In Italy there are 130 innovative Insurtech realities that in 2021 have raised 120 million euros. These are the data of the research of the Fintech & Insurtech Observatory of the Politecnico di Milano School of Management, presented at the conference "Fintech & Insurtech: it's time to focus on collaboration!". 

An analysis that shows how the Italian Fintech and Insurtech ecosystem is close to a turning point, and that it is not yet fully established according to its actual potential, but certainly in great expansion. The amount of capital raised is encouraging, but the active operators are still too few. Access to Fintech and Insurtech funds is limited, foreign Venture Capitals and funds have not yet recognized the high potential of our realities. Moreover, in addition to capital, more skills and training are needed.

Yet the Italian insurance industry is one of the oldest in the world and weighs 7% of the total national GDP, and Italy is the seventh largest insurance market in the world. Narrowing the focus on Insurtech, 66% of the companies in this industry are located in Northern Italy, 28% in Central and Southern Italy and a small share of 6% are based abroad. Regarding the geographical distribution of the capital raised, more than half is located in the North.

Insurtech is a very important opportunity for our country, and the insurance industry is a sector that is experimenting with digitalization and is increasing the penetration and complexity of the services offered. We know that the digital factor allows to propose to the consumer an offer that is perfectly customized to meet his/her specific needs, is transparent, is price competitive and instantaneous.​

The Italian insurance industry accounts for 7% of total national GDP. In 2021, 120 million have been invested in Insurtech, compared to 50 million in 2020. A slow growth, but the premises are encouraging

A growth that does not concern only Italy but that extends worldwide: in the first half of 2021, global Insurtech investments were higher than in 2020, amounting to 7.5 billion euros on about 350 deals. Within this context, Italy is progressing, albeit slowly, with about 120 million euros invested, including not only investments in startups, but also those in technologies made by the main players in the market. In 2020, about 50 million were invested, but we are still not approaching the European average.

National and European institutions seem interested in Insurtech: we see it in the European Insurance and Occupational Pensions Authority (EIOPA) with projects for open insurance and embedded insurance, and for technological resilience, which will raise the bar on cybersecurity.

Publicization and awareness of all industry players and sector insiders also play an important role: the public debate within the Insurtech industry has grown, involving all stakeholders, both institutional and market stakeholders, in every part of the value chain.

On the other hand, regarding the weaknesses of the sector, there is a need to plan much more personnel training and to attract talents by promoting the creation of innovative work environments, to offer remuneration in line with the international market and to schedule detailed and punctual internal training programs for the teams involved to grow.

In the coming years, the amount of investment will certainly grow, causing more pressure on the labor market to recruit digitally skilled professionals, just as the supply of digital insurance will increase.

In summary, we need more startups, investments, skills and more experimentation, even bold experimentation, within the supply chain, but the outlook is positive and very encouraging.



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