Top insurtech funding rounds, Dec. 2022
There were about 20 funding events in the insurtech sector between Dec. 1 and Dec. 31, 2022, according to a review by Digital Insurance.
January 4, 2023
11:41 am
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There were about 20 funding events in the insurtech sector between Dec. 1 and Dec. 31, 2022, according to a review by Digital Insurance.
Cyberattacks are becoming more sophisticated, but so are insurers. In its 2023 US cyber market outlook, Risk Placement Services (RPS) says that insurance carriers have adapted to underwriting cyber risks even as threat actors raise or change their tactics. Combined with improved cybersecurity practices within organizations, this has led to rate stabilization in the marketplace.
The eldest of Gen Z, or the generation of those born between 1997 and 2012 according to the Pew Research Center, are entering their mid 20s, and these young individuals have already faced great economic pressures since entering the workforce. The COVID-19 pandemic, rising inflation and an imminent recession transformed Gen Z’s shopping trends, behaviors and expectations – and as Gen Z’s spending power rises, insurance companies must be ready to adapt for these young consumers.
As we close out 2022, the general state of the insurance industry is that change is happening, but it’s not moving rapidly enough. When we look back over many of the predictions from years past, it’s easy to see why.
Disruption within the insurance industry has been kicked into high gear over the past couple of years, with new customer demands and emerging technologies putting traditional insurers under pressure. To stay ahead of this fast pace, insurers must assess the factors shaping the industry including new business models, customer expectations and emerging technologies being used by competitors.
CyberCube, a San Francisco, CA-based cyber risk analytics company, has just raised $50M in Growth funding. In conjunction with the announcement, Pascal Millaire, CEO, answered our questions about the company, their achievements so far, the funding and future plans.
As the insurance industry continues to navigate the pace of change, complexity and uncertainty in our world, consumers continue to respond, expecting companies to be more responsive to their needs. This year’s underwriting predictions offer guidance on how carriers can respond faster.
Companies making M&A deals outperformed the World Index by an average of 2.3 percentage points during the first nine months of 2021, driven largely by strong performance in the first two quarters of the year, Willis Towers Watson said.
In August of 2021, we interviewed Andrew Toy (President, CTO and Board Member at Clover Health) and here’s what he had to say to our Future50.
Those insurance industry disruptors known as insurtechs are more than happy to coexist with brokers.
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