09 Ratio of deal volume in InsurTech vs FinTech 0.3 The overall trend seems clear though. Investment in InsurTech propositions is growing as the sec- 0.25 tor matures. This growth has seen InsurTech catch up further with the banking focussed FinTech sector. 0.2 Indeed, Tshidi Hagan of Old Mu- tual argues that this has been the year that InsurTech has ‘emerged 0.15 from the shadows of FinTech’ and become ‘a sector in its own right’. 0.1 The figure on the left illustrates this point. Five years ago, for every in- vestment in InsurTech there were 0.05 nearly ten in FinTech, by 2016 the figure had dropped to just under four. InsurTech is catching up with 0.0 FinTech. 2012 2013 2014 2015 2016 Source: CB Insights