18 months after its launch, the number of insurtech startups listed on the Insurtech Map has doubled. Liechtenstein is still underrepresented, with only four startups. The Swiss insurtech scene shows more life.

The Insurtech Map by House of Insurtech Switzerland, F10, and Kickstart maps the insurtech landscape in the DACH region, including the Principality of Liechtenstein. The map is intended to guide companies and investors looking for innovative startups in the insurtech sector. It was launched in April 2021, and the number of companies on the map has doubled to more than 200.

Only 4 Liechtenstein-based companies listed

As of today, the interactive map contains 201 startups, including 131 from Germany, 53 from Switzerland, 13 from Austria, and four from Liechtenstein. The Liechtenstein-based companies featured on the map are SynoFin, Digital Finance Life, cashyou, and prosperity brokershome.

The map allows startups to be sorted by country, value chain, business sector, and technology. Startups can independently request to be included on the map, updated quarterly. With just four Liechtenstein-based companies listed so far, Liechtenstein needs to get some more. So if you’re an insurtech, submit to get listed here.

Process digitization, automation & robotics are the main fields

Of the Swiss & Liechtenstein-based startups listed, most offer technologies from “process digitalization/ automation / robotics.” 53 percent of the startups state that they work in this area. In total numbers, that’s 28.

The second most listed area is “analytics/artificial intelligence,” with 30 percent or 16 of the Swiss insurtech companies.

The third place is companies working in the “Internet of Things.” In Switzerland, five or nine percent of the tracked companies are involved in this area.

Distributed ledger technology (DLT) companies make up only 8 percent of the insurtech scene or four companies.

Property and casualty insurance dominates

Filtering after business fields, a whopping 87 percent of Swiss insurtech startups work in the area of property and casualty insurance. In whole numbers, there are 46 companies. There is a large overlap with the startups that are also active in the “life & health” sector. Here, 30 (57 percent) companies are active.

Only three companies work with reinsurers. And of these three companies, only B3i focuses entirely on the reinsurance business. However, B3i filed for insolvency in July 2022 after it failed to raise new capital.

It’s also interesting that most insurtechs achieve value creation mainly from marketing and sales. Filtering the startups by value chain shows “marketing/sales” account for 21 startups or 40 percent of the companies.

The providers of the Insurtech Map expect the industry to continue to grow in the future. The map is a fantastic tool to get an overview of the insurtech sector and get an idea in which direction trends are evolving.

Image: © Shutterstock