The global insurance industry experienced a 76% drop in company filings mentions of insurtech in Q3 2023 compared with the previous quarter, with the highest share accounted for by Fubon Financial with 25% year-on-year decrease, according to GlobalData’s analysis of over 34 insurance company filings. GlobalData’s Insurance: Filings Trends & Signals Q3 2023 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 Q3 2023, ranking highest in terms of mentions, ahead of metaverse and autonomous vehicles, according to GlobalData.
Of the top leading companies in the insurance industry, Fubon Financial had the greatest increase in references for insurtech in Q3 2023, compared with the previous quarter. GlobalData identified 18 insurtech-related sentences in the company's filings - 0.8% of all sentences - and a decrease of 25% in Q3 2023 compared with Q3 2022. Cathay Financial’s mentions of insurtech rose by 267% to 11 and SBI Life Insurance’s by 13% to 7 and Everest Group’s by 200% to 3 and Bajaj Finserv’s by 100% to 2.
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 Q3 2023 was 91.
For further understanding of GlobalData's Insurance: Filings Trends & Signals Q3 2023, 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.
