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This blog post examines the different components of the insurance technology (insurtech) ecosystem. We will illustrate what the categories of innovation are and which categories have the most companies. We will also compare the categories in terms of their funding and maturity.
The following infographic summarizes the founding date distribution of Insurance Technology companies to show the percentage of Insurance Technology companies that were founded within a specific time period. It shows that the founding of Insurance Technology companies reached its peak from 2014-Present, with 27% of the companies being founded during this period. Company founding was at the lowest in 2000-2001 and 2002-2003, with only 2% of the companies being founded during those four years. We are currently tracking over 535 companies in 13 categories across 47 countries, with a total of $4.59 Billion in funding. To see the full list of 535 Insurance Technology companies, contact us using the form on www.venturescanner.com.
The following infographic summarizes the average funding for each Insurance Technology category to show which Insurance Technology categories are the best funded. It shows that Product Insurance is in the lead with $63.24 Million funding per company, followed by Auto Insurance with $58.95 Million per company. Please note that this data is based only on Insurance Technology companies that have publicly available funding data. We are currently tracking over 511 companies in 13 categories across 47 countries, with a total of $3.74 Billion in funding. To see the full list of 511 Insurance Technology companies, contact us using the form on www.venturescanner.com.