Shopping for Digital Capabilities – What’s Driving M&A Activity in Global Insurance?

For several years, the financial services industry has led technological adoption to streamline business operations. Following its suit, the insurance ecosystem is also looking to shift from conventional methods and acquire technologies focusing on risk management, data analytics, and digital marketplaces.

Since 2018, insurance firms have acquired more than 150 companies and spent in excess of USD 10 Bn to develop their online distribution channels and improve the efficacy of their mid-office and back-end operations by building InsurTech capabilities.

While large-scale firms have targeted companies offering solutions related to digital payments, online marketplaces, and digital platforms, small-scale insurers have focused on digital underwriting and online brokerage services.

This report provides intelligence on the M&A activities of insurance providers and brokerage firms, including an assessment of deal strategies, geographic focus, and the type of business targeted.