Page 43 - Insurance Times February 2023

Biggest InsurTech Unicorn Startups

in the World

nsurTech unicorn describes startups that are valued 18 Surest $1.1B $177.5M
I at more than $1 billion. The global insurtech market 19 Zego $1.1B $257.7M
size was valued at USD 3.85 billion in 2021 and is
$205.7M
20
Betterfly
$1.0B
expected to expand at a compound annual growth
rate (CAGR) of 51.7% from 2022 to 2030. The increasing
Source: Beinsure.com by PitchBook Data
number of insurance claims worldwide is one of the major
factors accentuating the market growth. Auto, life, and
TOP-20 InsurTech Unicorns by venture
home are the most common insurance claims secured by
people worldwide. capital raised 2022
No. InsurTech VC raised to
TOP-20 InsurTech Unicorns by
date
valuation 2022 1 Bright Health Group $1600M
2 Wefox $1300M
No. InsurTech Most VC raised
recent to date 3 Next Insurance $886M
valuation 4 Hippo Enterprises $709.5M
1 Bright Health $11.1B $1600M 5 Shuidi $603.9M
2 Root Insurance $6.7B $527.5M 6 Root Insurance $527.5M
3 PolicyBazaar $5.9B $478.3M 7 Lemonade $522.0M
4 Shuidi $4.7B $603.9M 8 Acko $504.0M
5 Wefox $4.5B $1300M 9 ManyPets $480.4M
6 Next Insurance $4.0B $886M 10 PolicyBazaar $478.3M
7 Ethos Life $2.7B $416.0M 11 Ethos Life $416.0M
8 ManyPets $2.4B $480.4M 12 Newfront $312.0M
9 Newfront $2.2B $312M 13 At-Bay $291.8M
10 Lemonade $1.6B $522M 14 Zego (Automotive Insurance) $257.7M
11 Hippo Enterprises $1.5B $709.5M 15 Branch Insurance $224.5M
12 At-Bay $1.4B $291.8M 16 Betterfly $205.7M
13 Marshmallow $1.2B $111.3M 17 Caribou (Financial Software) $188.3M

14 AgentSync $1.2B $111.1M 18 Surest $177.5M
15 Caribou $1.1B $188.3M 19 Marshmallow $111.3M
16 Acko $1.1B $504M 20 AgentSync $111.1M
17 Branch Insurance $1.1B $224.5M
Source: Beinsure.com by PitchBook Data
38 January 2023 The Insurance Times