Fundraising playbook

Turn insurance fundraising patterns into action.

Hard-won patterns for raising from insurance investors, connected to live database workflows so each insight can become a shortlist.

Find my investors Browse database

Playbooks

Research paths

Live

Data links

SSG

Fast pages

Strategic vs. financial money

Corporate VCs (AmFam Ventures, Allianz X, MS&AD, Aflac) bring carrier pilots, distribution and underwriting capacity — but move slower and may spook rival carriers as customers. Financial specialists (Markd, MTech, Brewer Lane, FinTLV) move faster and stay neutral. Many founders take one of each per round.

Compare investor types

Building an MGA or full-stack carrier?

Prioritize investors who can bring risk capacity, not just cash: Insurtech Gateway (FCA cover from day one), Greenlight Re, SCOR Ventures, HSCM (reinsurer capital), IA Capital & ManchesterStory (dozens of carrier LPs), and Markd (insurance-operator GP).

Find specialist capital

Cyber insurance is its own lane

The biggest cyber rounds were led by Allianz X (Coalition $250M), ICONIQ (At-Bay $185M) and Munich Re-linked funds. If you're a cyber MGA, lead with loss-ratio data and target these plus QBE Ventures and FinTLV.

Search cyber deals

Health insurance ≠ insurtech VCs

Health-plan startups raise from payer CVCs — Optum Ventures, Cigna Ventures, CVS Health Ventures, Blue Venture Fund, Kaiser Permanente Ventures — and generalists with payer exits (General Catalyst → Oscar). Standard P&C insurtech funds rarely cross over.

Browse health investors

Raising in Europe

Seed: Astorya.vc, Insurtech Gateway, Speedinvest. Series A–B: CommerzVentures, Earlybird, BlackFin, Target Global, UNIQA Ventures. Growth: Mundi Ventures, AVP, Allianz X. UK mobility precedent: Zego went Balderton → Target Global → DST.

Filter Europe/UK

Cold outreach reality check

Easiest cold entry points: InsurTech NY and Plug and Play (open applications), Speedinvest (open pitch form), Astorya & Insurtech Gateway (small funds that actively source). Generalists (Sequoia, Founders Fund, DST) effectively require warm intros.

Build a shortlist

Check fund status before pitching

Munich Re Ventures is folding new investing into MEAG, and Avanta Ventures is reportedly winding down. Insurtech corporate venture comes and goes with insurer strategy — always confirm a fund's last 12 months of deals.

Check recent activity

What round sizes look like

Benchmarks from the deal tracker: Seed $3–6M; Series A $15–30M (Insurify $23M, Kettle $25M); Series B $30–85M (Akur8 $30M, Ethos $35M); breakout rounds $100M+ (Pie $315M, Coalition $250M, wefox $650M). Size your ask accordingly.

Review round sizes

Use syndicates, not single targets

Insurance rounds are usually built from a lead + strategic co-investors. Check the Syndicates tab: Pie combined Allianz X + Acrew + Centerbridge; Akur8 paired BlackFin + MTech. Pitch complementary pairs in parallel.

Map co-investors