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).
We will keep updating this sheet, so please tell us if you see anything missing.
Thanks to all who contributed to this research, here is an updated list (in $ millions):
| Zhong An | Asia | 900 | Full Stack |
| Oscar | America | 727.5 | Health |
| Zenefits | America | 583 | Lead Engine |
| Clover Health | America | 295 | Health |
| Metromile | America | 205 | Auto |
| Accolade | America | 163.34 | Health |
| Collective Health | America | 125 | Health |
| Bright Health | America | 80 | Health |
| Lemonade | America | 60 | P2P |
| Decisely | America | 60 | Lead Engine |
| Trov | America | 46.27 | Product Insurance |
| Cyence | America | 40 | Cyber Risk Insurance |
| WeFox | 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 |
| Clark | Europe | 14.75 | lead Engine |
| Embroker | America | 14.4 | SME |
| Alan | europe | 13 | Health |
| 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
- Berlin is emerging as an InsurTech Hub in Europe
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.
If anybody is inspired to write weekly on how technology is changing Insurance, please read this and get in touch.
Bernard Lunn is a Fintech thought-leader and deal-maker.
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