New markets to make it on the insurtech funding map included Botswana, Mali, and Turkey. The future of the insurtech space: Despite early-stage deals composing 57% of all deals, the concentration of funding volume among later-stage players calls into question younger startups’ longevity. In 2020, WTS estimated that 184 insurtechs globally were close to or had shut down since 2010.
To put that in context, that estimate is more than the combined GDPs of Belgium, Sweden, and Turkey. Those are very promising figures for China, which is actively trying to lure developers to its BSN network with cheap server space, programming tools to create blockchains, and templates to standardize basic functionality, per WSJ.