FT Partners-2022年第3季度保险技术洞察（英）-57正式版

FTPartnersResearch|October2022Q32022QUARTERLYINSURTECHINSIGHTSQ32022INSURTECHINSIGHTSOverviewofFTPartners48,500+FinTechCompanies18,500+PE/VCFirms•DataInsights24,000+Financings•FinTechDealStatistics•InvestmentTrends15,500+M&ADeals•IndustryResearchPublicComparablesQ32022INSURTECHINSIGHTSFTPartners’DataQ32022INSURTECHINSIGHTSTableofContentsFTPartnersResearch|October2022Q32022HighlightsQ32022INSURTECHINSIGHTSExecutiveSummaryQ32022InsurTechStatisticsFINANCINGM&AApproximately$2billionNoannouncedvaluationsinfinancingvolume&across26transactions85transactionsQ32022INSURTECHINSIGHTSExecutiveSummaryooooooooooFTPartnersResearch|October2022InsurTechFinancingsQ32022INSURTECHINSIGHTSInsurTechFinancingActivity:AnnuallyQ32022INSURTECHINSIGHTSInsurTechFinancingActivity:QuarterlyQ32022INSURTECHINSIGHTSInsurTechFinancingActivity:MonthlyQ32022INSURTECHINSIGHTSAverageSizeofInsurTechFundingRoundsAcrossStagesAverageFinancingRoundSize($inmm)–ExcludingRoundsOver$700millionShowsthelargestAllStages*SeedSeriesAroundbystageinspecifiedyear$42million$33million$180millionSeriesB* SeriesC SeriesD$400million$200million$120million*$650million$635millionQ32022INSURTECHINSIGHTSSelectedLargeInsurTechFinancingsInsurTechFinancingsOver$50million11/22/20134/6/2015 8/18/2016 12/31/2017 5/15/2019 9/26/20202/8/2022Q32022INSURTECHINSIGHTSSelectedInsurTechFinancingsinQ32022AnnounceDateCompanyInvestor(s)AmountCountry($inmm)Q32022INSURTECHINSIGHTSSelectedInsurTechFinancingsinQ32022(cont.)AnnounceDateCompanyInvestor(s)AmountCountry($inmm)Q32022INSURTECHINSIGHTSFinancingActivitybyRegionNORTHAMERICAEUROPEASIARESTOFWORLDPercentageofTotalDealCountPercentageofTotalDealCountPercentageofTotalDealCountPercentageofTotalDealCountPercentageofTotalVolumePercentageofTotalVolumePercentageofTotalVolumePercentageofTotalVolumeLargestDealinRegionLargestDealinRegionLargestDealinRegionLargestDealinRegionQ32022INSURTECHINSIGHTSAllocationofInsurTechInvestments–P&C,Life,Health,DiversifiedAnnualBreakdownofInsurTechFinancingVolumeP&CLifeHealthDiversifiedQ32022INSURTECHINSIGHTSSelectedInsurTechInvestmentsinQ32022–P&C,Life,Health,DiversifiedSelectedP&CFinancings

SelectedDiversifiedFinancingsSelectedHealthFinancingsSelectedLifeFinancingsQ32022INSURTECHINSIGHTSAllocationofInsurTechInvestments–Insurancevs.TechAnnualBreakdownofInsurancevs.TechFinancingVolume$inmillionsInsuranceTechQ32022INSURTECHINSIGHTSSelectedInsurTechInvestmentsinQ32022–Insurancevs.TechSelectedInsuranceFinancings SelectedTechnologyFinancingsQ32022INSURTECHINSIGHTSCumulativeFinancingofPrivateInsurTechCompaniesFTPartnersResearch|October2022InsurTechInvestorsQ32022INSURTECHINSIGHTSMostActiveInsurTechInvestorsLandscapeAccelerators/SeedVentureCapital/PrivateEquityVenturesStrategic/CorporateInvestorsAlternativeInvestorsQ32022INSURTECHINSIGHTSMostActiveInsurTechInvestors–TraditionalVentureCapital(Selected)28 19 15 15#CurrentInsurTechInvestments12 12 11 11 1111 9 8 7Q32022INSURTECHINSIGHTSStrategic/CorporateInvestorInvolvementinInsurTechFinancingPercentofFinancingswithStrategicParticipationSelectedFinancingswithStrategicParticipationin2022YTDQ32022INSURTECHINSIGHTSMostActiveInsurTechInvestors–Strategic/CorporateInvestors(Selected)32 20 17#CurrentInsurTechInvestments1613Ventures96 312 10 8FTPartnersResearch|October2022InsurTechIPOsQ32022INSURTECHINSIGHTSU.S.InsurTechIPOTrackerFilingDateIPODateCompanyAmountIPOCurrentCurrentTotalResearchRaisedPricePriceMarketCapReturnProfileVIEWVIEWVIEWVIEWVIEWVIEWVIEWVIEWVIEWVIEWVIEWJul-20Aug-20Sep-20Oct-20Nov-20Dec-20Jan-21Feb-21Mar-21Apr-21May-21Jun-21Jul-21Aug-21Sep-21Oct-21Nov-21Dec-21Jan-22Feb-22Mar-22Apr-22May-22Jun-22Jul-22Aug-22Sep-22

100%-50%-0%50%100%150%PublicInsurTechSelectedINSURTECH2022Q3ActivityMarketINSIGHTSFTPartnersResearch|October2022InsurTechM&AQ32022INSURTECHINSIGHTSInsurTechM&AActivitySPACmergersaccountedformorethanhalfoftheM&Adollarvolumein2021$inmillionsQ32022INSURTECHINSIGHTSSelectedM&ATransactionsinQ32022AnnounceDateTargetCompanyAcquirer(s)AmountTargetDescriptionTargetCountry($inmm)SmartCargoInsurancebusinessofHigh-Net-Worth(HNW)PersonalLinesQ32022INSURTECHINSIGHTSRecentInsurTechSPACMergersAnnouncedInsurTechSPACTransactions:SunCarInsurance• ••••DealAnnouncedFeb.24,2022DealAnnouncedTradingBegan May23,2022Sept.16,2022

CancelledInsurTechSPACTransaction:•••FTPartnersResearch|October2022OverviewofFTPartnersFTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECHFTPartnersResearch–SelectedRecentTransactionProfilesPublishedFTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECHFTPartnersResearch–InsurTechCEOInterviewsDavidFontainDanBryanShannonGogginTyrreBurksDerbyshireAbrahamsenPeterGrantVIEWVIEWVIEWVIEWVIEWJayGraysonRobSchimekArtAgrawalRotemIramChuckWallaceVIEWVIEWVIEWVIEWVIEWJayBregmanJeffRadkeJohnSwigartPhilRajPofaleEdmundsonVIEWVIEWVIEWVIEWVIEWFTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECHFTPartnersResearch–Q32022FinTechInsightsQ32022FinTechInsights:Highlightsofthereportinclude:GlobalFinancingandM&AStatistics••••••ClickpicturestoviewreportFTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECHFTPartnersResearch–HealthcarePayments••••Clickpicturestoviewreport ••FTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECHFTPartners’TrackRecordofSuccessinInsurTechInsuranceLendersProtectionConsumerDigitalCommercialSmallBusinessDigitalAutoModernInsuranceDistribution/DefaultInsuranceProtectionPlansRiskExchangeInsuranceInsurerBrokerageInsuranceDigitalInsuranceFraud,Risk&SmallBusinessLargestCommercialLifeInsuranceComplianceforP&CTelematicsComparisonSiteSolutionsInsuranceInsuranceExchangeInsurersFTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECHFTPartnersAdvisesNewfrontonits$200millionFinancingOverviewofTransaction•••‒SignificanceofTransaction•••FTPartners’Role••FTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECHFTPartnersAdvisesAccelerantonits$193millionFinancingOverviewofTransaction•••™•SignificanceofTransaction••™FTPartners’Role••FTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECHFTPartnersAdvisesSureonits$100millionSeriesCFinancingOverviewofTransaction•••SignificanceofTransaction••FTPartners’Role••FTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECHFTPartnersAdvisesLadderonits$100millionSeriesDFinancingOverviewofTransaction•••−−SignificanceofTransaction••FTPartners’Role••FTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECHFTPartnersAdvisesFRISSonits$65millionSeriesBFinancingOverviewofTransaction•••−−SignificanceofTransaction••FTPartners’Role••FTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECHFTPartnersAdvisesClearcoveronits$200millionSeriesDFinancingTransactionOverview•••SignificanceofTransaction••FTPartners’Role••FTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECHFTPartnersAdvisesTheZebraonits$150millionSeriesDFinancingTransactionOverview•••••SignificanceofTransaction•FTPartners’Role••FTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECHFTPartnersAdvisesSnapsheetonits$30millionSeriesE2FinancingTransactionOverview•••SignificanceofTransaction•••FTPartners’Role•••FTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECHFTPartnersAdvisesCoverWalletonitsSaletoAonTransactionOverview•••••SignificanceofTransaction•••FTPartners’Role••FTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECHFTPartnersAdvisesAssuranceonitsSaletoPrudentialfor$3.5billionTransactionOverview••••SignificanceofTransaction••••FTPartners’Role••FTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECHFTPartnersAdvisesVaaSonits$445millionSaleOverviewofTransaction••••SignificanceofTransaction••FTPartners’Role••FTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECHFTPartnersAdvisesLennaronitssaleofNATCandNATICTransactionOverview•••••SignificanceofTransaction••FTPartners’Role•••FTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECHFTPartnersAdvisesLennaronits$70millionMinorityInvestmentinHippoTransactionOverview••••SignificanceofTransaction••FTPartners’Role••FTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECHFTPartnersAdvisesSquareTradeonitsSaletoAllstatefor$1.4billionTransactionOverview••‒••SignificanceofTransaction••FTPartners’Role••••FTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECHOverviewofFTPartners–20+YearsinBusinessFTPartnersThelargestandmostseasonedteamintheworldexclusivelydedicatedtoservingandadvisingtheFinTechsectorVeteranseniorbankersfromGoldmanSachs,MorganStanley,JPMorgan,andothertopWallStreetfirmsjoiningthebestplatformtoprovidevaluedclientswithunbiasedadviceanddifferentiatedtransactionexecution~440yearsofFinTechadvisoryexperienceacrossourManagingDirectorsexecutinghundredsofcomplextransactions

280280EmployeesGlobally436EmployeesTotalExperienceofManagingDirectors(Years)212London330170officeopens155239113212NewYork185officeopens83SanFrancisco4658621223538104officeopens31182127718112461314515341112303213142001200220032004200520062007200820092010201120122013201420152016201720182019202020212022FTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECHAward-WinningInvestmentBankFocusedonClientResults“WehiredFTPartnersbackin2009,andourBoardfeelsthathiringFTPartnerswasoneofthemoststrategicdecisionswecouldhavemadealongthisjourney.Theyhavebeentremendouspartnersforus,andwearedelightedwiththemoneverylevel.”

“TheteamatFTPartnersplayedanintegralroleinadvisingusonsignificantroundsoffinancingwhichhavepositionedusforournextphaseofgrowthandinnovation.Theirexpertguidanceandtechnicalsupportduringtheprocesswasinvaluable.”

“WhereveraboardoramanagementteamhassteeredawayfromhiringFTPartnersitalwaysseemstoendupintears.Here’stoyouandeverythingyoudo.”MichaelPraeger,CEO,AvidXchangeGuyGoldstein,CEONigelMorris,ManagingPartnerConsistentRecognitionThroughtheYearsBloombergM&AAdvisorAwardsSiliconValley’sMostLendItFinTechIndustryTheFinTechFinance40TheM&AAtlasAwardsFTPartners’SteveMcLaughlinOver10awardsincludingTechPopularDealmakersAwardsSteveMcLaughlinranked#1in2020LargeSPACDealofwasfeaturedonBloombergDealoftheYear(2019)andRanked#2TechInvestmentTopInvestmentBankin2017and2018theYearViewthefullarticleandwatchInvestmentBankingFirmoftheBankerin2016FinTechin20182020CorporateM&AYear(2016)theliveTVinterviewDealoftheYearFTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECHFTPartnersResearchPROPRIETARYFINTECHRESEARCHFTPartnersregularlypublishesdetailedresearchhighlightingkeytrendsdrivingmarketactivityacrossallsectorsofFinTech.OurresearchandanalysishasbeenfeaturedonBloomberg,TheWallStreetJournal,DowJonesandtheFinancialTimesandisregularlyviewedbyCEOsandindustryleaders.FTPartners'uniqueinsightintoFinTechisadirectresultofsuccessfullyexecutinghundredsoftransactionscombinedwithover20yearsofexclusivefocusontheFinTechsector.EachreportpublishedbyFTPartnerscontainsanin-depthreviewofauniqueareaoftheFinTechmarketplaceandishighlyvaluableandtopicaltoCEOs,boardmembers,investorsandkeystakeholdersacrosstheFinTechlandscape.IndustryDeepMonthlyMarketTransactionVideoExecutiveReal-TimeQuarterlyIn-DepthRegionalReports&AnnualCompanyDiveReportsUpdatesCaseStudiesConferencesInterviewsInfographicsInsightsProfilesWWW.FTPARTNERS.COMFTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECHFTPartners’DisclaimerDisclaimer:ThesematerialsmaynotberelieduponbyanypersonorentityforanypurposeexceptasexpresslypermittedbyFinancialTechnologyPartnersLPanditssubsidiaries(includingbutnotlimitedtoFTPSecuritiesLLCandFinTechPartnersLtd,collectively“FTPartners”)inawrittenagreementwithFTPartners.Thesematerialsarebasedoninformationprovidedbyoronbehalfofathirdpartyorfrompublicsources.FTPartnershasreliedonsuchinformationbeingcompleteandaccurateinallmaterialaspectsandassumesnoresponsibilityforindependentinvestigationorverification.Weassumeanyestimatesorforecastsre