InsurTech Internet-First Insurance Providers sector
Strategic acquirers, private equity (buyout funds and growth funds) firms, and valuation benchmarks for InsurTech Internet-First Insurance Providers
1.1 - About InsurTech Internet-First Insurance Providers sector
Companies in the InsurTech Internet-First Insurance Providers category are digital-native carriers and MGAs that underwrite, distribute, and service policies online. They pair data-driven pricing with embedded risk‑mitigation tools—telematics, IoT sensors, and cybersecurity—to deliver faster quote‑to‑bind, personalized coverage, and streamlined claims. Their models span direct‑to‑consumer and B2B2C embedded channels with nationwide and multi‑market reach.
Typical capabilities include online quote, bind, and issue; AI underwriting using external data, property graphs, and behavioral signals; telematics-driven usage-based auto pricing with smartphone sensing; smart home sensor programs that detect leaks and fires and trigger preventative services; active cyber insurance coupled with threat monitoring, attack surface management, and vendor risk scoring; deposit‑replacement products for rentals; crash detection and assistance; and self‑service claims automation and customer portals.
They serve consumer policyholders such as homeowners and renters, small and mid‑market businesses seeking cyber or property coverage, and property managers and landlords. Outcomes include faster policy acquisition and claims resolution, lower loss ratios through proactive risk prevention, improved cash flow via security‑deposit alternatives, and reduced breach exposure and downtime from integrated cybersecurity. Customers also gain more transparent pricing and continuous risk monitoring across assets.
2. Buyers in the InsurTech Internet-First Insurance Providers sector
2.1 Top strategic acquirers of InsurTech Internet-First Insurance Providers companies
Hippo
HQ: United States
Website
- Description: Provider of a home maintenance platform and mobile app that helps homeowners proactively protect their property by generating personalized maintenance tasks, delivering custom plans with automated reminders, and offering exclusive money-saving deals on home products, services, and insurance.
- Key Products:
- Homeowners Insurance Policies: AI-driven coverage for homes, possessions and liability, providing accurate pricing via big data analytics and nationwide availability for homeowners
- Smart Home Sensor Program: Connected sensors detect leaks, fires or other hazards early, proactively alerting homeowners to prevent damage and reduce costly insurance claims
- Online Quote & Broker Platform: Web interface delivers 60-second quotes, transparent purchase experience, and integrates with independent brokers to distribute Hippo policies across multiple U.S. states
- Home Wellness Checkups (Sheltr): Service dispatches professionals for preventative home maintenance inspections, identifying issues early to mitigate risks and lower future insurance claims
- Rationale: Provider of AI-driven Homeowners Insurance Policies, Smart Home Sensor Program IoT alerts, and Online Quote & Broker Platform digital distribution.
- Company type: Private company
- Employees: ●●●●●
- Total funding raised: $●●●m
- Backers: ●●●●●●●●●●
- Acquisitions: ●●
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2.2 - Strategic buyer groups for InsurTech Internet-First Insurance Providers sector
M&A buyer group 1: Internet First Insurance Platforms
182 companies
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Description: Companies in the Digital Insurance Distribution Platforms category operate internet-first marketplaces, carriers, and MGAs that let consumers and businesses quote, bind, and manage coverage entirely online. They combine data-driven underwriting, embedded risk tools, and automated claims to deliver faster purchase journeys, personalized pricing, and proactive loss prevention across auto, home, health, cyber, and specialty lines. Business models span premiums, referral fees, and managed distribution services.
World Insurance
- Type: N/A
- Employees: ●●●●●
- Description: Provider of data-driven insurance brokerage, employee benefits, retirement plan and wealth management, payroll & HR, and risk management services for businesses, individuals and high-net-worth clients, delivered through a nationwide network of specialists who tailor coverage and financial solutions to improve clients’ risk management and financial outcomes.
- Key Products:
- Personal & Commercial Insurance: Offers comprehensive coverage packages protecting individuals' property and businesses' assets, liabilities, and operations with tailored risk management solutions and surety bonding options
- Employee Benefits Programs: Designs and administers benefit plans including health, dental, and ancillary coverage to attract and retain employees while managing employer costs and compliance requirements
- Retirement & Financial Services: Provides retirement planning, investment advisory, and financial counseling to help clients secure long-term financial goals and meet fiduciary responsibilities
- World Payroll & HR: Full-service human capital management platform delivering consultative support and technology for payroll processing
- HR administration, and compliance across companies of all sizes.
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Buyer group 3: ████████ ████████
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Key Products: ████████, ████████, ████████, ████████
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3. Investors and private equity firms in InsurTech Internet-First Insurance Providers sector
3.1 - Buyout funds in the InsurTech Internet-First Insurance Providers sector
2.2 - Strategic buyer groups for InsurTech Internet-First Insurance Providers sector
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4 - Top valuation comps for InsurTech Internet-First Insurance Providers companies
4.2 - Public trading comparable groups for InsurTech Internet-First Insurance Providers sector
Valuation benchmark group 1: Digital Insurance Carrier Companies
4 companies
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Description: Companies in this public trading comparables group are technology-enabled insurance carriers that underwrite and distribute policies digitally across health, auto, renters, homeowners, and adjacent lines. They monetize primarily through premiums and net earned premiums, leveraging data-driven underwriting and digital claims. Grouped for valuation benchmarks, they share direct-to-consumer models, scalable software-enabled operations, and recurring policy revenue with measurable unit economics alongside similar regulatory capital requirements and risk profiles.
Lemonade
- Enterprise value: $●●●m
- Market Cap: $●●●m
- EV/Revenue: ●.●x
- EV/EBITDA: ●●.●x
- Description: Provider of property and casualty insurance using artificial intelligence and technology to simplify the insurance process, offering renters, homeowners, car, pet, and term life insurance, aiming to reduce bureaucratic inefficiencies.
- Key Products:
- Renters Insurance: Coverage for personal property, liability, and additional living expenses
- Homeowners Insurance: Protection for home structure, personal property, and liability
- Car Insurance: Comprehensive auto insurance coverage options
- Pet Insurance: Health insurance plans for pets
- Term Life Insurance: Life insurance policies for a specified term.
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Revenue growth
Median
15.7%
2025E
16.0%
2026E
EBITDA margin
Median
28.2%
2025E
28.6%
2026E
Cash EBITDA margin
Median
27.6%
2025E
28.0%
2026E
EV/Revenue
Median
8.4x
2025E
6.8x
2026E
EV/EBITDA
Median
28.9x
2025E
24.4x
2026E
EV/Cash EBITDA
Median
29.0x
2025E
25.5x
2026E
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