February 26, 2024

if you only Tracking the recent U.S. insurtech IPOs, you might think insurtech is in an era of failure.

Thankfully, that’s not the case.

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Earlier this week, we saw a decline in the valuations of publicly traded insurtech companies coincide with a decline in VC interest in the category.

Subscribe to TechCrunch+As a result, the funding environment for late-stage startups in the sector has been difficult, but there is a lot of optimism about the latest generation of startups.

It is worth noting, however, that the US significantly distorts data on the global insurtech market. According to statistics, half of the US$2.4 billion invested in global insurance technology start-ups, or US$1.2 billion, went to US companies. Data from Dealroom. Therefore, regional results deserve more attention from us.

This morning, we’ll take a look at how insurtech is doing in the EU. We will also examine the performance of several European insurtech startups based on data collected by the Stanislas Lot. daphne. work!

Where is Europe?

The U.S. insurtech market is the largest venture capital market in the world, which is not surprising since it is the largest venture capital market in the world. Still, Europe didn’t fare too badly, coming in third, just behind “the rest of Asia,” according to Dealroom.

European insurtech startups have raised $341 million so far in 2023, 33% less than a year ago. This decline is actually worse than what we’ve seen around the world (down 23%), the US (down 22%) and Southeast Asia (down 5%). Notably, only “Rest of Asia” saw an increase (58%).