InsurTech Talent Trends 2025
Insights from the latest Global InsurTech Report to guide your executive recruitment strategy
Market Trends in 2025
Understanding the current state of the InsurTech market to align your talent acquisition strategy
$4.25B
Total global InsurTech funding in 2024
5.6%
Year-on-year decrease in funding
344
Total InsurTech deals in 2024
34.6%
Deals involved AI-centered InsurTechs
UK Emerges as Key Market
The UK has solidified its position as the world's second-most significant market for InsurTech in 2024, with 9.3% of deals involving UK-based companies. This represents a rise of almost 2 percentage points from 2023, marking the largest gain among all countries.
Market Maturation & Sustainable Growth
2024 has marked a pivot into greater sustainability in the InsurTech sector. The industry is moving away from growth-at-all-costs to a focus on profitability and core goals. This shift requires leaders who can navigate a more disciplined business environment while maintaining innovation.
Strategic Investor Shift
While overall funding has decreased, investments from traditional insurers have reached an all-time high with 150 deals. This indicates a flight to quality, with entrepreneurs seeking investors with deep insurance industry knowledge who can accelerate development.
Quarterly Funding Volatility
Q4 2024 marked the lowest quarter for global InsurTech funding since Q2 2018, with total funding halving from $1.38B in Q3 to $688.24M in Q4. Companies need leadership that can navigate financial uncertainty and longer fundraising cycles.
Key Leadership Skills for InsurTech
Essential competencies executives need to navigate the evolving landscape
AI Integration Expertise
With 42.3% of Q4 2024 InsurTech deals involving AI-centered companies, executives must understand how to effectively implement and leverage AI technologies within insurance operations.
Strategic Data Management
The importance of good data management for AI initiatives cannot be overstated. Executives must understand how to structure and leverage data to train models and benchmark outputs.
- Data governance expertise
- Privacy compliance knowledge
- Data architecture understanding
- Analytics implementation skills
Value Articulation
Leaders must clearly articulate business objectives without becoming fixated on specific technologies. The ability to define value propositions and ROI models is crucial.
- ROI modeling expertise
- Business case development
- Stakeholder communication
- Technology translation skills
Technology Implementation
The strategic choice between building, buying, or renting technology solutions requires leaders who understand both business needs and technological capabilities.
- Vendor evaluation expertise
- Integration management
- In-house development oversight
- SaaS implementation experience
AI Impact on Claims & Key Industry Roles
Understanding how AI is transforming insurance operations and talent requirements
AI Applications in Claims Management
50% of Q4 2024 InsurTech deals involved companies with a focus on claims, making this a critical area for talent recruitment.
Digital FNOL Revolution
Executives need to understand how AI-powered chatbots can manage up to 80% of personal claims, with Gartner predicting 85% of customer interactions will be chatbot-managed by 2030.
Pattern Recognition & Risk Assessment
Leaders must grasp how AI fraud detection systems use machine learning to automatically detect suspicious patterns and help fraud investigators prioritize claims more efficiently.
Cognitive Decision Engines
Executives should understand how cognitive service decision engines interface with administrative systems to analyze claims data and determine payment amounts.
Parametric Insurance Solutions
Leaders need to comprehend how parametric insurance utilizes "always-on" digital systems with forecasting and monitoring technology to trigger automatic payments based on specific events.
People-Centric AI Leadership
According to Joe Powell, Chief Digital Officer at Gallagher Bassett, successful AI implementation requires leaders who focus on improving claim outcomes and client service rather than just cost reduction. The key is supporting claims professionals with AI that removes low-value tasks, improves communication, and provides decision support for critical decisions.
Source
This analysis is based on data from the Gallagher Re Global InsurTech Report Q4
