2021: First-Timers
170+ insurance companies announced – for the first time – an investment round in 2021. We’re going to break it down (showing 💰 for disclosed rounds only) – just like last year:
🍄 I. Insurers
1. China Post Life Insurance; wholly state-owned life insurance company, China, $1.8B Corporate Round. 2. Dinghe Insurance; insurance company for non-life insurance products, China, $1B Corporate Round. 3. Convex Group; international specialty insurer and reinsurer, Bermuda, $500M Private Equity. 4. ERS Insurance; car insurer, UK, $350M Private Equity. 5. Fortegra; insurance services provider for warranty solutions, credit insurance, and specialty programs, US, $200M Private Equity. 6. bolttech; digital insurer, Singapore, $180M Series A. 7. AgeSA; life insurance and pension company, Turkey, $172M Post IPO. 8. MagMutual; provider of medical professional liability insurance, US, $100M Debt Financing. 9. TypTap; online flood and home insurance, US, $100M Private Equity. 10. Carrot General Insurance; digital insurance company, South Korea, $88M series unknown. 11. LIO Insurance; commercial insurance carrier, US, $78M series unknown. 12. Ategrity Specialty; E&S insurer, US, $75M Private Equity. 13. Acheel; digital insurer, France, $35M Series Unknown. 14. Avo Insurance; digital insurer, Hong Kong, $33M Series Unknown. 15. Max Bupa; JV between Max India Limited and UK-based healthcare services expert, Bupa, India, $13M Corporate Round. 16. Mila; digital insurer, France, $12M Seed. 17. Justos; car insurance provider, Brazil, $3M Seed. 18. Flix; home insurance and assistance services, Brazil, $1M Seed. 19. Aviva; global insurer, UK, N/A. 20. FBD Holdings; general insurer, Ireland, N/A. 21. Picnic Insurance; digital insurer, owned by customers, where customers review claims & share all profits, Australia, N/A. 22. Royal Exchange General Insurance Company; general insurance provider, Nigeria, N/A.
💻 II. Tech Providers
1. SIMON; online distribution platform for financial professionals, US, $100M Series B. 2. Healthcare Fraud Shield; provider of fraud, waste and abuse solutions to healthcare insurance payers, US, $50M Private Equity. 3. Rasan Information Technology; insurance aggregator, Saudi Arabia, $24M Series Unknown. 4. Hyperexponential; provider of mathematical modeling software for the commercial insurance sector, UK, $18M Series A. 5. Lula Technologies; insurance APIs, US, $18M Series A. 6. Greater Than; AI-based risk intelligence and connected car service provider, Sweden, $16.3M Series Unknown. 7. Genasys Technologies; cloud-based insurance management system, UK, $16.2M Series Unknown. 8. Lecheng Cloud Service; cloud SaaS insurance platform, China, $15.7M Seed. 9. TrustLayer; automated insurance verification, US, $6.6M Seed. 10. Insurama; a platform for the digital distribution of insurance, Spain, $6M Seed. 11. Continuity; augmented underwriting tech, France, $5.6M Seed. 12. Ascend; premium financing and payments platform, US, $5.5M Seed. 13. DigitalOwl; claims platform that reads and analyzes medical documents, Israel, $5M Seed. 14. AppMan; POS distribution tech, Thailand, $4.6M Series A. 15. iLife Technologies; life insurance aggregator, US, $4M Seed. 16. Ennabl; data platform for brokers, US, $4M Series Unknown. 17. Joshu; online distribution platform for commercial insurance, US, $3.7M Seed. 18. Agency MVP; ML to turn data into intelligence and prospects into customers, US, $3.5M Seed. 19. Billy; insurance and risk management platform for construction and real estate, US, $3.5M Seed. 20. Root; insurance infrastructure, South Africa, $3M Seed. 21. Archmir; vehicle damage assessment, Turkey, $2.4M Seed. 22. Talem Health Analytics; AI platform to process bodily injury claims, US, $1.8M Seed. 23. Climate X; climate risk management company, UK, $1.5M Pre Seed. 24. Lyanne; claim assistance service, France, $1.4M Seed. 25. iink Endorsements; home claim and endorsement management platform, US, $0.9M Seed. 26. Riskwolf; insurance protection against internet outages, Switzerland, $0.8M Pre Seed. 27. nSurely; usage-based auto insurance platform for individuals, Ireland, $0.6M Pre Seed. 28. Percayso Inform; provider of data intelligence for insurance insurers and brokers, UK, $0.6M Equity Crowdfunding. 29. Quotall; e-trading insurance software, UK, $0.5M Equity Crowdfunding. 30. Nuon AI; insurance software, UK, $0.4M Pre Seed. 31. MajorBoost; AI tools for faster answers to insurance questions, US, $0.4M Pre Seed. 32. House of Insurtech; software development company, UK, $0.3M Seed. 33. Pilotbird; insurance analytics product company, US, $0.3M Convertible Note. 34. SALT Insure; home and auto insurance app, US, $0.3M Seed. 35. Rainwalk Technology; SaaS platform provider for pet insurance, US, $0.2M Pre Seed. 36. Upsurance; a portal for mid-market commercial insurance, US, $0.2M Pre Seed. 37. Claim Fund; accelerating receivables in the restoration industry, $0.1M Pre Seed. 38. Klaim; medical claim management and financing platform, Dubai, $0.1M Pre Seed. 39. WingDriver; smartphone AI tech for driver and vehicle monitoring, US, $0.1M Angel. 40. AiCare; telematics insurance system targeting insurance companies, Kenya. 41. Emilian; white label solution to digitize insurance distribution, Switzerland. 42. GlobalCare; insurance distribution platform, Vietnam. 43. HUG HUB; a digital platform to purchase and manage insurance products, UK, N/A. 44. InsureLife; distribution platform for life and P&C insurance, US, N/A. 45. Insurights; AI-powered digital platform for health coverage and benefits questions, Israel. 46. Majesco; software provider and consulting services firm, US. 47. Phythonic AI; ML platform to pull keywords from electronic documents needed in underwriting insurance policies or evaluating claims, US. 48. Seek Now; inspection platform and services, US. 49. Surer; Insurance automation platform, Singapore. 50. Sustema; behavioral analytics engine, Switzerland. 51. tech11; provider of digital P&C core insurance platform, Germany.
🕵️ III. Intermediaries
1. Aon; global professional services firm, Europe, $942.6M Post IPO. 2. Enhance Health; medicare insurance agency, US, $150M Private Equity. 3. Paytm Insurance; the insurance arm of Paytm, India, $122.6M Corporate Round. 4. Slide Insurance; provider of homeowners’ and commercial residential coverage, US, $100M Series A. 5. Circulo Health; Medicaid insurance company, US, $50M Series A. 6. Pathpoint; E&S submission platform formerly known as Outline Insurance, US, $30M Series A. 7. AVLA; insurance for SMEs, South America, $18.1M Series Unknown. 8. Leocare; personal lines insurance provider, Europe, $18.1M Series A. 9. Afilio; retirement, pension, and legal services, Europe, $13M Series A. 10. Honey Insurance; smart home insurance provider, Australia, $11.8M Seed. 11. Fucunbao; mutual aid and health insurance platform focusing on the primary market, $11.4M Series C. 12. Breeze; online long term disability insurance, US, $10M Series A. 13. Counterpart; management liability insurance provider, US, $10M Series A. 14. PlanGap; provider of life insurance products for retirees, US, $9.4M Series A. 15. Symbo Platform; distribution technology provider and agency, Singapore, $9.4M Series A. 16. FINLEX; commercial insurance broker, Europe, $9.4M Series Unknown. 17. 180° Insurance; B2B2C insurance offering, Brazil, $8.2M Seed. 18. Herald API; digital infrastructure for commercial insurance, US, $8M Seed. 19. Assurly; home loan (mortgage) insurance provider, Europe, $7.1M Seed. 20. Get Covered; provider of property coverage, US, $7M Series A. 21. Probus Insurance; insurance broker, India, $6.7M Debt Financing. 22. Anzen Insurance; provider of management insurance for high-growth businesses, US, $5.1M Seed. 23. Sensible Weather; provider of weather guarantee, US, $4M Seed. 24. Trava Security; cybersecurity startup for SMEs, US, $3.5M Seed. 25. Paz Care; employee benefits & health insurance platform, India, $3.3M Seed. 26. Nirvana Insurance; modern fleet insurance that rewards safety, US, $3.2M Seed. 27. Koffie Labs; transportation insurance, US, $3M Seed. 28. Napo; pet insurance provider, UK, $2.8M Seed. 29. Weecover; personal lines insurance offering, Spain, $2.7M Seed. 30. Koop Technologies; specialty brokerage focused on commercial autonomy and robotics, US, $2.5M Seed. 31. Marble; rewards program for home, car, and other personal insurance products, US, $2.5M Seed. 32. Plum Life; digital life insurance platform for agents and advisors, US, $2.5M Seed. 33. Dalma; pet insurance provider, France, $2.4M Seed. 34. Casava; microinsurance underwriter for general and life insurance, Nigeria, $2.1M Seed. 35. Unslashed Finance; insurance products for crypto assets, France, $2M Seed. 36. Stere.io; program capacity platform, US, $2M Seed. 37. Kenko Health; health insurance provider, India, $1.7M Seed. 38. hakuna; embedded product protection, Germany, $1.7M Pre Seed. 39. SHORE Underwriting; specialist underwriter of emerging technology and professional services sectors, Canada, $1.6M Seed. 40. Locket; smart home insurance provider (formerly Hiro), UK, $1.4M Equity Crowdfunding. 41. SentryAg; agricultural service company that offers crop insurance solutions and precision agriculture consultative services, Puerto Rico, $1.2M Series Unknown. 42. Getlife; life insurance provider, Spain, $1.2M Pre Seed. 43. Glazd; provider of renter’s insurance, US, $1M Angel. 44. Nova Benefits; health benefits aggregator, India, $1M Seed. 45. Protect4less; asset protection solutions, UAE, $1M Seed. 46. Rey.id; health insurance services, Indonesia, $1M Pre Seed. 47. Calingo; digital insurance platform for risk protection at the POS, Switzerland, $0.9M Pre Seed. 48. InsurMedix; digital health insurance provider, US, $0.8M Pre Seed. 49. KOBA Insurance; usage-based motor insurer, Australia, $0.7M Equity Crowdfunding. 50. Lime Insurance; provider of private medical coverage, UK, $0.7M Equity Crowdfunding. 51. Boleron; digital-first insurance broker, Bulgaria, $0.6M Seed. 52. BeSafe Rate; hotel reservation protection, Italy, $0.6M Seed. 53. Bimaplan; health and life insurance provider, India, $0.5M Seed. 54. Octamile; insurance distribution platform, Nigeria, $0.5M Pre Seed. 55. ARMD Limited; provider of tool insurance, UK, $0.5M Equity Crowdfunding. 56. Verak; service to discover free insurance for cardholders, India, $0.5M Pre Seed. 57. Vitaance; life insurance provider, Spain, $0.4M Pre Seed. 58. Oyen; digital pet healthcare insurance provider, Malaysia, $0.4M Seed. 59. Joltee; insurance startup focusing on the EV market, France, $0.3M Pre Seed. 60. Cyberangels; cyber insurance for SMEs, Italy, $0.2M Pre Seed. 61. Koverd; digital Insurance advisor, Australia, $0.2M Pre Seed. 62. Amenli; online insurance broker, Egypt, $0.1M Seed. 63. Telivy; embedded cyber insurance solution, US, $0.1M Pre Seed. 64. Cooper Pet Care; pet health insurance, Netherlands, $0.1M Pre Seed. 65. GeoMax; on-demand insurance solutions to cover the cargo and the trucker, US, $0.1M Pre Seed. 66. Grow Corretores; P&C insurance provider, Brazil, $35K Pre Seed. 67. Fairsich; smart car insurance, Germany, $21.4K Pre Seed. 68. ACE Insurance Brokers; insurance broker, Bahrain. 69. Allegory Insurance; app to build a personalized insurance score for auto insurance, Canada. 70. Armadillo; home warranty service, US. 71. baoba; a data-driven marketplace for geo-triggered coverages, US. 72. Fleri; health insurance for migrants, US. 73. HealthySure; employee benefits platform, Asia. 74. Loro Insurtech; SaaS platform to transact insurance policies online, US. 75. Lyyna; distribution platform for insurance, Switzerland. 76. My Policy; the company provides car insurance services using a telematics smart box system, UK. 77. RAYNAL Assurances; insurance provider, Africa. 78. Sekura; sureties broker, Mexico. 79. Sidewalk Insurance; insurance for the neighborhood entrepreneur, US. 80. Socius Insurance Services; P&C and management liability wholesaler, US. 81. SoleSafe; sneaker insurance, US. 82. SUIRE Vie & Patrimoine; personal insurance broker, France. 83. Tricor Insurance; independent insurance agency, US. 84. Willis Towers Watson; global broker, UK. 85. Wingspan; membership service that streamlines income, benefits, and taxes for freelancers, US.
👑 IV. MGAs
1. Omaha National; provider of workers comp and payroll services, US, $45M Series B. 2. Parametrix; parametric insurance for system downtime, Israel, $17.5M Series A. 3. Boxx Insurance; security and insurance solutions against cyber risks, Canada, $9.9M Series A. 4. Honeycomb Insurance; habitational insurance, formerly Agilius, US, $3.3M Series A. 5. Loop Insurance; car insurance MGA, US, $3.3M Seed (followed by a $21M Series A round 8 months later). 6. Kudo Insurance; provider of pay how you drive car insurance, formerly YouToggle, UK, $1M Seed. 7. Tuio; home and renters insurance MGA, Spain, $0.5M Seed. 8. helvengo; SME insurance provider, Switzerland. 9. Joyn Insurance; E&S MGA, US. 10. Shepherd; commercial construction insurance, US.
🚧 V. The Reinsurer
1. Balance Re; dynamic risk management for life insurers, Germany, $10M Series A.