TOP-20 Biggest InsurTech Unicorn Startups in the World

InsurTech unicorn describes startups that are valued at more than $1 billion. The global insurtech market size was valued at USD 3.85 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 51.7% from 2023 to 2030. The increasing number of insurance claims worldwide is one of the major factors accentuating the market growth. Auto, life, and home are the most common insurance claims secured by people worldwide. 

TOP-20 InsurTech Unicorns by valuation 2023

InsurTechMost recent valuationVC raised to date
1Bright Health$11.1B$1600M
2Root Insurance$6.7B$527.5M
3PolicyBazaar$5.9B$478.3M
4Shuidi$4.7B$603.9M
5Wefox$4.5B$1300M
6Next Insurance$4.0B$886M
7Ethos Life$2.7B$416.0M
8ManyPets$2.4B$480.4M
9Newfront$2.2B$312M
10Lemonade$1.6B$522M
11Hippo Enterprises$1.5B$709.5M
12At-Bay$1.4B$291.8M
13Marshmallow$1.2B$111.3M
14AgentSync$1.2B$111.1M
15Caribou $1.1B$188.3M
16Acko$1.1B$504M
17Branch Insurance$1.1B$224.5M
18Surest$1.1B$177.5M
19Zego$1.1B$257.7M
20Betterfly$1.0B$205.7M

Source: Beinsure.com by PitchBook Data

TOP-20 InsurTech Unicorns by venture capital raised 2023

InsurTechVC raised to date
1Bright Health Group$1600M
2Wefox$1300M
3Next Insurance$886M
4Hippo Enterprises$709.5M
5Shuidi$603.9M
6Root Insurance$527.5M
7Lemonade$522.0M
8Acko$504.0M
9ManyPets$480.4M
10PolicyBazaar$478.3M
11Ethos Life$416.0M
12Newfront$312.0M
13At-Bay$291.8M
14Zego (Automotive Insurance)$257.7M
15Branch Insurance$224.5M
16Betterfly$205.7M
17Caribou (Financial Software)$188.3M
18Surest$177.5M
19Marshmallow$111.3M
20AgentSync$111.1M

Source: Beinsure.com by PitchBook Data