Q1 2019 had the highest ever number of insurtech deals in a quarter and it is the third quarter in a row with over $1bn in funding.

In Q1 2019, according to Willis Towers Watson, there were 85 deals with a total value of $1.42bn. While the deal count increased by 35% from the last quarter, the funding volume decreased by 11%.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

54% of all insurtech deals during the quarter took place outside of the US. For comparison, 41% of all insurtech deals in 2016 were outside the US. Insurtech activity outside of the US is clearly increasing.

In the UK, deals went up by 50% in the quarter while it increased by 44% in the US. However, it fell by 38% in China.

In addition, 65% of investments in the quarter were in the Seed and Series A rounds. It also recorded the highest number of Series B and C rounds, with 12 and 6 respectively.

In another record, there were 10 deals over a value of $40m, a 67% increase from the previous quarter. There was also 15 investments over $20m and 11 investments over $30m.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Out of the last 21 quarters (between Q1 2014 and Q1 2019), this latest quarter accounts for 15% of all deals of $40m and over.

What were the largest insurtech deals?

The largest deal of Q1 2019 was a $500m Series E funding round into Clover, a medicare advantage start-up from Greenoaks Capital Management.

Other notable deals included:

  • Wefox received $125m in Series B investment. The German firm’s total funding now stands at $164.31m;
  • Baloise Group invested $84.25m into Friday, a Germany-based car insurer;
  • China-based Shuidihuzhu gained $74m to hit a new total of $105.7m;
  • Acko General Insurance completed a Series C funding round of $65m. This takes its total funding to $107m;
  • Shift Technology also completed a Series C funding round to the tune of $60m which brings its total funding to $99.72m;
  • CoverHound’s Series D round brought in $58m;
  • France-based Alan received $45m from DST Global and Index Ventures;
  • Pie Insurance, which focuses on workers compenation, completed a $45m funding round, and
  • $43m was given to Clearcover in a Series B funding round.