Insurance Technology Funding by Type – Q4 2016

The following two graphs summarize the types of funding going into the Insurance Technology space. Please note these graphics are made using 2016 data through October.

InsurTech Funding by Type by Year - Amount
InsurTech Funding by Type by Year – Amount

The graph above shows the total amount of VC funding broken out by type. In recent years, we’ve seen a large increase in the amount of Series A and Series C funding events. The amount of Series B and Series D funding events have seen some growth as well.

InsurTech Funding by Type by Year- Event
InsurTech Funding by Type by Year- Event
The graph above shows the total count of funding events broken out by type. We’ve seen a general upward trend over the past few years. Earlier stage deals (Seed, Series A, Series B) have seen the largest growth in the number of funding events.

We are currently tracking 1020 Insurance Technology companies in 14 categories across 54 countries, with a total of $17B in funding. Click here to learn more about the full Insurance Technology landscape report and database.

Venture Investing In Insurance Technology – Q1 2017

Venture Investing In Insurance Technology - Q1 2016
Venture Investing In Insurance Technology – Q1 2016

The above graph compares the total venture funding in each Insurance Technology category to the number of companies in the category. The Health/Travel Insurance category leads the sector in total funding at $9B. The Insurance Comparison category takes the lead in company count, with around 275 startups.

We are currently tracking 1,014 Insurance Technology companies in 14 categories across 54 countries, with a total of $17B in funding. Click here to learn more about the full Insurance Technology landscape report and database.

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.

Average Funding by Insurance Technology Category – Q4 2016

insurtech-average-funding

The above analysis summarizes the average company funding in each Insurance Technology category. The Life, Home, and P&C category leads the sector with around $350M in average funding per company, followed by the Auto Insurance category with just over $200M in average funding per company.

We are currently tracking 1,010 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 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.

Insurance Technology Market Overview – Q4 2016

Insurance Technology Sector Map
Insurance Technology Sector Map
The above sector map organizes the Insurance Technology sector into 14 categories and shows a sampling of companies in each category.

Auto Insurance: Companies that offer insurance for automobiles and motorcycles, as well as those that facilitate the process of auto insurance. Examples include car telematics products which detect your mileage and driving behavior to customize your insurance plan.

Consumer Insurance Management Platforms: Companies that enable consumers to manage their insurance and claims, usually through a mobile application. Examples include mobile apps that allow consumers to file claims right at the spot of the car accident, and to buy travel insurance on the go.

Employee Benefits Platforms: Companies that help enterprises build or utilize platforms that deliver healthcare and other insurance products to their employees. Examples include web portals through which enterprises can sign in and give their employees the option of buying several healthcare packages.

Enterprise/Commercial Insurance: Companies that offer insurance plans for large/medium/small-sized businesses and enterprises. Examples include insurance plans for startup founders and freelancers, insurance for large enterprises such as liability insurance, and workers compensation insurance.

Health/Travel Insurance: Companies that offer health and/or travel insurance, either for individuals or for businesses. Examples include health insurance plans that are customizable to your exact needs, and travel insurance that can be adjusted based on where you are.

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

Insurance Data/Intelligence: Companies that collect, process, and analyze data analytics and business intelligence for the insurance industry. Examples include background checks on an individual’s history to determine insurance eligibility, or inspections on a real estate property for potential risks.

Insurance Education/Resources: Companies that offer educational material and resources that give information about how insurance works. Examples include news outlets focused on the insurance industry, and community forums that exchange knowledge of insurance between individuals.

Insurance Infrastructure/Backend: Companies that either underwrite insurance policies or help insurance companies with their day-to-day operations. Examples include insurance underwriters, CRM for agents and lawyers, communication tools, and claim filing tools.

Insurance User Acquisition: Companies that help insurance companies acquire and manage new leads and clients. Examples include platforms that are specifically designed for marketing insurance policies to potential customers, and those that record and manage insurance companies’ customers.

Life, Home, Property & Casualty Insurance: Companies that offer life, home, and property & casualty insurance, as well as other kinds of insurance such as renters, disability, and marriage insurance. Examples include websites that offer life, home, and P&C insurance in packages.

P2P Insurance: Companies that 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 (such as a car, house, or media equipment). Examples include P2P insurance platforms in which a group of bicyclists jointly buy insurance for all of their bikes.

Product Insurance: Companies that offer insurance and warranties for products that consumers purchase, from tech gadgets to diamonds. Examples include insurance plans for your smartphone in case it is stolen or is broken.

Reinsurance: Companies that provide insurance for other insurance companies. Examples include companies that offer insurers coverage to mitigate and manage their risks.

We are currently tracking 982 Insurance Technology companies in 14 categories across 53 countries, with a total of $16.6 Billion in funding. Click here to learn more about the full Insurance Technology landscape report and database.

Connected Insurance Technology Overview

Our blog has moved! To see this blog post on our new blog, check out http://www.venturescanner.com/blog/2016/connected-insurance-technology-overview

A deep dive look at the connected insurance technology sector, providing an insurance startup map, trends/insights, and relevant company profile examples.

We are currently tracking 981 Insurance Technology companies in 14 categories across 53 countries, with a total of $16.5 Billion in funding. Click here to learn more about the full Insurance Technology landscape report and database.