassing life and medical insurance. Geographically, the United States leads in terms of investment, as U.S.-based companies signed 706 deals. UK is not far behind with 118 deals, China got the third most with 86, and German and Indian companies signed 59 and 47 deals, respectively.

The list of countries where investors contribute to insurtech projects includes not only leading insurance markets, but also countries that might be considered exotic insurance-wise: UAE (14 investment rounds, 1 more than in Japan), Chile (9), Indonesia (6), and Kenya (4).

Insurtech has become a really global phenomenon.

Probably, the most surprising fact in the Willis Towers Watson report is that some insurtech companies have left the market, even though some of them attracted investment.

“The insurtech ecosystem is in the stage of active formation, and it would more surprising if there were no companies leaving the market due to falling to pass the natural market selection,” Finversia.ru writes.

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