2025年第四季度全球保险科技报告：人寿、意外与健康保险领域AI应用（英文版）-

GallagherReGlobalInsurTechReport

TheroleofAI

in

the

four

largestinsurance

business

linesQ4—

Life,Accidentand

Health

InsuranceFEBRUARY2026Thisreport

isacollaboration

betweenGallagher

Re,GallagherandCB

Insights.262.The

DataCenterThisquarter’sdatahighlights4.IntroductionQ4InsurTechinvestmentdatahighlightsandforewordDr.Andrew

JohnstonGallagherRe30.InsurTechCaseStudies•

Thatch•

Amplify•

Peak3•

Owl.co52.ThoughtLeadershipRyanJessellHealthPlanOne56.ClosingtheLifeandHealth

ProtectionGapinAfricaWithEmbeddedInsurance

JeremyLeach,InclusivitySolutions40.TheRoleofAI

inLifeandHealthIn-ForceManagementAtidot26.InsurTechTeamCornerFreddieScarrattGallagherRe44.DealsoftheQuarter

•

AngleHealth

•

DistrictCoverINSIDETHISEDITION

.

.

.Contents3IntroductionQ4InsurTechinvestmentdatahighlightsandforeword4AIhastransformedthecurrentperiodintoa‘goldenage’oftechnology.Neverbeforehaveweobservedsuchrapid

investmentanddelivery

ofaninnovation—onethatisnotonly

delivering

a

cutting-edgeseries

ofcomputingtools,butalsotransformationallyimprovingexistingtechnology

aswell.

Itisestimatedthatin2025,

bigtechfirms

invested

over

USD1trillion

indatacentersandotherinfrastructure,withtheexpressfocusofsupporting

AI.Thereseemstobenolack

of

optimism

inthe

power

of

AI.Ourindustryisnodifferent.

We

have

invested

billions

into

AI

—

throughacombinationofhomegrownendeavorsandprojects,partnershipswithAIcompanies,andinvestmentsintoAIcompaniesthemselves(someself-identifyingas

InsurTechs).Thisrevolutionprovokesbothoptimismand

concern.

There

is

thefearofbeingleftbehind

(and

becomingobsolete),

but

alsoexcitementthatAImightdeliverthesortsofreturnsandgains

thatwehaveanticipatedfrom

InsurTechforthepast15

years.52025wasthemostsignificantyearforArtificialIntelligenceyet—not

justinourindustry,butacrossthe

planet.Wesawanaccelerationinthearmsracebetweenthevariousconsumer-facing

AItools(DeepSeek,ChatGPT,Gemini,etc.),while

companyvaluationsofAIfirmshitunprecedentedhighs.There

weresome

astronomical

capital

raises,suchaswhenOpenAIattractedUSD40BinApril2025ataUSD300Bvaluation.

But

perhaps

mostimportantly,therecannowbefewcorporatemanagementteams

whosestrategiesdonotfeatureAIinsomeform,asan

investment

orapathto

growth.DR.

ANDREW

JOHNSTONGlobal

Head

of

InsurTech,Gallagher

Re,Global

InsurTech

Report

EditorIntroduction6Answeringthe‘sowhat?’questionforAIItfeelslikeweareatasimilarpointwithArtificialIntelligence.Therearepromisesofsystematicchangestohowwework,howwe

interactwitheachother,andhowmuchmoreefficienteverypractical

endeavorwill

become.Ultimately,thisistheintellectualjustification

forthetrillionsofdollarsbeinginvested.Thecompaniesclaimingto

bespearheadingthese“inevitable”changeshavebecomegiants,anddominateeveryconversationthatishadaboutthefuture.However,as

yet

the

products

and

offerings

remain

largely

use-andcompany-casespecific—somethingthatthecommentatorspredictingtransformational

social

changeseemtoforget.Oneofthemany

lessonswecantakefrom

previous

hypecycles

is

toseparate,defineandclearlyunderstandofferingsataproduct,

companyandindustry-widelevel.Onlythencanweappreciatewherethelong-termvaluewill

comefrom,andnotbe

deterred

intheshorttermifAIdoesn’tdeliveronsomeofthewilderscience-fictionpromisesoverthenext18months.

We

knowthe

historyoftheinternetfrom2000-2025.Perhapsin

another25years’

time,AIwill

bedrivingeverydigital

processandinteractionthatwehave.Perhapsitwill

redefine

communication

anddistributionthroughoutourdailylives.Viewedfromthatperspective,theshort-termstockpricesofindividual

businesses

orbrandsmatter

less.

Instead,weshouldstepback

and

look

at

thebiggerpicture;howis

our

industry

evolving?

What

are

the

businessoutcomesfor(re)insurance?

IsAIalignedtoouroverall

strategy?Andhowdoesthisimpacton

our10-year

goals?Thesecyclesareall

fairlypredictable—thereare

the

initial

phases

ofexcitementthatresultinSchumpeter’sgaleof

disruption(creative,social

andeconomicdisruptionofthestatusquo).Thisisgenerallycharacterizedbyfrothyvaluationsof

individual

companiesthatstruggletogeneratejustifiablerevenue,andcreatesalanguagethatisimprecise

but

becomesthe

linguistic

vanguardforcommentators.ThehypeandanticipationaroundAIhasalsodrivenspectacular

gainsonthefinancial

markets,

largelydrivenby10orsofirmsthatarepioneersofthelatestand

greatestAI

offerings.Datacompanies,chipproviders,datastorage,intelligentsearchanddigital

distributionfirmshavecoalescedtocreatethefoundationsofawholenewAIindustry.

Nevertheless,weshould

alsoberealisticaboutthepotential

pitfalls.The

incredibly

highstock-marketvaluationsofAIcompaniesdoseemtohaverunfaraheadofwhattheyaregeneratingin

revenue

—at

least

fornow.Thequestionofwhetherthetechindustryis

overleveraged,

overheatingandcreatingabubbleisnow

raised

almost

weeklyinthemedia.Arewemistakenin

thinking

that

AI

will

achievesignificantnewrevenuegeneration—asopposedto

providing

an

incrementallymoreefficientversionofexistingtechinfrastructure?Aswithmostspeculations,onlytimewill

tell.WedoknowthatAIisheretostay;whatwedo

notyet

know

isthe

extentto

which

hypecanbeseparatedfromreality.Wealsodo

not

knowwhichfeaturesandfunctionsofAIwill

gothedistance,andwhichwill

be

discarded.Thecomparisonwiththedot-combubbleofthe1990s

isbothinevitable,andinstructive.

Backthen,the

market

reached

itspeakintheyear2000,onlyfor

billionsof

dollars

invalue

to

be

wipedoutascountlessbusinessesfailedtodelivertheanticipated

revenues.

Butwhilemanyofthosecompaniesno

longer

exist(rememberP?),considerthelong-termimpactthattheinternethashadonour

lives.As

of

October

2025,

6.04Bindividualsworldwidewereinternetusers,whichamountedto73.2

percentoftheglobal

population.

Ithasbeensotransformational

to

humansocietythatitwouldbeboth

impossible,anddisingenuous,

toattempttoputafinancial

valueon“theinternet”.

Itwould

beliketryingtoquantifythevalueofatransportsystembynumberofticketssold,insteadoftheworldthatitfacilitates.IntroductionThatbeingsaid,AIissquarelythefocusofmostofthecontemporaryInsurTechworld.InourQ3report,weshowedthatapproximatelythree-quartersofall

fundingisnowgoingintoInsurTech

businesses

that

associate

themselves

with

the

AI

label(whethertheyareAI-poweredthemselves,orareprovidingAItools

toothers).Wedonotseethistrendslowingdown.Infact,weseeAI

becomingsointegratedintoInsurTechovertimethatthetwomay

well

becomeeffectivelysynonymous—inmuchthesamewayaswe

could

already

argue

that“InsurTech”is

itself

a

meaningless

label,

because

all

insurers

are

technology

businesses

now.Thefinancial

marketsfollow,andinvestmentsfromthewidersocietybegin.

Inamongthenoise,developmentdoesoccur,

and

winnersarecreated—infrastructureandtoolsare

rolledout

and

usedinindustry.Thereisthenthe

inevitableslowdown

(often

acrash)wheninvestorsrealizethataprice

correction

is

incoming(asindividual

companiesreleasetheirfinancials).

Butovertime,theseedssewnintheseearlyphasessetthe

pathfor

long-termimpactandultimatelysuccess.AIin(re)insurance

is

nodifferent

—weshouldjustbehonestaboutwhatisgoingonwithout

taking

oureyeoffthelong-term

prize.Onelong-termquestionthattheindustrymustconsider

is

the“returnoninvestmentparadox”.Asshown

below

in

Figure1,thisarises

intwostages.

In

Phase1,anewtechnologydeliverspromisedefficiencygains,butin

Phase2,this

fails

to

lead

toimprovementsinoverall

productivityorprofitability.Thinkofitasthe“sowhat”problem

—

freeing

up

people's

time

isvaluable,butfailingtoprovidecleardirectionon

howto

utilize

thenewlyavailabletime(orresources)represents

an

incomplete

implementationofAI.SoitmightseemstrangethatInsurTechinvestinghasexperienced

aperiodofcomparativestabilitywhileinterestinthebroaderAIsectorhassoared.Theextenttowhichthetwoarecorrelatedremainstobetested.Butaswenotedinourprior

report,forthepastthreeyears,almosteverysinglequarterofInsurTechfundinghasfallenwithina10%swingofthemeanaverage(overthesameperiod

of

time):approximately

USD1.1B.This

consistency

is

quiteremarkableinthecontextoftheaforementionedexcitementoverAI.Figure1:The

Returnon

Investment

ParadoxWhereandwhatisthereturn?Phase1Phase2Whatdowedowithoursavedtime?Howdoweredeploypeople?Wheredoesgrowthcomefrom?EfficiencyGainsImprovedSpeedsLowerCostsBetterEngagementIntroduction7162148

150132118962025sawanotablereboundin

InsurTech

funding

overall.Investment

intothesectorrose19.5%yearonyearto

USD5.08B,markingthefirstannual

increasesince2021.Thiswasdriven

in

part

by

Q4global

InsurTech

funding

surging

by66.8%,from

USD1.01BinQ3’25to

USD1.68B

in

Q4’25.In

P&C

InsurTechfunding,theyearonyearrecoverywas

evenmorestriking,witha34.9%increasefrom2024’slow

to

USD3.49B

in2025.Therewasasmall

declineinfundingto

L&Hcompanies.Meanwhile,across

both

P&C

and

L&H

InsurTechs,

investorscontinuedtotiltinfavorofcompaniesthatsupplystandalone

technology—asopposedtothosewhopitchthemselvesas

tech-enabledbrokersand

MGAs.ThedominanceoftheUnitedStatesinthe

insurance-technology

industrycontinued,andevenexpanded.Theglobal

deal

shareof

US

InsurTechs

rose5.16

percentage

points

between2024and

2025—thelargestgainamongall

countries.Andtwo-thirdsoftheyear’s

InsurTechfundingwenttocompaniesfocusedonAI–accountingforoverUSD3.3Bacrossalmost

230

deals,

anddemonstratingjusthowinvestedourindustryis

inthistechnology.2025’soverall

fundingincreasewasprimarilyduetoanear-doubling

in

the

number

of

USD100M-plus

mega-round

deals,from6to11.This

also

increased

mega-round

funding

by53.2%YoY,from

USD930MtoUSD1.43B.Overall,therewasa6.4%increase

indeal

count,from

344in2024to366in2025.Althoughmodest,thedeal

countincreasereversedthesteadydeclineseensince2021’speak.Averagedeal

sizealsoincreasedby14.0%yearonyearto

USD15.79M.Early-stage

InsurTechfundingcounteredthebroadertrend,declining9.1%yearonyearfrom

USD1.22B

in2024

to

USD1.11B

in

2025.

Followingasimilartrajectory,early-stage

InsurTechdealcounttickeddownfrom193dealsin2024to185

in

2025.

Even

so,

theaverageearly-stagedeal

size

increased12.1%to

USD6.6M

in2025,indicatingcontinuedmomentumforearly-stage

InsurTechs

thatdidraisefunding.Thecountofactive

investors

in

InsurTech

alsoincreasedforthefirsttimesince2021,froma

recent

lowof

788in2024to

852

in

2025.GlobalInsurTechfunding

rose19.5%yearonyearfromUSD4.25Bin2024to

USD5.08Bin2025,marking

thefirstannualincreasesince2021.AchangingoftheguardamonginvestorsTherehasbeena

notableshift

inthe

InsurTech

investorcommunity.During2025,(re)insurersmade

more

privatetechnologyinvestments(into

InsurTechs)thaninanyotheryear20122013201420152016201720182019202020212022202320242025Year Q1Q2Q3Q410566294onrecord.Thissuggeststhat(re)insurersare

not

only

morecomfortableinvesting,butalsothattheysee

InsurTechsasa

route

forwardintheirownstrategies.PrivateTechnology

Investmentsby(Re)InsurersIntroduction170160150140120100806040200Numbe

rof

deals10510711981Q4’25sawthemostfundingsinceQ3’22(USD2.35B).

P&C

ledwith

a90.5%quarteronquartersurgetoUSD1.31B,

while

L&H

climbed

14.9%to

USD361.52M.Over100

InsurTechs

raisedfundingforthefirsttimesinceQ1’24,withdeal

countup34.2%quarteron

quarter

to102and

average

deal

size

up20.0%

to

USD18.84M

in

Q4’25.Fivecompaniessecured

USD662.81M

inmega-rounds:•CyberCube

(USD180M

Growth

Equity)•

ICEYE

(USD174.81Series

E)•

Creditas(USD108M

Series

G)•

Federato(USD100M

Series

D)•

Nirvana(USD100M

Series

D)Early-stagefundinghitan11-quarterhigh,

risingfromUSD277.65M

in

Q3’25to

USD403.09M

in

Q4’25,with

both

P&C

andL&Hcontributing.58%of

P&Cdealswentto

InsurTechs

inthe

B2Bcategory

in2025,

a12-percentagepointincreasefrom2021’sfundingboom.

At

the

sametime,deal

shareto

InsurTechsintheleadgen/broker/MGA

categoryfell

from42%in2024to35%in

2025

—

the

lowest

onrecord.

L&H

InsurTechsaccountedfor64%of2025dealsin

the

B2Bcategory,amodest1-percentage-pointuptickfrom2024.Inthe

fourthquarter,globalInsurTechfunding

surged66.8%,fromUSD1.01BinQ3’25to

USD1.68BinQ4’25.P&CInsurTechfundingreboundedfrom2024’slow,

increasing34.9%yearon

year

toUSD3.49Bin2025.Mega-roundsfueledP&C’srebound,withfundingup

fromUSD320M

in2024to

USD1.06B

in2025anddeal

countrising20%

to264.Unlike

P&C,

L&H

InsurTechfundinganddeal

countdeclined

in2025—fundingdipped4.6%yearonyearto

USD1.59B,

whiledeal

countfell

17.7%yearonyear

to

102.Techvendorssawrecord-high

dealsharesacrossP&CandL&HInsurTech.Introduction9Evenso,inthefourthquarterof2025,thenumber

ofventureinvestmentsby(re)insurancecompaniesdecreasedby15

—

from

51

in

Q3’25to35

in

Q4’25.

US-based

companies

accounted

for16

ofthese35investments.Japan,theUnitedKingdom

and

Francealsosawmultipletechinvestmentsfrom(re)insurancecompanies.

MitsuiSumitomo

Insuranceledcorporateventureactivityamong

(re)insurersinQ4’25withnineinvestments

across

its

venture

arms.NotablepartnershipsfromQ4’25betweentechcompanies

and(re)insurersincluded:•Certificial

andZurich

North

America•

CyberCubeand

MSAmlin•

SalesforceandSinglife•

ZestyAIandTruStageSpecifically,the

United

States'deal

share

increased

from50.58%in2024to55.74%in2025.Anincreaseindeal

makingto

SiliconValley-basedInsurTechsunderscoredthistrend,withdeal

sharerisingfrom8.72%to16.12%overthesameperiod.2025markedthethirdconsecutiveyearinwhichamajorityofdealswenttoUnitedStates-basedInsurTechs.OtherthantheUnitedStates,only

Bermuda

saw

its

deal

share

increase

by

more

than

one

percentagepointyearonyear.Indiaexperiencedthelargestpercentage-point

decrease

among

all

countries

in

global

InsurTech

deal

share,falling1.99%from5.81%in2024to3.83%in2025.Other

nationswiththelargest

deal

share

decreases

within

InsurTech

between2024and2025were:•••••France:-1.42%,from5.52%

to

4.10%Canada:-1.01%,from3.20%

to

2.19%Germany:-1.01%,from3.20%

to

2.19%Switzerland:-.92%,from1.74%to

.82%Netherlands:-.91%,from1.45%to

.55%77.9%ofQ4’25InsurTech

fundingwent

to

AI-centeredcompanies.TheglobaldealshareofUnitedStates-basedInsurTechsrose5.16percentagepointsbetween

2024and2025—

thelargest

gainamongallcountries.AI-centered

InsurTechs

raised

USD1.31Bacross66deals

inQ4’25,with

an

average

deal

size

of

USD22.14M—slightly

above

theoverall

Q4’25average.Throughoutthewholeof2025,AI-centered

InsurTechs

raised

USD3.35B

across227deals—66%

of

fundingand62%ofdeals,

respectively.Life,accidentandhealth-

focusedInsurTechshave

raisedatotalUSD25.15B

infundingsince2012.2025saw

162

ventureinvestmentsintechby

(re)insurancecompanies

—arecordhigh.Thisfundingspans1272deals,whichaccountsfor32.6%ofalldealsinthisperiod.Amonginvestors,Y

Combinator

has

ledthe

packwith105investmentssince2012,followedby

Plugand

Play

Ventures(86investments)andAnthemis(64investments).Introduction10DEALCOUNTP&CL&HTotalMethodological

note—whatdoweconsideran"InsurTech

investment?"Foranalysisinthisreport,weconsiderequityfunding

into

privatecompanies

only.

Funding

rounds

verified

by

the

end

of

the

quarterareincluded.Fundingroundsareverifiedvia

(1)variousfederal

and

state

regulatory

filings;

(2)

direct

confirmation

with

thefirmorinvestor;(3)press

releaseor

(4)

credible

mediasources.

Investment

from

accelerators,

incubators,

business-plancompetitionsandeconomicdevelopmententitiesareexcluded.Assuch,therearesomedealsthat

might

constitute

a

raise

inothercircumstancesthatwedonotconsiderin

our

data.

Consequently,

the

numbers

and

data

we

do

present

should

be

consideredaminimumbenchmark.

4,1674,506

4,2545,0822,7211,742

2,274Annual(andYTD)Total

InsurTech

FundingVolumeandTransactionCountw

FundingVolume

L&HmmFunding

Volume

P&CDeal

Count

L&HDealCount

P&CDEALCOUNTP&C17

13

16

2144

18

33

2926

38

29

45444740

4158

50

52

4173

54

74

75107

119

8010110692

89

717674

90

7670

54

49

4770

59

5877L&H

1119

152016

17

6

1317

31

21

1124

26

172329

19

31

3423

20302839

43

34

4137

4051

3530

23

29

2437

28

28

312732

18

25Q1

Q2

Q3

Q4Q1

Q2

Q3

Q4Q1

Q2

Q3

Q4Q1

Q2

Q3

Q4Q1

Q2

Q3

Q4Q1

Q2

Q3

Q4Q1

Q2

Q3

Q4Q1

Q2

Q3

Q4Q1

Q2

Q3

Q420162017201820192020202120222023202418,00016,00014,00012,00010,0008,0006,0004,0002,000020152016201720182019202020212022202320242025IntroductionQuarterly

InsurTech

FundingVolume—AllStages4504003503002502001501005006,0004,0002,0000mmLifeandHealth

mmPropertyandCasualtyFundingVo

l

ume

in

USD

MillionsQ1

Q2

Q3

Q42025Q1

Q2

Q3

Q42015(In

USD

millions)

6,348407157564220124344264102366316106422Deal

Count172902623581635212761013771,0911,0051,0981,1032011133141388021812452176676513237630023327115,7997,9974,8247,1081,0005,2962,3482,5382,2251,5042,5521,3092,1001,4432,4101,8651,3891,6761,9871,5581,2581,3791,2741,0143,1271,4141,59168859232882563372518031441291291291711Theoryof

mindNarrowintelligenceGeneralintelligenceDeep

learning

Speech

recognitionInapplyingthesemostrelevanttechnologiesthroughourframeworkbelow

(determiningthetypes

of

outputs

required,the

scope

of

complexitythroughthevaluechainofourindustry),wehopethe

reader

finds

the

process

of

AI

tool

selection

far

less

daunting.DataentryandclassificationAutomationMachine

learningTextanalyticsNaturallanguagegenerationAdvanceandpredictiveanalyticsDecisionmanagementReactivemachinesRoboticsSelf-awareBiometricsLimitedmemorySearchenginesAI-optimizedhardwareImagerecognitionAframeworkforapplyingAItoinsurance:

A

brief

recapAsareminder,AIisparticularly

good

at

processing

highlypredictable,repetitivetasksatspeed—particularlywhen

it

istrainedtolookforoutliersandanomaliesandinstructingthehumaninthelooptofocustheirtimeandattentiononthosethings.Asunderwhelmingasitmightbe

to

read,

the

AI

tools

that

drivethecranksandgearsofrepetitiveworkwill

almostcertainly

delivermorevaluetoourindustrythangenerativeAItools.Thehumanspiritandcreativityarenotwhat

needsto

bereimaginedandreproduced—itis

giving

humans

the

time

and

spacetodosothat

iscritical.Perthebelow,machinelearning,dataentry,

predictive

analytics,

Largelanguagemodelsandautomationseemtobe

havingthe

greatestimpactonour

industry.Figure2:Opportunity:WhereAIisCurrently

Being

Used

in(Re)InsuranceQuickestimpact(withROIinmind)isinautomatingtaskspreviouslyundertakenbyhumansintheclaimsspaceFigure3:Spread

Mapof

MostApplicableAITechnologiesLargelanguage

modelsMachinelearning:Developmentandstudy

ofstatistical

algorithms

thatcan

learnfromdataandgeneralizeto

unseendataandthus

performtaskswithout

explicitinstructions.Largelanguagemodels:AImodelstrainedonvastamounts

oftextdatatogenerate

human-likelanguageandunderstandnatural

languageprocessingtasks.Automation:Functioningofcorporateprocessesduetothemimicking

ofhumantasks

andthe

automationofthem.Advancedandpredictiveanalytics:AItechniquesusedto

analyzedataandmake

predictionsorforecasts.Dataentryandclassification:Theprocessofinputtingandcategorizingdata

usingAIalgorithms.23415IntroductionDigitalassistantsChatbot12Narrow

AIAPPLICATIONSDistributionPricing/UnderwritingCentralBusinessOperationsClaims/SettlementSuper

AIHumanInspiredAIHumanizedAIPurelyReactiveAILevelofsophistication

Figure4:A

FrameworkforSelectingAIToolsApplicationtothecore

(re)insurancevaluechainIntroductionDATA

COLLECTIOTheoryof

MindAIOutput/functionalityLimitedMemoryAIAnalyticalAIANA13ISelfGI-AerlwreeaanAIinLife,Accidentand

Health

InsuranceConcludingthethemeofour2025seriesofreports,thisfinal

editionfocuseson

thefourthmajorclassofbusinessthatdominatesglobal

grosswrittenpremium

(GWP)insurancesales:Life,AccidentandHealth(LAH)

insurance.Inthisreport,wewill

explorethetransformativeimpactofAI

onthis

class

—

marking

the

first

time

we

have

ventured

beyond

the

realm

of

P&Cinsurance.Wewill

lookat

InsurTechscollaboratingwithincumbent

carriersto

enhance

the

development

of

insurance

products,

aswell

asexaminingthoseinnovativebusinessesofferingtheir

ownstandalonesolutions

in

the

LAH

space.4

Distribution

Risk

Core

Claims

Q1Q3Q4Auto/MotorPropertyCommercialLife,AccidentandHealthSpecifically,we

will

be

assessing

the

various

ways

in

which

AItechnologyandInsurTechareattemptingtorevolutionizethismajor

lineof(re)insurancebusiness,theextenttowhichtheyhavebeen

successful

andtheexpectationsforthefuture.Broadlydefined,lifeinsuranceoffersfinancial

protectionagainst

thedeathofanindividual

byprovidingamonetarypaymenttoa

designatedbeneficiary.Ontheotherhand,accidentandhealthinsurance

encompasses

coverage

for

accidental

death

or

personalinjuryresultingfromaccidents,aswell

asprotectionagainstsickness,ailments

or

bodily

injuries.Finally,

LAH

business

can

alsoencompassannuitiesandotherinvestmentproducts,designedto

provideasteadyincomeduringretirement.WhilethesearethethreedistinctiveclassesofLAHbusinessRelative

to

P&C-related

InsurTech,there

is

alackof

readilyavailableinformationontheLAHInsurTechspace,despiteInsurTechs

in

LAH

having

raised

nearly

USD25B

in

funding

over

thepast

fifteen

years.As

a

USD5T

global

industry,LAH

is

certainly

anattractivepropositionforInsurTechandAIfirmsthatarelookingto

leveragetheirtechnologytosupportincumbentplayersororiginate

riskthemselves.Ingeneral,mostcountriesthathaveamatureLAH

marketareexperiencingageingpopulationsandshiftsinlifestyleandenvironmentchoices,whichcanworktogethertoraisetheriskprofilesofinsuredindividuals.Asaresult,“lowerrisk”individuals

arearguablybeingpenalizedfortheoverall

trendofhumansliving

longerandpotentiallymakingbadlifech