The global insurance industry experienced a 36% drop in company filings mentions of insurtech in Q1 2024 compared with the previous quarter, with the highest share accounted for by Progressive with 54% year-on-year decrease, according to GlobalData’s analysis of over 79 insurance company filings. GlobalData’s Insurance: Filings Trends & Signals Q1 2024 report delves into earnings call transcripts and quarterly reports within the insurance industry, extracting trends, signals, and comparative data to help businesses assess their performance, identify competitive intelligence, evaluate risks, and gain a comprehensive understanding of key industry events. Buy the report here.
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Notably, insurtech was one of the most frequently referenced themes in Q1 2024, ranking highest in terms of mentions, ahead of online travel and regtech, according to GlobalData.
Of the top leading companies in the insurance industry, Progressive had the greatest increase in references for insurtech in Q1 2024, compared with the previous quarter. GlobalData identified six insurtech-related sentences in the company's filings - 0.9% of all sentences - and a decrease of 54% in Q1 2024 compared with Q1 2023. Loews’s mentions of insurtech to 5 and CNA Financial’s by 25% to 3 and Markel Group’s by 200% to 3.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for insurtech in Q1 2024 was 80.
For further understanding of GlobalData's Insurance: Filings Trends & Signals Q1 2024, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Company Filings Analytics uses machine learning to uncover key insights and track sentiment across millions of regulatory filings and other corporate disclosures for thousands of companies across the world’s largest industries.
