Fintech Genome

VC investing in Insurtech


#1

This gently came to my desk this morning

I´d like to get information on VC specialists in insurtech and related technologies, disruptors or enablers. It can be global or geographically or theme focused. Anyone can help sharing links, experience or databases? Many thanks


#2

hi @EnriqueT I know of some and have one more interview lined up, but if anybody knows about others, this is the place to crowdsource that list.


#3

I believe that is right. A shared Google excel would be a good idea, but needs some initial population from someone more informed than myself to kick off a first dataset.


#4

Warp Speed Capital is a Chinese VC focused on InsurTech investment, if you have any interest to learn what we do, please contact zarc@warpvc.com


#5

Hi, check out XL Innovate. What’s the purpose of your database? I may be able to help :slight_smile:


#6

Quite simply, to built collective knowledge of specialized investors in the field. I believe a bunch of insurance carriers with no critical mass to build their own will increase investments in these vehicles overtime


#7

Hi Enrique, thanks, that makes sense. I will add here as I discover. There are also accelerators that invest in insurtech and many insurance companies utilize them if they can’t build their own fund/innovation program.
PwC DeNovo is also a good database to start looking.


#8

@EnriqueT @PatriciaKroondijk @Zarc @shaul.david If you include Corp VC, quite a few more including MunichRe which is pretty active.


#9

JadeValue from China has a good view for Insurance Tech in Chinese Market.Recently We JV launched a landscape of InsurTech => https://www.linkedin.com/feed/update/urn:li:activity:6287581235501989888


#10

In terms of insurers with VC arms set up (some of these numbers may be out of date, I havent updated in 2 months or so)

Aviva has committed £100m, spent £15m
AXA has committed $250m, spent about $149m
Allianz has disclosed a total comitment but spent $49m
Munich re, also undisclosed commitment, spent $110m
AIG, undisclosed, $600m spent
XL , undisclosed, $71m spent


#11

Thanks @thejpp that is valuable data. Can you reveal source?


#12

Whatever the digital equivalent of shoe-leather reporting is!

A mixture of trawling through press releases, analyst calls, annual reports and crunch base. I have been researching how incumbents can respond to VC backed disruptive start ups and one of the 4 main types of response has been to “become a VC” by setting up an in-house fund. The above list is probably not-comprehensive in terms of who has set up a fund, and i haven’t updated thes “invested” totals in about 8 weeks, but one of the key things to note is that only the largest firms have the financial capacity to deploy enough money here to make a difference. Smaller firms will have to try some of the other routes if they can’t match the financial firepower.

Researched the numbers, and lots of the companies being invested in, to bring the story to life for clients. These are investments of between $50k-$50m across all series of funding. Some can been seen as acquihire investments to rapidly build internal capacity in some skills sets, a lot seem to be about making bets that will pay-off by improving the insurer’s value-chain or customer experience, a few seem to be about longer-term existential threat investments


#13

I am a co-founder of a peer-to-peer insurtech startup, Pineapple, and also an avid dailyfintech reader.

We announced today that we received seed funding of R5.2m (~$400k) from Lireas Holdings which is the strategic investment arm of Hannover-Re Africa. Thought I’d let the dailyfintech readers know firsthand.

You can find out more information in our blog post

Feel free to contact me if you have questions or would like to chat: matthew@pineapple.co.za

All the best!
Matthew Elan Smith