Average and Median Age by Insurance Technology Category – Q1 2017

The following graph shows average and median age in the Insurance Technology sector. The graphic includes data through January 2017.

average-median-age-insurtech
Average and Median Age by Insurance Category

The above graph summarizes the average age and median age of companies in each Insurance Technology category. The Reinsurance category ranks as the most mature Insurance Technology category with an average age of 23 years and a median age of 16 years. The Life, Home, P&C Insurance category comes in as the second oldest category, with a average age of 14 years and a median age of 15 years.

We are currently tracking 1101 Insurance Technology companies in 14 categories across 54 countries, with a total of $17.4 Billion in funding. Click here to learn more about the full Insurance Technology landscape report and database.

Where in the world are Insurance Technology startups? – Q1 2017

The analyses below summarize where Insurance Technology innovations are occurring. The graphic includes data through January 2017.

insurtech-startup-count-by-country

The above map shows the number of Insurtech companies located in different countries. The United States ranks as the top country with over 580 companies.

insurtech-vc-funding-by-country

The above map shows the amount of total Insurtech startup venture capital funding in different countries. The United States has the most VC funding at around $7B.

We are currently tracking 1,087 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 Companies Founded by Year – Q1 2017

The following graph shows the founding year distribution in the Insurance Technology sector. The graphic includes data through January 2017.

Insurance Technology Companies Founded by Year
Insurance Technology Companies 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 103 companies founded in that year alone. 2013 and 2014 are roughly tied for second, with around 98 startups founded.

We are currently tracking 1073 Insurance Technology companies in 14 categories across 53 countries with a total of $17.2 Billion in funding. Click here to learn more about the full Insurance Technology landscape report and database.

Insurance Technology Startup Landscape Trends and Insights – Q1 2017

Here is our Q1 2017 summary report on the Insurance Technology (insurtech) startup sector. The following report includes a startup landscape overview, graphical trends and insights, and recent funding and exit events.

We are currently tracking 1,050 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 landscape report and database.

Insurance Technology Market Overview and Innovation Quadrant – Q1 2017

The following post highlights how Venture Scanner categorizes the Insurance Technology (insurtech) startup landscape, and presents our Innovation Quadrant showing how those categories compare to one another. The data for this post is through January 2017.

insurance-technology-logo-map

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

insurance-technology-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: These categories are comprised of companies that have reached maturity with significant financing.
  • Established: These categories are comprised of companies that have reached maturity with less financing.
  • Disruptors: These categories are comprised of companies that are less mature with significant financing.
  • Pioneers: These categories are comprised of companies that are less mature with earlier stages of financing.

The definitions of the Insurance Technology categories are as follows

Auto Insurance: Companies that offer car insurance, including 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, including mobile apps that allow users to file claims right at the spot of an accident.

Employee Benefit Platforms: Companies that help enterprises build or acquire employee benefits platforms that deliver healthcare and other insurance products to their employees.

Enterprise/Commercial Insurance: Companies that offer insurance plans to businesses, including corporations, startups, and freelancers.

Health/Travel Insurance: Companies that offer health or travel insurance, either for individuals or for businesses.

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 providers. These are 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.

Insurance Education/Resources: Companies that provide educational material and resources that give information about how insurance works.

Insurance Infrastructure/Backend: Companies that help insurance companies with their day-to-day operations, including CRM for agents, communication tools, and claim filing tools.

Insurance User Acquisition: Companies that help insurance companies find and manage new leads and then to acquire those leads as clients.

Life, Home, Property & Casualty Insurance: Companies that offer life, home, and property insurance, as well as other kinds of insurance such as disability and marriage insurance.

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, a house, or media equipment).

Product Insurance: Companies that offer insurance and/or warranties for products that a user purchases, from tech gadgets to diamonds.

Reinsurance: Companies that provide insurance products to other insurance companies, helping them hedge their bets and streamline their costs.

We are currently tracking 1,050 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 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.

insurance-technology-vintage-funding

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.