The Top InsurTech Ventures by Capital Raised

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InsurTech is in it’s Cambrian explosion phase with lots of funding action. So we thought it was time for a snapshot.

The amount of capital raised is only one predictor of success. The startup world is full of klunkers that raised a huge amount and bootstrappers who created $ billions in value. In this list alone, Zenefits is clearly having a lot of trouble having raised half a big one.

Nevertheless, the amount of capital raised is a reasonable proxy of value based on the wisdom of a savvy crowd (VCs).

Thanks to all who contributed to this research, here is an updated list:

Venture Region $ Segment 1
Zhong An Asia 900 Full Stack
Oscar America 727.5 Health
Zenefits America 583 Lead Engine
Metromile America 205 Auto
Accolade America 163.34 Health
Collective Health America 125 Health
Bright Health America 80 Health
Lemonade America 60 P2P
Trov America 46.27 Product Insurance
Cyence America 40
FinanceFox Europe 33.5 Misc
Justworks America 33 Lead Engine
Simplesurance Europe 33 Product Insurance
Huize Insurance Asia 31 Lead Engine
namely America 30 lead Engine
CXA Asia 25 Health
PolicyGenius america 21 consumer
Knip Europe 18.3 Robo Agent
Finanzchef24 europe 17 SME
Friendsurance Europe 15.3 P2P
Praedicat Europe 12 Catastrophe
QuanTemplate Europe 10.25 Tech
Bought By Many Europe 9.14 P2P

Takeways

  • America still leads by number of ventures and total $ raised.
  • Asia leads by the most raised by a single venture.
  • Health Insurance is the big driver in America

If I have missed any that should be on that list ie have raised more than the $9.14m, please tell us in comments and we will correct.

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9 thoughts on “The Top InsurTech Ventures by Capital Raised

  1. I would no longer label Lemonade as “P2P.” In their Transparency Chronicles Part 2 blog post(https://www.lemonade.com/blog/lemonades-first-quarter-market/), they say:

    “If I had to choose one thing that didn’t work as we had hoped, it’s our use of P2P to describe what Lemonade is. We looked for a term that would encapsulate our ideas around affinity groups, Giveback and the fact that we don’t treat customers’ premiums as ‘our money.’ In retrospect, it created a lot of confusion. People seem to read so many different things into this term, so we now describe ourselves using phrases like AI and Behavioral Economics. Call it what you may (and we get it, P2P wasn’t a winner) but in a nutshell, Lemonade is a tech company doing insurance, and not an old insurance company with an app.”

    So I’d label them as P&C.

    Like

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