Insurtech funding rose 52% from the second to third quarter, according to CB Insights’ State of Fintech Q3 2020 report.
Funding reached $2.56 billion in Q3, up from $1.7 billion in Q2 and $978 million in Q1. In the third quarter of 2019, funding was just under $2 billion.
Nearly half of that funding came from five megadeals:
- $500 million for Bright Health
- $250 million for Next Insurance
- $230 million for Waterdrop Inc.
- $150 million for Hippo
- $130 million for PolicyBazaar
The top 25 insurers completed 66 total deals so far in 2020, the most ever for this cohort on a year-to-date basis. In total, 318 VC deals were completed in the first three quarters of the year, rising from 99 in Q2 to 105 in Q3.
Source: Digital Insurance
Gallagher Re appoints Minesh Jani as CEO of India
Gallagher Re has appointed Minesh Jani as Chief Executive Officer of India, reinforcing the global reinsurance broker’s commitment to expanding its footprint in the rapidly evolving Indian insurance and reinsurance market.
The future of AI in insurance begins with the evolution of its technological architecture
From underwriting and pricing to claims management and customer engagement, insurers are increasingly looking to AI as the next major driver of efficiency, growth and competitive advantage. According to Gallagher Re’s Global InsurTech Report Q1 2026, AI-focused companies attracted 95.2% of the $1.63 billion invested in insurtech during the first quarter of the year, underlining the scale of industry interest.
Breeze launches AI-powered quoting tool to streamline cargo insurance placement
Digital cargo insurance platform Breeze has launched Quote AI Autofill, a new artificial intelligence-powered tool designed to simplify the insurance quoting process for freight forwarders and logistics providers.
