Trending

Stories

India, China Lead Asia’s Insurtech Industry Rise: Report

Tidio Live Chat Software - Add Tidio live chat software to your website in minutes. Contact visitors and turn them into happy customers. Enhance their experience and boost your sales. Get it for Free

WP Rocket - WordPress Caching Plugin

Must Read

Insurtech companies in India raised $1.33 billion in 2021 and $304.8 million a year earlier, becoming one of the three biggest insurance fundraisers in Asia, according to a new report.

Mainland China-based insurtechs raised $673.7 million in 2021 and $1.42 billion in 2020.

Also Read

While insurtech fundraising has been brisk across Asia in recent years, innovators in China and India appear best positioned to move beyond a supporting role and challenge the region’s industry incumbents, according to S&P Global Market Intelligence analysis.

Bernhard Kotanko, a senior partner with McKinsey & Co., said that “We don’t see many successful cross country-driven business models”.

Elegant Themes - The most popular WordPress theme in the world and the ultimate WordPress Page Builder. Get a 30-day money-back guarantee. Get it for Free

“Within Asia-Pacific, we will see those models emerge strongest in India, China,” he noted.

India-based insurtechs were three of the biggest fundraisers in 2020 and 2021, with Go Digit General Insurance Ltd., Acko General Insurance Ltd., and Policybazaar Insurance Brokers Private Ltd. raising $319.3 million, $319.2 million, and $219.1 million, respectively.

Singapore Life Pte. Ltd. was also a big fundraiser with investors committing approximately $238.1 million in 2020.

Notably, insurtechs in Japan only raised $4.1 million in 2020 and $4.7 million in 2021, said the report.

Smaller jurisdictions such as Hong Kong and Singapore have sought to promote digital innovation in their respective insurance markets, but challenges remain given the nature of those markets, it added.

iThemes WordPress Hosting

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.

Latest

Stories

- Advertisement -
- Advertisement -

Latest

Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

- Advertisement -

Grow Your Business

Get these business solutions, tools and services to help your business grow.
Elementor

Elementor -Join 5,000,000+ Professionals Who Build Better Sites With Elementor. Build your website with 100% visual design that loads faster and speeds up the process of building them.

WP Rocket

WP Rocket - Speed up your website with the most powerful caching plugin in the world. The website speed increase means better SEO ranking, user experience, and conversation. It’s a fact that Google loves a fast site.

Kinsta

Kinsta - If you are looking for WordPress managed hosting, Kinsta is in the leading front. Kinsta provides WordPress hosting for a small or large business that helps take care of all your needs regarding your website with cutting-edge technology.

OptinMonster

OptinMonster - Instantly boost leads and grow revenue with the #1 most powerful conversion optimization toolkit in the world. 700,000+ websites are using OptinMonster to turn their traffic into leads, subscribers, and sales.

Related

- Advertisement -
- Advertisement -
Microsoft’s Teams Get OpenAI-Based Features WhatsApp New Feature that Allows Users to Create Calling Shortcuts Instagram Working On Twitter-like Paid Verification Feature OnePlus Ace 2 Specs Exposed Online Realme GT Neo 5 Full Specs Revealed  Samsung Galaxy S23 Ultra: The New Android King Twitter To End Free API February 9 MLS Season Pass Now Available On Apple TV App Tesla To Increase Giga Shanghai EV Production to 20,000 Weekly  OpenAI Releases Tool To Detect AI-generated Text
Tesla Records Double Net Profit in 2022 India to Produce Upcoming iPhones: Trade Minister Japanese Professor Developed A Power Semiconductor made of Diamond Google Releases New Product for India’s Merchants Indian EV Startup Unveil Two AutoBalancing Electric Scooters OPPO Find X6 Pro Images Render via Weibo Sony Develops New Tech to Reduce Noise of Image Sensors Tesla’s S & Y Models Earn Best-in-Class Cars of 2022