Insurance Technology Exits by Category and by Year – Q2 2017

The following graphs highlight the exit activity in the Insurance Technology sector. The graphics include data through April 2017.

Exit Activity by Category in Insurance CExit Activity by Category in Insurance Technology
Exit Activity by Category in Insurance Technology

The above graph summarizes the number of exits (acquisitions and IPOs) in each Insurance Technology category. The Insurance Backend category leads the sector with 28 acquisitions and 4 IPOs. The Insurance Comparison category is the runner-up with 17 acquisitions and 7 IPOs.

Exit Activity by Year in Insurance Technology
Exit Activity by Year in Insurance Technology

The above graph summarizes the number of exits (acquisitions and IPOs) in Insurance Technology by year. 2016 currently leads the sector with 33 acquisitions. 2014 and 2015 are the runner-ups with 15 exits each.

We are currently tracking 1281 Insurance Technology companies in 14 categories across 62 countries, with a total of $18.5B in funding. Click here to learn more about the full Insurance Technology market report.

Insurance Technology Activity by Selected Investors – Q4 2016

Insurance Technology Activity by Selected Investors

The above analysis summarizes the total number of investment rounds Insurance Technology investors participated in, and the number of unique InsurTech companies funded by selected investors. 500 Startups and NEA take the lead the total number of investments, and 500 Startups also backing to most individual companies. First Round, Index Ventures, and Founders Fund are also players towards the top of the list.

We are currently tracking 1,010 Insurance Technology companies in 14 categories across 53 countries, with a total of $17 Billion in funding. Click here to learn more about the full Insurance Technology landscape report and database.

Insurance Technology Companies Founded by Year – Q4 2016

Insurance Technology Startups Founded by Year

The above graph summarizes the number of Insurance Technology companies founded in a certain year. 2015 ranks at the top with around 95 companies founded in that year alone. 2013 and 2014 are roughly tied for second, with just over 90 startups founded.

We are currently tracking 987 Insurance Technology companies in 14 categories across 53 countries with a total of $16.7 Billion in funding. Click here to learn more about the full Insurance Technology landscape report with database.

The State of Insurance Technology in Ten Visuals

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We cover many emerging markets in the startup ecosystem. We have previously shared a series of posts that summarized Financial TechnologyInternet of Things, Bitcoin, Artificial Intelligence, and MarTech in six visuals. This week, we do the same with Insurance Technology, but with 10 visuals.

At this time, we are tracking 535 Insurance Technology companies across 13 categories, with a combined funding amount of $4.63 billion. To see all of our Insurance Tech related blog posts, click here!

The ten Insurance Tech visuals below help make sense of this dynamic market:

  1. Market Overview: Breakdown of Insurance Tech into categories.
  2. Number of Companies Per Category: Bar graph summarizing the number of companies in each Insurance Tech category.
  3. Average Company Funding By Category: Bar graph summarizing the average company funding per Insurance Tech category.
  4. Venture Investing in Insurance Tech: Graph comparing total venture investing in Insurance Tech to the number of companies in each category.
  5. Global Breakdown of Insurance Tech: Heat map indicating where Insurance Tech companies exist.
  6. Median Age of Insurance Tech Categories: Bar graph of each Insurance Tech category by median age.
  7. Founding Date Distribution: Bar graph indicating the years in which Insurance Tech startups were founded.
  8. Funding by Vintage Year: Bar graph that indicates the level of funding in Insurance Tech startups by vintage year.
  9. Company Headcount Distribution: Bar graph distributing the number of Insurance Tech companies in different headcount ranges.
  10. Top Investors in Insurance Tech: Bar graph indicating which investors invest in Insurance Tech most frequently.

1. Insurance Technology Market Overview

Insurance Technology Visual Map.jpg

Product Insurance — These companies offer insurance/warranties for products that you purchase, from tech gadgets to diamonds.

Auto Insurance — These companies offer car insurance, including car telematics products which detect your mileage and driving behavior to customize your insurance plan.

Health/Travel insurance — These companies offer health or travel insurance, either for individuals or for businesses.

Life, Home, Property & Casualty Insurance — These companies offer life, home, and property & casualty insurance, as well as other kinds of insurance such as renters, disability, and marriage insurance.

Enterprise Insurance — These companies offer insurance plans for businesses, startups, freelancers, etc.

Insurance Comparison/Marketplace — These companies serve as a marketplace for consumers to buy insurance of any kind (car to home to health), or compare different insurance providers. These are 3rd party companies that don’t offer insurance plans themselves, but act as a brokerage agent between insurance providers and consumers.

Reinsurance — These companies provide insurance for other insurance companies.

P2P Insurance — These companies offer peer-to-peer insurance, in which a group of policyholders jointly pay for the insurance of an item that they mutually own, share, or rent (a car, a house, media equipment, etc).

Insurance Data/Intelligence– These companies collect, process, and analyze data analytics and business intelligence for the insurance industry.

Insurance User Acquisition — These companies help insurance companies acquire and manage new leads and clients.

Insurance Infrastructure/Backend — These companies help insurance companies with their day-to-day operations, including CRM for agents and lawyers, communication tools, claim filing tools, etc.

Insurance Investors/Education — These companies are investment firms that specifically invest and incubate new insurance companies, as well as resources that give information about how insurance works

Consumer Insurance Management Platforms — These companies offer platforms that enable consumers to manage their insurance and claims, including mobile apps that allow them to file claims right at the spot of the car accident.

2. Number of Companies Per Category

Insurance Tech Company Count (no cta).jpg

The bar graph above summarizes the number of companies in each Insurance Tech category to show which are dominating the current market. Currently, the Insurance Comparison/Marketplace category is leading the way with a total of 137 companies, followed by Insurance Infrastructure/Backend with 108 companies.

3. Average Company Funding By Category

Insurance Tech Average Funding (no cta)

The bar graph above summarizes the average company funding per Insurance Tech category. The Product Insurance category leads the way with an average of $63M per funded company. The Product Insurance companies offer insurance/warranties for products that you purchase, from tech gadgets to diamonds.

4. Venture Investing in Insurance Technology

Insurance Tech VC Investing Graph (no cta)

The graph above compares total venture investing in Insurance Tech categories to the number of companies in each category. While Health Insurance has the most funding at over $1.8B, it is Comparison/Marketplace and Infrastructure/Backend categories that have the most traction in total startups. It’ll be interesting to see if the funding in these categories grows in 2016.

5. Global Breakdown of Insurance Technology

InsurTech Geography Heatmap (no cta)

The following infographic is an updated heat map indicating where Insurance Tech startups exist across 47 countries. Currently, the United States is leading the way with 310 companies. The United Kingdom is in second with 40 companies followed by India with 18.

6. Median Age of Insurance Tech Categories

Insurance Tech Median Age (no cta)

The bar graph above summarizes Insurance Tech by median age of each category. The Life & Home Insurance category is the most mature category at a median age of 18 years, while P2P Insurance is the most emerging category with a median age of 1 year.

7. Founding Date Distribution

Insurance Tech Founding Dates (no cta)

The bar graph above shows the distribution of years in which Insurance Tech startups were founded. Over 50% of Insurance Tech startups were founded after 2011, while only 15% of the companies were founded before 2000.

8. Funding By Vintage Year

Insurance Tech Vintage Year (no cta)

The bar graph above shows the level of funding in Insurance Tech by vintage year. Insurance Tech startups founded from 2013-Present have received $1.5 billion in funding.

9. Insurance Tech Company Headcount Distribution

Insurance Tech headcount graph (no cta)

The bar graph above shows the distribution of employee headcount among Insurance Tech startups. 44% of Insurance Tech companies are startups with fewer than 10 employees, indicating that this is in the early stages of innovation.

10. Top Investors in Insurance Technology

Insurance Tech investor count (no cta)

The graph above summarizes which investors invest in Insurance Tech most frequently. Currently, 500 Startups leads the way with 6 investments, followed by Y Combinator and First Round with 5 investments each.

As Insurance Technology continues to develop, so too will its moving parts. We hope this post provides some big picture clarity on this booming industry.

Venture Scanner enables corporations to research, identify, and connect with the most innovative technologies and companies. We do this through a unique combination of our data, technology, and expert analysts. If you have any questions, reach out to info@venturescanner.com.

Number of Investments by Top Insurance Technology Investors

The following infographic summarizes the number of companies invested by the top Insurance Technology investors. You could see that 500 Startups is in the lead by having invested in 6 companies, followed by Y Combinator and First Round which each invested in 5 companies. At Venture Scanner, we are currently tracking over 535 Insurance Technology companies in 13 categories across 47 countries, with a total of $4.63 Billion in funding. To see the full list of 535 Insurance Technology companies, contact us using the form on www.venturescanner.com.

Insurance Tech investor count

Venture Scanner enables corporations to research, identify, and connect with the most innovative technologies and companies. We do this through a unique combination of our data, technology, and expert analysts. If you have any questions, reach out to info@venturescanner.com.

Insurance Technology Company Headcount Distribution

The following infographic summarizes the percentage of Insurance Technology companies in each headcount range. It shows that companies with 1-10 employees lead the market at 44%, followed by companies with 11-50 employees at 33%. Please note that this data is based only on Insurance Technology companies that have publicly available headcount data. We are currently tracking over 535 companies in 13 categories across 47 countries, with a total of $4.63 Billion in funding. To see the full list of 535 Insurance Technology companies, contact us using the form on www.venturescanner.com.

Insurance Tech headcount graph

Venture Scanner enables corporations to research, identify, and connect with the most innovative technologies and companies. We do this through a unique combination of our data, technology, and expert analysts. If you have any questions, reach out to info@venturescanner.com.

Insurance Technology Company Founding Date Distribution

The following infographic summarizes the founding date distribution of Insurance Technology companies to show the percentage of Insurance Technology companies that were founded within a specific time period. It shows that the founding of Insurance Technology companies reached its peak from 2014-Present, with 27% of the companies being founded during this period. Company founding was at the lowest in 2000-2001 and 2002-2003, with only 2% of the companies being founded during those four years. We are currently tracking over 535 companies in 13 categories across 47 countries, with a total of $4.59 Billion in funding. To see the full list of 535 Insurance Technology companies, contact us using the form on www.venturescanner.com.

Insurance Tech Founding Dates

Venture Scanner enables corporations to research, identify, and connect with the most innovative technologies and companies. We do this through a unique combination of our data, technology, and expert analysts. If you have any questions, reach out to info@venturescanner.com.