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January 2018
Q4 Startup Highlights
INSURANCE TECHNOLOGY
Quarterly insurance technology highlights
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This brief overview of the insurance technology sector provides three sections
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Sector Summary
Macro-level views on the state of the insurance
technology sector
Latest Activity
Major funding and exit events from the previous
quarter
Category Discovery
Deep dive into a single insurance technology
category
Sector Summary
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INSURANCE TECHNOLOGY
14 Categories
1,438 Companies
$19B Funding
4Sector stats are continuously changing, data cumulative as of December 2017
5The graphic above shows a random sampling of companies in each category, data cumulative as of December 2017
INSURANCE TECHNOLOGY
Automotive(158 Companies)
Employee Benefits(90 Companies)
Enterprise/Commercial(153 Companies)
Health/Travel(158 Companies)
Data/Intelligence(122 Companies)
Consumer Management(95 Companies)
Education/Resources(38 Companies)
Comparison/Marketplace(406 Companies)
Infrastructure/Backend(287 Companies)
User Acquisition (117 Companies)
Life, Home, P&C(153 Companies)
P2P Insurance(32 Companies)
Product(41 Companies)
Reinsurance(33 Companies)
The Venture Scanner research platform currently tracks 1,422 insurance tech
startups with $19B in funding
Health
Life, Home, P&C Auto
Insurance DataInsurance Comparison
Employee Benefits
Insurance Infrastructure
Commercial Insurance
Reinsurance
Product
Consumer Management
User AcquisitionInsurance Education
P2P Insurance
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Innovation quadrant for insurance technology
Average Funding
ESTABLISHED HEAVYWEIGHTS
PIONEERS DISRUPTORS
Ave
rage
Age
This quadrant shows a relative segmentation of the categories with respect to one another, data cumulative as of December 2017Visit www.venturescanner.com to learn more about our insurance technology research platform
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Insurtech VC funding is down from a few years ago, but upward over the past 5 years
Overall insurtech technology funding grew at a CAGR of 25% from 2012-2017, and 2017 was 81% of 2016 funding
Insurance Technology Annual Funding Over Time
Data cumulative as of December 2017Visit www.venturescanner.com to learn more about our insurance technology research platform
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2011 2012 2013 2014 2015 2016 2017
Fun
din
g ($
B)
Q1 Q2 Q3 Q4 Ping An raised $4.75B in Post-IPO Equity in Q4 2014
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Except for an outlier year, the most recent quarter was in line with previous totals
The funding in Q4 2017 grew by 27% over the Q4 2016 funding total
Insurance Technology Quarterly Funding Over Time
Data cumulative as of December 2017Visit www.venturescanner.com to learn more about our insurance technology research platform
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2011 2012 2013 2014 2015 2016 2017
Fun
din
g ($
B)
Q1 Q2 Q3 Q4
Ping An raised $4.75B in Post-IPO Equity in Q4 2014
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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 cumulative as of December 2017Visit www.venturescanner.com to learn more about our insurance technology research platform
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2011 2012 2013 2014 2015 2016 2017
Exit
Eve
nts
Q1 Q2 Q3 Q4
Latest Activity
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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 thereinVisit www.venturescanner.com to learn more about our insurance technology research platform
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Seed A B C D Late Stage
Fun
din
g Ev
ents
Funding Event
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Most insurtech categories saw funding this quarter
Insurance technology startups raised $564 million over the last quarter
Quarterly Insurance Technology Category Funding
Companies are categorized by function, and therefore can exist in multiple categories.Visit www.venturescanner.com to learn more about our insurance technology research platform
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50
100
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Qu
arte
rly
Fun
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M)
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Recent insurance technology funding events
Notable Recent Insurance Technology Funding Events
Company Funding Type 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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Recent insurance technology exit events
Notable Recent Insurance Technology Exit Events
Company Acquirer Amount Date
$275,000,000 Oct 6, 2017
Unknown Dec 13, 2017
Unknown Nov 28, 2017
Unknown Nov 13, 2017
There were 4 insurance technology exits this past quarter, all of which were acquisitions
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Category Discovery – Insurance Data
Every quarter a new category will receive a deep dive, providing comparisons to other categories and discussing trends
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Insurance data is one of the leading categories within the insurtech sector
The insurance data category accounts for 9% of funding in the sector and saw modest growth last quarter
Venture Investing in Insurance Technology
Companies are categorized by function, and therefore can exist in multiple categories. Data cumulative as of December 2017Visit www.venturescanner.com to learn more about our insurance technology research platform
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
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Grow
th from
Previou
s Qu
arterFu
nd
ing
($B
)
Previous Total Quarterly Funding Percent Growth
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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 $4M higher
Insurance Technology Category Funding Quartiles
Companies are categorized by function, and therefore can exist in multiple categories. Data cumulative as of December 2017Visit www.venturescanner.com to learn more about our insurance technology research platform
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Fun
din
g Q
uar
tile
s ($
M)
First Quartile Median Third Quartile
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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 cumulative as of December 2017Visit www.venturescanner.com to learn more about our insurance technology research platform
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2011 2012 2013 2014 2015 2016 2017
Fun
din
g Ev
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Q1 Q2 Q3 Q4
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Funding within insurance data is highly concentrated
Insurance Data Companies with Largest Funding Amounts
Company Latest Round 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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About Venture Scanner
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