India 2nd largest insurtech market in APAC: Report

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.

“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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