Insurance Sector Funding Report 2021-2022 in India
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Insurnest publishing market research result for funding of Insurance industry.
Our Insights
- Companies who got funding in 2021, in the last 1 year,
- 60% of companies grew their digital technology team.
- 70% of companies grew their business and sales team.
- 45% of companies grew their finance team.
- Companies who got funding in 2022, in the last 1 year,
- 71% of companies grew their digital technology team.
- 65% of companies grew their business and sales team.
- 52% of companies grew their finance team.
- In 2021 and 2022 highest number of seed rounds took place.
- Startups that raised funds in 2021^ 10% of them re-raised funds in 2022,
- In 2022 Startups acquired Technology companies to strengthen their capabilities.
- We show growth in Insurance Infrastructure startups such as Riscovery, Zopper and InsureMO.
- More funding rounds in General Insurance Sector.
- Total Investment amount grew in 2022 but^ number of investors invested decreased.
- Investment in Insurance sector more than doubled in 2022.
Number of Investors
| Year | No. of Investors |
|---|---|
| 2021 | 67 |
| 2022 | 52 |
InsureTech Startup Funding
Year 2021
$1,630,945,992
| Quarter Month | Quarter | Funding ($) |
|---|---|---|
| Jan - Mar | Q1 | 65M |
| Apr - Jun | Q2 | 207M |
| Jul - Sep | Q3 | 237M |
| Oct - Dec | Q4 | 2004M |
Year 2022
$3,402,099,068
| Quarter Month | Quarter | Funding ($) |
|---|---|---|
| Jan - Mar | Q1 | 89M |
| Apr - Jun | Q2 | 3256M |
| Jul - Sep | Q3 | 277M |
Funding Types
Investors in 2021
- Omnivron - 1
- Better Capital - 1
- Sequoia Capital India - 1
- Axis Bank - 1
- Unicorn India Ventures - 1
- IIFL Asset management - 1
- BlueOrchard Finance S A - 1
- Tirumala Gudla - 1
- iseed - 1
- Intact ventures - 1
- Susheel Tejuja - 1
- Capital Group - 1
- Jungle ventures - 1
- Munich Re Ventures - 1
- Ashish Goyal - 1
- Swiss RE - 1
- Faering Capital - 1
- Venture Catalyts - 1
- Gaurav Munjal - 1
- Titan capital - 5
- Sachin Pillai - 1
- Apis Partners - 1
- Ramakant Sharma - 1
- Survam Partners - 1
- IIFL Asset Management - 1
- Gokul Rajaram - 1
- LV Angel Fund - 1
- Gemba Capita - 1
- Dream Incubator - 1
- BlinC invest - 1
- First Cheque - 1
- ZNL ventures - 1
- Apis Partner - 1
- General Atlantic - 1
- Faering capital - 1
- Goodwater Capital - 1
- Evolvence India Fund - 1
- A91 partners - 1
- TVS capital f unds - 2
- Equanimity Investments - 1
- GGV Capital - 1
- MAGIC f und - 2
- Venture Catalysts - 1
- Charan Singh - 1
- Lok capital - 1
- Multiply ventures - 2
- Kunal Shah - 3
- Better capital - 2
- Surge - 1
- Pentathlon ventures - 1
- Omidyar Network India - 1
- Saujanya Shrivastava - 1
- SEA f und - 1
- Sumit Maniyar - 1
- Y Combinator - 1
- Amino capital - 1
- Karthik Sridhar - 1
- GIC - 1
- Acequia Capital (AceCap) - 1
- Varanium Capital Advisors - 1
- Tiger Global Management - 1
- Bharath Inclusion seed fund - 1
- 9Unicorns Accelerator Fund - 2
- Bessemer Venture Partners - 1
- Lightspeed Venture Partners - 1
- Lightspeed India Partners - 1
- Susquehanna International Group (SIG) - 2
Investors in 2022
- Goodwater capital - 1
- Ashish Sharma - 1
- Zerodha - 1
- Generali Group - 1
- Blume ventures - 2
- Unicorn India Ventures - 1
- Y combinator - 1
- Ramakant sharma - 1
- DLF Family Office - 1
- Vitruvian partners - 1
- Beyond next ventures - 1
- SIG Venture Capital - 1
- Jungle ventures - 1
- Das capital - 1
- Rebright Partners - 1
- IIFL Finance - 1
- Nexus venture partners - 1
- Wellington Management - 1
- Pavitar Singh - 1
- Amansa Capital - 1
- Utsav Somani - 1
- Varun Jaipuria - 1
- Titan capital - 1
- Soma Capital - 1
- Magallanes Impacto FIL - 1
- Northern Arc - 1
- Capital 2B - 1
- Leo Caital India - 1
- Nitin Gupta - 1
- Kunal Shah - 1
- Creaegis - 1
- Abhishek Goyal - 1
- GAWA capital - 1
- Sequoia Capital - 1
- Seeders - 1
- ACE & company - 1
- ICICI venture - 1
- Rahul Gautam - 1
- Dhruv Dhanraj Behl - 1
- Rohan Kumar - 1
- SEA fund - 1
- Alok Mittal - 1
- Marshall Wace - 1
- Haus Khas ventures - 1
- Chiratae Ventures - 1
- Rajiv Dadlani Group - 1
- Niraj singh - 1
- Bessemer Venture Partners - 1
- Relentless Pursuit Partners - 1
- Tiger Global Management - 1
- Ithan Creek Master Investors - 1
- Abu Dhabi investment Authority - 1
Frequently Asked Questions
What were the key highlights of India's insurance sector in 2021-22?
Key highlights included digital transformation acceleration, increased insurance penetration, growth in health insurance, regulatory reforms, and adoption of technology-driven solutions across the sector.
How did the Indian insurance market perform in 2021-22?
The market showed strong growth with increased premium collections, expansion in rural markets, digital adoption, and resilience during the pandemic with continued focus on customer-centric solutions.
What regulatory changes impacted India's insurance sector in 2021-22?
Regulatory changes included digital KYC norms, video-based customer identification, relaxed investment guidelines, and measures to promote insurance inclusion and customer protection.
What trends shaped India's insurance industry in 2021-22?
Trends included accelerated digitalization, health insurance growth, parametric insurance products, insurtech partnerships, and increased focus on customer experience and financial inclusion.
Hitul Mistry
CEO, Insurnest
An InsurTech leader with more than a decade of experience across insurance and technology, focused on solving business problems with the help of technology. Has worked with brokers, insurance carriers, and reinsurance firms across the India, UAE, and US markets.
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