FT Partners InsurTech 首席執(zhí)行官每月市場(chǎng)更新與分析

Featuring:

FTPartners|January2024

CEOInterview

CEOMONTHLY

MARKETUPDATE

&ANALYSIS

InsurTech

DigitalInsurance●OnlineDistribution/Platforms●

Carrier,Broker&AgencySoftware●ClaimsManagement

●Billing&Payments●PolicyAdministration●Data&Analytics

TheOnlyGlobalInvestmentBankFocusedExclusivelyonFinTech

SteveMcLaughlin|Founder,CEO,ManagingPartner

Contact:

steve.mclaughlin@

|415-385-9318

?2024

InsurTechMarketUpdate&Analysis

Contents

l.ExclusivecEOInterviewwithEduardoDellaMaggiora,Founder&CEoofBetterfly…………17

publcInsurTechsectorunverse……………………………25

i.price/EarningsMultiples

ii.commonstockcomparison

U.s.InsurTechIPOTacker…………………………39

V.MonthyDealActvityInsights……………41

V.M&ATansacons………………………………44

i.Detailedprofiles

ii.TransactionList

VI.FinancngTransactions…………52

i.Detailedprofiles

ii.TransactionList

VII.keyupcomingIndustryconferences………………58

2

FTPartners-FocusedExclusivelyonFinTech

FTPartnersisThrilledtoSponsorFintechMeetup2024

FINTECHMeetup

March3-6,2024

TheVenetian,LasVegas

Details&Registration

FintechMeetuphasrevolutionizedhowtheFinTechsector

connects,collaboratesanddoesbusinesstogether.The

conferencebringstogether5,000+attendeesandfacilitates45,000+meetingsthroughproprietaryeventtechnology,in

whatisthelargest-everFinTechmeetingsprogram.

JoinFTPartnersnextMarchandstaytunedforexclusive

updatesontheconferenceandco-hostedevents.

BenHubbard

parsylisanaward-winningsupply

chaininsurerthatusesgranular

supplychaindatatobetter

understand,priceandmitigaterisk

hanalytcs

JasonKaminsky

kwhAnalyticsprovidesclimateInsurancefor

zerocarbonassets,underwritinguniquerisk

transferproductsonbehalfofinsurance

partnersbyleveragingitsextensivedatabase

RaunakMehta

IglooisanInsurTechcompanyfocusedon

helpingunderservedcommunitiesin

southeastAsiawithitscomprehensive

suiteofdigitalmicroinsuranceproducts

JennKnight

Agentsyncbuildsmoderninsurance

infrastructurethatconnectscarriers,agencies,

MGAS,andproducerswithefcientonboarding,

compliance,real-timedata,andmore

GaganMaini

BasedinIndia,oneAssistprovides

warranty,repairandprotectionservices

forappliances,identitytheft,travel

healthcare,creditcardsandmore

Arbol

SidJha

Arbolisaglobalclimateriskcoverage

platformbringingscale,transparency

andefciencytoparametriccoverage

WayneSlavin

sureempowerspartnerstooferfullyintegrated

digitalinsuranceoferings,broadendistribution

channels,expeditenewinsuranceproducts

launches,andenhancetheuserexperience

Dhirendra

Mahyavanshi

BasedinIndia,Turtlemintisadigital

brokerofferingcar,bike,healthandterm

lifeinsurancepoliciesthatcanbe

managedthroughitsapp

JonathanSpry

EnvelopRisk,aglobalspecialtycyber

underwritingfirmutilizingmachine

learninganalyticstools,providespricing,

riskanalysis,andunderwritingtoinsurers

andreinsurers

Naked

AlexThomson

southAfrica-basedNakedInsurance

providesAl-drivencarandhomeinsurance

viaamobileapp,oferingtheabilityto

quoteandbuyinseconds,managepolicies,

andclaim,withoutspeakingtoanyone

JasonLiu

zywaveprovidesenterprisesaas

solutionsthatautomategrowthfor

companieswithintheinsuranceindustry

ShannonGoggin

Noyoconnectsandsimplifiesthe

employeebenefitsecosystemwith

modern,Aplpowereddata

infrastructure.

FTPartners-FocusedExclusivelyonFinTech

ExclusiveInsurTechCEO/ExecutiveInterviews

FTPartners-FocusedExclusivelyonFinTech

SelectedFTPartnersInsurTechTransactions

Insurance

Distribution

LendersProtection

/DefaultInsurance

Consumer

ProtectionPlans

DigitalCommercial

RiskExchange

SmallBusiness

Insurance

DigitalAuto

Insurer

ModernInsurance

Brokerage

Insurance

ComparisonSite

LifeInsurance

DigitalInsurance

Solutions

SmallBusiness

Insurance

SmallBusiness

Insurance

Telematics

LargestCommercial

InsuranceExchange

FTPartners–FocusedExclusivelyonFinTech

FTPartnersAdvisesThimbleonitsSaletoArchInsurance

OverviewofTransaction

?onApril11,2023,ArchInsuranceannouncedithadacquiredThimble

?ThimbleisaleadingInsurTechplatformhelpingsmallbusinessesacquiregeneralandprofessional

liability,businessequipment,commercialpropertyandothertypesofinsurancecoverageviaa

proprietarydigitalplatform

-ThimbleworkswithavarietyofcarriersincludingMarkelandEmployerstobringthebest

digitalinsurancesolutionstosmallbusinesses,brokersandagents

?ArchInsuranceNorthAmericaispartofArchcapitalGroup(Nasdaq:ACGL)whichprovides

insurance,reinsuranceandmortgageinsuranceglobally

SignificanceofTransaction

?TheacquisitionexpandsArch'ssuiteofdigitalsolutionsforsmallbusinesscustomersandbrokers

-sinceMay2018,Thimblehasdeliveredmorethan170,000policiestosmallbusinesses

acrosstheus

FTPartners’Role

?FTpartnersservedastheexclusivestrategicandfinancialadvisortoThimble

?ThistransactionhighlightsFTpartners'deepdomainexpertiseandsuccessfultrackrecordinthe

InsurTechspace

FTPartners–FocusedExclusivelyonFinTech

FTPartnersAdvisesNewfrontonits$200millionFinancing

OverviewofTransaction

.onApril12,2022,Newfrontannouncedthatithadclosedon$200millioninfundingata$2.2billion

valuationledbyGoldmansachsAssetManagementandBcapital

.AdditionalparticipationintheroundcamefromexistinginvestorsFoundersFund,Meritechcapital,y

combinator,Indexventures,xyz,susaventures,BloombergBeta,pruvencapital,propel,Altai,and

newinvestorsincludingTonyxucEoofDoordashandvetamer

.Newfrontistransformingthedeliveryofriskmanagement,employeeexperience,insurance,and

retirementsolutionsbybuildingthemoderninsuranceplatform

?Transparentdatadeliveredinreal-timetranslatesintoalowertotalcostofriskandgreater

insights

SignificanceofTransaction

.Newfrontplanstogrowitstechnologyteamsandfocusinparticularonharnessingdata-driveninsights

forclients

.Thecompanyalsoplanstoinvestinspecializedclientresourcesandexpertsacrossawidevarietyof

industriesandexpandacrosstheus

.withthisnewroundoffunding,Newfrontwillalsobegintoexplorebuildingbespokeinsuranceproducts

tomeettheneedsofitsclients

FTPartners’Role

.FTpartnersservedasexclusivestrategicandfinancialadvisortoNewfront

.ThistransactionhighlightsFTpartners'industry-leadingexpertisewithinInsurTech,aswellasits

successfultrackrecordofgeneratinghighlyfavorableoutcomesforhigh-growthFinTechcompanies

globally

7

FTPartners–FocusedExclusivelyonFinTech

FTPartnersAdvisesAccelerantonits$193millionFinancing

OverviewofTransaction

?onJanuary12,2022,Accelerantannouncedthatithasclosedon$193millioninfundingata~$2billion

valuationledbyEldridgeIndustries

?AdditionalparticipationintheroundcamefromDeerpark,Marshallwace,MS&ADventures,and

existinginvestorAltamontcapitalpartners

?FoundedbyJefRadkeandchrisLee-smithin2018,Accelerantisamodern,digitalcommercial

insuranceriskexchange.LeveragingitsdataanalyticsplatformInsightFull?，Accelerantispurposebuilt

toserveitsgrowingnetworkofhigh-qualitymanaginggeneralunderwriters("MGUS"),whomittermsits

Members,andconnectthemwithriskcapital

-Together,AccelerantworkswithitsMemberstodrivemarket-leadingprofitablegrowthinthe

SMEinsurancespacebyhelpingitsMembersbetterunderstandrisk,benefitfrominsights,and

handleoperationalandregulatorycomplexity

-In2021,AccelerantroughlydoubledtotalGwptomorethan$500m

?Aspartofthetransaction,ToddBoehly,chairmanandcEoofEldridge,willjoinAccelerant'SBoardof

Directors

SignificanceofTransaction

?TheproceedsofthisfnancingroundwillfuelAccelerant'scontinuedgrowth,whilealsofundingthe

business'sregulatorycapitalrequirementsasthecompany'SMembernetworkexpandsbothintheus

andglobally

?Thenewfundswillalsoallowthecompanytofurtherinvestinexpandingthecapabilitiesofits

differentiatingtechplatformInsightFul?

FTPartners’Role

?FTpartnersservedasexclusivefnancialandstrategicadvisortoAccelerant

?ThistransactionhighlightsFTpartners'industry-leadingexpertisewithinInsurTech,aswellasits

successfultrackrecordofgeneratinghighlyfavorableoutcomesforhighgrowthFinTechcompanies

globally

8

FTPartners–FocusedExclusivelyonFinTech

FTPartnersAdvisesSureonits$100millionSeriesCFinancing

OverviewofTransaction

?onoctober5,2021,sureannouncedthatithasclosedon$100millioninseriescfundingata$550

millionvaluationco-ledbyDeclarationpartnersandkinnevikwithparticipationfromnewinvestors

wndrco，F(xiàn)TAcventures,Expandingcapital,andBullpencapital

?Additionalparticipationintheroundcamefromexistinginvestorsincludingw.R.BerkleyandMenlo

ventures

?Foundedbywayneslavinin2015,sureisaninsurancetechnologycompanythatunlocksthepotentia

ofinsuranceontheinternet.Globalbrandsandworld-renownedcarriersbuildsophisticatedembedded

insuranceproductsonthecompany'ssaasinfrastructuretodistribute,service,andscaledigita

insurance.Itsplatformenablesacceleratedmarketgrowthandincreasedrevenuestreamswhile

deliveringunparalleledcustomerexperiences

-Inthelast12months,surehasmorethandoubleditsrevenueandthesizeofitsteam

-ltscohesiveecosystemofAplsenablefasterspeedtomarketandminimizetheenormouscost

andcomplexityassociatedwithnewinsuranceproductlaunches

SignificanceofTransaction

?Thisgrowthroundwillacceleratesure'sglobalexpansion,expeditenewproductlaunches,and

streamlineembeddedinsurancecustomerexperiences

?sure'sseriescfinancingwillfuelitsexpansion,enablingittohelptheinsuranceindustryreachitsfull

potentialinanonlineera

FTPartners’Role

?FTpartnersservedasexclusivefinancialandstrategicadvisortosure

?ThistransactionhighlightsFTpartners'industry-leadingexpertisewithintheburgeoningembedded

insurancespace,aswellasitssuccessfultrackrecordofgeneratinghighlyfavorableoutcomesforhigh-

growthFinTechcompaniesglobally

FTPartners–FocusedExclusivelyonFinTech

FTPartnersAdvisesLadderonits$100millionSeriesDFinancing

OverviewofTransaction

.onoctober4,2021,Ladder,aleadingInsurTechcompanythatoferslexiblelifeinsuranceinminutes,

announcedthatithasraised$100millioninseriesDfinancingledbyThomvestventuresandoMERS

GrowthEquity

.Foundedin2015,Laddercombinesthepowerofinnovativetechnologywithworld-classfinancialand

insuranceexpertisetomakeiteasyforanyonetoaccesslifeinsurance

.-

digitalarchitectureandreal-timeunderwritingtomakelifeinsuranceasaccessibleandaffordableasit

shouldbe

?Thecompanyalsoannouncedthatithasbecomethefirstfullydigitallifeinsurancecompanyin

operation,afterissuingitsfirstpoliciesthroughLadderLifeInsurancecompany

?Ladderofferscoverageupto$8millioninall50states

SignificanceofTransaction

.Thefinancingwillbeusedtoinvestinfurtherproductinnovation,andtogrowtheLadderteam,which

hasplanstomorethandoubleinthenextyear

.ThetransactionfollowsstronggrowthfromLadder,whichmorethanquadrupleditsrevenuelastyear

andplanstoissue$30billioninLadderLifecoveragebyyearend

FTPartners’Role

.FTpartnersservedasexclusivestrategicandfnancialadvisortoLadder

.ThistransactionunderscoresFTpartners'deepdomainexpertiseandtransactionalexperiencein

InsurTech，aswellasitssuccessfultrackrecordgeneratinghighlyfavorableoutcomesforhigh-growth

FinTechcompaniesglobally

FTPartners–FocusedExclusivelyonFinTech

FTPartnersAdvisesFRISSonits$65millionSeriesBFinancing

OverviewofTransaction

.onJuly28,2021,FRISS,themostwidelyadoptedproviderofAlpoweredend-to-endfraudprevention

anddetectionsolutionsforp&cinsurersworldwide,announcedithascompleteditsseriesBfnancing

roundledbyAccel-KKRandendorsedbyexistinginvestorAquiline

.Foundedin2006andheadquarteredinutrecht,Netherlands,aswellasMason,ohio,unitedstates,

FRIssistheleadingAl-poweredfraud,riskandcompliancesolutionsproviderforinsurancecarriers

.Thecompanyispoweringthedigitalizationoftheinsuranceindustrythroughfullyautomatedrisk

assessmentandfrauddetectionsolutions

?FRIssdevelopsandmarketsanAlpoweredanti-fraudsoftwarewhichsafelyenablesstraight

throughprocessingunderwritingandtouchlessclaims

?FRIsssolutionshelplowerlossratios,enableprofitableportfoliogrowth,andimprovethe

customerexperience

SignificanceofTransaction

.Thefinancingwillfuelthecompany'srapidgrowthwithadditionalproductinnovations,deepmarket

penetration,andlinesofbusinessexpansions

.Thetransactionishighlysignifcantandwillmakethecompanyreadytoscaletothenextphaseof

growth,takingtheirmissionofacceleratingsafedigitaltransformationthroughoutthepolicylifecycle

FTPartners’Role

.FTpartnersservedasexclusivestrategicandfinancialadvisortoFRISS

-FTpartnerspreviouslyadvisedFRIssonitsacquisitionofTerreneLabsinApril2021

.ThistransactionunderscoresFTpartners'deepdomainexpertiseandtransactionalexperiencein

InsurTech，aswellasitssuccessfultrackrecordgeneratinghighlyfavorableoutcomesforhigh-growth

B2BFinTechcompaniesglobally

FTPartners–FocusedExclusivelyonFinTech

FTPartnersAdvisesClearcoveronits$200millionSeriesDFinancing

TransactionOverview

?onApril13,2021,clearcoverannouncedithasraised$200millioninitsseriesDfinancinground

-TheinvestmentwasledbyEldridgewithparticipationfromexistinginvestors,including

AmericanFamilyventures,COXEnterprises,OMERS,aswellasothernewinvestors

-clearcoverhasraised$329millionintotalfundingtodate

?clearcoveristhesmartercarinsurancechoice,offeringbettercoverageforlessmoney

-clearcover'scustomer-frst,service-focusedmodelpoweredbyadvancedtechnologydeliversa

convenient,reliableandaffordableexperience

-Builtfortoday'sdriver,clearcover

savemoney,getinsured,andgetservicedonthego

?sinceitsfoundingin2016,clearcoverhasexpandedto15statesandhasachievedsignifcant

momentum

SignificanceofTransaction

?Thisrecentroundoffundingpositionsclearcoverasthecompanytowatchinanindustrythatcontinues

toexperienceaccelerateddigitaltransformation

?Thefundingwillaccelerateinnovationofthecompany'sdigitalinsuranceoferings,byenabling

clearcovertoinvestinandgrowitsteamofengineersanddevelopers

FTPartners’Role

?FTpartnersservedasexclusivefinancialandstrategicadvisortoclearcover

?ThistransactionhighlightsFTpartners'deepdomainexpertiseintheInsurTechsector,aswellasits

successfultrackrecordgeneratinghighlyfavorableoutcomesforhigh-growthFinTechcompanies

FTPartners–FocusedExclusivelyonFinTech

FTPartnersAdvisesTheZebraonits$150millionSeriesDFinancing

TransactionOverview

?onApril12,2021,ThezebraannouncedthecompletionofitsseriesDfundraisetotaling$150million,

valuingthecompanyatmorethan$1billion

?Thefundraisecomesatatimeofsustainedgrowth,withinvestmentfromnewandformerinvestors

includingweatherfordcapitalandAccel

?HeadquarteredinAustin,Texas,Thezebraisthenation'sleading,independentinsurancecomparison

site;Thezebrahassoughttobringtransparencyandsimplicitytoinsuranceshoppingsince2012—it's

"insuranceinblackandwhite"

?withitsdynamic,real-

coverage,servicelevel,andpricingtosuittheiruniqueneeds

?Thezebracomparesmultipleinsurancecompaniesandprovidesagentsupportandeducational

resourcestoensureconsumersareequippedtomakethemostinformeddecisionsabouttheirhomeand

autoinsurance

SignificanceofTransaction

?ThisinvestmentwillbeusedtoexpandThezebra'steamandacceleratethecompany'seffortstohelp

educate,empowerandadviseconsumerstofindthebestpoliciesfortheiruniqueneeds,nomatter

wheretheyareintheirlives

FTPartners’Role

?FTpartnersservedasexclusivefnancialandstrategicadvisortoThezebra

?ThistransactionhighlightsFTpartners'deepdomainexpertisewithinInsurTech,aswellasoursuccessfu

trackrecordgeneratinghighlyfavorableoutcomesforhigh-growthFinTechcompaniesglobally

FTPartners–FocusedExclusivelyonFinTech

FTPartnersAdvisesSnapsheetonits$30millionSeriesE2Financing

TransactionOverview

?onMarch25,2021,snapsheetannouncedits$30millionseriesE2financingroundledbypingA

GlobalvoyagerFundandpivotnvestmentpartners

-ExistinginvestorsincludeNationwide,LibertyMutual,Intactventures,Tolacapital,and

commerceventures,amongothers

?Headquarteredinchicago,L,snapsheetisaleaderincloudnativeclaimsmanagementsoftwarefor

insurancecarriers,third-partyadministrators,insuredsandvendors

?sinceitsfoundingin2010,snapsheet

inappraisals

SignificanceofTransaction

?Thisfundingwillallowsnapsheettoaccelerategrowthandaddnewfunctionalitytoitscloudnativeend-

to-endclaimsmanagementplatform

?Tofuelfurtherproductdevelopmentandextendawareness,snapsheetwillusethefundstomakekey

hiresacrossengineeringandsalesteams

?withthisroundsnapsheethasraisedmorethan$100millioninfinancing

FTPartners’Role

?FTpartnersservedasexclusivestrategicandfnancialadvisortosnapsheetanditsboardofdirectors

?FTpartnerspreviouslyadvisedsnapsheetonitsin2019

?ThistransactionunderscoresFTpartners'deepInsurTechdomainexpertiseanditssuccessfultrack

recordgeneratinghighlyfavorableoutcomesforhighgrowthFinTechcompaniesglobally

FTPartners–FocusedExclusivelyonFinTech

FTPartnersAdvisesCoverWalletonitsSaletoAon

TransactionOverview

?onNovember20,2019,Aon(NYSE:AON)announcedthatithassignedadefinitiveagreementto

acquirecoverwallet

?Launchedin2015,coverwalletisaleadingtechnologycompanyreinventingthemult-billiondollar

commercialinsurancemarketforsmallbusinesses

?poweredbydeepanalytics,thoughtfuldesign,andstate-the-arttechnology,thecompanyprovides

aneasywaytounderstand,buy,andmanagebusinessinsuranceonline

?coverwalletofersawidevarietyofcommercialcoveragestosmallbusinesseswithnumerouscarrier

partnersnationwide

?Thetransactionisexpectedtocloseduringthefirstquarterof2020,afterwhichthecoverwallet

organizationwillgotomarketascoverwallet,anAoncompany

SignificanceofTransaction

?coverwaletwilladdlargeandrapidlygrowingdirectto-consumerandbusiness-to-businesschannelsto

Aon'ssmallcommercialinsurancebusinesses,signifcantlyexpandingthetotaladdressablemarketof

bothcompanies

?TheacquisitionprovidesAonwithadditionalaccesstothefast-growing,$200+billionpremiumdigital

insurancemarketforsmallandmedium-sizedbusinesses,aswellastheopportunitytoleverage

coverwallet'splatformanddigital,design,technologyanddatasciencecapabilitiesalreadydeployedat

scale

?Additionally,coverwalletprovidesAonwithanexperiencedteamanddeepexpertiseinproductizing

technologyinfinancialservices

FTPartners’Role

?FTpartnersservedasexclusivestrategicandfnancialadvisortocoverwaletanditsboardofdirectors

?ThistransactionhighlightsFTpartners'deepdomainexpertiseintheInsurTechspace,anditssuccessful

trackrecordgeneratinghighlyfavorableoutcomesforhighgrowthFinTechcompaniesglobally

FTPartners–FocusedExclusivelyonFinTech

FTPartnersAdvisesAssuranceonitsSaletoPrudentialfor$3.5billion

TransactionOverview

?onseptember5,2019,prudentialFinancial(NYSE:PRU)announcedthatithassignedadefinitive

agreementtoacquireAssuranceIQ("Assurance")

?Theacquisitionincludestotalupfrontconsiderationof$2.35billionandanadditionalearnoutofupto

$1.15billionincashandequity,contingentuponthecompanyachievingmulti-yeargrowthobjectives

?Launchedin2016,Assuranceisthefastestgrowingdirect-to-consumerInsurTechplatforminhistory

?usingacombinationofadvanceddatascienceandhumanexpertise,Assurancematchesbuyerswith

customizedsolutionsspanninglife,health,Medicareandautoinsurance,givingthemoptionsto

purchaseentirelyonlineorwiththehelpofatechnology-assistedliveagent

SignificanceofTransaction

?Assurancewilladdalargeandrapidlygrowingdirect-to-consumerchanneltoprudential'sfinancial

wellnessbusinesses,signifcantlyexpandingthetotaladdressablemarketofbothcompanies

?Bothcompanieswilldrawonrespectivecapabilitiestocreateanew,end-to-endengagementmodel

gearedtobetterservecustomers

?ThetransactionisthelargeststrategicInsurTechexitinhistoryandrepresentsoneofthefastestmult-

billiondollartechexits,asthecompanywasonlyfoundedinFebruary2016

?Assurancewasfundedentirelybyitsfounders,highlightingFTpartners'abilitytohelpunder-the-radar

FinTechcompaniesachieveoptimaloutcomes

FTPartners’Role

?FTpartnersservedasexclusivestrategicandfinancialadvisortoAssuranceanditsboardofdirectors

?ThistransactionhighlightsFTpartners'deepdomainexpertiseintheInsurTechspace,anditssuccessfu

trackrecordgeneratinghighlyfavorableoutcomesforhighgrowthFinTechcompaniesglobally

I.ExclusiveCEO

Interview

InsurTechMarketUpdate&Analysis

BetterflyOverview

Founder&CEO:

EduardodellaMaggiora

Headquarters:

Santiago,Chile

Founded:

2018

.Betterflyoffersapersonalizedgroupprotectionplatformwithlifebenefitsandsocialimpact,withamissiontoempoweritsuserstolivetheirbestlives

.Theplatformutilizesapurposedrivengamifiedsystemwheregoodhabitsareconvertedintoincreasinginsurancecoverage,rewardsandcharitabledonationsaseveryhealthyactivityistransformedintofinancialprotection,giftcardsanddiscounts,andsocialdonations

.Italsoprovidestoolsthatenablecompaniestoeasilymanagetheiremployeeandclientsbenefits,trackwellnessinitiatives,andgivepersonalizedsupportincreasingretentionandloyalty

.Betterflyaimstohelpbusinessesinallsegmentsactivelyparticipateincorporatewellness,CSR,employeebenefitsandclientretentionprograms

.CurrentlyoperatesinBrazil,Colombia,Ecuador,Spain,Mexico,Peru,ArgentinaandChilewithplansofexpandtotheUSin2024

SelectedFinancingHistory

AnnounceDate

SelectedInvestor(s)

Amount($inmm)

02/01/22

GladeBrookCapitalPartners,QEDInvestors,DSTGlobal,Greycroft,Mundi

Ventures,10XCapital,Gaingels,Tiny(HoldingCompanies),CalmVentures,GGCapital(LatinAmerica),AsiriS.A.S,Lightrock

$125

06/16/21

DSTGlobal,EndeavorCatalyst,GAAInvestments,SoftBankLatinAmericaFund,VentureSouq,QEDInvestors,ValorCapitalGroup

60

12/30/20

QEDInvestors,NXTPVentures,GrupoPrisma,EndeavorCatalyst,LivingFund,KatapultGroup,AlbatrossCapital

19

Toolstobuildabetteryouandabetterworld-allinoneplace

Betterflyintegratestheworldsofinsurance,wellbeingandpurposeintoapowerfulgamified

experience

PersonalizedProtection

Life

Benefits

SocialImpact

All-in-oneplatformwith

insurancethatgrows,rewards

healthyhabitsandletsusers

choosewhatitprotects

NotableClients

Usersengagewitharangeof

world-classbenefits,valuable

learningtoolsandoriginal

contenttobuildbetterhabits

andelevatetheireveryday

Turnsmallactionsintobigimpact.

Asusersincreasetheirhealthy

habits,they’llaccumulatein-app

currencytomakecost-free

donationstoreal-worldsocial

causes

SelectedManagementTeam

AndresLiberman

ChiefInformationOfficer

RonnyGonzalez

ChiefProductOfficer

EduardodellaMaggiora

Founder&CEO

CristobaldellaMaggiora

Co-Founder&President

Source:CompanyWebsite,FTPartners’ProprietaryTransactionDatabase

InsurTechMarketUpdate&Analysis

BetterflyInterview

BeIIeRFLY⑧

EduardodellaMaggiora

Founder&CEO

pleasetellusabitaboutyourbackgroundandhowitledyouto

foundingBetterfly.

lwasborninsantiago,chile,andwastheeldestamongthreesiblings·After

earningmyengineeringdegree,ISpent10yearsworkingatJPMorgan,inthe

LatinAmericaM&Agroup,firstinsantiagoandtheninNewyork.

ltwasininvestmentbankingwhereIWasfirstexposedtotheinsurancesector,

workinginseveratransactionsacrosstheregionThen,comesmypersonal

onlydidlosethepersonlovedthemostbutalsowitnessedadrasticchangein

ourfamily'sfinancialsituation

Inastrikingparellel,15yearslaterlwasonceagainconfrontedwithlife'sfragility,

thistimewithmymother.shewasdiagnosedwithanaggressiveformofleukemia,

butfortunately,thistimearoundwedidhaveinsurancecoveragethatpaidforher

treatmentandultimatelysavedherlife.

Thisiswhentrulygraspedtheimportanceofinsuranceinpeople'slives,and

also,itwasduringthesemomentsthatalife-alteringquestionemergedinmy

life"Iftodaywasmylastdayhowwouldmeasuremylife?"cametothe

conclusionthatthebestwaytomeasuremylifewouldbetoseehowwas

usingmytime,skillsandenergytomakeanimpactinotherpeople'slives.And

whenIStartedaskingmyself"whatamldoingtodaytomakeanimpact?"

couldnotanswerthisquestion·So,Idecidedtoquitmyjob,leaveNewyork,

andmovetoTanzania,wherespentsixmonthsvolunteeringinalocal

elementaryschool,wheremajoritysufferedfrommalnutrition

AfewmonthsaftercomingbackfromAfricaandwhileridingmybike,acrazy

ideacrossedmymindwhatifICould"convertthecaloriesburnedexercising

intocaloriesoffoodforchildreninneed?",whatifwecoulduse"purposeasa

motivator"andgetpeopleactiveandhealthyyknowingthattheircaloriesof

exercisewouldbeconvertedintolifesavingnutrition?whatifwecouldleverage

technologyandthepowerofpurposetoinspireindividualstoimprovetheir

wellbeing?And,whatifwecouldempowerpeopletomakeameaningful

impactintheircommunitiesandprotecttheirfamiliessimplyylivingtheirbest

lives?

ThisishowBetterfly9otstartedandmarkedthebeginningofourjourney

InsurTechMarketUpdate&Analysis

BetterflyInterview(cont.)

whatspecificchallengesdoesBetterflyaimtosolvefor

employersandemploy