[Report] InsurTech Europe: 2022 Full Year In Review

This is the 4th time in a raw we published our analysis of every deal announced in the European InsurTech scene.

There were so many headlines last year about the investment activity in startups. To cut the noise and help you navigate the European InsurTech scene more specifically, we analyzed every deal announced in that space in 2022.

Below, you’ll find 5 charts that summarize the activity last year.

1)Investment activity: is the glass half empty or half full?

With €1.5B invested last year in European InsurTech startups, that’s a 40% drop from a year before. On the other hand, there were 10% more deals announced than a year before !

2)InsurTech is still in early days

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Last year, 48% of rounds announced were done below €3m (Seed stage).

3)InsurTech is more than ever a European industry

Almost ⅓ of rounds were done outside of the three biggest startups scenes — France, Germany and the UK -, and this share has been growing since inception (e.g. up from 22% in 2019 !)

4)No insurance line is immune to innovation

Once again, InsurTech startups which raised money in 2022 are covering all the business lines (Commercial, P&C, Life, Health in addition to Enterprise Software) and P&C was only a ⅓ of every deal.

5)InsurTech is getting closer to the insurance core engine

If ‘distribution’ accounted for more than half of all deals announced, the ‘product’ part of the value chain was also active, accounting for 25% of rounds in that category. These startups are addressing commoditized risks with new technologies or enabling coverage for new risks such as weather damage, cyber, and IT infrastructure.

>> You could find our full analysis on http://kpi.astorya.io/

📊 LIVE data on the European InsurTech scene: http://kpi.astorya.io

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