The global InsurTech sector witnessed a substantial decline in new funding during the second quarter of 2023, amounting to $916.71 million, marking a 34.0% drop from the impressive $1.39 billion recorded in the preceding quarter, according to the latest findings unveiled by reinsurer Gallagher Re.
This dip has pushed the quarterly funding total below the billion-dollar mark for the first time in three years.
While the investment volume experienced a notable decrease, the average deal size encountered a relatively moderate decline of 16.1%, settling at $12.39 million for Q2.
