Tracxn - Top business models - Insur Tech - Nov 2021

TRACXN TOP BUSINESS MODELS REPORT
November 19, 2021
INSURTECH

InsurTech - Top Business Models Report Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Contents
InsurTech Funding - Overview 3
Top Funded Business Models 4
One pagers 8
Appendix 44
2

InsurTech - Funding in last 1 year
3
Internet First Insurance Platforms $9.0B
Insurance IT $3.2B
Employer Insurance $818M
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Y Combinator
BrokerTech Ventures
Sure Ventures
8
7
5
Early
Stage
Khosla Ventures
Anthemis Group
Hudson Structured Capital..
5
5
5
Late
Stage
General Catalyst Partners
Accel
Insight Partners
5
4
4
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
United States (60%)
United Kingdom (10%)
Germany (8%)
India (6%)
France (5%)
China (3%)
Mexico (2%)
Others (7%)
$ Funding # Rounds
Devoted Health
(2017, United States)
$1.1B - Series D
Wefox
(2015, Germany)
$650M - Series C
Hippo
$350M - Series F
Bought By Many
(2012, United Kingdom)
$350M - Series D
CollectiveHealth
$280M - Series F
Acko
(2016, India)
$255M - Series D
Next Insurance
$250M - Series D
BitSight
$250M - Series E
Shift Technology
(2014, France)
$220M - Series D
Alan
(2016, France)
$220M - Series D
Bolttech
(2019, China)
$210M - Series A
Coalition
$205M - Series E

Copyright © 2021, 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 $1.7B 15 Devoted Health | $1.1B | Series D Link
2<> 0 Internet-First Property and Casualty Insurers $1.6B 23 Wefox | $650M | Series C Link
3▲3 Insurance Agency Management $676M 10 Wefox | $650M | Series C Link
4▲5 Internet First Auto Insurers $572M 22 Acko | $255M | Series D Link
5<> 0 Insurance Comparison Platforms $571M 30 The Zebra | $150M | Series D Link
6▲5 Internet First Life Insurers $521M 12 Ethos | $202M | Series D Link
7<> 0 Internet First Homeowner Insurers $480M 10 Hippo | $350M | Series F Link
8<> 0 Employee Insurance Benefits Administration $376M 15 Konfío | $125M | Series E Link
9▲4 Internet First Pet Insurers $367M 4 Bought By Many | $350M | Series D Link
10<> 0 Internet First Insurers $331M 16 Digit Insurance | $200M | Series C Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

5
11-- Insurance Fraud Detection $321M 5 Shift Technol.. | $220M | Series D Link
12--
Self-funded Employee Insurance Administration
Solutions
$280M 3 CollectiveHea.. | $280M | Series F Link
13▲12 Health Insurance Comparison Platforms $186M 5 EasyHealth | $135M | Series D Link
14▲8 Internet First On Demand Auto Insurers $175M 3 Zego | $150M | Series C Link
15▼11 Property & Casualty Insurance Software Suite $164M 7 Corvus Insura.. | $115M | Series C Link
16▼4 Internet First Liability Insurers $137M 5 Vouch | $60.0M | Series C Link
17▲4 Employee Insurance Benefits Marketplace $127M 7 Origin | $56.0M | Series B Link
18▲12 Internet First Film Production Insurers $127M 2 Wrapbook | $100M | Series B Link
19▼5 Insurance Sales & Marketing Software $108M 15 Force Code T.. | $46.2M | Series B Link
20▼5 Internet First Usage Based Auto Insurers $103M 12 Zego | $150M | Series C Link

6
21▲10 Internet First On Demand Insurers $93.0M 2 Getsafe | $63.0M | Series B Link
22▼5 Internet First Gig Economy Insurers $85.8M 5 Buckle | $60.0M | Series B Link
23▲3 Insurance Risk Management $49.7M 10 Our Kettle | $25.0M | Series A Link
24▼1 Internet First Usage Based Insurers $46.1M 5 Getsafe | $63.0M | Series B Link
25-- Internet First Worker's Compensation Insurers $39.5M 5 Foresight | $15.0M | Series A Link
26▲2 Life Insurance Comparison Platforms $39.4M 4 Sproutt | $26.0M | Series B Link
27▲2 Internet First Renter Insurance $34.3M 7 Rhino | $95.0M | Series C Link
28▲4 Internet First Travel Insurers $20.0M 2 battleface | $12.0M | Series A Link
29▼11 Internet First Consumer Electronics Insurers $18.2M 1 Upsie | $18.2M | Series A Link
30▼10 CRM for Insurers $17.5M 8 Hi Marley | $25.0M | Series B Link

7
31-- Insurance Quoting Software $17.0M 7 Pathpoint | $30.9M | Series A Link
32▼13 Insurance Product Development $15.4M 2 Innoveo | $15.0M | Series A Link
33▼17 Telematics for Auto Insurance $15.2M 4 CarIQ | $15.0M | Series B Link
34<> 0 Internet First Crop Insurers $7.2M 3 Pula | $6.0M | Series A Link
35--
Internet-First Usage Based Property and Casualty
Insurers
$7.2M 3 Hellas Direct | $38.2M | Series C Link
36▼12 Insurance Trading $6.5M 1 Wrisk | $6.5M | Series A Link

Recent Funding Rounds
Devoted Health (2017, United States)
$1.1B - Series D - Oct 2021
Alan (2016, France)
$220M - Series D - Apr 2021
Oscar (2012, United States)
$140M - Series D - Dec 2020
Friday Health.. (2015, United States)
$100M - Series C - Apr 2021
Beam Dental (2012, United States)
$80.0M - Series E - Mar 2021
Ottonova (2015, Germany)
$47.4M - Series E - Aug 2021
Spot (2017, United States)
$15.0M - Series A - Jul 2021
View all 15 Funding Rounds on Tracxn Platform
Internet First Health Insurers
01
8
Back to index
Internet First Insurance Platforms (Borrowell)
(# Cos: 3275 | $32.5B)
Internet First Insurers (Acko)
(# Cos: 1028 | $21.2B)
Health (Alan)
(# Cos: 91 | $7.1B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.7B (▼19.1%)
15(▼6.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
8
$7.1B
38
1
91
15
Alan
(2016, France, $361M)
Oscar
(2012, United States, $1.6B)
Devoted Health
(2017, United States, $2.0B)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

Internet-First Property and Casualty
Insurers
02
9
Back to index
Taxonomy
Key Stats
$1.6B (▲119%)
23(▲35.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
4
$4.4B
52
2
109
25
(# Cos: 3275 | $32.5B)
Internet First Insurers (Lemonade)
(# Cos: 1028 | $21.2B)
P&C (Acko)
(# Cos: 712 | $9.9B)
Diversified (Coalition)
(# Cos: 109 | $4.4B)
Coalition
(2017, United States, $520M)
Next Insurance
Luko
(2016, France, $84.9M)
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
Pie Insurance (2017, United States)
$118M - Series C - Mar 2021
Luko (2016, France)
$60.6M - Series B - Dec 2020
Branch (2017, United States)
$50.0M - Series B - Jun 2021

Insurance Agency Management
03
10
Back to index
Taxonomy
Key Stats
$676M (▲206%)
10(▼9.1%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
23
$1.2B
65
-
273
7
Insurance IT (CoreLogic)
(# Cos: 2401 | $9.8B)
Insurance Policy Solutions (Guidewire)
(# Cos: 1545 | $5.4B)
Software for Insurance Intermediaries
(Fuse)
(# Cos: 381 | $1.3B)
Insurance Agency Management
(Wefox)
(# Cos: 273 | $1.2B)
Wefox
(2015, Germany, $1.0B)
Agentero
(2017, United States, $23.5M)
Wunderite
Wefox (2015, Germany)
$650M - Series C - Jun 2021
Agentero (2017, United States)
$13.5M - Series A - Jul 2021
Veruna (2015, United States)
$6.0M - Series A - Mar 2021
Wunderite (2015, United States)
$3.0M - Seed - Apr 2021
Xilo (2017, United States)
$2.0M - Seed - Dec 2020
Surer (2017, Singapore)
$1.0M - Seed - Oct 2021
Finology (2017, Malaysia)
$500K - Seed - May 2021

Internet First Auto Insurers
04
11
Back to index
Taxonomy
Key Stats
$572M (▲204%)
22(▲69.2%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
9
$1.8B
62
1
177
17
(# Cos: 3275 | $32.5B)
(# Cos: 1028 | $21.2B)
P&C (Zego)
(# Cos: 712 | $9.9B)
Auto (Acko)
(# Cos: 177 | $1.8B)
Acko
(2016, India, $484M)
Zego
(2016, United Kingdom, $202M)
Metromile
Acko (2016, India)
$255M - Series D - Oct 2021
Clearcover (2016, United States)
Zego (2016, United Kingdom)
Marshmallow (2017, United Kingdom)
$85.0M - Series B - Sep 2021
Justos (2020, United States)
$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

The Zebra (2012, United States)
Insurify (2013, United States)
$100M - Series B - Sep 2021
Policybazaar (2008, India)
$75.0M - Series F - Mar 2021
NerdWallet (2009, United States)
$54.3M - Series B - Dec 2020
Rates.ca (2014, Canada)
$51.0M - Series C - Mar 2021
Turtlemint (2015, India)
$46.0M - Series D - Mar 2021
RenewBuy (2014, India)
$45.0M - Series C - Jun 2021
Insurance Comparison Platforms
05
12
Back to index
Internet First Insurance Platforms (Acko)
(# Cos: 3275 | $32.5B)
Insurance Comparison Platforms (Borrowell)
(# Cos: 1793 | $10.1B)
Diversified (Policybazaar)
(# Cos: 784 | $7.0B)
Taxonomy
Key Stats
$571M (▲38.1%)
30(▲30.4%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
65
$7.0B
207
12
784
33
Policybazaar
(2008, India, $637M)
NerdWallet
RenewBuy
(2014, India, $89.7M)

Ethos (2016, United States)
$202M - Series D - May 2021
Ethos (2016, United States)
$100M - Series D - Jul 2021
Ladder (2015, United States)
$100M - Series D - Oct 2021
Bestow (2016, United States)
$70.0M - Series C - Dec 2020
Bowtie (2017, China)
$22.6M - Series B - Oct 2021
Avibra (2015, United States)
$7.2M - Series B - Apr 2021
DeadHappy (2013, United Kingdom)
$6.5M - Series A - Jan 2021
Internet First Life Insurers
06
13
Back to index
(# Cos: 3275 | $32.5B)
(# Cos: 1028 | $21.2B)
Life (Singlife)
(# Cos: 62 | $1.1B)
Taxonomy
Key Stats
$521M (▲360%)
12(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.1B
29
-
62
8
Singlife
(2014, Singapore, $186M)
Ladder
Ethos

Internet First Homeowner Insurers
07
14
Back to index
Taxonomy
Key Stats
$480M (▲125%)
10(▲66.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$1.1B
22
-
35
6
(# Cos: 3275 | $32.5B)
(# Cos: 1028 | $21.2B)
P&C (Acko)
(# Cos: 712 | $9.9B)
Property (HomeTree)
(# Cos: 68 | $1.5B)
Homeowners (Hippo)
(# Cos: 35 | $1.1B)
Hippo
HomeTree
(2016, United Kingdom, $32.4M)
Kin
Hippo (2015, United States)
$350M - Series F - Nov 2020
Kin (2016, United States)
$64.0M - Series C - May 2021
Hedvig (2016, Sweden)
$45.0M - Series B - Sep 2021
Honey Insurance (2016, Australia)
$11.9M - Seed - Jun 2021
billy (2020, United States)
$3.5M - Seed - Oct 2021
Honeycomb Ins.. (2019, United States)
$3.3M - Series A - Jun 2021
Hiro (2017, United Kingdom)
$2.3M - Seed - Jan 2021

Employee Insurance Benefits
Administration
08
15
Back to index
Employer Insurance (Justworks)
(# Cos: 151 | $2.6B)
Benefits Administration (HealthEquity)
(# Cos: 91 | $1.5B)
Taxonomy
Key Stats
$376M (▲95.6%)
15(▲25%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
12
$1.5B
50
1
91
24
HealthEquity
Justworks
OnSurity
(2020, India, $18.8M)
Konfío (2014, Mexico)
$125M - Series E - Jun 2021
Konfío (2014, Mexico)
$110M - Series E - Sep 2021
Employee Navi.. (2008, United States)
$34.0M - PE - Jan 2021
Level (2018, United States)
$27.0M - Series A - Apr 2021
BestDoctor (2015, Russia)
$26.0M - Series B - Jul 2021
Sana Benefits (2017, United States)
$20.0M - Series A - Oct 2021
OnSurity (2020, India)
$16.0M - Series A - Jul 2021

Internet First Pet Insurers
09
16
Back to index
Taxonomy
Key Stats
$367M (▲244%)
4(▲33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$572M
14
1
36
2
(# Cos: 3275 | $32.5B)
(# Cos: 1028 | $21.2B)
P&C (Acko)
(# Cos: 712 | $9.9B)
Pet (Bought By Many)
(# Cos: 36 | $572M)
Bought By Many
Petplan Insurance
SanteVet
(2003, France, $2.6M)
Bought By Many (2012, United Kingdom)
$350M - Series D - Jun 2021
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

Digit Insurance (2016, India)
$200M - Series C - Jul 2021
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
$30.0M - Series B - Dec 2020
OneDegree (2016, China)
$28.0M - Series B - Aug 2021
Digit Insurance (2016, India)
$18.5M - Series C - Jan 2021
Internet First Insurers
10
17
Back to index
(# Cos: 3275 | $32.5B)
(# Cos: 1028 | $21.2B)
Diversified (Lemonade)
(# Cos: 160 | $2.9B)
Taxonomy
Key Stats
$331M (▲145%)
16(▲60%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
9
$2.9B
57
10
160
15
Lemonade
Coverwallet
Digit Insurance
(2016, India, $442M)

Insurance Fraud Detection
11
18
Back to index
Taxonomy
Key Stats
$321M ( -- )
5( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$456M
14
-
28
3
(# Cos: 2401 | $9.8B)
(# Cos: 1545 | $5.4B)
RegTech (Riskonnect)
(# Cos: 174 | $712M)
Fraud Detection (Shift Technology)
(# Cos: 28 | $456M)
Shift Technology
(2014, France, $320M)
FRISS
(2006, Netherlands, $88.7M)
Skopenow
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

Self-funded Employee Insurance
Administration Solutions
12
19
Back to index
Employer Insurance (HealthEquity)
(# Cos: 151 | $2.6B)
Self-funded Insurance Administration
(CollectiveHealth)
(# Cos: 20 | $776M)
Taxonomy
Key Stats
$280M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$776M
8
-
20
2
CollectiveHealth
Artemis Health
Rest
(1988, Australia)
CollectiveHea.. (2013, United States)
$280M - Series F - May 2021
Benecon (1991, United States)
Undisclosed - PE - Dec 2020
Granular Insu.. (2020, United States)
Undisclosed - Seed - Mar 2021

EasyHealth (2019, United States)
$135M - Series D - Nov 2021
Stride Health (2013, United States)
$47.0M - Series C - Oct 2021
KindHealth (2014, United States)
$4.0M - Series A - Feb 2021
Total Benefit.. (1982, United States)
$440K - Seed - Oct 2021
Maria Health (2015, Philippines)
Undisclosed - Series A - Nov 2021
Health Insurance Comparison Platforms
13
20
Back to index
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3275 | $32.5B)
(# Cos: 1793 | $10.1B)
Health (Stride Health)
(# Cos: 165 | $1.3B)
Taxonomy
Key Stats
$186M (▲1143%)
5(▲150%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
10
$1.3B
44
1
165
8
Stride Health
Bayzat
(2012, United Arab Emi.., $31.0M)
Health IQ

Internet First On Demand Auto Insurers
14
21
Back to index
Taxonomy
Key Stats
$175M (▲760%)
3(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$257M
6
-
15
4
(# Cos: 3275 | $32.5B)
(# Cos: 1028 | $21.2B)
P&C (Clearcover)
(# Cos: 712 | $9.9B)
Auto (Acko)
(# Cos: 177 | $1.8B)
Usage-based (Metromile)
(# Cos: 85 | $747M)
On Demand (Zego)
(# Cos: 15 | $257M)
Zego
Cuvva
VOOM
VOOM (2016, United States)
$15.0M - Series B - Oct 2021
Mile Auto (2017, United States)
$10.3M - Seed - May 2021

Property & Casualty Insurance Software
Suite
15
22
Back to index
Taxonomy
Key Stats
$164M (▼61.7%)
7(▼41.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
19
$926M
38
2
102
11
(# Cos: 2401 | $9.8B)
Insurance Policy Solutions (Tractable)
(# Cos: 1545 | $5.4B)
Insurance Software Suite (Corvus
Insurance)
(# Cos: 565 | $2.5B)
Property & Casualty (Guidewire)
(# Cos: 102 | $926M)
Guidewire
Corvus Insurance
Duck Creek
Corvus Insura.. (2017, United States)
Clyde (2017, United States)
$41.0M - Series B - Oct 2021
Flueid (2017, United States)
Koop (2017, United States)
$2.5M - Seed - Aug 2021
Insurity (1985, United States)
Undisclosed - Series B - Nov 2021
Redkik (2018, Finland)
Undisclosed - Seed - Jun 2021
tech11 (2018, Germany)
Undisclosed - Seed - Apr 2021

Internet First Liability Insurers
16
23
Back to index
Taxonomy
Key Stats
$137M (▲24.9%)
5( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
4
$341M
18
1
47
7
(# Cos: 3275 | $32.5B)
(# Cos: 1028 | $21.2B)
P&C (Acko)
(# Cos: 712 | $9.9B)
Liability (Jones)
(# Cos: 47 | $341M)
Jones
Vouch
Huckleberry
Vouch (2015, United States)
$60.0M - Series C - Sep 2021
Coterie (2018, United States)
$50.0M - Series B - Oct 2021
Jones (2017, United States)
$12.5M - Series A - Jul 2021
Coterie (2018, United States)
$11.5M - Series A - Feb 2021
Surround Insu.. (2018, United States)
$2.6M - Seed - Mar 2021

Employee Insurance Benefits
Marketplace
17
24
Back to index
Employer Insurance (HealthEquity)
(# Cos: 151 | $2.6B)
Benefits Marketplace (CXA Group)
(# Cos: 34 | $326M)
Taxonomy
Key Stats
$127M (▲505%)
7( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
4
$326M
17
-
34
8
CXA Group
(2013, Singapore, $58.0M)
Plum
(2019, India, $20.7M)
Nova
(2020, India, $11.0M)
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
Plum (2019, India)
$4.1M - Seed - Nov 2020
Nova (2020, India)
$1.0M - Seed - Apr 2021

Internet First Film Production Insurers
18
25
Back to index
Taxonomy
Key Stats
$127M (▲3428%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$131M
1
-
4
1
(# Cos: 3275 | $32.5B)
(# Cos: 1028 | $21.2B)
P&C (Acko)
(# Cos: 712 | $9.9B)
Film Production (Wrapbook)
(# Cos: 4 | $131M)
Wrapbook
Pro Photographer’s Ins..
CameraPolicy
(2016, Canada)
Wrapbook (2011, United States)
$100M - Series B - Nov 2021
Wrapbook (2011, United States)
$27.0M - Series A - Mar 2021

Force Code Technology (2017, China)
$46.2M - Series B - Apr 2021
Simplesurance (2012, Germany)
$18.2M - Series D - Dec 2020
Zelros (2015, France)
$11.0M - Series A - Feb 2021
FINLEX (2015, Germany)
$9.4M - Series A - Aug 2021
Penni.io (2016, Denmark)
$6.9M - Series A - Dec 2020
AppMan (2011, Thailand)
iLife (2019, United States)
$4.0M - Seed - May 2021
Insurance Sales & Marketing Software
19
26
Back to index
Insurance IT (Guidewire)
(# Cos: 2401 | $9.8B)
Corporate Functions (Vlocity)
(# Cos: 415 | $924M)
Sales & Marketing (Vymo)
(# Cos: 294 | $663M)
Taxonomy
Key Stats
$108M (▲102%)
15(▲36.4%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
27
$663M
91
2
294
15
Vymo
Vlocity
Assurone
(2004, France, $20.4M)

Internet First Usage Based Auto Insurers
20
27
Back to index
Taxonomy
Key Stats
$103M (▲123%)
12(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$747M
32
1
85
10
(# Cos: 3275 | $32.5B)
(# Cos: 1028 | $21.2B)
P&C (Metromile)
(# Cos: 712 | $9.9B)
Auto (Acko)
(# Cos: 177 | $1.8B)
Usage-based (Zego)
(# Cos: 85 | $747M)
Zego
Metromile
Cuvva
Justos (2020, United States)
$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

Internet First On Demand Insurers
21
28
Back to index
Taxonomy
Key Stats
$93.0M (▲2611%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$122M
5
-
13
2
(# Cos: 3275 | $32.5B)
(# Cos: 1028 | $21.2B)
(# Cos: 160 | $2.9B)
Usage-based (Vitality)
(# Cos: 19 | $199M)
On Demand (Getsafe)
(# Cos: 13 | $122M)
Getsafe
(2015, Germany, $110M)
Yolo
(2017, Italy, $11.4M)
DHFL General Insurance
(2016, India)
$63.0M - Series B - Oct 2021
$30.0M - Series B - Dec 2020

Internet First Gig Economy Insurers
22
29
Back to index
Taxonomy
Key Stats
$85.8M (▲113%)
5(▼16.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$151M
12
-
25
6
(# Cos: 3275 | $32.5B)
(# Cos: 1028 | $21.2B)
P&C (Acko)
(# Cos: 712 | $9.9B)
Gig Economy (Assurely)
(# Cos: 25 | $151M)
Assurely
Cachet
(2018, Estonia, $1.3M)
Tapoly
(2016, United Kingdom, $356K)
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

Insurance Risk Management
23
30
Back to index
Taxonomy
Key Stats
$49.7M (▲238%)
10(▲400%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
15
$188M
49
-
109
4
(# Cos: 2401 | $9.8B)
(# Cos: 1545 | $5.4B)
RegTech (Shift Technology)
(# Cos: 174 | $712M)
Risk Management (Riskonnect)
(# Cos: 109 | $188M)
Riskonnect
RMS
Energetic Insurance
Our Kettle (2019, United Kingdom)
$25.0M - Series A - May 2021
Aclaimant (2009, United States)
$15.0M - Series B - Mar 2021
Energetic Ins.. (2016, United States)
$7.0M - Series A - Oct 2021
Virtual i (2017, Switzerland)
$2.0M - Seed - Aug 2021
Intelligent AI (2020, United Kingdom)
$558K - Seed - Apr 2021
Altumai (2017, United States)
$50.0K - Seed - Feb 2021
Aclaimant (2009, United States)
$50.0K - Series A - Feb 2021

Internet First Usage Based Insurers
24
31
Back to index
Taxonomy
Key Stats
$46.1M (▲130%)
5(▲66.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$199M
10
-
19
3
(# Cos: 3275 | $32.5B)
(# Cos: 1028 | $21.2B)
(# Cos: 160 | $2.9B)
Usage-based (Getsafe)
(# Cos: 19 | $199M)
Getsafe
(2015, Germany, $110M)
Vitality
(2004, United Kingdom, $500K)
Sunday
(2017, Thailand, $75.0M)
$63.0M - Series B - Oct 2021
Sunday (2017, Thailand)
$45.0M - Series B - Sep 2021
$30.0M - Series B - Dec 2020
SafeTree (2020, India)
$1.0M - Angel - Sep 2021
SafeTree (2020, India)
$68.6K - Angel - Mar 2021

Internet First Worker's Compensation
Insurers
25
32
Back to index
Taxonomy
Key Stats
$39.5M ( -- )
5( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$55.1M
7
-
13
5
(# Cos: 3275 | $32.5B)
(# Cos: 1028 | $21.2B)
P&C (Acko)
(# Cos: 712 | $9.9B)
Workers' Compensation (Breeze)
(# Cos: 13 | $55.1M)
Breeze
Asteya
Insurate
Foresight (2007, United States)
$15.0M - Series A - Dec 2020
Asteya (2018, United States)
$10.0M - Seed - Mar 2021
Breeze (2019, United States)
$10.0M - Series A - Aug 2021
Insurate (2019, United States)
$4.5M - Seed - Oct 2021
Asteya (2018, United States)
$25.0K - Seed - Oct 2021

Sproutt (2019, United States)
$26.0M - Series B - Sep 2021
Anorak (2017, United Kingdom)
JennyLife (2007, United States)
Amplify (2019, United States)
$2.5M - Seed - Jul 2021
Life Insurance Comparison Platforms
26
33
Back to index
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3275 | $32.5B)
(# Cos: 1793 | $10.1B)
Life (Tomorrow)
(# Cos: 91 | $144M)
Taxonomy
Key Stats
$39.4M (▲582%)
4(▼20%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$144M
21
-
91
6
Tomorrow
Finect
(2007, Spain)
Ethos

Internet First Renter Insurance
27
34
Back to index
Taxonomy
Key Stats
$34.3M (▲564%)
7(▲40%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$451M
13
-
29
8
(# Cos: 3275 | $32.5B)
(# Cos: 1028 | $21.2B)
P&C (Acko)
(# Cos: 712 | $9.9B)
Property (Hippo)
(# Cos: 68 | $1.5B)
Renters (The Guarantors)
(# Cos: 29 | $451M)
The Guarantors
Rhino
Canopy
Rhino (2016, United States)
$95.0M - Series C - Jan 2021
Insurami (2018, United Kingdom)
$57.9M - Series C - Oct 2021
LeaseLock (2012, United States)
$52.0M - Series B - Feb 2021
Rhino (2016, United States)
$45.2M - Series B - Jan 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 B - Jan 2021

Internet First Travel Insurers
28
35
Back to index
Taxonomy
Key Stats
$20.0M (▲957%)
2(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$26.9M
14
-
63
2
(# Cos: 3275 | $32.5B)
(# Cos: 1028 | $21.2B)
P&C (Acko)
(# Cos: 712 | $9.9B)
Travel (SafetyWing)
(# Cos: 63 | $26.9M)
SafetyWing
International Medical ..
battleface
battleface (2009, United Kingdom)
$12.0M - Series A - Dec 2020
SafetyWing (2017, United States)

Internet First Consumer Electronics
Insurers
29
36
Back to index
Taxonomy
Key Stats
$18.2M (▼47.7%)
1(▼80%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$386M
22
-
71
3
(# Cos: 3275 | $32.5B)
(# Cos: 1028 | $21.2B)
P&C (Acko)
(# Cos: 712 | $9.9B)
Consumer Electronics (Onsitego)
(# Cos: 71 | $386M)
Onsitego
(2010, India, $32.0M)
SquareTrade
OneAssist
(2011, India, $41.7M)
Upsie (2013, United States)
$18.2M - Series A - May 2021

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
Plum Life (2020, United States)
$2.5M - Seed - Oct 2021
Relativity6 (2016, United States)
$50.0K - Seed - Feb 2021
AllinCall Research an.. (2017, India)
$37.4K - Angel - Dec 2020
Zipari (2014, United States)
Undisclosed - Series B - Dec 2020
CRM for Insurers
30
37
Back to index
(# Cos: 2401 | $9.8B)
Corporate Functions (Vymo)
(# Cos: 415 | $924M)
CRM (Zipari)
(# Cos: 104 | $183M)
Taxonomy
Key Stats
$17.5M (▼22.2%)
8(▲60%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$183M
34
2
104
7
Zipari
Sureify
Hi Marley

Insurance Quoting Software
31
38
Back to index
Taxonomy
Key Stats
$17.0M ( -- )
7( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
8
$161M
31
-
97
9
(# Cos: 2401 | $9.8B)
(# Cos: 1545 | $5.4B)
Software for Insurance Intermediaries
(Wefox)
(# Cos: 381 | $1.3B)
Quoting Software (Fuse)
(# Cos: 97 | $161M)
Fuse
(2017, Indonesia, $30.0M)
Covr
Briza
Pathpoint (2017, United States)
$30.9M - Series A - Jun 2021
Fuse (2017, Indonesia)
$30.0M - Series B - Aug 2021
Sayata (2016, United States)
$17.0M - Series A - Aug 2021
Briza (2016, United States)
Telivy (2021, United States)
$125K - Seed - Sep 2021
Propeller (2019, United States)
$50.0K - Seed - Feb 2021
Covr (2013, United States)
Undisclosed - Series B - Apr 2021

Innoveo (2007, Switzerland)
$15.0M - Series A - Apr 2021
Nuon (2020, United Kingdom)
$413K - Seed - Sep 2021
Insurance Product Development
32
39
Back to index
(# Cos: 2401 | $9.8B)
(# Cos: 1545 | $5.4B)
Product Development (SE2)
(# Cos: 38 | $68.4M)
Taxonomy
Key Stats
$15.4M (▼34.1%)
2(▼33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$68.4M
19
-
38
4
SE2
REIN
Boost Insurance

Telematics for Auto Insurance
33
40
Back to index
Taxonomy
Key Stats
$15.2M (▼62.8%)
4(▼20%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
16
$1.1B
71
2
196
13
(# Cos: 2401 | $9.8B)
Data and Monitoring Solutions (CoreLogic)
(# Cos: 418 | $3.1B)
Usage-based (Earnix)
(# Cos: 300 | $2.5B)
Property & Casualty (BitSight)
(# Cos: 231 | $2.2B)
Auto (Cambridge Mobile Telematics)
(# Cos: 196 | $1.1B)
Cambridge Mobile Telem..
GreenRoad
Zendrive
CarIQ (2013, India)
$15.0M - Series B - Aug 2021
DriveX (2019, Estonia)
$242K - Seed - Dec 2020
AiCare (2020, Kenya)
Undisclosed - Seed - May 2021
Targa Telematics (2015, Italy)
Undisclosed - Seed - Jun 2021

Internet First Crop Insurers
34
41
Back to index
Taxonomy
Key Stats
$7.2M (▲1530%)
3(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$16.8M
8
-
14
2
(# Cos: 3275 | $32.5B)
(# Cos: 1028 | $21.2B)
P&C (Acko)
(# Cos: 712 | $9.9B)
Crop (Pula)
(# Cos: 14 | $16.8M)
Pula
(2015, Switzerland, $7.0M)
FarmCrowdy
(2016, Nigeria, $2.0M)
WorldCover
Pula (2015, Switzerland)
OKO (2017, Israel)
$1.2M - Seed - Apr 2021
Hillridge (2018, Australia)
Undisclosed - Seed - Dec 2020

Internet-First Usage Based Property and
Casualty Insurers
35
42
Back to index
Taxonomy
Key Stats
$7.2M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$791M
17
-
22
8
(# Cos: 3275 | $32.5B)
(# Cos: 1028 | $21.2B)
P&C (Acko)
(# Cos: 712 | $9.9B)
Diversified (Coalition)
(# Cos: 109 | $4.4B)
Usage-based (Hellas Direct)
(# Cos: 22 | $791M)
Hellas Direct
(2011, Greece, $66.9M)
Coya
(2016, Germany, $40.0M)
Inzmo
(2015, Estonia, $6.3M)
Hellas Direct (2011, Greece)
$38.2M - Series C - Jun 2021
Super (2019, Mexico)
$7.2M - Series A - Jul 2021
Inzmo (2015, Estonia)
$3.8M - Seed - Jan 2021

Wrisk (2016, United Kingdom)
$6.5M - Series A - May 2021
Insurance Trading
36
43
Back to index
(# Cos: 2401 | $9.8B)
(# Cos: 1545 | $5.4B)
Insurance Trading (Ledger Investing)
(# Cos: 20 | $60.2M)
Taxonomy
Key Stats
$6.5M (▼59%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$60.2M
11
-
20
4
Ledger Investing
Tremor
Wrisk

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