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1. TRACXN TOP BUSINESS MODELS REPORT
March 04, 2022
INSURTECH

2. InsurTech - Top Business Models Report Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Contents
InsurTech Funding Overview 3
Top Funded Business Models 4
One Pagers 8
Appendix 42
2

3. InsurTech - Top Business Models Report Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Funding in last 1 year
3
Internet First Insurance Platforms $10.3B
Insurance IT $3.5B
Employer Insurance $1.0B
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Y Combinator
Plug and Play Tech Center
Titan Capital
6
4
4
Early
Stage
Anthemis Group
Hudson Structured Capital..
Khosla Ventures
9
6
5
Late
Stage
General Catalyst Partners
Hudson Structured Capital..
Accel
6
5
4
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
United States (49%)
China (13%)
United Kingdom (9%)
France (7%)
India (6%)
Germany (6%)
Singapore (2%)
Others (9%)
$ Funding # Rounds
FWD
(2013, China)
$1.4B - PE
Devoted Health
(2017, United States)
$1.1B - Series D
Wefox
(2015, Germany)
$650M - Series C
Bought By Many
(2012, United Kingdom)
$350M - Series D
CollectiveHealth
(2013, United States)
$280M - Series F
Acko
(2016, India)
$255M - Series D
BitSight
(2011, United States)
$250M - Series E
Next Insurance
(2016, United States)
$250M - Series D
Alan
(2016, France)
$220M - Series D
Shift Technology
(2014, France)
$220M - Series D
Bolttech
(2020, Singapore)
$210M - Series A
Coalition
(2017, United States)
$205M - Series E

4. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Top Funded Business Models - last 1 year (1/4)
4
Rank Business Model $ Funding # Rounds Top Funding Round Details
1<> 0 Internet First Health Insurers $1.6B 18 Devoted Health | $1.1B | Series D Link
2<> 0 Internet-First Property and Casualty Insurers $1.5B 18 Wefox | $650M | Series C Link
3▲7 Insurance Agency Management $689M 12 Wefox | $650M | Series C Link
4▲12 Employee Insurance Benefits Administration $626M 25 Konfío | $125M | Series E Link
5▲7 Internet First Auto Insurers $574M 22 Acko | $255M | Series D Link
6▲5 Internet First Pet Insurers $538M 5 Bought By Many | $350M | Series D Link
7▼1 Insurance Comparison Platforms $488M 30 The Zebra | $150M | Series D Link
8<> 0 Internet First Life Insurers $459M 11 Ethos | $202M | Series D Link
9▲4 Internet First Insurers $389M 19 FWD | $1.4B | PE Link
10-- Insurance Fraud Detection $321M 5 Shift Technol.. | $220M | Series D Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

5. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Top Funded Business Models - last 1 year (2/4)
5
Rank Business Model $ Funding # Rounds Top Funding Round Details
11--
Self-funded Employee Insurance Administration
Solutions
$280M 2 CollectiveHea.. | $280M | Series F Link
12▼5 Property & Casualty Insurance Software Suite $246M 12 Corvus Insura.. | $115M | Series C Link
13▼10 Internet First Homeowner Insurers $236M 11 Kin | $82.0M | Series D Link
14▼5 Internet First Worker's Compensation Insurers $191M 7 Pie Insurance | $118M | Series C Link
15▲18 Internet First On Demand Auto Insurers $176M 4 Zego | $150M | Series C Link
16▼11 Health Insurance Comparison Platforms $164M 6 HealthCare.com | $50.0M | Series C Link
17▲13 Internet First Film Production Insurers $127M 2 Wrapbook | $100M | Series B Link
18▲1 Employee Insurance Benefits Marketplace $127M 7 Origin | $56.0M | Series B Link
19▼4 Internet First Usage Based Auto Insurers $97.0M 11 Zego | $150M | Series C Link
20▼3 Internet First Gig Economy Insurers $85.8M 5 Buckle | $60.0M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

6. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Top Funded Business Models - last 1 year (3/4)
6
Rank Business Model $ Funding # Rounds Top Funding Round Details
21▼7 Insurance Sales & Marketing Software $83.1M 8 Force Code T.. | $46.2M | Series B Link
22▼4 Internet First On Demand Insurers $65.8M 2 Getsafe | $63.0M | Series B Link
23▼2 Internet First Liability Insurers $65.1M 3 Coterie | $50.0M | Series B Link
24▲8 Life Insurance Comparison Platforms $52.4M 7 Sproutt | $26.0M | Series B Link
25▼2 Insurance Risk Management $48.7M 10 Our Kettle | $25.0M | Series A Link
26▲1 Internet First Usage Based Insurers $46.1M 5 Getsafe | $63.0M | Series B Link
27▲7 CRM for Insurers $39.3M 10 Hi Marley | $25.0M | Series B Link
28▲1 Internet First Renter Insurance $34.3M 4 Insurami | $57.9M | Series C Link
29▲2 Internet First Consumer Electronics Insurers $21.2M 2 Upsie | $18.2M | Series A Link
30▼4 Insurance Product Development $15.4M 2 Innoveo | $15.0M | Series A Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

7. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Top Funded Business Models - last 1 year (4/4)
7
Rank Business Model $ Funding # Rounds Top Funding Round Details
31▼6 Telematics for Auto Insurance $15.0M 3 CarIQ | $15.0M | Series B Link
32--
Internet-First Usage Based Property and Casualty
Insurers
$7.2M 2 Hellas Direct | $38.2M | Series C Link
33▼11 Insurance Trading $6.5M 1 Wrisk | $6.5M | Series A Link
34▼6 Internet First Crop Insurers $1.2M 1 OKO | $1.2M | Seed Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

8. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Devoted Health (2017, United States)
$1.1B - Series D - Oct 2021
Alan (2016, France)
$220M - Series D - Apr 2021
Friday Health.. (2015, United States)
$100M - Series C - Apr 2021
Ottonova (2015, Germany)
$47.4M - Series E - Aug 2021
Reliance Health (2020, Nigeria)
$40.0M - Series B - Feb 2022
RelianceHMO (2017, Nigeria)
$40.0M - Series B - Feb 2022
Spot (2017, United States)
$15.0M - Series A - Jul 2021
View all 18 Funding Rounds on Tracxn Platform
Internet First Health Insurers
01
8
Back to index
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3404 | $35.5B)
Internet First Insurers (Lemonade)
(# Cos: 1074 | $23.5B)
Health (Oscar)
(# Cos: 103 | $7.4B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.6B (▼0.6%)
18( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
8
$7.4B
44
1
103
21
Oscar
(2012, United States, $1.6B)
Alan
(2016, France, $361M)
RelianceHMO
(2017, Nigeria, $48.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

9. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Internet-First Property and Casualty
Insurers
02
9
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.5B (▲142%)
18( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$4.4B
50
2
110
23
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3404 | $35.5B)
Internet First Insurers (Oscar)
(# Cos: 1074 | $23.5B)
P&C (Clearcover)
(# Cos: 730 | $10.6B)
Diversified (Next Insurance)
(# Cos: 110 | $4.4B)
Next Insurance
(2016, United States, $881M)
Coalition
(2017, United States, $520M)
Luko
(2016, France, $84.9M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Wefox (2015, Germany)
$650M - Series C - Jun 2021
Next Insurance (2016, United States)
$250M - Series D - Mar 2021
Coalition (2017, United States)
$205M - Series E - Sep 2021
Coalition (2017, United States)
$175M - Series D - Mar 2021
Leocare (2017, France)
$116M - Series B - Nov 2021
Vouch (2018, United States)
$60.0M - Series C - Sep 2021
Branch (2017, United States)
$50.0M - Series B - Jun 2021
View all 18 Funding Rounds on Tracxn Platform

10. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Insurance Agency Management
03
10
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$689M (▲504%)
12(▲9.1%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
23
$1.2B
70
-
277
9
Insurance IT (CoreLogic)
(# Cos: 2470 | $10.3B)
Insurance Policy Solutions (Guidewire)
(# Cos: 1587 | $5.8B)
Software for Insurance Intermediaries
(Covr)
(# Cos: 389 | $1.4B)
Insurance Agency Management
(Wefox)
(# Cos: 277 | $1.2B)
Wefox
(2015, Germany, $1.0B)
Zywave
(1995, United States)
Agentero
(2017, United States, $23.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Wefox (2015, Germany)
$650M - Series C - Jun 2021
Agentero (2017, United States)
$13.5M - Series A - Jul 2021
Stubben Edge (2010, United Kingdom)
$13.4M - Series A - Jan 2022
MeetLeo (2019)
$5.0M - Seed - Nov 2021
Wunderite (2015, United States)
$3.0M - Seed - Apr 2021
Better Agency (2019, United States)
$2.1M - Seed - Jul 2021
Surer (2017, Singapore)
$1.0M - Seed - Oct 2021
View all 12 Funding Rounds on Tracxn Platform

11. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Employee Insurance Benefits
Administration
04
11
Back to index
Employer Insurance (Justworks)
(# Cos: 162 | $2.9B)
Benefits Administration (HealthEquity)
(# Cos: 102 | $1.7B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$626M (▲1202%)
25(▲108%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
15
$1.7B
56
1
102
27
HealthEquity
(2002, United States, $15.3M)
Justworks
(2012, United States, $148M)
League
(2014, Canada, $242M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Konfío (2014, Mexico)
$125M - Series E - Jun 2021
Konfío (2014, Mexico)
$110M - Series E - Sep 2021
League (2014, Canada)
$95.0M - Series C - Feb 2022
League (2014, Canada)
$70.0M - Series C - Dec 2021
ThreeFlow (2015, United States)
$45.0M - Series B - Nov 2021
Bennie (2019, United States)
$33.0M - Seed - Jan 2022
Level (2018, United States)
$27.0M - Series A - Apr 2021
View all 25 Funding Rounds on Tracxn Platform

12. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Internet First Auto Insurers
05
12
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$574M (▲501%)
22(▲69.2%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
9
$1.8B
64
1
181
20
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3404 | $35.5B)
Internet First Insurers (Oscar)
(# Cos: 1074 | $23.5B)
P&C (Next Insurance)
(# Cos: 730 | $10.6B)
Auto (Clearcover)
(# Cos: 181 | $1.8B)
Clearcover
(2016, United States, $329M)
Acko
(2016, India, $512M)
By Miles
(2016, United Kingdom, $27.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Acko (2016, India)
$255M - Series D - Oct 2021
Clearcover (2016, United States)
$200M - Series D - Apr 2021
Zego (2016, United Kingdom)
$150M - Series C - Mar 2021
Marshmallow (2017, United Kingdom)
$85.0M - Series B - Sep 2021
Justos (2020, Brazil)
$35.8M - Series A - Oct 2021
HDVI (2001, United States)
$32.5M - Series B - Aug 2021
Loop (2020, United States)
$21.0M - Series A - Sep 2021
View all 22 Funding Rounds on Tracxn Platform

13. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Internet First Pet Insurers
06
13
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$538M (▲451%)
5(▲400%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$740M
14
1
38
2
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3404 | $35.5B)
Internet First Insurers (Oscar)
(# Cos: 1074 | $23.5B)
P&C (Next Insurance)
(# Cos: 730 | $10.6B)
Pet (SanteVet)
(# Cos: 38 | $740M)
SanteVet
(2003, France, $171M)
Bought By Many
(2012, United Kingdom, $522M)
Petplan Insurance
(2003, United States, $1.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Bought By Many (2012, United Kingdom)
$350M - Series D - Jun 2021
SanteVet (2003, France)
$171M - Series B - Feb 2022
Wagmo (2018, United States)
$14.0M - Series A - Jul 2021
Odie (2019, United States)
$3.0M - Seed - Jun 2021
Oyen (2021, Malaysia)
$420K - Seed - Jun 2021

14. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
The Zebra (2012, United States)
$150M - Series D - Apr 2021
Insurify (2013, United States)
$100M - Series B - Sep 2021
Policybazaar (2008, India)
$75.0M - Series F - Mar 2021
Turtlemint (2015, India)
$46.0M - Series D - Mar 2021
RenewBuy (2014, India)
$45.0M - Series C - Jun 2021
Tameeni (2019, Saudi Arabia)
$24.0M - Series B - Nov 2021
RenewBuy (2014, India)
$10.0M - Series C - Aug 2021
View all 30 Funding Rounds on Tracxn Platform
Insurance Comparison Platforms
07
14
Back to index
Internet First Insurance Platforms (Oscar)
(# Cos: 3404 | $35.5B)
Insurance Comparison Platforms (NerdWallet)
(# Cos: 1860 | $10.7B)
Diversified (Policybazaar)
(# Cos: 814 | $7.0B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$488M (▲41.9%)
30(▲30.4%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
73
$7.0B
218
12
814
38
Policybazaar
(2008, India, $637M)
NerdWallet
(2009, United States, $123M)
RenewBuy
(2014, India, $92.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

15. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Ethos (2016, United States)
$202M - Series D - May 2021
Ladder (2015, United States)
$100M - Series D - Oct 2021
Ethos (2016, United States)
$100M - Series D - Jul 2021
Bowtie (2017, China)
$22.6M - Series B - Oct 2021
Azos (2020, Brazil)
$10.0M - Series A - Dec 2021
Avibra (2015, United States)
$7.2M - Series B - Apr 2021
DeadHappy (2013, United Kingdom)
$7.1M - Series B - Dec 2021
View all 11 Funding Rounds on Tracxn Platform
Internet First Life Insurers
08
15
Back to index
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3404 | $35.5B)
Internet First Insurers (Oscar)
(# Cos: 1074 | $23.5B)
Life (Singlife)
(# Cos: 65 | $1.1B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$459M (▲203%)
11(▲37.5%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$1.1B
31
-
65
8
Singlife
(2014, Singapore, $186M)
Ethos
(2016, United States, $409M)
Ladder
(2015, United States, $194M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

16. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
FWD (2013, China)
$1.4B - PE - Dec 2021
Digit Insurance (2016, India)
$200M - Series C - Jul 2021
FWD (2013, China)
$200M - PE - Jan 2022
Digit Insurance (2016, India)
$70.0M - Series D - Jan 2022
Getsafe (2015, Germany)
$63.0M - Series B - Oct 2021
Sunday (2017, Thailand)
$45.0M - Series B - Sep 2021
Acheel (2021, France)
$35.2M - Series C - May 2021
View all 19 Funding Rounds on Tracxn Platform
Internet First Insurers
09
16
Back to index
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3404 | $35.5B)
Internet First Insurers (Oscar)
(# Cos: 1075 | $23.5B)
Diversified (Lemonade)
(# Cos: 172 | $4.2B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$389M (▲510%)
19(▲138%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
10
$4.2B
62
10
172
16
Lemonade
(2015, United States, $644M)
Zopper
(2011, India, $40.6M)
Digit Insurance
(2016, India, $442M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

17. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Insurance Fraud Detection
10
17
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$321M ( -- )
5( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$456M
15
-
29
3
Insurance IT (CoreLogic)
(# Cos: 2470 | $10.3B)
Insurance Policy Solutions (Guidewire)
(# Cos: 1587 | $5.8B)
RegTech (Riskonnect)
(# Cos: 174 | $812M)
Fraud Detection (FRISS)
(# Cos: 29 | $456M)
FRISS
(2006, Netherlands, $88.7M)
Shift Technology
(2014, France, $320M)
Owl Technologies
(2018, Canada, $40.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Shift Technology (2014, France)
$220M - Series D - May 2021
FRISS (2006, Netherlands)
$65.0M - Series B - Jul 2021
Owl Technologies (2018, Canada)
$30.0M - Series B - Nov 2021
FRISS (2006, Netherlands)
$6.0M - Series B - Nov 2021
Shift Technology (2014, France)
Undisclosed - Series D - Nov 2021

18. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Self-funded Employee Insurance
Administration Solutions
11
18
Back to index
Employer Insurance (HealthEquity)
(# Cos: 162 | $2.9B)
Self-funded Insurance Administration
(CollectiveHealth)
(# Cos: 20 | $776M)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$280M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$776M
8
-
20
1
CollectiveHealth
(2013, United States, $714M)
Artemis Health
(2013, United States, $58.0M)
Rest
(1988, Australia)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
CollectiveHea.. (2013, United States)
$280M - Series F - May 2021
Granular Insu.. (2020, United States)
Undisclosed - Seed - Mar 2021

19. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Property & Casualty Insurance Software
Suite
12
19
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$246M (▼11.6%)
12(▲9.1%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
21
$1.1B
44
2
113
12
Insurance IT (CoreLogic)
(# Cos: 2470 | $10.3B)
Insurance Policy Solutions (Riskonnect)
(# Cos: 1587 | $5.8B)
Insurance Software Suite (Solera)
(# Cos: 593 | $2.7B)
Property & Casualty (Guidewire)
(# Cos: 113 | $1.1B)
Guidewire
(2001, United States)
Corvus Insurance
(2017, United States, $162M)
Duck Creek
(2000, United States, $350M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Corvus Insura.. (2017, United States)
$115M - Series C - Mar 2021
OneShield (1999, United States)
$50.0M - Series E - Jan 2022
Clyde (2017, United States)
$41.0M - Series B - Oct 2021
Seyna (2018, France)
$37.7M - Series A - Feb 2022
Nirvana (2009, United States)
$22.0M - Series A - Feb 2022
Redkik (2018, Finland)
$3.3M - Seed - Feb 2022
Koop (2017, United States)
$2.5M - Seed - Aug 2021
View all 12 Funding Rounds on Tracxn Platform

20. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Internet First Homeowner Insurers
13
20
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$236M (▼58.4%)
11(▲57.1%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$1.2B
21
-
34
7
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3404 | $35.5B)
Internet First Insurers (Oscar)
(# Cos: 1075 | $23.5B)
P&C (Next Insurance)
(# Cos: 730 | $10.6B)
Property (Rhino)
(# Cos: 67 | $1.6B)
Homeowners (HomeTree)
(# Cos: 34 | $1.2B)
HomeTree
(2016, United Kingdom, $32.4M)
Hippo
(2015, United States, $709M)
Kin
(2016, United States, $252M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Kin (2016, United States)
$82.0M - Series D - Mar 2022
Kin (2016, United States)
$64.0M - Series C - May 2021
Hedvig (2016, Sweden)
$45.0M - Series B - Sep 2021
Steadily (2020, United States)
$27.8M - Series A - Nov 2021
FloodFlash (2017, United Kingdom)
$15.0M - Series A - Feb 2022
Honey Insurance (2016, Australia)
$11.9M - Seed - Jun 2021
Delos (2015, United States)
$5.3M - Seed - Dec 2021
View all 11 Funding Rounds on Tracxn Platform

21. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Internet First Worker's Compensation
Insurers
14
21
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$191M (▲34.3%)
7(▲250%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$413M
9
-
16
6
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3404 | $35.5B)
Internet First Insurers (Oscar)
(# Cos: 1075 | $23.5B)
P&C (Next Insurance)
(# Cos: 730 | $10.6B)
Workers' Compensation (Pie
Insurance)
(# Cos: 16 | $413M)
Pie Insurance
(2017, United States, $310M)
Breeze
(2019, United States, $10.0M)
Asteya
(2018, United States, $10.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Pie Insurance (2017, United States)
$118M - Series C - Mar 2021
Foresight (2007, United States)
$39.0M - Series B - Jan 2022
Asteya (2018, United States)
$10.0M - Seed - Mar 2021
Breeze (2019, United States)
$10.0M - Series A - Aug 2021
Indeez (2020, France)
$9.2M - Series A - Jan 2022
Insurate (2019, United States)
$4.5M - Seed - Oct 2021
Asteya (2018, United States)
$25.0K - Seed - Oct 2021

22. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Internet First On Demand Auto Insurers
15
22
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$176M (▲ >10K%)
4(▲300%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$258M
7
-
15
4
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3404 | $35.5B)
Internet First Insurers (Oscar)
(# Cos: 1075 | $23.5B)
P&C (Next Insurance)
(# Cos: 730 | $10.6B)
Auto (Clearcover)
(# Cos: 181 | $1.8B)
Usage-based (By Miles)
(# Cos: 86 | $750M)
On Demand (Cuvva)
(# Cos: 15 | $258M)
Cuvva
(2014, United Kingdom, $21.9M)
Zego
(2016, United Kingdom, $202M)
VOOM
(2016, United States, $22.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Zego (2016, United Kingdom)
$150M - Series C - Mar 2021
VOOM (2016, United States)
$15.0M - Series B - Oct 2021
Mile Auto (2017, United States)
$10.3M - Seed - May 2021
nSurely (2020, Ireland)
$605K - Seed - Dec 2021

23. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
HealthCare.com (2006, United States)
$50.0M - Series C - Dec 2021
Stride Health (2013, United States)
$47.0M - Series C - Oct 2021
EasyHealth (2019, United States)
$35.0M - Series A - Nov 2021
HealthCare.com (2006, United States)
$31.5M - Series C - Feb 2022
Total Benefit.. (1982, United States)
$440K - Seed - Oct 2021
Maria Health (2015, Philippines)
Undisclosed - Series A - Nov 2021
Health Insurance Comparison Platforms
16
23
Back to index
Internet First Insurance Platforms (NerdWallet)
(# Cos: 3404 | $35.5B)
Insurance Comparison Platforms (Policybazaar)
(# Cos: 1860 | $10.7B)
Health (Health IQ)
(# Cos: 175 | $1.9B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$164M (▼58.9%)
6(▲20%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
13
$1.9B
50
2
175
10
Health IQ
(2014, United States, $140M)
eHealth
(1997, United States, $44.0M)
Stride Health
(2013, United States, $96.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

24. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Internet First Film Production Insurers
17
24
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$127M (▲3428%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$131M
1
-
4
1
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3404 | $35.5B)
Internet First Insurers (Oscar)
(# Cos: 1075 | $23.5B)
P&C (Next Insurance)
(# Cos: 730 | $10.6B)
Film Production (Wrapbook)
(# Cos: 4 | $131M)
Wrapbook
(2011, United States, $131M)
Pro Photographer’s Ins..
(2011, United States)
Jube
(2018, Denmark)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Wrapbook (2011, United States)
$100M - Series B - Nov 2021
Wrapbook (2011, United States)
$27.0M - Series A - Mar 2021

25. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Employee Insurance Benefits
Marketplace
18
25
Back to index
Employer Insurance (HealthEquity)
(# Cos: 162 | $2.9B)
Benefits Marketplace (CXA Group)
(# Cos: 34 | $330M)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$127M (▲425%)
7(▼12.5%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
4
$330M
17
-
34
9
CXA Group
(2013, Singapore, $58.0M)
SimplyInsured
(2012, United States, $8.5M)
Plum
(2019, India, $20.7M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Origin (2019, United States)
$56.0M - Series B - Aug 2021
Gravie (2013, United States)
$28.6M - Series D - Mar 2021
Plum (2019, India)
$15.7M - Series A - May 2021
Take Command .. (2014, United States)
$12.0M - Series A - Apr 2021
Nova (2020, India)
$10.0M - Series A - Sep 2021
MyHealthMath (2014, United States)
$3.5M - Series B - Dec 2021
Nova (2020, India)
$1.0M - Seed - Apr 2021

26. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Internet First Usage Based Auto Insurers
19
26
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$97.0M (▲79.3%)
11(▲37.5%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$750M
33
1
86
12
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3404 | $35.5B)
Internet First Insurers (Oscar)
(# Cos: 1075 | $23.5B)
P&C (Next Insurance)
(# Cos: 730 | $10.6B)
Auto (Clearcover)
(# Cos: 181 | $1.8B)
Usage-based (By Miles)
(# Cos: 86 | $750M)
By Miles
(2016, United Kingdom, $27.0M)
Cuvva
(2014, United Kingdom, $21.9M)
Zego
(2016, United Kingdom, $202M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Zego (2016, United Kingdom)
$150M - Series C - Mar 2021
Justos (2020, Brazil)
$35.8M - Series A - Oct 2021
HDVI (2001, United States)
$32.5M - Series B - Aug 2021
VOOM (2016, United States)
$15.0M - Series B - Oct 2021
Naked (2016, South Africa)
$11.1M - Series A - Aug 2021
Mile Auto (2017, United States)
$10.3M - Seed - May 2021
Just (2014, United States)
$8.0M - Series A - Sep 2021
View all 11 Funding Rounds on Tracxn Platform

27. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Internet First Gig Economy Insurers
20
27
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$85.8M (▲138%)
5(▲25%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$151M
12
-
25
6
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3404 | $35.5B)
Internet First Insurers (Oscar)
(# Cos: 1075 | $23.5B)
P&C (Next Insurance)
(# Cos: 730 | $10.6B)
Gig Economy (Assurely)
(# Cos: 25 | $151M)
Assurely
(2013, United States, $3.7M)
Tapoly
(2016, United Kingdom, $356K)
Buckle
(2018, United States, $91.1M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Buckle (2018, United States)
$60.0M - Series B - Sep 2021
DigiSure (2019, United States)
$13.1M - Series B - Aug 2021
Collective B.. (2019, United Kingdom)
$10.0M - Series B - Nov 2021
Collective B.. (2019, United Kingdom)
$8.3M - Series A - Jul 2021
InShare (2001, United States)
$7.5M - Seed - Aug 2021

28. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Force Code Technology (2017, China)
$46.2M - Series B - Apr 2021
Vymo (2013, United States)
$22.0M - Series C - Feb 2022
FINLEX (2015, Germany)
$9.4M - Series A - Aug 2021
iLife (2019, United States)
$4.0M - Seed - May 2021
MFast (2017, Vietnam)
$1.5M - Seed - Jun 2021
Lyyna (2020, Switzerland)
Undisclosed - Seed - Mar 2021
emilian (2020, Switzerland)
Undisclosed - Seed - Nov 2021
View all 8 Funding Rounds on Tracxn Platform
Insurance Sales & Marketing Software
21
28
Back to index
Insurance IT (Guidewire)
(# Cos: 2470 | $10.3B)
Corporate Functions (Assurone)
(# Cos: 424 | $956M)
Sales & Marketing (Vymo)
(# Cos: 302 | $676M)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$83.1M (▲38.8%)
8(▼42.9%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
31
$676M
92
2
302
12
Vymo
(2013, United States, $45.0M)
Assurone
(2004, France, $20.4M)
Vlocity
(2014, United States, $163M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

29. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Internet First On Demand Insurers
22
29
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$65.8M (▲96.9%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$125M
6
-
14
2
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3404 | $35.5B)
Internet First Insurers (Oscar)
(# Cos: 1075 | $23.5B)
Diversified (Lemonade)
(# Cos: 172 | $4.2B)
Usage-based (Sunday)
(# Cos: 20 | $202M)
On Demand (Getsafe)
(# Cos: 14 | $125M)
Getsafe
(2015, Germany, $110M)
Yolo
(2017, Italy, $11.4M)
DHFL General Insurance
(2016, India)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Getsafe (2015, Germany)
$63.0M - Series B - Oct 2021
VSure (2017, Malaysia)
$2.8M - Seed - Aug 2021

30. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Internet First Liability Insurers
23
30
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$65.1M (▲272%)
3(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$182M
17
1
47
6
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3404 | $35.5B)
Internet First Insurers (Oscar)
(# Cos: 1075 | $23.5B)
P&C (Next Insurance)
(# Cos: 730 | $10.6B)
Liability (Jones)
(# Cos: 47 | $182M)
Jones
(2017, United States, $20.3M)
Huckleberry
(2017, United States, $22.0M)
Buildbunker
(2015, United States, $18.1M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Coterie (2018, United States)
$50.0M - Series B - Oct 2021
Jones (2017, United States)
$12.5M - Series A - Jul 2021
Surround Insu.. (2018, United States)
$2.6M - Seed - Mar 2021

31. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Sproutt (2019, United States)
$26.0M - Series B - Sep 2021
Amplify (2019, United States)
$12.0M - Series A - Jan 2022
Anorak (2017, United Kingdom)
$7.1M - Series A - Jun 2021
JennyLife (2007, United States)
$3.8M - Series A - Jun 2021
Amplify (2019, United States)
$2.5M - Seed - Jul 2021
CompariSure (2017, South Africa)
$985K - Seed - Jan 2022
PolicyMe (2018, Canada)
Undisclosed - Seed - Dec 2021
Life Insurance Comparison Platforms
24
31
Back to index
Internet First Insurance Platforms (NerdWallet)
(# Cos: 3404 | $35.5B)
Insurance Comparison Platforms (Policybazaar)
(# Cos: 1860 | $10.7B)
Life (Tomorrow)
(# Cos: 95 | $111M)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$52.4M (▲2206%)
7(▲250%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
9
$111M
21
-
95
4
Tomorrow
(2015, United States, $21.6M)
Blueprint Income
(2014, United States, $3.5M)
JennyLife
(2007, United States, $7.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

32. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Insurance Risk Management
25
32
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$48.7M (▲229%)
10(▲150%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
16
$213M
49
-
108
5
Insurance IT (CoreLogic)
(# Cos: 2470 | $10.3B)
Insurance Policy Solutions (Guidewire)
(# Cos: 1587 | $5.8B)
RegTech (FRISS)
(# Cos: 174 | $812M)
Risk Management (Riskonnect)
(# Cos: 108 | $213M)
Riskonnect
(2007, United States, $10.0M)
RMS
(1989, United States)
Cyence
(2014, United States, $40.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Our Kettle (2019, United Kingdom)
$25.0M - Series A - May 2021
Aclaimant (2009, United States)
$15.0M - Series B - Mar 2021
Continuity (2019, France)
$5.6M - Seed - Nov 2021
Virtual i (2017, Switzerland)
$2.0M - Seed - Aug 2021
Intelligent AI (2020, United Kingdom)
$558K - Seed - Apr 2021
Rikor (2020, United States)
$500K - Seed - Feb 2022
Inclusion Score (2018, United States)
$30.0K - Seed - Aug 2021
View all 10 Funding Rounds on Tracxn Platform

33. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Internet First Usage Based Insurers
26
33
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$46.1M (▲412%)
5(▲66.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$202M
11
-
20
3
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3404 | $35.5B)
Internet First Insurers (Oscar)
(# Cos: 1075 | $23.5B)
Diversified (Lemonade)
(# Cos: 172 | $4.2B)
Usage-based (Getsafe)
(# Cos: 20 | $202M)
Getsafe
(2015, Germany, $110M)
Sunday
(2017, Thailand, $75.0M)
Vitality
(2004, United Kingdom, $500K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Getsafe (2015, Germany)
$63.0M - Series B - Oct 2021
Sunday (2017, Thailand)
$45.0M - Series B - Sep 2021
VSure (2017, Malaysia)
$2.8M - Seed - Aug 2021
SafeTree (2020, India)
$1.0M - Angel - Sep 2021
SafeTree (2020, India)
$68.6K - Angel - Mar 2021

34. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Hi Marley (2015, United States)
$25.0M - Series B - Mar 2021
Sureify (2012, United States)
$15.0M - Series C - Sep 2021
Clustar (2018, China)
$11.0M - Series A - May 2021
Zennify (2013, United States)
$7.5M - Series A - Dec 2021
Plum Life (2020, United States)
$5.3M - Seed - Mar 2022
Relativity6 (2016, United States)
$5.1M - Series A - Feb 2022
Ennabl (2020, United States)
$4.0M - Seed - Feb 2022
View all 10 Funding Rounds on Tracxn Platform
CRM for Insurers
27
34
Back to index
Insurance IT (Guidewire)
(# Cos: 2470 | $10.3B)
Corporate Functions (Vymo)
(# Cos: 424 | $956M)
CRM (Zipari)
(# Cos: 104 | $203M)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$39.3M (▲ >10K%)
10(▲66.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$203M
34
2
104
8
Zipari
(2014, United States, $44.8M)
NexJ
(2003, Canada, $22.9M)
Hi Marley
(2015, United States, $41.7M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

35. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Internet First Renter Insurance
28
35
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$34.3M (▲564%)
4(▼55.6%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$451M
13
-
29
8
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3404 | $35.5B)
Internet First Insurers (Oscar)
(# Cos: 1075 | $23.5B)
P&C (Next Insurance)
(# Cos: 730 | $10.6B)
Property (HomeTree)
(# Cos: 67 | $1.6B)
Renters (Rhino)
(# Cos: 29 | $451M)
Rhino
(2016, United States, $173M)
The Guarantors
(2014, United States, $26.7M)
Urban Jungle
(2016, United Kingdom, $22.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Insurami (2018, United Kingdom)
$57.9M - Series C - Oct 2021
Jetty (2015, United States)
$23.0M - Series C - Sep 2021
Urban Jungle (2016, United Kingdom)
$11.3M - Series A - Jun 2021
Jetty (2015, United States)
Undisclosed - Series C - Feb 2022

36. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Internet First Consumer Electronics
Insurers
29
36
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$21.2M (▲706%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$362M
21
-
71
4
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3404 | $35.5B)
Internet First Insurers (Oscar)
(# Cos: 1075 | $23.5B)
P&C (Next Insurance)
(# Cos: 730 | $10.6B)
Consumer Electronics
(SquareTrade)
(# Cos: 71 | $362M)
SquareTrade
(1999, United States, $247M)
OneAssist
(2011, India, $41.7M)
Onsitego
(2010, India, $30.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Upsie (2013, United States)
$18.2M - Series A - May 2021
AKKO (2018, United States)
$3.0M - Seed - Sep 2021

37. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Innoveo (2007, Switzerland)
$15.0M - Series A - Apr 2021
Nuon (2020, United Kingdom)
$413K - Seed - Sep 2021
Insurance Product Development
30
37
Back to index
Insurance IT (CoreLogic)
(# Cos: 2470 | $10.3B)
Insurance Policy Solutions (Guidewire)
(# Cos: 1587 | $5.8B)
Product Development (SE2)
(# Cos: 37 | $51.4M)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$15.4M (▲64.3%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$51.4M
18
-
37
3
SE2
(2005, United States)
REIN
(2015, United States, $14.3M)
Montoux
(2012, United States, $10.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

38. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Telematics for Auto Insurance
31
38
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$15.0M (▲47.2%)
3(▼25%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
17
$1.0B
72
2
198
12
Insurance IT (Guidewire)
(# Cos: 2470 | $10.3B)
Data and Monitoring Solutions (CoreLogic)
(# Cos: 427 | $3.2B)
Usage-based (SecurityScorecard)
(# Cos: 307 | $2.5B)
Property & Casualty (BitSight)
(# Cos: 232 | $2.2B)
Auto (Cambridge Mobile Telematics)
(# Cos: 198 | $1.0B)
Cambridge Mobile Telem..
(2010, United States, $503M)
GreenRoad
(2004, United States, $87.0M)
Octo Telematics
(2002, United Kingdom)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
CarIQ (2013, India)
$15.0M - Series B - Aug 2021
Targa Telematics (2015, Italy)
Undisclosed - Seed - Jun 2021
AiCare (2020, Kenya)
Undisclosed - Seed - May 2021

39. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Internet-First Usage Based Property and
Casualty Insurers
32
39
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$7.2M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$786M
16
-
21
6
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3404 | $35.5B)
Internet First Insurers (Oscar)
(# Cos: 1075 | $23.5B)
P&C (Clearcover)
(# Cos: 730 | $10.6B)
Diversified (Next Insurance)
(# Cos: 110 | $4.4B)
Usage-based (Hellas Direct)
(# Cos: 21 | $786M)
Hellas Direct
(2011, Greece, $66.9M)
Coya
(2016, Germany, $40.0M)
Inzmo
(2015, Estonia, $6.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Hellas Direct (2011, Greece)
$38.2M - Series C - Jun 2021
Super (2019, Mexico)
$7.2M - Series A - Jul 2021

40. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Wrisk (2016, United Kingdom)
$6.5M - Series A - May 2021
Insurance Trading
33
40
Back to index
Insurance IT (CoreLogic)
(# Cos: 2470 | $10.3B)
Insurance Policy Solutions (Guidewire)
(# Cos: 1587 | $5.8B)
Insurance Trading (Ledger Investing)
(# Cos: 20 | $60.2M)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$6.5M (▼59%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$60.2M
11
-
20
4
Ledger Investing
(2016, United States, $20.9M)
Wrisk
(2016, United Kingdom, $14.3M)
Tremor
(2017, United States, $16.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

41. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
InsurTech - Top Business Models Report
Recent Funding Rounds
Internet First Crop Insurers
34
41
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.2M (▼80%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$16.8M
8
-
14
2
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3404 | $35.5B)
Internet First Insurers (Oscar)
(# Cos: 1075 | $23.5B)
P&C (Next Insurance)
(# Cos: 730 | $10.6B)
Crop (Pula)
(# Cos: 14 | $16.8M)
Pula
(2015, Switzerland, $7.0M)
FarmCrowdy
(2016, Nigeria, $2.0M)
OKO
(2017, Israel, $1.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
OKO (2017, Israel)
$1.2M - Seed - Apr 2021

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