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Insurtech in France and around the world: we take stock of 2022

March 1, 2023 | Publications

​Has the moment of insurtech passed? The constraints linked to the health crisis are now behind us, and consumer interest in 100% digital insurance is fading a little. It is from this idea that we started last summer with Pierre Fruchard, CEO of Coover, to discuss the results of neo-insurance at mid-year. But have they really been on the decline in 2022?

Return to normal in investment growth
A first key indicator is that of investments. On the other side of the Atlantic, where the digital insurance market has developed the most, there was a decrease in funds raised and amounts invested at the start of last year. Inflation and the subsequent rise in interest rates logically directed capital towards less expensive projects with a shorter profitability horizon.

Globally, according to the Global Insurtech Report, fundraising has thus fallen by half compared to 2021: 8 billion dollars cumulated in 2022, against nearly 16 billion dollars the previous year (15,8 billion , in 564 deals). Despite the tightening of funding rounds, the United States remains the country of choice for investors, receiving half of the total funds raised ($4 billion).

However, we must remember how exceptional the year 2021 was. Admittedly, 2022 is doing less well, but with its 8 billion dollars in 521 transactions, this is a new year with growth in the number of fundraising and sums invested compared to 2020 (7,1 billion for 377 transactions) . The past financial year therefore appears more like a “return to normal”, which is part of the continuous increase in investments over the past ten years.

Same observation for France, which is now on the podium of the countries where the most capital is invested for las insurtech, taking its place from Germany. According to the count of the Argus of insurance, tricolor digital insurance raised 558 million euros in 34 operations. It is also less here than in 2021 (627 million euros), but much more than in 2020 (183 million euros). Investor moderation therefore also takes the form, on this side of the Atlantic, of a continuation of the momentum that began before 2021.

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