Mark Cuban’s insurance tech bet

An early barometer

Hi there,

Funding to venture-backed startups in India exploded in 2015 as big money investors such as Softbank and hedge fund Tiger Global piled in.

But despite the massive size of the market, only a few Indian insurance startups have attracted investment. Funding has centered on a small group that aggregate policies and offer comparisons across both non-life and life insurance lines.

We mapped out who those startups are and the investors backing India’s insurance tech ecosystem.

Dealflow report card

One such Indian policy aggregator, Easypolicy, captured one of 2016’s early insurance tech deals this week. 

Late last year, Pascal Bouvier, a venture partner at Santander InnoVentures, predicted that more than 100 insurance tech startups would be funded throughout 2016 — meaning 8+ fundings a month.

To date, we’ve seen just a handful globally including FinanceFox and Cuvva in Europe to PolicyGenius in the US.

The biggest in 2016 year-to-date happened today — a $17M Series A to auto insurance comparison site The Zebra. Mark Cuban (also a seed investor) participated in the round.

If you want to keep up with all the latest deals in the space, bookmark this.

The next disruptive business model in insurance

Our Future of Fin Tech Conference in June will feature some exciting insurance tech content and more fin tech perspectives from Betterment CEO Jon Stein to Bain Capital Ventures’ Matt Harris. Just a few more days to take advantage of early-bird pricing.

Have a great rest of the week.

Matt
@mlcwong