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InsurTech Funding 2015

  • InsurTech categories Marketplace/Aggregator and Insurance Management received the highest funding
  • The importance of InsurTech companies in the German market is increasing

The infographic created by Finanzchef24 shows an overview of funding rounds for InsurTech companies (insurance technology) in 2015. It covers startups as well as established companies, comparing the markets in Germany, UK and USA. The overall result: So far, over 4.5 billion US-Dollars have been invested in digital insurance companies worldwide. In 2015 alone, InsurTech companies raised over 2.65 billion US-Dollars.

Infographic: InsurTech Funding 2015

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Finanzchef24 offers this infographic to journalists of all media. Naming the source © Finanzchef24 allows to use or copy the infographic for editorial content.

The InsurTech business models can be classified into five categories:
 
  • Marketplace/Aggregator:
    distribution model with multiple insurance companies/and or products
     
  • Insurance Management:
    primary focus is on contract and policy management; ranges from mobile-first “digital folders” to enterprise healthcare plans management
     
  • Direct Insurer/Tied Agent:
    distribution model with a single (or at most a few limited) insurance company (companies)
     
  • Peer-2-Peer/Cashback:
    distribution model focusing on products that reimburse (partial) insurance premiums or where claims and damages are shared among a closed buyer group
     
  • Sales Tools/Software:
    insurance tech companies offering tools and software to insurance-related third parties, e.g. insurance companies and brokers
     
The insurance tech companies are each targeting a different audience:
 
  • B2B/SME
  • B2C
  • Broker
     
  • The Health sector is functioning as a special category for the US market
     
Summary
 
  • The importance of InsurTech companies in the German market is rising. The number of startups is rapidly increasing, particularly within the category insurance management.
     

  • In the US market, established companies like Insureon or Cover Hound raised high levels of funding. In Germany however, the amount of money for established InsurTechs was much lower than in the United States.
     

  • InsurTech categories Marketplace/Aggregator and Insurance Management received the highest funding.
     

Sources

CB Insights, Crunchbase and Venture Scanner, press releases of the respective companies;

The infographic provides an overview of the insurance tech industry as well as funding rounds. No claim is made that this is a complete listing.