A deep dive look at the connected insurance technology sector, providing an insurance startup map, trends/insights, and relevant company profile examples.

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Connected Insurance Technology
Startup Overview
October, 2016

2. Insurance
Technology
974 companies across 14
categories from 53 countries
with $16.5B in funding
Consumer Management
(51 Companies)
Education/Resources
(30 Companies)
User Acquisition
(61 Companies)
Life, Home, P&C*
(90 Companies)
P2P Insurance
(29 Companies)
Product
(23 Companies)
Reinsurance
(29 Companies)
Automotive*
(107 Companies)
Employee Benefits
(40 Companies)
Enterprise/Commercial
(94 Companies)
Health/Travel*
(99 Companies)
Data/Intelligence*
(88 Companies)
Comparison/Marketplace
(242 Companies)
Infrastructure/Backend
(196 Companies)The
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Technology startups are entering all insurance business lines
* Category includes connected insurance technology startups

3. Categories leading in Connected Insurance business model adoption
3
Automotive
Use auto data ports to measure exactly
how far, and how well, a user drives
Health
Provide personal fitness devices to track
client active time
Life, Home, P&C
Provide IoT home devices to monitor
appliance usage and give safety warnings
Some categories are starting to see a strong impact to their business models
due to the entry of Connected Insurance startups
Data/Intelligence
Update systems to handle massive
amount of user data in a secure way

4. 4
Connected Insurance categories are dominating VC InsurTech funding
Within InsurTech, categories with Connected Insurance startups account for
81% of all venture funding and 32% of the total startup companies
Total Venture Investing into Categories with Connected Insurance Startups
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20
40
60
80
100
120
0.0
1.0
2.0
3.0
4.0
5.0
6.0
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10.0
Health Insurance Life, Home, P&C Insurance Auto Insurance Insurance Data/Intelligence
CompanyCount
TotalFunding($B)
VC Funding Count

5. 5
Funding into Insurance Technology has grown rapidly
Overall InsurTech funding grew at a CAGR of 52% from 2011-2015,
whereas the Connected Insurance categories have a 97% CAGR
Insurance Technology Funding Over Time*
* The year 2014 excludes a large Chinese-based post-IPO financing event
0
0.5
1
1.5
2
2.5
3
3.5
4
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
TotalFunding($B)
Total InsurTech Funding Connected Insurance Related Category Funding

6. 6
Younger Insurance Technology startups lead in VC funding
Since 2005, 62% of total InsurTech funding and 69% of Connected Insurance
related category funding have gone into startups founded in 2013 and 2014
InsurTech Funding By Vintage Year
0
0.5
1
1.5
2
2.5
3
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
TotalFunding($B)
Year Founded
Total InsurTech Funding Connected Insurace Related Category Funding

7. 7
Top VC investors are making bets in Connected Insurance categories
Select Investor Activity in Connected Insurance Related Categories
0
2
4
6
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10
12
Number of Investments Number of Companies Backed

8. 8
Insurance Technology startups are a global phenomenon
Connected Insurance Startup Count by Country
0 200
Companies

9. Private - Do Not Distribute 9
Automotive Insurance Case Study: Metromile
Funding Founded Loca+on
$205M 2011 San Francisco, USA
Description
• An automotive insurance provider that provides Pay-As-You-
Drive coverage, only charging their clients for the exact
mileage they drive
Notable Events
• Partnered with Uber, the ride hailing app, to offer their drivers the ability to seamlessly
transition between personal and commercial insurance coverage on a per-mile basis
• Recently acquired Mosaic Insurance, an insurance carrier, to handle the underwriting
process and expand into additional geographies
Telematics
• Utilizes an On-Board Diagnostics (OBD) device to wirelessly send driving data to measure the
specific actions of individual clients, such as how far they have driven and how aggressively
they accelerate
• They also use smartphones to collect additional data points as well as to offer additional
services to their clients (such as trip planning and parking location reminders)
OBD Telematics Device

10. Private - Do Not Distribute 10
Health Insurance Case Study: Oscar Health
Funding Founded Loca+on
$728M 2013 New York City, USA
Description
• Provides non-employee health insurance in parts of the
United States
• Couples their coverage with smartphone and web
applications to track data and provide teleHealth functions
Notable Events
• Establishing health centers in New York to provide their members with primary care while
taking full advantage of Oscar’s web and data technologies
• Grew to 145,000 customers in 2016, up from 40,000 customers in 2015
Telematics
• Oscar provides each client with a branded personal fitness device (manufactured by a third
party), and offers premium discounts if the client hits a goal number of steps per day
• Additional data collected by the device, such as sleep time, is provided to healthcare
providers, streamlining and optimizing the caregiving process
Oscar-branded Pedometer

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