b'TECHNOLOGY|INSURTECHProgressive partnered with Fidelity Life toOther Trends in 2021launch RAPIDecision Life One, a one-year termAdditional trends that became increasingly salient in life insurance product designed for first-time life2021, include: (i) the increasing number of venture insurance buyers. This product can be issuedinvestors in the insurtech space; and (ii) the decreasing without any need for a medical exam or ashare prices of publicly trade insurtech companies and telephone call, and consumers will be able tothe associated impact on M&A activities.obtain quotes by answering five simple questions. Policy premiums will start at $7 perAccording to data compiled by CB Insights, the month and customers will have coveragenumber of venture investors (including venture options ranging from $50,000 to $200,000. capital, corporate venture, super angels and growth equity) has been increasing in the insurtech space SimpliSafe announced a relationship that willover the past 10 years, with a big jump in 2021, as offer USAA members savings on SimpliSafesshown in Figure 3. CB Insights also reported that as DIY smart home security and professionalof the third quarter of 2021, the second quarter and monitoring systems. Policyholders will be ablethird quarter of 2021 witnessed the highest and to choose between two different discounts onsecond highest number of venture investors SimpliSafe product packages. investing in insurtech deals in any quarter, with 570 Hippo Insurance subsidiary Spinnaker announcedinvestors and 396 investors participating in a partnership with Outdoorsy to enter the RVinsurtech raises in such quarters, respectively. Many insurance market. Spinnaker will supplement thebelieve that the increasing number of venture coverage currently provided by Outdoorsy and itsinvestors drove up valuations of insurtech Roamly Insurance Group unit to create a fullycompanies over the past few years, and in some end-to-end RV insurance offering. This suite willcases resulted in overvaluations in the eyes of those feature policies covering RV owners who rent onwho evaluate insurance and insurtech companies Outdoorsy or simply own an RV. based on more traditional metrics (such as whether a carrier-model insurtech has long-term sustainable USAA and CCC Intelligent Solutions announcedloss ratios as its business grows).a partnership to launch Recovery Assistant, a mobile auto claims experience app that wouldIn light of the high investor expectation regarding quickly and efficiently capture information toinsurtech investment in 2021, perhaps it is not accelerate third-party claims resolution. surprising that the share prices for many publicly traded insurtech companies declined in 2021 once earnings data did not meet such frothy expectations. As shown by the chart below, insurtech companies as a whole underperformed the S&P 500 since the second quarter of 2021.122|Global Insurance Industry Year in Review 2021'