The insurance industry across the world is on a high note. An average insurance penetration worldwide was around 7.2% in 2019, as per a report, but despite the Covid-19, it looks set to increase in the coming years. This could be the reason why insurtech companies are looking to disrupt the market by developing digital insurance platforms with insurance companies and suppliers.
In a recent development, German digital insurance company, Getsafe, has raised $30M (approx €24.7M) in its Series B round of funding led by Swiss Re’s digital platform iptiQ. This brings Getsafe’s total funding to $53M (approx €43.7M), to date.