We analyse in detail the latest funding rounds that have taken place in Europe in Insurtech, a sector that is attracting global investment attention with a five-fold increase in investment in the last three years.
We analyse in detail the latest funding rounds that have taken place in Europe in Insurtech, a sector that is attracting global investment attention with a five-fold increase in investment in the last three years.
What is Insurtech?
The term insurtech arises from the conjunction of insurance (insurance) and technology (technology). Following the emergence of fintech, which involves the comprehensive transformation of financial services into digital processes, it is now the turn of the insurance industry.
We can therefore define the insurtech phenomenon as the transformation of traditional insurance companies adapted to the new technological environment in all its dimensions; as well as the arrival of new companies that offer new digital products, or add value to existing players.
This transformation of the insurance industry is due to a change in mentality brought about by technological evolution; the need to insure not only objects, but also lifestyles; and the emergence of different economic models, such as the collaborative economy.
The insurtech sector is currently attracting much of the world's investment attention. Investment in insurtech startups has increased fivefold in the last three years. As reflected in the report 'Opportunities await: How InsurTech is reshaping insurance' by the consultancy firm PwC, cumulative investment in the sector since 2010 exceeds $3,400M.
Latest investment rounds in Insurtech in Europe
| Company | Description | Country | Amount |
|---|---|---|---|
| Ledger | Ledger develops proprietary security solutions for cryptocurrencies and blockchain applications, aimed at individuals and businesses. | France | $75M |
| WISeKey | WISeKey is a world-leading cybersecurity company that implements large-scale digital identity ecosystems with a patented process. Its Root of Trust ("RoT") cryptographic technology provides secure authentication and identification in both physical and virtual environments for IoT, Blockchain and Artificial Intelligence. | Switzerland | CHF50M |
| Blueliv | Blueliv is a leading provider of cyber threat intelligence with a world-class in-house team of labs, providing cyber threat intelligence and analytics intelligence for enterprises, service providers and security vendors. | Spain | €4M |
| DFLabs | DFLabs is a leading global company specialising in security automation and orchestration technology. The company has helped shape the cyber security industry, including co-publishing several industry standards. | USA | $3,5M |
| eSafe Global | eSafe Global is a leading company specialising in the development of cyber security software solutions. | United Kingdom | £1,95M |