Insurtech

This is because APAC insurers spend under 3% of GWP on tech.

Since 2012, over $60b has been invested in insurtech companies.

It also aims to expand its footprint to six lakh villages.

Seed-stage funding also declined 16% to $7.7m.

Australia was one of the markets with the largest share decrease.

Despite this, 45% of medical expenses are paid out of pocket.

63.4% of Q3 2024 deals are directed at AI-centered insurtechs. 

The round was led by Powerhouse Ventures, with participation from 1337 Ventures.