Fast-forward sixteen years and the Swiss reinsurance giant is again investing in tech startups. In June, Swiss Re led direct investments into wearable physiology monitoring company Biovotion and personal data sharing app Digi.me.
Deals drop in Q2
While total funding to insurance tech startups topped $1B in the first half of 2016, deal activity in the insurance tech space fell in Q2’16 after a record quarter for deal pace in Q1’16.
The FT has a profile out today on LA-based but Kenya-targeted mobile lending startup InVenture. The piece mentions InVenture’s ambitions to diversify into other areas of financial services including insurance:
It’s not the first time a fintech startup in another area has publicly mentioned potentially forthcoming insurance products or ambitions. Here are four others:
Number26 – The German neobank, which recently raised an additional $40M, said it eventually wants to explore revenue share deals with potential partners for insurance features.
Branch International – The Andreessen Horowitz-backed mobile lending startup said its five-year end goal included “mortgages, insurance, and other products.”
InsureTech Connect 2016: CB Insights is excited to be joining more than 120 innovators from across the insurance ecosystem at the inaugural InsureTech Connect conference on October 5-6 in Las Vegas.
