2021 The Year of the Insurtech Unicorn
2021 has gone into overdrive for Insurtech funding. There’s a unicorn appearing around every corner! Recent additions have been:
wefox who have simplied insurance and recently secured $650 million to take their valuation to over ￡3 billion.
Bought By Many who provide pet insurance secured $350 million taking their value to over $2 billion.
Zego offer commercial motor insurance and were the first UK Insurtech unicorn raising $150 million in March 2021 giving them a valuation of $1.1 billion.
Digit Insurance are an Indian Insurtech and became the first Insurtech unicorn of 2021 achieving a b=valuation of $1.9 billion.
The million dollar (or in this case billion dollar!!) question is where will the next crop of unicorns come from? With the levels of investment being seen so far in 2021, I’m sure it’s not going to be long until we find out.