The $711m in value accounted for 44% of the global total, a quadruple increase on the previous year (10%). AI, IoT and analytics and big data propositions collectively accounted for 56% of the total number of deals – around 70% of total value last year. UK market doubles The value of insurtech investments in the UK more than doubled year on year to almost $19m, although the total number of deals remained flat. Accenture said that Brexit had not had a material impact on the investment climate in 2016. After the UK, Germany and France are the next largest markets in Europe.

"We've seen a rapid acceleration of investment into and deal activity around intelligent automation and IoT start-ups over the last 12 months," said Roy Jubraj, digital & innovation lead for Accenture's financial services practice in the UK. It coincided with the graduation of the latest cohort from Accenture's accelerator, Fintech Innovation Lab, which included an insurtech group for the first time. "These technologies are primed to disrupt the industry in the years to come, so it's fitting that we've established a dedicated insurtech stream as a key part of Accenture's Fintech Innovation Lab in London," Jubraj added. Fintech Innovation Lab London The Fintech Innovation Lab London is modeled on a similar program, co-founded in 2010 by Accenture and the Partnership Fund for New York City. "We've seen a rapid acceleration of investment into and deal activity around intelligent automation and IoT start-ups over the last 12 months," said Roy Jubraj, digital & innovation lead for Accenture's financial services practice in the UK.

The $711m in value accounted for 44% of the global total, a quadruple increase on the previous year (10%). AI, IoT and analytics and big data propositions collectively accounted for 56% of the total number of deals – around 70% of total value last year. UK market doubles The value of insurtech investments in the UK more than doubled year on year to almost $19m, although the total number of deals remained flat. Accenture said that Brexit had not had a material impact on the investment climate in 2016. After the UK, Germany and France are the next largest markets in Europe.

The $711m in value accounted for 44% of the global total, a quadruple increase on the previous year (10%). AI, IoT and analytics and big data propositions collectively accounted for 56% of the total number of deals – around 70% of total value last year. UK market doubles The value of insurtech investments in the UK more than doubled year on year to almost $19m, although the total number of deals remained flat. Accenture said that Brexit had not had a material impact on the investment climate in 2016. After the UK, Germany and France are the next largest markets in Europe.

Investing in technology-oriented insurance ventures (insurtech) is clearly a global trend and almost half of all the money being poured into them globally is going into artificial intelligence and internet of things startups, new research finds. The research from Accenture, which includes an analysis of CB Insights data on 450 insurtech deals over the last three years, appears in a new Accenture report titled The Rise of InsurTech. The CB Insights data reveals that global insurtech investment totaled $1.7 billion in 2016 and both the volume and value of deals have almost doubled since 2014. While more than half of all deals still take place in the U.S., insurtech has gone global with the United Kingdom, Germany, China and India now being significant markets and other countries coming on. Only about 14 percent of the insurtech deals in 2016 had an insurance industry investor or partner, although the industry's participation has been rising every year.

The research, which includes new analysis of CB Insights data on 450 insurtech deals over the last three years, appears in a new Accenture report titled "The Rise of InsurTech." The report was released today in conjunction with Accenture's Fintech Innovation Lab in London, which for the first time includes a dedicated insurtech stream comprising leading industry startups. According to the report, the combined number of deals across AI (including automation) and the IoT (including connected insurance) increased 79 percent in 2016. Even though the two technologies represented only one-quarter (24 percent) of the 216 insurtech deals globally last year, they accounted for 44 percent or US$711 million of total insurtech investment – compared with just 10 percent of global insurtech investment in 2015. "We've seen a rapid acceleration of investment into and deal activity around intelligent automation and IoT start-ups over the last 12 months," said Roy Jubraj, a co-author of the report and Accenture's Digital & Innovation lead in the company's Financial Services practice in the U.K. and Ireland.