Join a fast-growing and flourishing insurtech sector where technological revolution upends the obsolete legal systems. Unlock abundant growth opportunities and learn how to tackle the possible obstacles within a competitive domain.

Paving the path to the insurance future today

Based on three pillars of modern tech—AI, blockchain, and data analytics—the insurtech industry is skyrocketing, with the market size projected to hit $105B by 2030. Personalized insurance products, P2P insurance models, UBI, and on-demand insurance are merely a glimpse into the insurtech industry’s vast opportunities. Plus, this sector is flooded with insurance venture capital innovators searching for new ways to propel business growth. Yes, it sounds like insurtech is a lucrative place for startups. But…

Standing out is not a walk in the park

First, insurtech is bound by tight regulatory controls. It means you must know how to navigate multiple national and international standards to avoid penalties and legal issues.

Second, trust between the insurer and a client is a central tenet of a startup’s success, and it can’t be built overnight, especially in terms of the digital environment. That’s why new founders must utilize a robust go-to-market blueprint to promote their services effectively. Thus…

A great idea is only the first step

Having helped 100+ startups to design and execute growth projects—from insurtech fundraising to M&A scouting and crafting new market strategies—at Waveup, we know which step to take next. Let’s immerse ourselves in our insurtech market analysis to check the industry growth potential and insurtech financing opportunities.

Insurtech investments have surged by 300% in the last five years, reflecting investors’ increasing interest and confidence.


Over 60 million consumers have already adopted tech-driven insurance solutions, showcasing the appetite for personalized, convenient, and digitally-enabled insurance experiences.


More than 200 established insurance companies have formed collaborations with insurtech startups, recognizing the value of technology in enhancing their services and offerings.


The adoption of AI in insurance underwriting is projected to grow nearly fivefold by 2025, transforming risk assessment and policy pricing.

1 million+

The number of connected insurance policies enabled by IoT devices could surpass 1 million within the next two years, fostering personalized coverage and data-driven insights.


The Insurtech venture capital market size in 2022 was $2.4B

Here are some of the key verticals of insurtech:

  • Property and casualty (P&C) insurance
  • Life & Health insurance
  • Cybersecurity insurance
  • Agriculture insurance

Leading insurtech venture capital firms

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The challenges insurtech startups face

Navigating regulatory minefield

Insurtech is a heavily regulated industry requiring startups to obtain all necessary legal licenses. Complying with various regional and international regulations is like walking through a minefield—any wrong step can lead to fines, legal actions, or changes in the ongoing business model. Even the current top players, such as Lemonade, once faced these challenges. Still, thanks to their robust insurtech market entry strategy and extended market research, they’ve cemented their position in the market.

Dancing on the thin ice of trust

The insurance industry is built on trust, as clients must be 100% sure that their insurer will stand by them if something unexpected happens. Relying heavily on digital platforms and lacking a comprehensive long-standing history, startups must find ways to humanize their services as it once was done at Oscar Health. Their user-friendly platforms, effective market-entry plans, and clear communication made their users feel they had a partner in their health journey.

A clash with bureaucracy

Many insurtech startups either partner with or get acquired by established insurance companies. Sometimes, it feels like mixing oil and water as legacy systems can be outdated, rigid, and not designed to communicate smoothly with newer technologies, making integration time-consuming, technically challenging, and expensive. Thus, startups must also focus on attracting more funds to cover all the financial issues of merging the two worlds.

How we can help

Fundraising advisory

From diligent industry analysis to storytelling and financial forecasts, we’re helping founders crystallize and structure key business fundamentals and translate them into a compelling investment opportunity framed in a winning pitch deck.

Due diligence and portfolio support

Evaluating potential investments, conducting due diligence, and supporting portfolio companies on their new fundraising rounds.

Established companies
Growth hacking

Discovering market opportunities in the market and developing execution strategies to build actionable and scalable blueprints for growth.


Unlocking your next stage of growth

Waveup is a leading global advisory empowering companies to fuel growth, attract investments, and secure strategic partnerships.

We turn data into business insights that drive results, helping companies excel in the competitive B2C and B2B spaces across 50+ verticals, discovering and catalizing opportunities for growth.

Our investment consulting services for Insurtech startups

Market intelligence

Fundraising support

Pitch decks

Financial models

Investor research

Growth consulting

Go-to-market strategies

Marketing/sales materials

Design support

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What makes the industry appealing for insurtech financing opportunities?

A combination of tradition and innovation, along with a high growth potential (the market value is expected to jump from $5B to $105B in 2030) and a strong demand for insurtech financing, makes the industry appealing to insurance investors.

What is the current size of the insurtech market, and its potential for future insurtech startups?

The insurtech market size constituted $5.45B+ in 2022 and is forecasted to grow by 52% annually. The rising healthcare service prices, the increasing demand for personalized solutions, and the aging population make the sector attractive for startups and insurance investors.

How challenging is it to secure funding for insurtech startups nowadays?

It can be quite challenging to secure funds in the insurtech industry. Still, the sector has attracted significant investor interest (more than $12B in 2022) due to its potential for innovation and expansion. Plus, a clear value proposition, a viable business model, and an ability to navigate the legal landscape will increase insurtech startups’ chances to win investor confidence.

How long does it take to create an insurtech pitch deck and a financial model for an insurtech startup?

Crafting an insurtech pitch deck usually takes from two to three weeks. We may extend the execution of the project up to a month in some cases. Thus, it’s more convenient to negotiate the time individually.

What are the key mistakes insurtech startups make in their pitch decks?

Failure to present a clear-cut market-entry plan, provide investor-attractive narration, and fill the slides with relevant yet too technical information are the most common mistakes amid insurtech startup pitch decks. Plus, the lack of information about the possible competitors undermines investors’ confidence in newcomers’ knowledge of the marketplace and ability to outrun the rivals.

What are the main challenges insurtech startups face, and how are they tackling them?

Insurtech startups usually face such challenges as regulatory hurdles, problems with integration within the existing legal system, fierce competition (almost 5K startups), and trust issues. However, an auctionable insurtech market entry strategy and strong relationships with regulators and top players help newcomers navigate the insurtech industry smoothly.

How competitive is the insurtech market?

Flooded by hundreds of startups annually (almost 5K nowadays) and occupied by numerous established companies, such as Allianz, AXA, and Zurich Insurance, the insurtech market is highly competitive. But with the proper market positioning and clear presentation of your innovation, you’ll be able to stand out.

What services do you provide for investors who are either considering or have already invested in insurtech startups?

One of the services included in our investor relations pack is ensuring thorough due diligence of the potential insurtech projects. Plus, we offer end-to-end fundraising assistance to the portfolio companies of our partner funds.

Do you provide insurtech M&A support?

We do! Our expertise is rooted in pinpointing insurtech M&A prospects, creating comprehensive CIMs, and conducting models for both acquisition and disposition deals.

Do you make intros to insurtech VCs?

If such factors as round size, team, and product match up, we’ll surely link you with the notable insurtech VCs. Still, remember this is just one facet of our extensive relations offerings. We compile a directory of investors with a strong interest in insurtech, get founders ready for the intro meetings, and ensure seamless cooperation post-deal.

Do you provide comprehensive insurtech market research on request?

Certainly! To guide you to success in the insurtech sector, our experts deliver tailored insights based on industry overviews, competitor evaluations, and in-depth market surveys. By tapping into our trusted, exclusive databases, we ensure you gain a comprehensive perspective on the scale, variety, and competitive dynamics of the insurtech environment.

Which insurtech startup funding stages do you assist with?

In the insurtech domain, our proficiency stretches from the Seed phase to the Series B development stages. Yet, our specialty doesn’t confine our scope. We also offer our services to companies in the pre-seed phase and those advancing to Series C and beyond while also partnering with established enterprises and investment entities.

Building a solution in the insurtech industry? Get in touch with us

Fuel your next stage of insurtech growth with Waveup—your one-stop shop for fundraising support, outsourced M&A advisory, growth strategy consulting, and presentation design. Leave your email, and let's chat!

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