The insurtech investment landscape has entered a new phase.
Global insurtech deal count increased 17% quarter-over-quarter (QoQ), from 83 in Q4'24 to 97 in Q1'25. After hitting historic lows in late 2024, the market shows signs of recovery.
For founders, this means understanding precisely what insurtech investors seek. Which firms remain active. What they're funding. How to approach them.
This guide provides that intelligence. We've compiled profiles of active insurtech investors. Their portfolios. Investment criteria. Contact methods.
How to pitch your insurtech startup to investors
You've built a working solution. Early pilots with carriers validate your technology. Claims processing time reduced by 70%.
But investors ignore your emails.
Stop sending PDF pitch decks. They vanish in inboxes. You can't see who opened them. Partners can't track which slides matter.
Use trackable links instead. Know when investors open your deck. See time spent per slide. Get alerts when shared internally.
Ellty makes it simple. Share secure links. Track pitch deck engagement. No more guessing if investors saw your work.
Start tracking your pitch deck
30 active insurtech investors
1. Munich Re Ventures
The venture capital arm of Munich Re, one of the world's leading reinsurers.
Investment focus: Insurance innovation, AI/ML for underwriting, climate risk tech
Investment range: Seed to Series B, typically $2M-$15M
Notable investments: Next Insurance, Clearcover, Snapsheet, States Title
Contact: munichreventures.com
2. Anthemis Group
Global platform cultivating change in financial services, including insurance.
Investment focus: Digital insurance platforms, insurtech infrastructure, data analytics
Investment range: Seed to growth, $1M-$50M
Notable investments: SimpleSurance, The Floow, Trov
Contact: anthemis.com
3. MS&AD Ventures
Strategic investor backed by MS&AD Insurance Group.
Investment focus: Next-generation insurance technologies, IoT, AI applications
Investment range: Series A to C, $2M-$20M
Notable investments: Leading US insurtech Series A rounds
Contact: msadventures.com
4. AXA Venture Partners
Global venture capital firm backed by AXA Group.
Investment focus: Enterprise software, fintech/insurtech, digital health
Investment range: Seed to Series C, $1M-$50M
Notable investments: Digital insurance platforms across US and Europe
Contact: axavp.com
5. IA Capital Group
New York-based VC focused on financial services innovation.
Investment focus: Insurtech, fintech, data analytics for insurance
Investment range: Seed to growth, $2M-$25M
Notable investments: Delos Insurance, High Definition Vehicle Insurance
Contact: iacapitalgroup.com
6. Avanta Ventures
CSAA Insurance Group's venture capital arm.
Investment focus: Mobility, insurtech, risk-adjacent technologies
Investment range: Seed to Series B, $1M-$10M
Notable investments: Metromile, Snapsheet, Clearcover
Contact: avantaventures.com
7. MassMutual Ventures
Corporate venture arm of Massachusetts Mutual Life Insurance Company.
Investment focus: Financial wellness, insurtech, enterprise software
Investment range: Series A to C, $3M-$30M
Notable investments: Haven Life, Openly, Embroker
Contact: massmutualventures.com
8. Mundi Ventures
Leading insurtech investor with dedicated insurance focus.
Investment focus: AI for insurance, embedded insurance, climate tech
Investment range: Seed to Series B, €1M-€20M
Notable investments: 10 Series B rounds globally, 50%+ insurtech portfolio
Contact: mundiventures.com
9. Plug and Play Insurtech
Global innovation platform and accelerator.
Investment focus: Early-stage insurtech across all verticals
Investment range: Pre-seed to seed, $25K-$500K
Notable investments: 54 seed rounds in insurtech
Contact: plugandplaytechcenter.com
10. UNIQA Ventures
Venture capital arm of UNIQA Insurance Group.
Investment focus: Future of health, mobility, IoT, blockchain for insurance
Investment range: Seed to Series B, €500K-€10M
Notable investments: ifeel, goUrban, health tech platforms
Contact: uniqaventures.com
11. American Family Ventures
Strategic investor focused on insurance innovation.
Investment focus: Data analytics, insurtech platforms, customer experience
Investment range: Seed to Series B, $1M-$15M
Notable investments: Ring, Branch, Sure
Contact: amfamventures.com
12. QBE Ventures
Strategic investment arm of QBE Insurance Group.
Investment focus: Digital distribution, AI/ML, climate risk
Investment range: Series A to C, $2M-$20M
Notable investments: Cytora, Relay Platform, Zego
Contact: qbeventures.com
13. Nationwide Ventures
Corporate VC backing digital insurance solutions.
Investment focus: P&C innovation, customer experience, data analytics
Investment range: Series A to growth, $3M-$25M
Notable investments: Nexar, Matic, Sure
Contact: nationwideventures.com
14. Insurtech Gateway
UK-based specialist insurtech investor.
Investment focus: European insurtech, B2B solutions
Investment range: Pre-seed to Series A, £250K-£5M
Notable investments: 34 seed rounds, 50%+ insurtech focus
Contact: insurtechgateway.com
No pitch deck yet? Start with this template
15. Cameron Ventures
Seed and early-stage insurtech specialist.
Investment focus: B2B insurtech, enterprise applications
Investment range: Pre-seed to Series A, $500K-$5M
Notable investments: Bland AI, insurtech infrastructure
Contact: cameronventures.com
16. Markd Ventures
Focused exclusively on transformative insurtechs.
Investment focus: Digital brokers, claims automation, embedded insurance
Investment range: Seed to Series A, $1M-$10M
Notable investments: Cake, CrashBay, COVU
Contact: markdvc.com
17. Greycroft
Multi-stage venture capital with insurtech portfolio.
Investment focus: Consumer and enterprise insurtech
Investment range: Seed to growth, $1M-$50M
Notable investments: Lemonade (early investor), Cover
Contact: greycroft.com
18. Lightspeed Venture Partners
Global multi-stage VC with insurtech investments.
Investment focus: Enterprise software, AI-powered insurance solutions
Investment range: Seed to growth, $1M-$100M+
Notable investments: At-Bay, Hippo (early rounds)
Contact: lsvp.com
19. Founders Fund
San Francisco-based VC investing in revolutionary technologies.
Investment focus: Deep tech applications in insurance
Investment range: Seed to late stage, varies widely
Notable investments: Oscar Health (early investor)
Contact: foundersfund.com
20. Clocktower Technology Ventures
Fintech specialist with strong insurtech practice.
Investment focus: B2B insurtech, infrastructure plays
Investment range: Seed to Series B, $2M-$20M
Notable investments: Openly, insurance platforms
Contact: clocktowerventures.com
21. Helvetia Venture Fund
Swiss insurer's corporate venture arm.
Investment focus: European insurtech, digital distribution
Investment range: Seed to Series A, CHF 250K-CHF 5M
Notable investments: Digital insurance platforms in DACH region
Contact: helvetia.com/ventures
22. InsurTech.vc
Dedicated insurtech venture capital firm.
Investment focus: B2B insurtech solutions, European focus
Investment range: Pre-seed to Series A, €500K-€5M
Notable investments: 12 portfolio companies including Neos
Contact: insurtech.vc
23. Brainforest
Early-stage investor in insurtech and fintech.
Investment focus: AI applications, embedded insurance
Investment range: Pre-seed to seed, €250K-€2M
Notable investments: Co-invests with major insurtech VCs
Contact: brainforest.vc
24. 500 Global
Global early-stage investor with insurtech portfolio.
Investment focus: Digital insurance platforms, emerging markets
Investment range: Pre-seed to seed, $150K-$500K
Notable investments: 24 insurtech seed rounds
Contact: 500.co
25. Accel
Global venture capital firm with insurtech investments.
Investment focus: Enterprise insurtech, marketplace models
Investment range: Seed to growth, $1M-$100M+
Notable investments: Lemonade, GoHealth
Contact: accel.com
26. Bessemer Venture Partners
Multi-stage investor with insurtech portfolio.
Investment focus: Cloud-based insurance platforms, vertical SaaS
Investment range: Seed to growth, $1M-$50M+
Notable investments: Insurtech infrastructure plays
Contact: bvp.com
27. General Catalyst
Growth equity investor with insurtech exposure.
Investment focus: Digital health insurance, enterprise solutions
Investment range: Series A to growth, $10M-$100M+
Notable investments: Bright Health, Olive
Contact: generalcatalyst.com
28. Index Ventures
Global VC investing in transformative technologies.
Investment focus: European insurtech, marketplace models
Investment range: Seed to growth, $1M-$50M+
Notable investments: Wefox, Alan
Contact: indexventures.com
29. Oak HC/FT
Healthcare and fintech specialist with insurtech focus.
Investment focus: Digital health insurance, B2B platforms
Investment range: Series A to growth, $5M-$75M
Notable investments: Bright Health, Oscar Health
Contact: oakhcft.com
30. Global Founders Capital
International seed investor with insurtech portfolio.
Investment focus: Digital insurance models globally
Investment range: Seed to Series A, €500K-€10M
Notable investments: 22 insurtech seed rounds
Contact: globalfounderscapital.com
Alternative funding sources
Corporate Venture Arms
Every major insurer runs a venture fund. They bring customers, not just cash.
State Farm Ventures
$100M fund. Focus on customer experience tech.
statefarmventures.com
Liberty Mutual Strategic Ventures
Invests in mobility, climate risk, cyber.
lmstrategicventures.com
Allstate Strategic Ventures
Early-stage focus. Connected home, mobility.
allstate.com/ventures
MetLife Digital Ventures
Global reach. Health, wealth, retirement tech.
metlife.com/ventures
Guardian Strategic Ventures
Benefits tech, digital health crossover.
guardianlife.com/ventures
Accelerators
Plug and Play Insurtech
3-month program. $25K investment. 40+ carrier partners.
Apply: plugandplaytechcenter.com/insurtech
Lloyd's Lab
10 weeks in London. Direct access to Lloyd's market.
lloydslab.com
F10 Zurich
CHF 200K potential. Swiss Re, Generali connections.
f10.global
Techstars + MetLife
$120K investment. North Carolina based.
techstars.com
Hartford InsurTech Hub
Powered by Startupbootcamp. US focus.
insurtech.startupbootcamp.org
Government Grants
Federal SBIR
$150K-$1M for R&D. No equity dilution.
sbir.gov
Connecticut Insurance Grants
Up to $500K for Hartford-based insurtechs.
ctinnovations.com
New York FinTech Innovation Lab
12-week program. Access to NY carriers.
fintechinnovationlab.com
MAS Singapore Grants
Up to S$500K for APAC expansion.
mas.gov.sg/fintech
Revenue-Based Financing
For profitable SaaS. No dilution.
Pipe
Turn MRR into upfront capital.
pipe.com
Capchase
Built for B2B SaaS metrics.
capchase.com
Lighter Capital
Up to $3M. Insurance-friendly.
lightercapital.com
Angel Networks
InsurTech Connect Angels
Active insurance executives writing $25K-$100K checks.
Apply through ITC events.
FinTech Collective
NY-based. Strong insurance connections.
fintechcollective.com
AngelList Insurance Syndicate
Rolling funds focused on insurtech.
angellist.com
What insurtech investors want to see
The Metrics They Actually Check
Loss ratio. That's it.
If you're burning $2 to earn $1 in premium, you're dead. Show them a 60% loss ratio with room to improve, you'll get meetings.
One founder showed 47% loss ratio on renters insurance. Raised $15M in 3 weeks.
The Team Question
"Who's your insurance person?"
No good answer = no check.
Hire someone from Liberty Mutual. Or Progressive. Or State Farm. Someone who sold insurance to these companies for 10+ years. They need to see a familiar face who speaks carrier language.
Proof It Works
Travelers is piloting your software. Put that on slide 1.
Three regional carriers using your API. Lead with that.
Everything else is noise until you prove carriers will pay for it.
The Distribution Problem
Every insurtech founder: "We'll go direct to consumer."
Every insurtech investor: "Next."
You need a carrier partner or a broker network. Full stop. Consumer acquisition costs $500+. Lifetime value rarely justifies it.
Why They Pass
Real reasons investors said no last quarter:
"Founder never worked in insurance. Doesn't understand why carriers won't adopt this."
"Beautiful tech. No path to distribution."
"They think State Farm will just switch to their platform. Delusional."
"Burning $500K/month. Loss ratio at 140%. It's a charity, not a business."
Fix these or don't waste time pitching.
How Ellty helps insurtech founders close funding
See Who's Actually Interested
You email 30 investors. Radio silence.
With Ellty, you know:
- Munich Re spent 12 minutes on your deck = interested
- Anthemis bounced after 30 seconds = not interested
- Avanta shared with partners = very interested
Stop guessing. Start knowing.
Track What Matters
Loss ratio slide gets 2 seconds? Too complex. Fix it.
Pilot results get 5 minutes? Lead with them.
Every pitch improves based on real data.
Follow Up Smart
"Hi Sarah, saw you reviewed our carrier partnerships. Just signed Liberty Mutual as a pilot."
Beats "Just following up" every time.
FAQs
What's the minimum traction for insurtech investors?
B2B: 3 carrier pilots or $500K ARR
MGA: $5M written premium with 12 months data
B2C: 100K users with positive unit economics
How much do insurtech investors typically invest?
Pre-seed: $500K-$2M
Seed: $2M-$7M
Series A: $7M-$20M
Which investors are most active in 2025?
Munich Re Ventures, MS&AD Ventures, Anthemis lead deal count. Start with them.
Do I need insurance experience?
Yes. 70% of funded teams have insurance veterans. No insurance person = no check.
What's the typical response time?
Interested investors respond within 5 days. No response after 2 weeks = pass.
B2B or B2C - what's easier to fund?
B2B. Clear revenue path. B2C needs massive scale before investors care.
When should I start fundraising?
9 months before you need money. Insurance investors move slowly.
Can I raise without a fronting carrier?
For seed, maybe. Series A and beyond - nearly impossible.
What kills most deals?
No insurance experience (40%), bad unit economics (30%), no distribution plan (30%).
How important are pilots?
Everything. One live pilot > 100 slide decks.
