Niche Insurance Products for a Post-COVID World

Cumulative funding in insurtech startups has skyrocketed ~200% in the last year. We explore opportunities in niche products for a post-COVID world.
AUG 17, 2021
by Julia Janks
Finance and Investing

Source: Crunchbase

Signal: Cumulative funding in insurtech startups jumped ~200% YoY from $6.4B in Q3 2020 to $12.6B in Q3 2021.

The pandemic turned the insurance industry on its head, forcing incumbents to rethink their offerings and providing opportunities for startups to fill the void, such as:

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The signal: As more people wave goodbye to dairy, alternative milk is slowly taking over; it has already cornered 13% of the market. With the exception of soy milk, all of the alt-milks have been on the up, with some of the newer entrants including hemp milk and pea milk. Other alt-products are getting attention, including cashew cheese, with 18100 searches per month.

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The signal: Since killing the headphone jack, Apple has graced the world with AirPods, which did an estimated 60m units in 2019. That means AirPods alone are bringing in approx ~$10b in revenue, more than Twitter, Shopify, or Spotify, to name a few popular tech giants. Opportunity lies in Apple opening up SiriOS or the wave of iPhone accessories (including cases, cleaning kits, hooks, and keychains) which have shown “hockey stick” growth alongside their hardware predecessor.

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