In total there were 331 unique investors in European Insurance companies during 2023. Techstars was the most active investor in European InsurTech companies with five deals. Techstars’ investments included Sprout.ai, a intelligent claims automation engine for the insurance industry, and Fluffy, which provide pet insurance that comes with rewards for responsible pet parents.
Benjamin Deplus, Principal in the Venture Team at Breega, one of the fastest growing VC companies in Europe, gave his view on the decline and explained why there is cause for optimism. He said, “In 2023, the InsurTech sector matured significantly. Numerous companies within the industry secured substantial funding to support their growth initiatives at cost. However, despite the influx of financial support, there was a decline in both the number of deals and overall investment due to challenges stemming from inadequately automated technologies.
