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InsurTechs Drawing Investors' Attention

Posted By Mark Hollmer, Tuesday, June 25, 2019

from CarrierManagement.com

Below, we’ve gathered highlights of 10 noteworthy InsurTech financings from January 2019 through mid-May. They offer a curious read in combination with each other.

For one thing, the list gives a good idea about what kinds of startups are drawing investor attention.

Also, most of the investments are relatively small, reflecting venture commitment to concepts that haven’t quite proven themselves yet in the marketplace. Then there’s CoverHound, the online insurance comparison shopping platform, which pulled in $58 million earlier this year, bringing its total fundraising haul to $112 million in order to fuel a global expansion.

Another company – the upstart carrier Lemonade – raised a whopping $300 million in late-stage venture cash, more than 10 times the average InsurTech financing in the last few years. It has pulled in nearly $500 million total since its launch just a few years ago. Some observers predict Lemonade will reach the big leagues in the coming months, either through an IPO or sale to an old-school carrier seeking a cost-effective way to modernize. You can read about that here, in a recent Carrier Management analysis.

The question is, which InsurTech startup will be the next one to raise a large investment, with an eye toward public company status or selling itself to an interested buyer? It could be one of the companies listed below.

 

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