Gallagher Re’s Global InsurTech Report Q4 2024 has reported that global insurtech funding dropped 5.6% year-on-year, from approximately £3.6bn in 2023 to £3.4bn in 2024. It said global insurtech funding halved from £1.1bn in Q3 2024 to £546m in Q4.

In the foreword to the report, Dr Andrew Johnston, global head of Gallagher Re Insurtech and editor of the report, said: “Looking at year-on-year comparisons between 2024 and 2023: total global insurtech funding dropped 5.6% YoY from USD 4.51 billion in 2023 to USD 4.25 billion in 2024 – the lowest amount since 2018. Global InsurTech deal count fell 18.5% YoY from 422 in 2023 to 344 in 2024 – the lowest since 2019.”