Last quarter we discovered that the insurance technology sector is showing early signs of maturation. This quarter we are delving deeper on our insurtech report and research platform to examine funding by category. From this analysis, we conclude that the Insurance Comparison and Health Insurance categories lead the sector in category funding.
This conclusion comes from three key observations:
- Insurance Comparison leads the sector in Q2 funding
- Health Insurance dominates all-time insurtech category funding
- Insurance Comparison has the highest funding growth percentage
We’ll explain these key observations with some graphics and discussions below.
Insurance Comparison Leads Insurtech in Q2 Funding
To start off, let’s study the insurance technology funding amounts by category in Q2.
The above graphic shows that Insurance Comparison leads the sector in Q2 2018 funding. Insurance Comparison raised the most funding last quarter with $323M. Health Insurance came in second with $294M.
So we’ve witnessed how different insurtech categories stack up in their Q2 funding. But how do these categories’ funding compare with each other historically? Let’s investigate that in the next section.
Health Insurance Dominates All-Time Funding; Insurance Comparison Grew the Fastest
The graph below summarizes the all-time funding in insurtech categories as well as their funding growth percentages.
Without a doubt, the bar graph demonstrates that Health Insurance leads in all-time funding with $11B. It’s also notable that its funding is 130% more than the next category–Life, Home, P&C Insurance–which has over $8B.
The line graph in the above graphic indicates that Insurance Comparison funding grew the fastest quarter over quarter with a growth percentage of 18%.
Conclusion: Insurance Comparison and Health Insurance Are At Forefront of Insurtech Funding
In summary, we have analyzed the insurtech funding amounts in different insurtech categories. Insurance Comparison leads in last quarter’s funding. We also observed that Health Insurance dominates the sector in all-time funding, while Insurance Comparison funding had the highest growth percentage in Q2. It’ll be interesting to see if any other insurtech categories will catch up and take the lead in the rest of 2018.