We analyze funding, valuations, and M&A activity in the insurance distribution platform space to understand how the market is maturing.
Insurance distribution platforms are gaining steam.
In May, Bolttech closed a $196M mega-round and wefox announced a $55M follow-on investment to its Series B. Meanwhile, insurance executives are increasingly emphasizing distribution as a priority, with earnings transcript mentions of “insurance distribution” doubling since 2021.
Insurance distribution platforms make it easier for both insurers and non-insurance companies to offer insurance products to customers across multiple channels. Using these platforms, insurers can scale their omnichannel distribution efforts across online/mobile apps, embedded insurance, and agency channels.
In this brief, we use CB Insights data to assess the insurance distribution platform market by looking at:
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- Total funding
- Top-funded companies
- Valuations
- M&A
- Client testimonials
Total funding
Investors have put over $2.2B into the insurance distribution platform market since 2019. Although funding to this market fell significantly between 2021 and 2022 (-53%), it mirrors the overall insurtech funding drop amid last year’s venture slowdown, which was also down 53% YoY.
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