b'TECHNOLOGY|INSURTECHOut of the total funds that were invested inRelatedly, CB Insights reported that in the second insurtechs in 2021, a significant proportion oncequarter of 2021, 95% of the worlds insurtechs again went to later-stage insurtechs. CB Insights hasreceived zero funding, as 67% of the total quarterly observed that approximately 50% of insurtechinsurtech investments went to only 15 deals, while investment went into mega-round ($100 million plus)the remaining $1.5 billion was distributed (unevenly deals per quarter between 2018 and 2021. Per CBwith concentration in just a few) among 147 Insights, the number of insurtech unicorns (each,companies. Such imbalanced allocation of funding a private company with a valuation over $1 billion)between early and later-stage companies is not created within a quarter also reached a recordsurprising as later-stage insurtech companies are number in 2021, as 24 new insurtech unicorns weremore likely to have products and services ready to created in 2021, compared to five created in each ofbe deployed in fast expanding markets (whether or 2020 and 2019 and four created in 2018. not digital) and also have greater capital needs.Figure 2. Six insurtechs were classified as unicorns in the fourth quarter of 2021, bringing the global herd to 34 unicorns. Source: CB Insights120|Global Insurance Industry Year in Review 2021'