gathered through NTT DATA ’ s asset ‘ inttrend ’. Their team of specialists in the insurance sector then proceeded to study the four samples , and complement them with top insights based on market-analysis .
The final stage consisted of a series of interviews with top Executives from leading insurance companies worldwide . Their perspectives and experiences allowed NTT DATA to build a more consistent and “ in-thefield ” vision of today ’ s market and a reliable foresight of the future , with real examples on how the Four Forces of Acceleration are indeed influencing the industry .
Insurtech Market Booming in 2021 , but Are They Impacting the Industry ? 2021 was certainly a prosperous year for the Insurtech ecosystem . Its global investment reached $ 10B , which represents a 38 % increase from 2020 . However , the number of deals has decreased , which signals a consolidation of the market .
Noteworthy is the sustained flourishing NTT DATA observed , both in terms of investment attraction by these startups , but also of the intensity of such investments by insurance companies and other players in the arrival of new models and new technologies into the industry . In fact , NTT DATA has identified a sort of ‘ herd effect ’ when it comes to investment in new business models , considerably multiplying the valuation of these companies and accelerating growth .
Among these new product segments and applications for emerging technologies that seem to be leading the innovation in the sector , they have noticed the acceleration of digitisation , IoT ( Internet of Things ), freelancer models , Cybersecurity and the combination of Life and Wellness , which
12000 |
$ 23,100,004 |
$ 35,910,614 |
$ 69,179,832 |
$ 279,609,748 |
$ 573,364,823 |
$ 2,130,986,592 |
$ 1,266,972,226 |
$ 2,229,743,156 |
$ 4,123,931,921 |
$ 6,590,389,899 |
$ 6,364,150,864 |
$ 10,169,146,061 |
450 |
+ 4B IPO |
|
10000
8000
|
|
|
|
|
|
|
|
329 |
358 |
393 |
322 |
316 |
400
350
300
|
$ 10B
316 Deals
|
6000 |
|
|
|
|
|
|
228 |
|
|
|
|
|
250 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
200 |
|
4000 |
|
|
|
|
|
169 |
|
|
|
|
|
|
150 |
|
2000
0
5
16
29
59
102
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
100
50
0
Money Raised ( MUSD ) Number of Deals
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