Outliers or Unicorns has increased fivefold since 2017

Outliers or “Unicorns” has increased fivefold since 2017

In the sample used to make this report, Insurtech companies have been categorized into 3 main categories: startups, scale ups and outliers or unicorns.

When we talk about startups, we refer to Insurtechs founded less than 3 years ago and with a maximum total funding amount received of $5M. Scale ups, represent those Insurtechs that have received a total funding amount between $5M to $ 100M, a maximum of 2 years between funding rounds and a Crunch Base ranking in the 25%-30% band.

Finally, outliers or unicorns are those Insurtechs that have received more than $100M of funding and have a valuation exceeding $1B. It is interesting to note that outliers, which represent just 10% of Insurtechs in the sample, concentrate 75% of 2021 funding. It is also worth highlighting that startups, 45% of the sample, represent just 2% of the total funding amount.

2021 Outliers Unicorns by cluster

The top unicorns during 2021 by cluster

In order to analyze the most relevant companies from 2021 (outliers or unicorns), these have been grouped in 6 clusters according to the main attributes they all share.

These clusters are: Seamless Distribution, Indian Giants, Simple Life & Health, Fast & Easy Mobility, New Horizons and Tech-fueled Innovation.

The investors behind the 2021 unicorns

The investors behind the 2021 unicorns

The previous graph shows the investors behind the most relevant outliers “unicorns” from 2021.