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Meet the investors insuring insurtech’s future

In Q3, VC investment in insurtech startups rose 53% quarter-over-quarter, reversing a downward trajectory that began in 2021.

Insurtech is showing signs of life.

The vertical witnessed a 53% increase in deal value in Q3 compared to the previous quarter, hitting $1.7 billion raised across 115 deals, according to PitchBook’s Q3 2023 Insurtech Report. It’s a turning point for the vertical, which has been on a downward trajectory since 2021. The rise has been driven partially by more private equity investors getting involved: PE firms invested $6.8 billion into the vertical through the first three quarters of the year, surpassing 2022’s total of $4.2 billion.

These are the 10 most active VC investors in insurtech since 2018, according to PitchBook data.

 

Featured image by Julia Midkiff/PitchBook News

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    About Jacob Robbins
    Reporter Jacob Robbins covers artificial intelligence and the venture capital ecosystem for PitchBook. Based in Seattle, Jacob is originally from Massachusetts and holds dual degrees in political science and cinema studies from the American University. His work has previously appeared in Air Mail and Business Insider.
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