b'Technology | Insurtech Annualized Insurtech funding trends including transaction volumeand dollar amount, 2012-2020400 8,000350 377 7,000300 6,347 7,108 6,000314NUMBER OF DEALS US$ MILLION250 5,000262200 218 4,0004,168150 2,721 176 3,000100 132 2,274 2,00094 1,74150 66 1,00046 276 8680 348 02012 2013 2014 2015 2016 2017 2018 2019 2020 NUMBER OF DEALSINVESTMENTSSource: CB InsightsA bigger proportion of the insurtech investment fundsvaluable due to the competitive advantage that they in 2020 ended up going to later stage insurtech compa- potentially have over insurance players who are still nies. Investors rushing to proven insurtech players anddeveloping their digital and technology infrastructure.management teams is not surprising given that COVID- The heightened investor expectations for these later 19 accentuated the need to implementstage insurtechs has driven the rapid rise of con-consumer-friendly digital platforms as soon as possiblesumer-facing digital insurance companies that have to keep and expand customers who expect on-demandbeen able to attract large amounts of capital at insurance products and services in the comfort (andrelatively high valuations to implement their business safety) of their homes in the same manner as themodels. Several insurtech companies raised substan-delivery of other consumer products. Businesses thattial amounts of capital by becoming public are able to offer efficient and consumer-friendly digi- companies through IPOs and others stayed private tized versions to facilitate the marketing and sale ofbut were able to raise large amount of additional insurance policies, underwriting, claims processing andcapital through venture mega rounds. Severalother insurance functions have become much morenotable examples are listed on the next page:MAYER BROWN 91'