Many insurtech startups will recalibrate their strategy in 2023 to fit changing macroeconomic environment and funding cycles. (eamesBot/Shutterstock) Many insurtech startups will recalibrate their strategy in 2023 to fit changing macroeconomic environment and funding cycles. (eamesBot/Shutterstock)

The global insurtech market was valued at $3.85 billion in 2021, according to Grand View Research, and is expected to double in the next decade. Despite this anticipated growth, the industry is set for meaningful turmoil and consolidation in the year ahead.

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