Global insurtech funding reached $7.12 billion across 377 deals, the most in any year to date

Total funding increased 12% from $6.35 billion in 2019, while deal volume increased 20% from 314. Despite an initial hard dip in Q1 2020, when investors likely braced for the pandemic's impact, insurtech funding quickly bounced back and then overtook 2019 levels as investors rallied to insurtech winners.