FTPartnersResearch|October2022 Q32022QUARTERLYINSURTECHINSIGHTS OverviewofFTPartners 15,500+M&ADeals 24,000+Financings 18,500+PE/VCFirms 48,500+FinTechCompanies •DataInsights •FinTechDealStatistics •InvestmentTrends •IndustryResearch •PublicComparables FTPartners’Data TableofContents FTPartnersResearch|October2022 1.Q32022Highlights Q32022InsurTechStatistics FINANCING M&A Approximately $2billion infinancingvolume &85 transactions Noannouncedvaluations across26transactions o o o o oo o o o o FTPartnersResearch|October2022 2.InsurTechFinancings InsurTechFinancingActivity:Annually InsurTechFinancingActivity:Quarterly InsurTechFinancingActivity:Monthly AverageSizeofInsurTechFundingRoundsAcrossStages AverageFinancingRoundSize($inmm)–ExcludingRoundsOver$700million Showsthelargestroundbystageinspecifiedyear AllStages* SeriesA $42million $180million Seed $33million $635million $650million $120million* $200million $400million SeriesB*SeriesCSeriesD Q32022INSURTECHINSIGHTS SelectedLargeInsurTechFinancings InsurTechFinancingsOver$50million SelectedInsurTechFinancingsinQ32022 AnnounceDate Company Investor(s) Amount($inmm) Country SelectedInsurTechFinancingsinQ32022(cont.) AnnounceDate Company Investor(s) Amount($inmm) Country FinancingActivitybyRegion NORTHAMERICA EUROPE ASIA RESTOFWORLD PercentageofTotalDealCount PercentageofTotalVolume LargestDealinRegion PercentageofTotalDealCount PercentageofTotalVolume LargestDealinRegion PercentageofTotalDealCount PercentageofTotalVolume LargestDealinRegion PercentageofTotalDealCount PercentageofTotalVolume LargestDealinRegion Q32022INSURTECHINSIGHTS AllocationofInsurTechInvestments–P&C,Life,Health,Diversified AnnualBreakdownofInsurTechFinancingVolume P&CLifeHealth Diversified SelectedLifeFinancings SelectedHealthFinancings Q32022INSURTECHINSIGHTS SelectedInsurTechInvestmentsinQ32022–P&C,Life,Health,Diversified SelectedP&CFinancings SelectedDiversifiedFinancings Q32022INSURTECHINSIGHTS AllocationofInsurTechInvestments–Insurancevs.Tech AnnualBreakdownofInsurancevs.TechFinancingVolume $inmillions Insurance Tech SelectedInsuranceFinancings SelectedTechnologyFinancings SelectedInsurTechInvestmentsinQ32022–Insurancevs.Tech CumulativeFinancingofPrivateInsurTechCompanies FTPartnersResearch|October2022 3.InsurTechInvestors Ventures Q32022INSURTECHINSIGHTS VentureCapital /PrivateEquity MostActiveInsurTechInvestorsLandscape Accelerators/Seed Strategic/CorporateInvestors Alternative Investors Q32022INSURTECHINSIGHTS MostActiveInsurTechInvestors–TraditionalVentureCapital(Selected) # CurrentInsurTechInvestments 28191515 1212111111 11987 Q32022INSURTECHINSIGHTS Strategic/CorporateInvestorInvolvementinInsurTechFinancing PercentofFinancingswithStrategicParticipation SelectedFinancingswithStrategicParticipationin2022YTD Q32022INSURTECHINSIGHTS MostActiveInsurTechInvestors–Strategic/CorporateInvestors(Selected) 322017 # CurrentInsurTechInvestments 1613 Ventures 9 63 12108 FTPartnersResearch|October2022 4.InsurTechIPOs Q32022INSURTECHINSIGHTS U.S.InsurTechIPOTracker FilingDate IPODate Company AmountRaised IPO Price CurrentPrice CurrentMarketCap TotalReturn ResearchProfile Q32022INSURTECHINSIGHTS SelectedInsurTechPublicMarketActivity 150% 100% 50% 0% -50% -100% Jul-20Aug-20Sep-20Oct-20Nov-20Dec-20Jan-21 Feb-21Mar-21 Apr-21May-21Jun-21Jul-21Aug-21Sep-21Oct-21Nov-21Dec-21Jan-22 Feb-22Mar-22 Apr-22May-22Jun-22Jul-22Aug-22Sep-22 FTPartnersResearch|October2022 5.InsurTechM&A InsurTechM&AActivity SPACmergersaccountedformorethanhalfoftheM&Adollarvolumein2021 $inmillions SelectedM&ATransactionsinQ32022 AnnounceDate TargetCompany Acquirer(s) Amount($inmm) TargetDescription TargetCountry SmartCargoInsurancebusinessof High-Net-Worth(HNW)PersonalLines RecentInsurTechSPACMergers AnnouncedInsurTechSPACTransactions: CancelledInsurTechSPACTransaction: • • • SunCarInsurance • •• • DealAnnouncedFeb.24,2022 TradingBeganSept.16,2022 • DealAnnouncedMay23,2022 FTPartnersResearch|October2022 6.OverviewofFTPartners FTPartnersResearch–SelectedRecentTransactionProfilesPublished FTPartnersResearch–InsurTechCEOInterviews ShannonGoggin TyrreBurks DavidFontain PeterGrant DanAbrahamsen BryanDerbyshire JayGrayson RobSchimek ArtAgrawal RotemIram ChuckWallace JayBregman JeffRadke JohnSwigart PhilEdmundson RajPofale FTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECH FTPartnersResearch–Q32022FinTechInsights Q32022FinTechInsights: GlobalFinancingandM&AStatistics Highlightsofthereportinclude: • • • • • • Clickpicturestoviewreport FTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECH FTPartnersResearch–HealthcarePayments • • • • Clickpicturestoviewreport• • FTPARTNERS–FOCUSEDEXCLUSIVELYONFINTECH FTPartners’TrackRecordofSuccessinInsurTech Insurance LendersProtection Consumer DigitalCommercial SmallBusiness DigitalAuto ModernInsurance Di