From the Publisher: This piece dates back to April 2016, but as we launch and build our site archives, we’ve noted that the insuretech sector is one that gets little press coverge but is an emerging powerhouse within the fintech arena. Hence, it’s one that FintekNews is committed to covering.
“Within the US, just 32% of insurance tech deals went to health insurance startups as deal activity did an about-face and shifted to non-health insurance areas.
In Q1’11, fewer than 10 insurance tech startups raised a financing round. Fast forward to Q1’16 and insurance tech notched its strongest quarter ever on the deal front with more than 45 deals totaling $650M in funding, according to CB Insights data.
On the funding front, Q1’16 marked the second-largest quarter for insurance tech, in large part due to health insurance carrier Oscar‘s $400M mega-round led by Fidelity Investments. Oscar’s round accounted for just over 60% of the funding in the three month period. We’d earlier highlighted Q1’16′s top insurance tech startup hires and 10 largest deals, which totaled $601M in aggregate.”