Insure-tech domain has see tremendous growth in past 4 years. The industry has seen rise of online aggregators to nations first completely digitally run Insurance companies. My presentation shows a brief classification of Insure-Tech sectors across geographies in my understanding.

1. INSURE TECH
Meaning
Necessity
Global Footprint

2. MEANING
Insurance
Technology
Intersection of Insurance and Technology is called as “Insurtech”.
In simple words, technology built over insurance related process to simplify complex
paperwork process and thus increasing efficiency in the current insurance industry model.

3. NECESSITY
Complexity
Threats of loss to startups
Consistency in customer experience
Hassle free claims
Customization
Rise in assets

4. GLOBAL FOOTPRINT
Business Models
Investments
Leaderboard

5. BUSINESS MODELS
•Internet-first Insurers
•P2P Insurance
•Employer Insurance
•Distribution Platforms
•Claims Management & Resolution
•Enablers
Business
Models

6. INTERNET-FIRST INSURERS
Internet
-First
Insuranc
e
Horizont
al
Personal
Property
&
Casualty
Device Auto Home
Remodel
ing
IOT
Life &
Health
Life Health
Games Marriage Renters
Unempl
oyment
Student Pet
Private
Liability
Deposit
Litigatio
n
Crop Flood Travel Sports
Commer
cial
Emergen
cy Crisis
Cyber
Insuranc
e
Cloud
Insuranc
e
Employe
r
Insuranc
e

7. INTERNET-FIRST INSURERS
No. of companies
• 211
Funded
• 70
Total Funding (Last 2 years)
• $2.383 Billion
Overall Funding
• $4.62 Billion

8. INTERNET-FIRST INSURERS
Horizontal, $1.4
Billion
Personal, $2.6 Billion
Commercial, $62
Million
TOTAL FUNDING BREAKUP

9. INTERNET-FIRST INSURERS
Horizontal, $44
Million
Personal, $1.34 Billion
Commercial, $62
Million
INVESTMENTS IN LAST 2 YEARS

10. INTERNET-FIRST INSURERS
Unicorn
ZhongAn Insurance ($931.30 Million)
Oscar
($727.50 Million)
Clover Health ($325 Million)
Soonicorn
Metromile ($205.50 Million)
Lemonade ($180 Million)
Root ($7 Million)
Digit Insurance ($54.27 Million)
Bright Health ($240 Million)
Bima ($112.20 Million)
Minicorn
Acko($30.96 Million)
Hippo($53.40 Million)
Hellas Direct($29.03 Million)
Sonnet
Singapore Life($50 Million)
Ladder($46.5 Million)
Ottonova($44.10 Million)
Figo Pet($7.90 Million)
Alan($13 Million)
At-Bay($6 Million)

11. P2P INSURANCE
P2P
Insurance
Horizontal
Deductibles Investing
Transaction
s
Property &
Casualty
Auto Device
Life &
Health
Commercial
Unemploym
ent

12. P2P INSURANCE
No. of companies
• 73
Funded
• 22
Total Funding (Last 2 years)
• $47.5 Million
Overall Funding
• $81 Million

13. P2P INSURANCE
Horizontal, $36
Million
Property & Casualty,
$4 Million
Life & Health, $41
Million
TOTAL FUNDING BREAKUP

14. P2P INSURANCE
Horizontal, $7.67
Million
Property & Casualty,
$1.16 Million
Life & Health, $38.7
Million
INVESTMENTS IN LAST 2 YEARS

15. P2P INSURANCE
Minicorn
Friendsurance($15.30 Million)
Axieme
Teambrella
Sonnet
Kevinsured

16. EMPLOYER INSURANCE
Employer Insurance
Benefits & Insurance Marketplace Self-Funded Insurance

17. EMPLOYER INSURANCE
No. of companies
• 53
Funded
• 38
Total Funding (Last 2 years)
• $577 Million
Overall Funding
• $1.9 Billion

18. EMPLOYER INSURANCE
Benefits & Insurance,
$1.8 Billion
Marketplace, $113
Million
TOTAL FUNDING BREAKUP

19. EMPLOYER INSURANCE
Benefits & Insurance,
$527 Million
Marketplace, $40.1
Million
INVESTMENTS IN LAST 2 YEARS

20. EMPLOYER INSURANCE
Unicorn
Zenefits($583 Million)
Gusto($176.10 Million)
Soonicorn
CollectiveHealth($230 Million)
Namely($ 157.85 Million)
Justworks($93 Million)
Maestro Health($56.40 Million)
Maxwell Health($56.40 Million)
Via Benefits($ 33 Million)
Minicorn
Lumity($33 Million)
SmartHR($32.19 Million)
League($29 Million)
Hixme($26.6 Million)
EaseCentral($11.50 Million)
Benestream($8.98 Million)
Flock($5.47 Million)
Goco.io($43.1 Million)

21. DISTRIBUTION PLATFORMS
Employer
Insurance
Horizontal
Mobile-
First
Property &
Casualty
Auto Home
Loan
Device
Life &
Health
Health Life Annuities
Commercia
l
Cyber
Insurance
Travel
On-
Demand
Insurance
Pet
Insurance
Crypto
Economy

22. DISTRIBUTION PLATFORMS
No. of companies
• 815
Funded
• 228
Total Funding (Last 2 years)
• $895 Million
Overall Funding
• $1.72 Billion

23. DISTRIBUTION PLATFORMS
Horizontal, $596
Million
Property & Casualty, $460…
Life & Health, $345
Million
Commercial, $161
Million
On-Demand
Insurance, $152
Million
Pet Insurance, $9
Million
TOTAL FUNDING BREAKUP

24. DISTRIBUTION PLATFORMS
Horizontal, $527
Million
Property & Casualty,
$262 Million
Life & Health, $137
Million
Commercial, $104
Million
On-Demand
Insurance, $130
Million
Pet Insurance, $9
Million
INVESTMENTS IN LAST 2 YEARS

25. DISTRIBUTION PLATFORMS
Unicorn
Instony($84 Million)
Soonicorn
PolicyBazaar($163.56 Million)
GoCompare
GoJi($104.91 Million)
CoverHound($53.05 Million)
Insurance Zebra($61.53 Million)
Databao($49.39 Million)
Minicorn
Coverfox($52.68 Million)
PolicyGenius($52.05 Million)
Huize($46 Million)
ComparaOnline Chile ($39 Million)
Quilt($3.25 Million)
Cover($11.12 Million)
Knip($15.70 Million)
Clark($14.74 Million)

26. CLAIMS MANAGEMENT &
RESOLUTION
Claims
Management &
Resolution
Health & Life Property & Casualty Travel

27. CLAIMS MANAGEMENT &
RESOLUTION
No. of companies
• 29
Funded
• 11
Total Funding (Last 2 years)
• $5.83 Million
Overall Funding
• $13 Million

28. CLAIMS MANAGEMENT &
RESOLUTION
Health & Life, $4
Million
Property & Casualty, $9 Million
TOTAL FUNDING BREAKUP

29. CLAIMS MANAGEMENT &
RESOLUTION
Health & Life, $2.83
Million
Property & Casualty,
$5 Million
INVESTMENTS IN LAST 2 YEARS

30. CLAIMS MANAGEMENT &
RESOLUTION
Minicorn
Claim Di ($2
Million)

31. ENABLERS
Enablers
Data
Providers
Auto Health Real Estate Drones
Back-end
Solutions
Suite
Policy
Administratio
n
Underwriting
& Risk
Management
Sales &
Distribution
Claims
Management
Fraud & Risk
Management
Customer
Relationship
Management
Financial&
Regulatory
Compliance
Payment
Collection
Point of sale
Insurance
Reinsurance

32. ENABLERS
No. of companies
• 914
Funded
• 333
Total Funding (Last 2 years)
• $1.65 Billion
Overall Funding
• $3.3 Billion

33. ENABLERS
Data Providers, $307
Million
Back-end Solution, $3 Billion
Point of Sale Insurance,…
Reinsurance, $20
Million
TOTAL FUNDING BREAKUP

34. ENABLERS
Data Providers, $92.6…
Back-end Solutions,
$1.56 Billion
Point of Sale
Insurance, $120 K
Reinsurance, $5.3
Million
INVESTMENTS IN LAST 2 YEARS

35. ENABLERS
Unicorn
Guidewire
Software(IPO)
Soonicorn
22 Companies
2 Acquisitions
Minicorn
38 Companies
1 IPO
•LineData(1998)
3 Shutdowns

36. INVESTMENTS
YOY Investments (2011 till
2018)
Key Markets (Last 2 Years)

37. INVESTMENTS
0
200
400
600
800
1000
1200
1400
1600
1800
2000
2011 2012 2013 2014 2015 2016 2017 2018
Investments in Millions ($)

38. KEY MARKETS
Sectors $ Invested Number of Rounds
Employer Insurance $503 Million 18
Distribution
Platforms
$433 Million 52
Enablers $462 Million 59
Internet-First
Insurers
$665 Million 11

39. LEADERBOARD
Active Investors
Global
India

40. ACTIVE INVESTORS

41. GLOBAL (TOP 5)
Company Name Founding Year Location Stage Funding in Million ($)
Root 2015 Columbus Series C $58 Million
Slice Labs 2015 New York Series A $20.3 Million
Coverfox 2011 Mumbai Series C $52.7 Million
Zenefits 2013 San Francisco Series C $584 Million
Justworks 2012 New York Series D $93 Million

42. INDIA (TOP 5)
Company Name Founding Year Location Stage Funding in Million ($)
Coverfox 2011 Mumbai Series C $52.7 Million
RenewBuy 2014 Gurgaon Series B $14.7 Million
PolicyBazaar 2008 Gurgaon Series E $163.6 Million
Digit Insurance 2016 Bangalore Series B $54.3 Million
Acko 2017 Mumbai Seed $31 Million

43. FAQ’S
Global insurance industry is currently estimated at $189 Billion
By 2019 global insurance industry is expected to reach $205 Billion
Globally there are 700 to 800 Insuretech firms which are addressing
the requirements of $4.5 Trillion insurance industry
New business models will have an edge and will take over the
traditional business models
Technology will cut down 60% manual jobs
Big Data, Analytics and Recomendations will play a key role in
providing seemless customer experience

44. SOURCE
PWC Report (2016)
Tracxn
Medici
Crowdvalley

45. THANKS A LOT Shubhankar Dutta