- With the Insurance industry racing to digitalise, France has positioned itself as the front runner for InsurTech funding in Europe. The UK is first in Europe in terms of total value of direct insurance premiums written in 2019, France is a close second.
- Descartes, who offer data-driven parametric insurance against climate risk, completed the highest valued InsurTech deal in the first three months of the year raising $120m. Descartes will use the funding to scale up its approach to corporate and public entity risk exposures and target larger deals.
- European InsurTech funding reached $483m in Q1 2022 with 16% of all deals being related to climate risk which shows a clear trend for the sector. A survey from BlackRock reported that 95% of global insurers anticipate climate risk to impact portfolio development over the next two years.
The data for this research was taken from the FinTech Global database. More in-depth data and analytics on investments and companies across all FinTech sectors and regions around the world are available to subscribers of FinTech Global. ©2021 FinTech Global