Emerging Tech Research: Insurtech

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VC pours money into insurtech as industry looks to future 

Historically, the insurance industry has been slow to adopt new technologies. But over the past five years, the pace of innovation has picked up. Venture capitalists have followed suit by betting big on insurtech, with more deals and more capital. The latest PitchBook Emerging Tech Research quarterly update dives into the trend, including evaluating investment opportunities in insurance core systems and pet insurance.

Takeaways include
 

• In Q2 2021, insurtech companies brought in $4.5 billion across 160 deals. That marked a roughly 110% increase over the previous quarter, thus setting quarterly records for both deal count and deal value.

 

• Valuations for insurtech companies across the globe also soared in the second quarter, with the median early-stage pre-money valuation of insurtech companies surging 39% to $33.1 million.

 

• Led by Bright Health’s $924.0 million June IPO that valued the company at more than $11 billion, the quarter’s exit values for insurtech companies surged to record levels.