A report providing an overview of the Insurance Technology (insurtech) startup landscape. Includes a sector overview, graphical trends with insights, and recent funding/exit events. Contact info@venturescanner.com or visit www.venturescanner.com to learn more!
2. Insurance technology report outline
2
This report provides an overview of the insurtech sector and is broken down into
three sections
SectorDescription
High-level sector metrics,
innovation quadrant, and
category definitions
Trends& Insights
Infographics and data points
for the insurance technology
sector
QuarterlyActivity
Major funding and exit
events from the previous
90 days
Venture Scanner reports are built by analysts utilizing our startup
database and research platform
4. 4
Insurance technology startups are creating new businesses in 14 categories
The full Venture Scanner market report
and database tracks 1,317 companies
with $19B in funding
INSURANCE
TECHNOLOGY
The graphic above shows only a sampling of companies in each category, data as of July 2017
Automotive EmployeeBenefits Enterprise/Commercial Health Data/Intelligence
ConsumerManagement
Education/Resources
Marketplace/Comparison
Infrastructure/Backend
UserAcquisition Life,Home,P&C P2PInsurance Product Reinsurance
5. 5
Innovation quadrant for insurance technology
This quadrant shows a relative segmentationof the categories with respect to oneanother, data as of July 2017
AverageFunding
ESTABLISHED HEAVYWEIGHTS
PIONEERS DISRUPTORS
AverageAge
Reinsurance
Life, Home, P&C
Auto Insurance
Health Insurance
Employee Benefits
Insurance Data
Insurance
Comparison
Insurance Infrastructure
Enterprise
Product Insurance
P2P Insurance
CustomerManagement Education
User Acquisition
6. Insurance technology startups play in many different categories (1 of 2)
6Category stats as of July 2017
Auto Insurance
140 Startups, $6.8B Total Funding
Companies that offer car insurance, including telematics
products which detect your mileage and behavior to
customize your insurance
EmployeeBenefitsPlatforms
86 Startups, $1.4B Total Funding
Companies that help businesses offer healthcare and
other insurance products to their employees and help
employees manage those policies
ConsumerInsuranceManagementPlatforms
80 Startups, $468M Total Funding
Companies that enable consumers to manage their
insurance and claims, including mobile apps to file on the
spot
Health/TravelInsurance
138 Startups, $9.6B Total Funding
Companies that offer health insurance products to both
individualsand businesses, including options for health
insurance while on travel
InsuranceData/Intelligence
115 Startups, $2.9B Total Funding
Companies that collect, process, and analyze data for the
insurance industry in order to produce business
intelligence
Enterprise/CommercialInsurance
129 Startups, $987M Total Funding
Companies that offer insurance plans to businesses,
including corporations, startups, and individual
freelancers
InsuranceComparison/Marketplace
368 Startups, $1.4B Total Funding
Companies that allow consumers to compare different
insurance providers and for those providers to offer their
products
InsuranceEducation/Resources
39 Startups, $55M Total Funding
Companies that provide educational material and
resources for consumers to better understand how
insurance works
7. Insurance technology startups play in many different categories (2 of 2)
7Category stats as of July 2017
InsuranceInfrastructure/Backend
274 Startups, $1.1B Total Funding
Companies that help insurance providers with their day-
to-day operations, including tools for communications
and claim filing
Life,Home,Property& CasualtyInsurance
133 Startups, $7B Total Funding
Companies that offer life, home, and property insurance,
including products that help in cases of disability or
marital problems
InsuranceUserAcquisition
102 Startups, $399M Total Funding
Companies that help insurance providers identify new
client leads and then manage the acquisition of those
targets
ProductInsurance
36 Startups, $519M Total Funding
Companies that offer insurance and warranties on items a
consumer purchases, including tech gadgets and
diamonds
P2P Insurance
29 Startups, $26M Total Funding
Companies that allow for policy holders to jointly pay for
the insurance on an item they mutually own as a group,
such as a house or car
Reinsurance
33 Startups, $760M Total Funding
Companies that provide insurance to other insurance
companies, helping them hedge their risk and streamline
their costs
9. 9
Investing into the sector is occurring across a variety of categories
The Health Insurance category accounts for 29% of venturefunding and 8% of total
companiesin the insurtech sector
Venture Investing in Insurance Technology
Companiesare categorized by function, and therefore can exist in multiple categories. Data through July 2017
-
50
100
150
200
250
300
350
400
0
2
4
6
8
10
12
CompanyCount
TotalFunding($B)
VC Funding Count
10. 10
VC funding into insurtech has slowed in recent years
Overall insurtech VC fundinggrewata CAGRof 36% from 2011-2016, and 2017
is currently at 43% of 2016 funding
Insurance Technology Funding Over Time
Data through July 2017
0
1
2
3
4
5
6
7
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
TotalFunding($B)
11. 11
Insurtech funding amounts are dominated by early stage events
Insurance Technology Funding Amount By Round
50% of 2016 insurtech VC funding went into SeriesA events
Graphs shows only the funding rounds listed therein, data through July 2017
0.0
0.5
1.0
1.5
2.0
2.5
3.0
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
FundingAmount($B)
Late Stage Series D Series C Series B Series A Seed
12. 12
Insurtech startups founded in 2013 lead in VC funding
Startups founded in 2013 account for 38% of the sectorfunding over the last decade, and
include companies like ZhongAn, Oscar, and Zenefits
Insurance Technology Funding By Vintage Year
Data through July 2017
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
TotalFunding($B)
Year Founded
13. 13
Insurtech startups are a global phenomenon
Insurance Technology Startup Countby Country
Data through July 2017
7000
Companies
14. 14
A variety of top investors are making bets into insurtech
Selected Investor Activity in Insurance Technology
The above count represents a subset of overall investor activity, data through July 2017
0
5
10
15
20
25
NumberofInvestments
Number of Investments Number of Companies Backed
15. 15
Exits within the insurance technology space have grown in the past few years
Exit events within the insurtech sector grew by 270% from 2011 to 2016, and
2017 is currently at 49% of the 2016 total
Insurance Technology M&A and IPO Events By Year
Data through July 2017
0
5
10
15
20
25
30
35
40
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
NumberofExits
Public Acquired
17. 17
Recent insurance technology funding statistics
There have been 42 insurtech funding events from April 2017 through June 2017
Recent Insurance Technology Funding Round Counts
Graph shows only the funding types listed therein, data as of July 2017
0
2
4
6
8
10
12
Seed Series A Series B Series C Series D Series E Late Stage
FundingEventCount
18. 18
Recent insurance technology funding events
Notable Recent Insurance Technology Funding Events
Company FundingType Amount Date
Series B $160,000,000 June 1, 2017
Series D $130,000,000 May 10, 2017
Series A $50,000,000 April 26, 2017
Series D $45,000,000 April 6, 2017
Series A $35,000,000 May 3, 2017
Insurtech startups raised $655 million from April 2017 through June 2017
Data as of July 2017
19. 19
Recent insurance technology exit events
Notable Recent Insurance Technology Exit Events
Company Acquirer Amount Date
$1,700,000,000 May 2, 2017
$156,000,000 April 9, 2017
Digital Insurance Group Unknown Jun 29, 2017
Unknown Jun 27, 2017
Unknown Jun 13, 2017
There have been 9 insurtech exits from April 2017 through
June 2017, all of which have been acquisitions
Data as of July 2017
21. Venture Scanner is the foundation of your startup research
21
Our research and data keep you ahead of the innovation curve
SaveTime and Money
Get immediate access to
years of startup research
LeverageTechnology
Realize the power of our
landscaping technology
StayCurrent
See all updates and
developments
Many international Fortune 500 companies trust Venture Scanner to
help them with their startup reporting needs
22. Want to learn moreabout our insurance technology marketreport?
Click here or contact info@venturescanner.comto learn more