Insurance Technology (Insurtech) startup quarterly highlights. Includes a sector summary, recent events, and a deep dive into insurance data startups. Contact info@venturescanner.com or visit www.venturescanner.com to learn more about our research platform for technology startups!
2. Quarterly insurance technology highlights
2
This brief overview of the insurance technology sector provides three sections
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SectorSummary
Macro-level viewson the
state of the insurance
technology sector
LatestActivity
Major funding and exit
events from the previous
quarter
CategoryDiscovery
Deep dive into a single
insurance technology
category
5. 5The graphic above shows a random sampling of companiesin each category, data cumulativeas of December2017
INSURANCE
TECHNOLOGY
Automotive
(158Companies)
EmployeeBenefits
(90Companies)
Enterprise/Commercial
(153Companies)
Health/Travel
(158Companies)
Data/Intelligence
(122Companies)
ConsumerManagement
(95Companies)
Education/Resources
(38Companies)
Comparison/Marketplace
(406Companies)
Infrastructure/Backend
(287Companies)
UserAcquisition
(117Companies)
Life,Home,P&C
(153Companies)
P2PInsurance
(32Companies)
Product
(41Companies)
Reinsurance
(33Companies)
The Venture Scanner researchplatform
currently tracks 1,422 insurance tech
startups with $19B in funding
6. Health
Life, Home, P&C Auto
Insurance DataInsurance Comparison
Employee Benefits
Insurance Infrastructure
Commercial Insurance
Reinsurance
Product
Consumer Management
User Acquisition
Insurance Education
P2P Insurance
6
Innovation quadrant for insurance technology
AverageFunding
ESTABLISHED HEAVYWEIGHTS
PIONEERS DISRUPTORS
AverageAge
This quadrant shows a relative segmentationof the categories with respect to oneanother, data cumulativeas of December2017
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7. 7
Insurtech VC funding is down from a few years ago, but upward over the past 5 years
Overall insurtech technology funding grew at a CAGR of 25% from 2012-2017,
and 2017 was 81% of 2016 funding
Insurance Technology Annual Funding Over Time
Data cumulativeas of December2017
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0
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3
4
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2011 2012 2013 2014 2015 2016 2017
Funding($B)
Q1 Q2 Q3 Q4 Ping An raised $4.75B in
Post-IPO Equity in Q4 2014
8. 8
Except for an outlier year, the most recent quarter was in line with previous totals
The funding in Q4 2017 grew by 27% over the Q4 2016 funding total
Insurance Technology Quarterly Funding Over Time
Data cumulativeas of December2017
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0
1
2
3
4
5
6
2011 2012 2013 2014 2015 2016 2017
Funding($B)
Q1 Q2 Q3 Q4
Ping An raised $4.75B in
Post-IPO Equity in Q4 2014
9. 9
Exits within the space are on a general upward trend
Quarterly insurance technology exits in 2017 were lower than 2016,
with Q4 2017 seeing a drop of 73% from Q4 2016
Insurance Technology Exit Events Over Time
Data cumulativeas of December2017
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4
6
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10
12
14
16
2011 2012 2013 2014 2015 2016 2017
ExitEvents
Q1 Q2 Q3 Q4
11. 11
Insurance technology funding events were mostly early stage in Q4 2017
There were 50 funding events this quarter, 70% of which were Seed or Series A
Recent Insurance Technology Funding Round Counts
Graphs shows only the funding rounds listed therein
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2
4
6
8
10
12
14
Seed A B C D Late Stage
FundingEvents
Funding Event
12. 12
Most insurtech categories saw funding this quarter
Insurance technology startups raised $564 million over the last quarter
Quarterly Insurance Technology Category Funding
Companiesare categorized by function, and therefore can exist in multiple categories.
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0
50
100
150
200
250
QuarterlyFunding($M)
13. 13
Recent insurance technology funding events
Notable Recent Insurance Technology Funding Events
Company FundingType Amount Date
Series C $120,000,000 Dec 19, 2017
Series D $97,000,000 Dec 19, 2017
Series E $77,000,000 Oct 13, 2017
Venture $36,000,000 Oct 3, 2017
Series C $35,000,000 Nov 15, 2017
The top 5 insurtech events accounted for 27% of quarterly funding
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14. 14
Recent insurance technology exit events
Notable Recent Insurance Technology Exit Events
Company Acquirer Amount Date
$275,000,000 Oct 6, 2017
Unknown Dec 13, 2017
Unknown Nov 28, 2017
Unknown Nov 13, 2017
There were 4 insurance technology exits this past quarter,
all of which were acquisitions
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15. Category Discovery – Insurance Data
Every quarter a newcategory will receivea deep dive,providing comparisonsto
other categories and discussingtrends
15
16. 16
Insurance data is one of the leading categories within the insurtech sector
The insurance data category accounts for 9% of funding in the sector and saw modest
growth last quarter
Venture Investing in Insurance Technology
Companiesare categorized by function, and therefore can exist in multiple categories. Data cumulativeas of December2017
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0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
0
2
4
6
8
10
12
GrowthfromPreviousQuarter
Funding($B)
Previous Total Quarterly Funding Percent Growth
17. 17
Companies within insurance data are funded like the typical insurtech company
Insurance data has a median funding exactly at the average of other
categories, and a first quartile that is $4M higher
Insurance Technology Category Funding Quartiles
Companiesare categorized by function, and therefore can exist in multiple categories. Data cumulativeas of December2017
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0
10
20
30
40
50
60
FundingQuartiles($M)
First Quartile Median Third Quartile
18. 18
Annual insurance data funding events are on a general upward trend
Overall insurance data funding grew at a CAGR of 19% from 2012-2017
Insurance Data Annual Funding Events
Data cumulativeas of December2017
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5
10
15
20
25
30
35
40
2011 2012 2013 2014 2015 2016 2017
FundingEvents
Q1 Q2 Q3 Q4
19. 19
Funding within insurance data is highly concentrated
Insurance Data Companies with Largest Funding Amounts
Company LatestRound Amount Location
Private Equity $2,100,000,000 Palo Alto, CA, USA
Seed $110,000,000 San Francisco, CA, USA
Venture $95,000,000 United Kingdom
Venture $61,000,000 Redwood City, CA, USA
Series B $52,000,000 Folsom, CA, USA
The top 5 insurance data companies by total funding account for 79% of overall
category funding
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21. Venture Scanner is the foundation of your startup research
21
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