Introducing Funding Trends via Coverager Data

// This is a brief overview of Funding Trends; available exclusively to Coverager Research members.

  • A total of $885 million was invested in full-stack insurance companies in the US in Q4, 2019 marking the highest quarterly investment in insurers
  • A total of $259 million was invested in L&H companies in the US in 2019 signaling a 39% growth compared to the prior year which saw negative growth
  • A total of  $1.8 billion was invested in P&C companies in the US in 2019 signaling a 96% growth compared to the prior year
  • The average seed investments in 2019 in P&C companies decreased by 14% compared to the prior year while the average seed investments in 2019 in L&H companies increased by 52% compared to the prior year

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Now you can easily access the data above via Coverager Data by navigating to Funding –> Trends:

– The first table presented is Total Investments by Year and Quarter

– The second table presented is Average Investments by Year and Stage:

– Below these tables, you’ll find the data source behind the trends presented:

– The investment data complied includes companies that operate exclusively or primarily in the insurance industry so while N26 or Traveloka may offer insurance and act as insurance intermediaries since their primary industries are finance and travel respectively their investments are excluded from this source

– This is also the place to note that categorizing insurance investments can be tricky at times especially when analyzing technology providers with an insurance verticle; while we believe we’ve nailed this particular category we offer you the ability to view all the companies behind these insurance trends – via the webpage or by exporting the data

– Exporting the data will generate one excel file with three sheets: Funding Rounds, Funding Summary and Funding Stage Summary:

  1. Funding Rounds includes the following columns: Company, Date (of investment round), Amount, Stage, Industry, LOB, Location, Month (of investment), Year (of investment), Quarter (of investment), Total Raised (by the company), and Investors.
  2. Funding Summary and Funding Stage Summary provide views of the two tables mentioned above: Total Investments by Year and Quarter and Average Investments by Year and Stage.

– The data can be filtered by Type (of the company), Location and LOB:

  1. Type – specifically enabler (technology or service provider within the insurance industry), intermediary (oftentimes references an insurance agency) and/or insurer
  2. Location – self-explanatory
  3. LOB – to simplify the analysis we offer the ability to slice the data according to 4 (not mutually exclusive) lines of business:
    • P&C – self-explanatory
    • L&H – self-explanatory
    • Healthcare – self-explanatory
    • Multiline – companies that belong to at least two of the categories mentioned above (P&C, L&H and/or Healthcare)

– Finally, to remove investment noise, the investment rounds exclude corporate, debt, private equity, IPO and secondary market rounds