Insurtech, investments in Italy rise to 80 million in the third quarter

Investments in Insurtech in Italy rose in the third quarter of 2021, reaching 80 million euros compared to 60 million in the first six months of the year. These are the data collected by the Italian Insurtech Association (Iia) in collaboration with the Fintech & Insurtech Observatory of the Politecnico di Milano on the growth of the sector and the relationship with the ‘traditional’ players of the insurance market. According to IIA’s analysis, this is a period of great ferment and the survey also assesses the relationship with start-ups, which are fundamental for the creation of new products and services from a digital perspective, starting with new data on investments in the sector. According to estimates by IIA and the PoloMi Observatory, an overall investment in Insurtech of 250 million in Italy is estimated at the end of the year, a figure that is growing but, analysts note, below the European average considering that France will arrive at the end of 2021 to have invested in Insurtech 1.2 billion euros while Great Britain and Germany 1.5 billion euros. The main gap is recorded in investments in Insurtech start-ups: in Italy only 20 million dollars, equal to less than 1% of what is invested in Europe, underlines the IIA which brings together about 200 players in the insurance market sector which today represents over 7% of the Italian gross domestic product and which counts among the Senior Partners realities such as Crif, Reale Group, Leitha, Accenture.