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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

<table class="ui celled compact unstackable collapsing table">
  <thead>
    <tr>
      <th>Year</th>
      <th>No. of Investors</th>
    </tr>
  </thead>
  <tbody>
    <tr>
      <td>2021</td>
      <td>67</td>
    </tr>
    <tr>
      <td>2022</td>
      <td>52</td>
    </tr>
  </tbody>
</table>

## InsureTech Startup Funding

<div class="row row-cols-1 row-cols-lg-2">
  <div class="col">
    <div>
    <p class="text-muted mb-1 fs-5">Year 2021</p>
    <h2 class="my-2">$1,630,945,992</h2>
  </div>
    <table class="ui celled unstackable table">
  <thead>
    <tr><th>Quarter Month</th>
    <th>Quarter</th>
    <th>Funding ($)</th>
  </tr></thead>
  <tbody>
    <tr>
      <td>Jan - Mar</td>
      <td>Q1</td>
      <td>65M</td>
    </tr>
    <tr>
      <td>Apr - Jun</td>
      <td>Q2</td>
      <td>207M</td>
    </tr>
    <tr>
      <td>Jul - Sep</td>
      <td>Q3</td>
      <td>237M</td>
    </tr>
    <tr>
      <td>Oct - Dec</td>
      <td>Q4</td>
      <td>2004M</td>
    </tr>
  </tbody>
</table>
  </div>
  
   <div class="col">
    <div>
    <p class="text-muted mb-1 fs-5">Year 2022</p>
    <h2 class="my-2">$3,402,099,068</h2>
  </div>
    <table class="ui celled unstackable table">
  <thead>
    <tr><th>Quarter Month</th>
    <th>Quarter</th>
    <th>Funding ($)</th>
  </tr></thead>
  <tbody>
    <tr>
      <td>Jan - Mar</td>
      <td>Q1</td>
      <td>89M</td>
    </tr>
    <tr>
      <td>Apr - Jun</td>
      <td>Q2</td>
      <td>3256M</td>
    </tr>
    <tr>
      <td>Jul - Sep</td>
      <td>Q3</td>
      <td>277M</td>
    </tr>
  </tbody>
</table>
  </div>
</div>

 <img class="my-5" src="/blog-images/insurance-sector-report/funding-year-graph.svg" alt="">

## Funding Types

 <div class="row row-cols-1 row-cols-lg-2">
  <div class="col">
    <img class="mt-5" src="/blog-images/insurance-sector-report/table-2021.svg" alt="">
  </div>
  
   <div class="col">
    <img class="mt-5" src="/blog-images/insurance-sector-report/table-2022.svg" alt="">
  </div>
</div>

 <div class="row row-cols-1 row-cols-lg-2 mt-5">
  <div class="col">
    <img class="mt-5" src="/blog-images/insurance-sector-report/graph-2021.svg" alt="">
  </div>
  
   <div class="col">
    <img class="mt-5" src="/blog-images/insurance-sector-report/graph-2022.svg" alt="">
  </div>
</div>

## Investors in 2021

 <div class="row row-cols-1 row-cols-lg-2 mt-5">
  <div class="col">
  <ul class="list-group">
   <li class="list-group-item">Omnivron - <span class="fw-bold">1</span></li>
<li class="list-group-item">Better Capital - <span class="fw-bold">1</span></li>
<li class="list-group-item">Sequoia Capital India - <span class="fw-bold">1</span></li>
<li class="list-group-item">Axis Bank - <span class="fw-bold">1</span></li>
<li class="list-group-item">Unicorn India Ventures - <span class="fw-bold">1</span></li>
<li class="list-group-item">IIFL Asset management - <span class="fw-bold">1</span></li>
<li class="list-group-item">BlueOrchard Finance S A - <span class="fw-bold">1</span></li>
<li class="list-group-item">Tirumala Gudla - <span class="fw-bold">1</span></li>
<li class="list-group-item">iseed - <span class="fw-bold">1</span></li>
<li class="list-group-item">Intact ventures - <span class="fw-bold">1</span></li>
<li class="list-group-item">Susheel Tejuja - <span class="fw-bold">1</span></li>
<li class="list-group-item">Capital Group - <span class="fw-bold">1</span></li>
<li class="list-group-item">Jungle ventures - <span class="fw-bold">1</span></li>
<li class="list-group-item">Munich Re Ventures - <span class="fw-bold">1</span></li>
<li class="list-group-item">Ashish Goyal - <span class="fw-bold">1</span></li>
<li class="list-group-item">Swiss RE - <span class="fw-bold">1</span></li>
<li class="list-group-item">Faering Capital - <span class="fw-bold">1</span></li>
<li class="list-group-item">Venture Catalyts - <span class="fw-bold">1</span></li>
<li class="list-group-item">Gaurav Munjal - <span class="fw-bold">1</span></li>
<li class="list-group-item">Titan capital - <span class="fw-bold">5</span></li>
<li class="list-group-item">Sachin Pillai - <span class="fw-bold">1</span></li>
<li class="list-group-item">Apis Partners - <span class="fw-bold">1</span></li>
<li class="list-group-item">Ramakant Sharma - <span class="fw-bold">1</span></li>
<li class="list-group-item">Survam Partners - <span class="fw-bold">1</span></li>
<li class="list-group-item">IIFL Asset Management - <span class="fw-bold">1</span></li>
<li class="list-group-item">Gokul Rajaram - <span class="fw-bold">1</span></li>
<li class="list-group-item">LV Angel Fund - <span class="fw-bold">1</span></li>
<li class="list-group-item">Gemba Capita - <span class="fw-bold">1</span></li>
<li class="list-group-item">Dream Incubator - <span class="fw-bold">1</span></li>
<li class="list-group-item">BlinC invest - <span class="fw-bold">1</span></li>
<li class="list-group-item">First Cheque - <span class="fw-bold">1</span></li>
<li class="list-group-item">ZNL ventures - <span class="fw-bold">1</span></li>
<li class="list-group-item">Apis Partner - <span class="fw-bold">1</span></li>
<li class="list-group-item">General Atlantic - <span class="fw-bold">1</span></li>
<li class="list-group-item">Faering capital - <span class="fw-bold">1</span></li>
</ul>
  </div>
  
   <div class="col">
   <ul class="list-group">
   <li class="list-group-item">Goodwater Capital - <span class="fw-bold">1</span></li>
<li class="list-group-item">Evolvence India Fund - <span class="fw-bold">1</span></li>
<li class="list-group-item">A91 partners - <span class="fw-bold">1</span></li>
<li class="list-group-item">TVS capital f unds - <span class="fw-bold">2</span></li>
<li class="list-group-item">Equanimity Investments - <span class="fw-bold">1</span></li>
<li class="list-group-item">GGV Capital - <span class="fw-bold">1</span></li>
<li class="list-group-item">MAGIC f und - <span class="fw-bold">2</span></li>
<li class="list-group-item">Venture Catalysts - <span class="fw-bold">1</span></li>
<li class="list-group-item">Charan Singh - <span class="fw-bold">1</span></li>
<li class="list-group-item">Lok capital - <span class="fw-bold">1</span></li>
<li class="list-group-item">Multiply ventures - <span class="fw-bold">2</span></li>
<li class="list-group-item">Kunal Shah - <span class="fw-bold">3</span></li>
<li class="list-group-item">Better capital - <span class="fw-bold">2</span></li>
<li class="list-group-item">Surge - <span class="fw-bold">1</span></li>
<li class="list-group-item">Pentathlon ventures - <span class="fw-bold">1</span></li>
<li class="list-group-item">Omidyar Network India - <span class="fw-bold">1</span></li>
<li class="list-group-item">Saujanya Shrivastava - <span class="fw-bold">1</span></li>
<li class="list-group-item">SEA f und - <span class="fw-bold">1</span></li>
<li class="list-group-item">Sumit Maniyar - <span class="fw-bold">1</span></li>
<li class="list-group-item">Y Combinator - <span class="fw-bold">1</span></li>
<li class="list-group-item">Amino capital - <span class="fw-bold">1</span></li>
<li class="list-group-item">Karthik Sridhar - <span class="fw-bold">1</span></li>
<li class="list-group-item">GIC - <span class="fw-bold">1</span></li>
<li class="list-group-item">Acequia Capital (AceCap) - <span class="fw-bold">1</span></li>
<li class="list-group-item">Varanium Capital Advisors - <span class="fw-bold">1</span></li>
<li class="list-group-item">Tiger Global Management - <span class="fw-bold">1</span></li>
<li class="list-group-item">Bharath Inclusion seed fund - <span class="fw-bold">1</span></li>
<li class="list-group-item">9Unicorns Accelerator Fund - <span class="fw-bold">2</span></li>
<li class="list-group-item">Bessemer Venture Partners - <span class="fw-bold">1</span></li>
<li class="list-group-item">Lightspeed Venture Partners - <span class="fw-bold">1</span></li>
<li class="list-group-item">Lightspeed India Partners - <span class="fw-bold">1</span></li>
<li class="list-group-item">Susquehanna International Group (SIG) - <span class="fw-bold">2</span></li>
</ul>
  </div>
</div>

## Investors in 2022

<div class="row row-cols-1 row-cols-lg-2">
  <div class="col">
    <ul class="list-group">
   <li class="list-group-item">Goodwater capital - <span class="fw-bold">1</span></li>
<li class="list-group-item">Ashish Sharma - <span class="fw-bold">1</span></li>
<li class="list-group-item">Zerodha - <span class="fw-bold">1</span></li>
<li class="list-group-item">Generali Group - <span class="fw-bold">1</span></li>
<li class="list-group-item">Blume ventures - <span class="fw-bold">2</span></li>
<li class="list-group-item">Unicorn India Ventures - <span class="fw-bold">1</span></li>
<li class="list-group-item">Y combinator - <span class="fw-bold">1</span></li>
<li class="list-group-item">Ramakant sharma - <span class="fw-bold">1</span></li>
<li class="list-group-item">DLF Family Office - <span class="fw-bold">1</span></li>
<li class="list-group-item">Vitruvian partners - <span class="fw-bold">1</span></li>
<li class="list-group-item">Beyond next ventures - <span class="fw-bold">1</span></li>
<li class="list-group-item">SIG Venture Capital - <span class="fw-bold">1</span></li>
<li class="list-group-item">Jungle ventures - <span class="fw-bold">1</span></li>
<li class="list-group-item">Das capital - <span class="fw-bold">1</span></li>
<li class="list-group-item">Rebright Partners - <span class="fw-bold">1</span></li>
<li class="list-group-item">IIFL Finance - <span class="fw-bold">1</span></li>
<li class="list-group-item">Nexus venture partners - <span class="fw-bold">1</span></li>
<li class="list-group-item">Wellington Management - <span class="fw-bold">1</span></li>
<li class="list-group-item">Pavitar Singh - <span class="fw-bold">1</span></li>
<li class="list-group-item">Amansa Capital - <span class="fw-bold">1</span></li>
<li class="list-group-item">Utsav Somani - <span class="fw-bold">1</span></li>
<li class="list-group-item">Varun Jaipuria - <span class="fw-bold">1</span></li>
<li class="list-group-item">Titan capital - <span class="fw-bold">1</span></li>
<li class="list-group-item">Soma Capital - <span class="fw-bold">1</span></li>
<li class="list-group-item">Magallanes Impacto FIL - <span class="fw-bold">1</span></li>
<li class="list-group-item">Northern Arc - <span class="fw-bold">1</span></li>
</ul>
  </div>
  
   <div class="col">
     <ul class="list-group">
<li class="list-group-item">Capital 2B - <span class="fw-bold">1</span></li>
<li class="list-group-item">Leo Caital India - <span class="fw-bold">1</span></li>
<li class="list-group-item">Nitin Gupta - <span class="fw-bold">1</span></li>
<li class="list-group-item">Kunal Shah - <span class="fw-bold">1</span></li>
<li class="list-group-item">Creaegis - <span class="fw-bold">1</span></li>
<li class="list-group-item">Abhishek Goyal - <span class="fw-bold">1</span></li>
<li class="list-group-item">GAWA capital - <span class="fw-bold">1</span></li>
<li class="list-group-item">Sequoia Capital - <span class="fw-bold">1</span></li>
<li class="list-group-item">Seeders - <span class="fw-bold">1</span></li>
<li class="list-group-item">ACE & company - <span class="fw-bold">1</span></li>
<li class="list-group-item">ICICI venture - <span class="fw-bold">1</span></li>
<li class="list-group-item">Rahul Gautam - <span class="fw-bold">1</span></li>
<li class="list-group-item">Dhruv Dhanraj Behl - <span class="fw-bold">1</span></li>
<li class="list-group-item">Rohan Kumar - <span class="fw-bold">1</span></li>
<li class="list-group-item">SEA fund - <span class="fw-bold">1</span></li>
<li class="list-group-item">Alok Mittal - <span class="fw-bold">1</span></li>
<li class="list-group-item">Marshall Wace - <span class="fw-bold">1</span></li>
<li class="list-group-item">Haus Khas ventures - <span class="fw-bold">1</span></li>
<li class="list-group-item">Chiratae Ventures - <span class="fw-bold">1</span></li>
<li class="list-group-item">Rajiv Dadlani Group - <span class="fw-bold">1</span></li>
<li class="list-group-item">Niraj singh - <span class="fw-bold">1</span></li>
<li class="list-group-item">Bessemer Venture Partners - <span class="fw-bold">1</span></li>
<li class="list-group-item">Relentless Pursuit Partners - <span class="fw-bold">1</span></li>
<li class="list-group-item">Tiger Global Management - <span class="fw-bold">1</span></li>
<li class="list-group-item">Ithan Creek Master Investors - <span class="fw-bold">1</span></li>
<li class="list-group-item">Abu Dhabi investment Authority - <span class="fw-bold">1</span></li>
</ul>
  </div>
</div>

## 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.

Posts tagged with#report

Insurance Sector Funding Report 2021-2022 in India