After seeing many "Covid-19 is killing #insurtech VC funding" articles (which is funny because we were blaming WeWork in 01.2020), I did some research to highlight things aren't bad
(1) Looking at normalized funding below (removing the $100M+ outliers); what's up here?

The challenge is we look at "absolute deals volume" (in red below)
- This is subject to outlier effects (e.g. Root, Lemonade & other D2C players which are capital intensive)
- Also VC power laws apply to capital in-flows
Hence, absolute volume doesn't track the entire ecosystem!

Deals frequency is more robust to outlier rounds & weights B2B and D2C fairly; hence, it is a good proxy for ecosystem activity.
I've written a slightly longer piece as part of my April InsurTech funding update on @LinkedIn here:
https://www.linkedin.com/posts/rahul-jaideep-mathur_cutting-through-the-press-noise-on-insurtech-activity-6666615768966410241-9EzE

Also, how can you blame Covid-19 for changes in #insurtech funding?
- There are reporting lags in VC funding to the public
- Macro impacts on reported funding rounds has a ~6+ month lag
- Also, did you know large rounds carry a 18-24 month run-away; is YoY comparison fair?