This report takes a data-driven look at global insurance tech trends with a focus on property insurance.
Last quarter, Covid-19 put investor optimism and consumer confidence on pause.
But after a cautious Q1’20, investment bounced back: In Q2’20, insurtech companies raised $1.56B across 74 deals, representing a 71% quarter-over-quarter jump in total funding.
Q2’20 Insurtech Highlights
- Lemonade became the first US insurtech unicorn to go public
- Direct insurers turned to carrier acquisition to expand capabilities and geographies (i.e. Hippo’s acquisition of Spinnaker and Pie Insurance’s earmarking $100M in its latest raise to purchase a licensed insurance company)
- Share of L&H funding jumped from 17% to 32% of dollars invested as Covid-19 sparked a rush to get life insurance and a movement towards telemedicine
- Outside of the main hubs, global deal activity increased across several new geographies including Taiwan, Croatia, and Hungary — a trend that may continue as investors look to diversify risk
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