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A survey by Willis Tower Watson Securities showed that in Q2 insurance technology investments totaled $527 million in 71 deals. As Techcrunch reported, while that total amount committed was actually down significantly from the $985 million across 64 transactions in Q2 of 2017, the total number of deals (71) actually went up.
No investment better illustrates the opportunity for investors to play both sides of the insurance industry against each other than the recent $20 million extension Slice Labs raised to an original $11.6 million Series A round which closed in October of 2017. It’s not normal. But abnormal is the new normal for insurance technology investing. Strategic investor The Co-operators, a $3.6 billion collective of Canadian insurance cooperatives, led the extension with participation from the company’s previous investors, XL Innovate, Horizons Fund, and Munich Re/HSB Ventures, and SOMPO, and additional new investors Vero Norte, the investment arm of Grupo Sura and JetBlue Technology Ventures.
