India emerges as second-largest insurance technology market in Asia-Pacific region after China

Current GK ( Master) International Affairs

As per a new report by S&P Global Market Intelligence, India is the second largest insurance-technology market in Asia-Pacific region.
India accounts for 35% (USD 1.28 billion) of the total venture capital (USD 3.66 billion) attracted by the insurtech sector in the Asia Pacific region so far.
China was the largest insurance-technology market accounting for around 43% of the total investment.
As per the data, out of 335 private insurtech firms in the APAC region, 122 companies have disclosed their fundraise, amounting to a total of USD 3.66 billion.
Out of these, around half of them are headquartered in India and China, and collectively attracted about 78% of the total investment.