Yesterday we announced our content partnership with Venture Scanner. Today we use their data in our InsurTech post.
We looked at 14 categories within InsurTech to see where the funding is going (numbers are in $ millions).
| Category | Total Ventures | Funded Ventures | Total $ | % Funded | Average $ |
| Health & Travel | 321 | 67 | 9260 | 21% | 138 |
| Life, Home, P&C | 112 | 26 | 6870 | 23% | 264 |
| Auto | 64 | 33 | 6610 | 52% | 200 |
| Data/Intelligence | 105 | 55 | 2810 | 52% | 51 |
| Employee Benefits | 110 | 30 | 1200 | 27% | 40 |
| Comparison | 105 | 73 | 1200 | 70% | 16 |
| Infrastructure & Backend | 245 | 80 | 1040 | 33% | 13 |
| Commercial | 126 | 20 | 840 | 16% | 42 |
| Reinsurance | 31 | 5 | 759 | 16% | 152 |
| Product | 29 | 10 | 443 | 34% | 44 |
| Consumer Insurance | 82 | 29 | 385 | 35% | 13 |
| User Acquisition | 86 | 27 | 342 | 31% | 13 |
| P2P | 31 | 7 | 86 | 23% | 12 |
| Education/Resources | 35 | 4 | 53 | 11% | 13 |
| TOTAL | 1482 | 466 | 31898 | 31% | 68 |
Takeaways:
- Comparison sites look the most fully invested. 70% of comparison site ventures got funded. Our analysis here.
- Despite all the hype, very little money has gone into P2P (and out of that $86m, $60m is to Lemonade which no longer positions as P2P).
- Only 16% of ventures in Commercial and in Reinsurance get funded. I believe that is because these are functionally complex (and so the supply of ventures is limited and investors lack the knowledge to evaluate them fully).
This data comes from Venture Scanner. You can get the full FinTech Market Report and data at Venture Scanner.
Bernard Lunn is a Fintech thought-leader and deal-maker.Â
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