Industry landscapes
The companies, capital and talent shaping insurtech in the United States. Find the leaders. Understand the segments. See where the activity is.
An industry ecosystem,
measured in context.
24 featured companies from the funding, hiring, revenue and team-size leaderboards.
Locked revenue figures are available in Radar; the eight company financial previews stay the same throughout this page. A dash means the figure is outside these featured lists. Revenue years vary by company; the figures are not a like-for-like revenue comparison. Compare annual accounts ↗
A few useful ratios bring the size of this ecosystem into perspective.
309 of 3,561 tracked companies have open roles.
921 of 3,561 tracked companies have a recorded round.
Share of disclosed capital received by the three largest recorded recipients.
Midpoint of 1,660 rounds with a disclosed amount.
Scale is concentrated. Opportunity is broader. The three largest funding recipients hold 24.8% of disclosed capital, while 74.1% of tracked companies have no recorded funding round.
Explore the segments →Recorded company formation and disclosed funding across the complete annual series shown.
Sum of recorded funding rounds · USD
| Year | Funding (USD) | Founded | Raising |
|---|---|---|---|
| 2016 | $2.5B | 199 | 104 |
| 2017 | $2.18B | 183 | 126 |
| 2018 | $5.72B | 210 | 130 |
| 2019 | $6.92B | 220 | 151 |
| 2020 | $4.91B | 206 | 181 |
| 2021 | $11.86B | 158 | 211 |
| 2022 | $5.91B | 121 | 158 |
| 2023 | $3.25B | 148 | 145 |
| 2024 | $2.58B | 80 | 113 |
| 2025 | $5.86B | 31 | 119 |
Share of all disclosed company funding.
2,009 recorded rounds since 2016
Recorded participation in insurtech company rounds since 2016.
Backed by TCV and Oliver Jung and others.
Backed by Ten Coves Capital.
Backed by Permanent Capital and SignalFire and others.
Backed by .
Backed by Generation Investment Management and Fifth Down Capital and others.
Backed by General Catalyst and Chemistry VC and others.
Backed by .
Backed by .
Backed by BDT & MSD Partners.
Backed by Fidelity Investments and Apollo Global Management and others.
Backed by Blackstone and Partners Group and others.
Backed by Emerson Collective and SoftBank Vision Fund and others.
Backed by Guggenheim Investments and Oak Hill Advisors.
Backed by New Enterprise Associates and Bessemer Venture Partners and others.
Backed by Fidelity Investments and IVP and others.
Backed by SoftBank Vision Fund.
Backed by Tiger Global Management and T. Rowe Price and others.
Backed by Greenoaks.
Annual accounts for reporting companies linked to this landscape, on like-for-like currency and reporting bases.
Display conversions use the dated reference rates above. Where a verified rate is unavailable, figures retain their source currency. Each reporting cohort keeps its currency and accounting basis separate.
FY2025 · annual statements grouped by reported fiscal year; exact entity periods remain on preview rows · 17 reporting entities from 24 eligible matches.
Sum of reporting-entity revenue; not the United States market sales.
Combined result for the same cohort.
Combined net income ÷ combined revenue.
The middle covered reporting entity.
12 of 17 covered entities.
Share of covered revenue from the five largest entities.
Reported cohort totals by year; coverage is stated for every period.
Bar height shows revenue. Changes in coverage can affect totals.
FY2025 · 17 reporting entities
Up to eight fixed company previews show financial amounts. Search and sort the wider company list, then continue in Radar.
| Company / reporting entity | Revenue | Net profit / loss | Net margin | Revenue growth | Total assets |
|---|---|---|---|---|---|
| Anthem ↗1156039 | $199,125.0m | $5,662.0m | +2.8% | — | — |
| Pegasystems ↗1013857 | $1,745.8m | $393.4m | +22.5% | — | — |
| SelectQuote ↗1794783 | $1,526.6m | $47.6m | +3.1% | — | — |
| Guidewire ↗1528396 | $1,202.5m | $69.8m | +5.8% | — | — |
| HealthEquity ↗1428336 | $1,199.8m | $96.7m | +8.1% | — | — |
| Lemonade ↗1691421 | $737.9m | $-165.5m | -22.4% | — | — |
| EverQuote ↗1640428 | $692.5m | $99.3m | +14.3% | — | — |
| Oscar ↗1568651 | $28.6m | $-443.2m | -1549.9% | — | — |
Explore full company accounts and filings.
Choose “View accounts” to inspect an available company preview.
Each pair uses the same year, currency and reporting basis. Cohort overlap is disclosed.
| Industry | Covered / eligible | Revenue total | Median revenue | Net profit / loss | Aggregate margin | Profitable share | Overlap |
|---|
Available-account cohorts are not estimates of whole industries. Overlapping entities can occur in more than one cohort; do not add cohort totals.
Filed annual accounts for exact designated national identifiers. Every aggregate and peer pair uses one fiscal year, source currency and reporting basis; periods, coverage and overlap are explicit; 2026 partials are excluded.
The same up to eight reporting entities remain open across years, filters and sorts. Other company figures are available in Radar.
Source currencies and accounting bases stay separate. Missing accounts are excluded rather than treated as zero. Exact reporting periods appear on company previews. Annual totals can change with coverage and do not measure growth of a fixed company cohort.
How the the United States companies on this page show up online: the sites people visit, the apps they install, and how often those apps ship.
86 of the 3,561 companies on this page carry a measured traffic record (2.4%); these are the largest of those, by monthly visits. The median among them is 350,394 visits.
| Company | Monthly visits | Authority | Mobile |
|---|---|---|---|
| Progressive Insuranceprogressive.com | 46,781,102 | 78 | 82.8% |
| NerdWalletnerdwallet.com | 23,849,272 | 79 | 80% |
| Insurifyinsurify.com | 9,064,578 | 56 | 94.1% |
| Lemonadelemonade.com | 4,504,734 | 65 | 76.5% |
| HealthEquityhealthequity.com | 3,903,235 | 62 | 58.5% |
| HealthSherpahealthsherpa.com | 3,234,891 | 45 | 24.3% |
| Delta Dentaldeltadental.com | 3,195,397 | 61 | 27.5% |
| EverQuoteeverquote.com | 3,167,827 | 45 | 94.4% |
| Otto Insuranceottoinsurance.com | 2,723,126 | 32 | 96.3% |
| SquareTradesquaretrade.com | 2,197,219 | 49 | 85% |
Visits and authority are third-party web estimates, not company-reported figures.
252 of these companies (7.1%) publish at least one Android app — 1,356 apps in all, carrying 60.1M installs between them.
| App | Installs | Rating | Store category |
|---|---|---|---|
| ProgressiveProgressive Insurance | 25.5M | 4.6 | Finance |
| Root: Better car insuranceRoot | 4.5M | 3.1 | Finance |
| Liberty Mutual MobileLiberty Mutual | 3.4M | 4.6 | Finance |
| NerdWallet: Smart Money AppNerdWallet | 2.3M | 4.3 | Finance |
| Lemonade InsuranceLemonade | 2.1M | 3.9 | Finance |
| HealthEquity MobileHealthEquity | 1.9M | 1.8 | Finance |
| VymoGet Vymo | 1.6M | 4 | Business |
| Pier: Mobile & Auto insurancePier | 1.6M | 4.8 | Finance |
| Stride: Mileage & Tax TrackerStride Health | 1.3M | 3.1 | Finance |
| Delta Dental Mobile AppDelta Dental | 1.3M | 2.3 | Medical |
Installs are lifetime totals to date at the June 2026 store reading — a measure of reach, not of people using an app today.
The busiest app inside each of this page’s own segments, with the quarterly release trend behind it (2024Q1–2026Q2).
| Segment | Apps | Installs | Leading app | Release trend |
|---|---|---|---|---|
| Internet First Insurance Platforms | 154 | 50.7M | Progressive 25.5M | |
| Insurance Carriers | 3 | 25.6M | Pet Assure 52.2K | |
| Auto E-Commerce & Content | 30 | 10.9M | Root: Better car insurance 4.5M | |
| Auto Retail & Aftersales | 20 | 10.5M | Liberty Mutual Mobile 3.4M | |
| Connected Vehicles | 23 | 9.2M | BoatUS - Boat Weather & Tides 424.2K | |
| Insurance It | 1,166 | 7.5M | Vymo 1.6M | |
| Employee Health It | 78 | 7.3M | HealthEquity Mobile 1.9M | |
| Hrtech | 77 | 7.3M | EZ Receipts Mobile 1.2M |
A company can carry several segment tags, so these rows overlap and should not be added together. Trend lines are zero-based and share one quarter grid, so a flat line is a quiet segment, not a missing one.
New apps published, beside apps whose most recent update landed in that quarter — the second bar is how much of the shelf is still being maintained.
Darker bars are new releases, lighter bars apps updated. 1,342 of 1,356 apps carry a release date. The series ends at 2026Q1, the last quarter that closed before the June 2026 reading.
Explore the segments behind the headline numbers.
Rank segments by scale, hiring or disclosed funding.
Companies can sit in several segments. Counts and funding overlap.
The largest measured segment in this report snapshot.
292 companies hiring · $58.37B disclosed funding
Explore in RadarCommon revenue models; a company can use more than one.
Recorded corporate activity linked to companies in this landscape.
Roadzen Inc. (Nasdaq: RDZN ) (‘Roadzen’ or the ‘Company’), a global leader in AI at the convergence of insurance and mobility, today announced that it has entered into a securities purchase agreement with institutional investors for the purchase and sale of 4,705,870 ordinary shares at an offering price of $1.70 per share, in a registered direct offering (the ‘Offering’).
Willis Towers Watson (WTW) has detailed its artificial intelligence strategy following its acquisition of Newfront
Socotra was founded by Dan Woods and has raised nearly $1 million across seven funding rounds, with backers including Insight partners, Andreessen Horowitz, Nationwide Ventures and 8VC.
Keystone Agency Partners has acquired Titan Risk Solutions in a move aimed at expanding its trucking insurance business and building a dedicated transportation-focused division.
Allianz has invested more in Boston-based homeowners insurance platform Openly and expanded a reinsurance partnership.
Descartes Systems Group has acquired Idelic, a developer of fleet safety management software, for $28 million.
Pillar, a platform that helps commodity-driven businesses (like those in metals, food, and airline companies) manage financial risk, announced Tuesday a $20 million seed round led by Andreessen Horowitz. Others in the seed round include Crucible Capital, Gallery Ventures, and Uber CEO Dara Khosrowshahi.
Chapter Raises $100M Series E Round Back to Home NEW YORK, NY, Chapter, the leading AI company focused on retirement, announced today that it has raised $100 million in Series E funding.
Yuzu Health, a next-generation third‑party administrator focused on modernizing the infrastructure behind health insurance plans, announced it has raised $35 million in Series A funding, bringing its total capital raised to $40 million.
Smith, Gambrell & Russell, LLP ("SGR") is pleased to announce that the Firm recently advised Slope Software (Slope) on its sale to Akur8, a global actuarial artificial intelligence platform.
Top 10 categories among 2,017 recorded events in the 24-month window.
11 companies with recorded IPO activity
OFS · NYSE1 reports
IPO activity1 reports
IPO · NYSE1 reports
IPO · NYSE2 reports
IPO activity1 reports
IPO · NYSE1 reports
IPO · NASDAQ7 reports
SPAC · NASDAQ1 reports
150 tracked people moves
Appointment Group President
Promotion Vice President, Underwriting Strategy & Transformation
Promotion Interim Region III Regional Operating Officer
Promotion Chief Underwriting Officer
Appointment senior vice president, data strategy
Appointment Financial and Legal Director
Appointment Vice President, Customer Experience
Appointment President of Insurance Solutions
Products, platforms and features in the recorded window
Feature
Digital platform for professional liability insurance
Insurance agency software platform
Underwriting platform
Platform
Feature Badges in sourcing portal
Claims Intake
Contract Intelligence Platform
68 recorded customer wins
Customer: gramercy risk managementInsurance
Customer: fortegraProperty and casualty insurance
Customer: all lines insurance associatesInsurance
Customer: Safepoint MGAInsurance
Customer: New Zealand\'s Medical Assurance Society (MAS)Insurance
Customer: XitusInsurance
8 companies with reported reductions
1 roles
400 rolesAI integration
65 rolesfacility closure
115 rolescost reduction
200 rolescost reduction
10 rolesunpaid salaries
8 recorded events
Approved for usage on ChatGPTOpenAI
approved reorganizationMassachusetts Division of Insurance
subject to customary regulatory approvals
pending approval
18 tracked suits
claims enforcementCivil · Ongoing
reimbursement for merger litigation costsRegulatory · Filed
Reported company results in the recorded window.
Median across 290 reported growth observations; companies may contribute multiple periods.
Company-linked deal reports; status is preserved as recorded.
| Acquirer → target | Status | Date | Value / context |
|---|---|---|---|
| willis towers watson→Newfront ↗ | Completed | 2026-05-04 | Not stated in snapshot |
| Keystone Agency Partners→Titan Risk Solutions | Announced | 2026-04-29 | Not stated in snapshot |
| descartes systems group→Idelic ↗ | Announced | 2026-04-24 | $28.0M |
| beazley→kWh Analyt ↗ | Announced | 2026-04-13 | Not stated in snapshot |
| akur8→Slope Software ↗ | Announced | 2026-04-10 | Not stated in snapshot |
| Acrisure→vave | Completed | 2026-04-06 | Not stated in snapshot |
A discussion or rumour is not a completed transaction. An unstated value is not zero.
16,339 postings in the preceding 12 months. The full 26,423-posting snapshot covers 498 employers.
1,498 tracked postings mention remote work.
8,074 postings specify a level.
Top skills across 26,423 tracked postings in the available jobs snapshot.
Median across 2,168 postings with pay data, expressed in USD.
Advertised posting medians do not describe all employees or roles.
| Company | Open roles |
|---|---|
| Elevance Health ↗ | 12 |
| Pegasystems ↗ | 12 |
| Community Health Network ↗ | 11 |
| Capital Health Plan ↗ | 11 |
| ReSource Pro ↗ | 11 |
| Orion180 ↗ | 11 |
| Justworks ↗ | 10 |
| Slide Insurance ↗ | 10 |
| Company | Employees |
|---|---|
| Progressive Insurance ↗ | 61,400 |
| Justworks ↗ | 55,459 |
| Social Security Administration ↗ | 48,922 |
| Community Health Network ↗ | 13,897 |
| Verisk ↗ | 9,265 |
| Pegasystems ↗ | 5,406 |
| kanbay ↗ | 5,242 |
| fidelis care ↗ | 5,000 |
1,820 founders and chief executives across 1,401 companies.
Acrisure, ex-Allstate Insurance, ex-Millercoors, MICHIGAN STATE UNIVERSITY, 1981
Devoted Health, ex-The White House, ex-White House Office Of Science And Technology Policy, Harvard University, 1994
United Healthcare, Dartmouth College.
Oscar Health, ex-Bridgewater Associates, ex-Aetna, Cornell University
University of St Thomas BA 1994
Team8, ex-Next Insurance, ex-Check Inc Acquired By Intuit On June 2014 For 360m, Academic College of Engineering, Tel-Aviv
Kin Insurance, ex-Accion Usa, ex-2checkout, The University of Chicago Booth School of Business, 2009
Ex-Co-Founder CarePoint, Ensemble Health Partners. Emory University 2000
CoFounder Luke Vincent Powers Foundation, ex-Swoop, CSO Access 360 Media, Westwood One. Boston University 1991
Ex-Coastal Risk Underwriters, Travelers.
Founder Lookout, ex-Founder DailyWireless. University of Southern California
Fiverr, ex- Mobideo Aerospace, Handsmart Software, Trimus.
360 profiles with education records.
72 profiles with prior-work records.
Profiles cover recorded founders and leaders; contact details remain in Radar.
308,069 articles in the measured 12-month window.
Insurtech coverage across United States · articles per complete quarter
| Quarter | Articles |
|---|---|
| 2021Q2 | 47,143 |
| 2021Q3 | 55,187 |
| 2021Q4 | 46,122 |
| 2022Q1 | 52,029 |
| 2022Q2 | 49,641 |
| 2022Q3 | 52,920 |
| 2022Q4 | 56,115 |
| 2023Q1 | 63,980 |
| 2023Q2 | 73,603 |
| 2023Q3 | 67,564 |
| 2023Q4 | 64,423 |
| 2024Q1 | 73,336 |
| 2024Q2 | 70,347 |
| 2024Q3 | 75,529 |
| 2024Q4 | 72,600 |
| 2025Q1 | 105,555 |
| 2025Q2 | 69,463 |
| 2025Q3 | 87,165 |
| 2025Q4 | 61,491 |
| 2026Q1 | 80,029 |
Article volume measures coverage, not market sales.
2,911 recorded company events across 293 companies; percentages use that event total.
Insurtech coverage across United States · ranked by full-period article count.
Recent and prior counts use the source comparison windows.
Insurtech coverage across United States
| Keyword | Recent | Prior | Change |
|---|---|---|---|
| artemis program | 2,328 | 192 | 1112% |
| drone warfare | 1,555 | 941 | 65% |
| cloud infrastructure | 1,536 | 867 | 77% |
| aerial bombardments | 1,535 | 770 | 99% |
| stock performance | 1,157 | 668 | 73% |
| national security strategy | 1,001 | 697 | 44% |
| export sanctions | 897 | 258 | 248% |
| tanker routing | 836 | 72 | 1061% |
| smart tv | 776 | 542 | 43% |
| aframax tankers | 757 | 78 | 871% |
| drone defense | 542 | 905 | -40% |
| faa drone rules | 367 | 826 | -56% |
| drone airspace rules | 358 | 809 | -56% |
| fighter jets | 481 | 771 | -38% |
| anti-drone system | 442 | 690 | -36% |
Insurtech coverage across United States
ai regulation compliance, responsible ai, ai research
57.9% critical · 37.2% positiveweapons system funding, defense appropriations, military spending bills
48.3% critical · 50.7% positiveai hardware, dc fast-charging deployment, ai research
45.7% critical · 51.9% positiveInsurtech coverage across United States. Topic labels describe recorded classifications and can include broad context.
Company counts, hiring and disclosed funding across the recorded hubs.
32.2% across the displayed hubs
30 companies hiring · $6.7B disclosed funding
Explore companies in New York City ↗21.9% across the displayed hubs
24 companies hiring · $7.1B disclosed funding
Explore companies in San Francisco ↗
9.2% across the displayed hubs
6 companies hiring · $2.0B disclosed funding
Explore companies in Chicago ↗
8.7% across the displayed hubs
6 companies hiring · $1.0B disclosed funding
Explore companies in Austin ↗
8.2% across the displayed hubs
11 companies hiring · $2.0B disclosed funding
Explore companies in Boston ↗7.6% across the displayed hubs
4 companies hiring · $248.4M disclosed funding
Explore companies in Los Angeles ↗
6.4% across the displayed hubs
6 companies hiring · $332.9M disclosed funding
Explore companies in Dallas ↗
5.9% across the displayed hubs
4 companies hiring · $319.5M disclosed funding
Explore companies in Miami ↗Clear definitions for making better comparisons.
It measures the tracked company ecosystem, recorded funding, hiring and other available evidence. It is not a market-size estimate.
No. A company can belong to several segments, so segment counts and funding can overlap.
A dash or unavailable panel means the current reviewed source snapshot does not support that figure.
Company ecosystem snapshot: 6 August 2026. Funding is recorded in USD; filed accounts retain their stated currency and reporting basis. Each section identifies its own coverage. The news and research behind these sections is explorable in Prism.
Canonical landscape ↗