Q3 insurtech investment ahead of 2016 levels
A total of 48 deals, accounting for $312m, occurred in the insurtech sector during Q3 2017, according to a report from Willis Towers Watson and CB Insights. Investment in the sector is roughly one-third greater than during Q3 2016. China's Ping An led the way, completing four deals during the quarter, while European stalwarts Allianz and Axa both closed three. 

Investment in insurtech startups by carriers and venture capitalists continued an uneven ascent in the third quarter of this year, with 48 deals totaling $312 million outpacing the same period last year by about a third.

That's according to the quarterly Insuretech Briefing report, released today by Willis Towers Watson and CB Insights. Though Q3 2017 represents a precipitous drop in terms of funding from the nearly $1 billion invested in Q2 -- the second-most lucrative quarter for insurtechs -- the almost 50 deals completed in the quarter are the third-most by that measure. In the third quarter of 2016, 38 total deals yielded $230 million in funding.

Study data goes back to 2012, and the relatively new industry has had periods of intense activity followed by comparatively calm ones. Three quarters -- Q2 2015, Q1 2016 and Q2 2017 -- have reported funding volume between $783 million and $1.85 billion. However, funding in the calm periods has been on a steady climb over the past year.

Of the total deals, 28 included direct investment by insurance companies and/or their investment arms, with some making multiple deals:

4 deals

Ping An

3 deals

AXA

Allianz

2 deals

MassMutual

Hannover Re

China Life

Aviva

CMFG

Driving the year-over-year increase, as well as buoying the insurtech funding trend, were significant investments in these health insurtechs, according to the report:

