Boston, MA -- (SBWIRE) -- 12/19/2016 -- Globally, start-ups received US$1.8 billion in funding in the 12 months to June 2016 - down 20.97% on the previous year - although there were 150 deals in that period, which represented a 44.2% rise on the year before.

The substantially more deals being done in the last year and less overall funds being raised is due to an increase in angel investments and early-stage deals, with 48% of deals last year being angel investments. This is because Axa, Allianz, Munich Re, and Swiss Re have established capital venture funds; usually with a budget of around US$100 million to look into investing in innovation and start-ups.

Zhong An, China's first digital insurer and its best-funded InsurTech startup to date, received US$931 million in 2015, which represented a considerable percentage of the total for that period.

Report Highlights

-Start-ups in insurance have only really been a force in the last few years, and certainly after fintech was well-established.

-Unlike fintech, which offers a direct challenge to the banks ans financial institutions, insurtech start-ups have generally been looking to work with insurers and improve their weakest areas.

-The non-life lines, motor and property in particular, are well ahead of other lines of insurance, in terms of both use of technology and start-up penetration.

-The incumbent insurers are becoming more and more keen to work with start-ups, with several substantial deals being completed globally over the past couple of years.

Get More Details on this Report and a Full Table of Contents at InsurTech Start-up Landscape

Report Scope

The vast majority of insurance start-ups are seeking to enable insurers, not disrupt them.

The industry is very difficult to break into due to competition at an underwriting level, the amount of funds needed and the level of regulation. This means that most insurtech start-ups are targeting the consumer engagement side of the business - improving the processes or helping with regulation and therefore aiming to partner with incumbent insurers.

Motor, health and home insurance are the main areas where innovation has thrived, and relative success has been seen in the use of wearable Fitbits, telematics and connected homes. All three are at relatively early stages of development, but have already seen strong consumer engagement, which is set to increase substantially over the next five years.

Reasons to Get this Report

Primary research, with interviews with people heavily involved in insurance start-ups, including founders and mentors
Breaks the market down by technology, such as big data, peer-to-peer etc., discusses trends, gives examples and insight from relevant primary research
Further break downs into life, non-life and health start-ups
Extensive coverage and analysis of the biggest deals and partnerships around the world in 2016
Insight into upcoming regulation and how it may impact the market
Use of exclusive data from Timetric's survey on the future of technology in insurance

Companies Mentioned in this Report: Oscar, Lemonade, Zhong An, Allianz, Axa, MyFutureNow, Cover Genius, Konsileo, Munich Re, Swiss Re

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