India is the second-largest insurance-technology market in Asia-Pacific and accounted for 35 percent 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. At least 335 private insurtech firms are operating in the Asia-Pacific, with about 122 of them disclosing USD3.66 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 78percent 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, the report added. "India is the second-largest insurance technology market in Asia-Pacific. India has at least 66 insurtech companies and accounted for 35percent of the USD3.66 billion in insurtech-focused venture capital invested in the APAC region," said Sampath Sharma Nariyanuri, a fintech analyst with S&P Global Market Intelligence. "Insurance technology investors are attracted to India since it is one of the fastest-growing insurance markets in the world." Insurance premiums in India totalled USD107 billion in India for 12 months ended March 31, 2020, after growing at a compounded annual growth rate (CAGR) of 10percent from FY15 to FY20, he added.
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