Market Trends of Europe InsurTech Industry
This section covers the major market trends shaping the Europe Insurtech Market according to our research experts:
Investments in Insurtech Start-ups in Europe are Rising
With the emergence of new start-ups, the insurance industry in Europe is gaining momentum. The combined enterprise value of the European insurtech start-ups has increased by four times from 2016, reaching EUR 17 billion. Similarly, insurance investment in Europe is also growing faster than anywhere else in the world. The year 2021 proved to be a turning point for European insurtechs. Venture capitalist investments already reached EUR 1.8 billion in just five months. Compared to 2016, the investment has increased by 16 times and is at an all-time high.
United Kingdom is Home to the Largest Number of Insurtech Companies
Europe has been a potential market for the development of insurtech companies. Between 2010 and September 2021, there were 293 new insurtech companies in Europe. The United Kingdom, Germany, and France alone made up 201 of these companies. These three countries host almost 70% of the insutechs in the region. In 2021, the European insurtech market became the second most funded market in the space, behind the United States. Insurtechs in Europe accounted for 26.9% of the capital invested, which stood at 15.6% in 2020.
