Insurance Technology Funding Trends – Q1 2017

The following graphs highlight recent trends in Insurance Technology (InsurTech) funding activity.

insurance-technology-funding-over-time

The above graph summarizes the total funding raised by InsurTech startups for each year. 2014 is the best year so far with just over $6B in funding. 2015 comes in at second place with just under $4B in funding.

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The above graph summarizes the total amount of funding raised by InsurTech companies founded in a certain year. Companies founded in 2013 have raised the most funding at around $2.6B, followed by those founded in 2014 which have raised about $1B.

We are currently tracking 1,022 Insurance Technology companies in 14 categories across 54 countries, with a total of $17 Billion in funding. Click here to learn more about the full Insurance Technology report and database.

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.

Insurance Technology Startup Exit Activity – Q4 2016

The following two graphs show exit activity in the Insurance Technology sector. The graphics include data through October 2016.

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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 Infrastructure category is leading the sector with 20 exits, followed by the Insurance Comparison and Life & Home Insurance categories.

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Exit Activity by Year in Insurance Technology
The above graph summarizes the number of exits (acquisitions and IPOs) in the Insurance Technology sector by year. 2016 leads the sector with 17 exit events, followd by 2014 with 12 exit 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.

Where in the World are Insurance Technology Startups? – Q4 2016

The analyses below summarize where Insurance Technology innovations are occurring.

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Insurance Technology Company Count by Country

The above map shows the number of Insurance Technology companies located in different countries. The United States ranks as the top country with around 556 companies.

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Insurance Technology VC Funding by Country
The above map shows the amount of total Insurance Technology startup venture capital funding in different countries. The United States has the most VC funding at around $7.1B.

We are currently tracking 1013 Insurance Technology companies in 14 categories across 53 countries, with a total of $16.9 Billion 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.

Insurance Technology Category Innovation Quadrant – Q4

Insurance Technology Category Innovation Quadrant
Insurance Technology Category Innovation Quadrant
Our Innovation Quadrant provides a snapshot of the average funding and average age for the different Insurance Technology categories and how they compare with one another.

  • Heavyweights: Categories with high average funding and high average age. These categories are comprised of companies that have reached maturity with significant financing.
  • Established: Categories with low average funding and high average age. These categories are comprised of companies that have reached maturity with less financing.
  • Disruptors: Categories with high average funding and low average age. These categories are comprised of companies that are less mature with significant financing.
  • Pioneers: Categories with low average funding and low average age. These categories are comprised of companies that are less mature with earlier stages of financing.
The definitions of the Insurance Technology categories represented in the above Innovation Quadrant are as follows:

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 1010 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.