Note from the CEO: Insurance is fintech too. Yup, always (mostly) overlooked as a dull stodgy field that doesn’t get the attention other sectors get (digital currencies, P2P, etc) new investment does flow to insurance. Big time. So, here are ten names worth taking a look at.
“For a long time, the fintech start-up scene took little interest in the seemingly sleepy world of insurance. Payments, foreign exchange and peer-to-peer lending grabbed the headlines, plus the funding.
But over the past couple of years, all that has changed. Insurtech — or instech — is now attracting entrepreneurs and the investors that back them. ‘Quite a few entrepreneurs who have been in other areas of fintech have moved over to insurance,’ says Matthew Wong of research company CB Insights.
Funding for insurance technology companies rose from $740m in 2014 to $2.7bn a year later, according to CB Insights. This year has also been busy. ‘Deal pace is higher than it was last year,’ says Mr Wong. ‘There’s a lot more enthusiasm, especially at the early stage.'”
The list includes: