PitchBook年二季度保险技术报告（英）

EMERGING TECH RESEARCHInsurtech ReportVC trends and innovation spotlightsQ22024REPORT PREVIEWThe full report is available through the PitchBook Platform.CONFIDENTIAL. NOT FOR REDISTRIBUTION. PG 2ContentsInstitutional Research Group AnalysisQ2 2024 Insurtech ReportDataMatthew Nacionales Senior Data AnalystPublishingReport designed by Megan Woodard, Drew Sanders, and Chloe Ladwig Published on September 3, 2024Robert Le Senior Analyst, Emerging Technologyrobert.le@pitchbook.compbinstitutionalresearch@pitchbook.comVertical update3Q2 2024 timeline6Insurtech landscape7Insurtech VC ecosystem market map8VC activity9Innovation spotlight19Blockchains within insurance 20Select company highlights22Coadjute 23PeppercornAI26CONFIDENTIAL. NOT FOR REDISTRIBUTION. PG 6Q2 2024 Insurtech ReportQ2 2024 timelineApr 1May 1Jun 1Jun 30VC dealJune 26 Employee health insurance platform Sidecar Health raises a $165.0 million Series D at a $650.0 million valuation, marking 2024’s largest VC round so far. The insurtech company, known for its upfront pricing model, plans to expand into more US states. The funding, led by Koch Disruptive Technologies, will support growth, including a partnership with Koch Industries to tailor insurance coverage for large employers.VC exitMay 20 Centivo acquires benefits administration platform Eden Health, which previously raised over $140 million in VC. By combining Eden’s virtual-first capabilities with Centivo’s value-based care model, the acquisition not only broadens Centivo’s reach but also strengthens its ability to align incentives across employers, employees, and providers.VC exitApril 1 Title insurer Doma announces it will be acquired by Title Resources Group. The deal values the company at $85.1 million. The insurtech company previously raised over $150 million in VC and went public in 2021 at a valuation of over $3 billion. This deal highlights the stark difference in valuations between the market peak of 2021 and today. Q2 VC deal count summary106total deals3.9%QoQ growth-16.5%YoY growth-25.1%TTM growthQ2 VC deal value summary$1.2Btotal deal value27.1%QoQ growth-15.1%YoY growth-19.2%TTM growthNewsMay 22 Commercial insurtech NEXT Insurance unveils an AI-powered solution that quickly generates customized insurance quotes via LegalZoom. This embedded insurance approach integrates LegalZoom data to enhance underwriting and offer more precise commercial insurance products. We view these partnerships as the next wave of embedded insurance, which is more than just distribution.NewsMay 11 Sproutt, a life insurance startup last valued at $200 million, files for bankruptcy after raising over $38 million in VC from Guardian Life, MS&AD Ventures, and others. Despite acquiring a large distribution channel—life insurance brokerage The Reder Agency—Sproutt struggled to scale, facing challenges in integrating its tech-driven approach with traditional insurance practices. Sproutt is one of many life insurance startups that has failed to find s