Global InsurTech Report on AI in (Re)Insurance

This report is a technical report detailing the role of artificial intelligence (AI) in the (re)insurance industry, specifically focusing on the fourth quarter of 2024. It presents a comprehensive analysis of InsurTech funding trends, highlighting a significant decline in global InsurTech funding, which fell to USD688.24 million in Q4 2024, a decrease from USD1.38 billion in Q3 2024. The report outlines the distribution of funding across various InsurTech sectors, noting that AI-centered InsurTechs accounted for 42.3% of deals in Q4. It also discusses the year-on-year comparisons, indicating a 5.6% drop in total global InsurTech funding from 2023 to 2024. The report emphasizes the importance of AI in enhancing claims processing within the (re)insurance value chain and presents case studies and partnership stories to support its findings. Additionally, it notes the geographical distribution of funding, with the UK maintaining its position as a significant market for InsurTech.