A16Z, AXA & GCVP on insurance tech

Chatter rising

Hi there,

The state of cyber insurance modeling has previously been described as “trying to use the count of arrests for a crime to figure out the dollar losses from theft.”

We highlight several of the startups offering risk ratings and FICO-like scores with the aim of allowing carriers to make smarter underwriting decisions around cyber insurance. 

Cheat sheet

In the past three days, investors at Andreessen Horowitz, General Catalyst, and AXA Strategic Ventures each put out blog posts or podcasts on the topic of insurance tech.

Suffice to say, the amount of chatter around insurance in the venture realm is growing fast. We’ve been compiling all of the investor perspectives on insurance, which you can find here. 

By the numbers

Spencer Lazar (@slazar) put some good context around the pervasiveness of insurance giants. There are 46 insurance firms in the Fortune 500. Those 46 firms have an average age of around 95 years and collectively employ over 2 million.

Many of those carriers have been active on the startup investing front. We spent some time at the Corporate Venturing Summit last week, and it became even more clear that the rise of insurance carriers investing in startups won’t stop any time soon. 

Have a great rest of the week.

Matt
@mlcwong

P.S. We’re hosting an insurance tech dinner in NYC for senior-level folks working in corporate strategy, innovation, VC, or corporate M&A on Feb. 25th. Have a few spots left, request an invite.