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2023
Insurtech Overview
April 27, 2023
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Buckle up for insurtech’s ride
Insurtech saw huge growth during the COVID-19 pandemic as newly emerging technology startups competed with traditional insurance carriers, but over the past 18 months, the vertical hasn’t fared as well. How bumpy has insurtech’s ride been? Our 2023 Insurtech Overview lays it all out.
Key takeaways:
Table of contents
Buckle up for insurtech’s ride
Insurtech saw huge growth during the COVID-19 pandemic as newly emerging technology startups competed with traditional insurance carriers, but over the past 18 months, the vertical hasn’t fared as well. How bumpy has insurtech’s ride been? Our 2023 Insurtech Overview lays it all out.
Key takeaways:
- Insurtech companies raised $9.4 billion across 617 deals in 2022, a 42% decline in deal value year-over-year.
- Exit activity also dwindled. Last year, $2.4 billion in exit value was generated, as opposed to $36.6 billion in 2021.
- Still, opportunities remain for investors in segments including underwriting and commercial insurance.
Table of contents
| Vertical overview | 3 |
| Insurtech landscape | 5 |
| Insurtech VC ecosystem market map | 6 |
| VC activity | 8 |
| Segment overview | 11 |
| Property & casualty | 12 |
| Health & life | 17 |
| Commercial | 21 |
| Distribution & intermediation | 25 |
| Underwriting | 29 |
| Administration & claims | 33 |