Start-up funding

State Farm, Aflac and Gallagher executives talk about what they look for when considering insurtech startups for investment.

February 5 is the last day to apply. Finalists will present at the group's March conference and compete for product and service prizes.

Brittany Clements, managing director at American Family Ventures (AFV), the venture capital arm of insurer American Family, spoke about how the fund evaluates insurtech startups to back or partner with, and partnership and disruption trends.

Brittany Clements of American Family Ventures spoke to Digital Insurance about the insurtech investment fund, and shared details about how it backed certain startups.

Global insurtech funding increased from about $917 million in the second quarter of this year to about $1.1 billion in the third quarter.

There were about 40 funding events in the insurtech sector in September, according to a review by Digital Insurance.

Today, when life insurtechs start fundraising, VCs ask them about their loss ratios—an impact of the insurtech 1.0 market crashes. But this question signals that venture capitalists still have a nascent understanding of the overall insurtech ecosystem and the various business models within.

There were more than 40 funding events in the insurtech sector in July, according to a review by Digital Insurance.

There were more than 30 funding events in the insurtech sector between June 1 and June 30, 2023, according to a review by Digital Insurance.

Having first focused on pet insurance, the seven-year-old firm has since expanded into parcel, fire, home and health products. It also insures digital assets from hacking and malware and theft.