India 2nd largest insurtech market in APAC: Report

The data showed that at least 335 private insurtechs are operating in Asia-Pacific, with about 122 of them disclosing USD 3.66 billion in aggregate capital raised via private placement deals.

New Delhi: India is the second largest insurance-technology market in Asia-Pacific and accounted for 35 per cent of the USD 3.66 billion insurtech-focused venture capital invested in the region, according to S&P Global Market Intelligence data.

The data showed that at least 335 private insurtechs are operating in Asia-Pacific, with about 122 of them disclosing USD 3.66 billion in aggregate capital raised via private placement deals.

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“China and India are collectively home to nearly half of private insurtech companies in the APAC region and attracted about 78 per cent of the investments,” a report by S&P Global Market Intelligence said.

The two markets will continue to corner the lion’s share of investor interest on account of their large and fast-growing insurance markets, it added.

“India is the second largest insurance technology market in Asia-Pacific. India has at least 66 insurtech companies and accounted for 35 per cent of the USD 3.66 billion in insurtech-focused venture capital invested in the APAC region.

“Insurance technology investors are attracted to India since it is one of the fastest-growing insurance markets in the world,” S&P Global Market Intelligence fintech analyst Sampath Sharma Nariyanuri said.

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