The InsurTech industry is facing what experts say is a “leveling out period” after investment in the space accelerated during the pandemic due to changes in the workplace and a greater focus on the use of technology.

“We’re in this leveling out period,” said Chris Cheatham, product evangelist at Bold Penguin. “I don’t know what to call this period yet, because I think we’re still seeing the market shake out. This period right now is different. This is not pandemic. I don’t even know what to call it because I don’t want to try to name this particular economic moment, but you’re seeing valuations come down.”