In terms of products, the P&C sector will be the most productive, generating revenues of more than $32.000 million. Risks related to climate change, pandemics, and cybercrime are real and widespread; insurance companies are ready with ad hoc products.
Distribution channel: the broker channel will benefit the most by producing revenues of $24.700 million, driven by growing demand for home, health and auto products.
The Asia-Pacific region, characterized by emerging economies, will offer ample opportunities with an estimated compound growth rate (CAGR) of 30,2%. In addition, insurance companies in this region are expected to turn to digital insurance platforms due to the increasing use of cloud technologies and the rise of internet users in these areas.
Narrowing the focus to Italy, there was 250 million euros of investment in 2022 in the second half of the year, which brings last year's total to 450 million euros. This is a very positive result compared to the 280 million invested in our country at the end of 2021. The Italian Insurtech Association estimates 1000 million euros in new investments by 2023.
Of the 450 million invested in 2022, 250 went to support internal innovation projects within insurance companies, 120 million in collaborations with tech companies and 80 million in innovative startups.