Sequoia’s big insurance tech move

BAT gets busy in insurance

Hi there,

Insurance in China is hot. 

Predicted to be the third-largest insurance market by 2020, China has seen a wave of foreign insurers from AXA to Allianz seek joint ventures. Chinese insurer valuations have also soared past those of banks, as premiums soar.

Increasingly though, it’s not just insurers who are eager to be in China’s rapidly growing insurance business. We break down the rising insurance activity by China’s three largest internet giants: Baidu, Alibaba, & Tencent. 

Who’s who in P2P insurance

Last week’s big news in insurance tech was Lemonade’s $13M seed from Aleph and Sequoia to create a new online P&C carrier based on a P2P model. 


While Lemonade plans to be the first online P2P carrier in the space, a number of startups in markets ranging from France to the UK are also working on online P2P insurance models. Here’s a roundup of who’s who.

Speaking of insurance tech deals…

The latest went to Embroker, which we’ve learned raised a $2.1M seed round from investors including Bee Partners & FinTech Collective. Embroker offers a free business insurance software and broker model and plans a public launch in Q1’16. 

Each week, we update the newest financing deals in the insurance tech space, which you can stay up to date with here.

Hope you have a great rest of the week.

Matt
@mlcwong