In the Q2 2024 Insurtech Report, we delve into the latest trends and significant developments in the insurtech sector. This quarter saw a notable surge in venture capital (VC) activity, with $1.2 billion invested across 106 deals—a substantial increase from the previous quarter. Highlighting the quarter’s key events, Sidecar Health's $165 million Series D round stands out as the largest VC deal of 2024 so far. Additionally, the acquisition of Eden Health by Centivo and the purchase of Doma by Title Resources Group mark significant shifts in the market.
The report also covers emerging trends, such as NEXT Insurance’s AI-powered solutions and State Farm’s expansion of its Ting fire safety program. Despite a decline in year-over-year deal value and a challenging environment for some startups, the insurtech sector continues to show resilience and innovation. The summary includes insights into deal sizes, valuation trends, and notable pre-seed and late-stage investments.
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