Insurers Get Busy In Tech Startup Investing In 2016
As more insurers including Aviva, XL Catlin, and Guardian Life launch investment arms, tech startup dealmaking by insurance firms is on pace for a record high in 2016, according to CB Insights data. In the first three months of 2016, insurers completed nearly 20 deals. The same set of insurers completed just 8 deals over the same period last year. Interestingly, while insurers previously shied away from tech startups working directly in the insurance value chain, 2016 has seen several strategic investments by carriers into insurance tech startups.