InsurTech unicorn describes startups that are valued at more than $1 bn. Global InsurTech funding stabilizes and is expected to reach $4.2 bn by the end of 2024 after insurtech funding fell to $1 bn mn in Q4’2024, the lowest since Q4’2020. The industry saw no quarterly $100 mn+ mega-round deals for the first time since Q3’2017.
According to Beinsure Data, 35 insurtech unicorns (>$1 bn) raised up to 2025 more than $20.2 bn venture capital with cumulative valuation ~$106 bn.
Q3 2024 closed with an investment in insurtech of $3.2 bn, 7% less than in 2023. However, the trend is positive and suggests a rebound in funding in the fourth quarter, marking the ecosystem’s stability at 2018 levels.
TOP 20 InsurTech Unicorns
| № | InsurTech | Country | Valuation, $ bn | VC raised, $ mn |
| 1 | Devoted Health | US | 13,0 | 2 300 |
| 2 | NeueHealth | USA | 11,1 | 2 000 |
| 3 | Ping An Medical and Healthcare | CN | 8,8 | 1 100 |
| 4 | Root Insurance | USA | 6,7 | 528 |
| 5 | Hippo Insurance | USA | 5,6 | 710 |
| 6 | Coalition | US | 5,0 | 770 |
| 7 | Shuidi | CN | 4,7 | 604 |
| 8 | Wefox | DE | 4,5 | 1 500 |
| 9 | Alan | FR | 4,4 | 749 |
| 10 | Clover Health | USA | 4,1 | 925 |
| 11 | Ethos | US | 2,7 | 416 |
| 12 | Next Insurance | US | 2,5 | 1 100 |
| 13 | Newfront | US | 2,2 | 312 |
| 14 | bolttech | SG | 2,1 | 593 |
| 15 | Edaili | CN | 2,0 | 16 |
| 16 | Essence Healthcare | US | 1,9 | 243 |
| 17 | Zeta Global | USA | 1,9 | 338 |
| 18 | Medbanks | CN | 1,8 | 578 |
| 19 | MediTrust Health | CN | 1,7 | 442 |
| 20 | Lemonade | USA | 1,6 | 522 |