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The field of insurance technology has had a rough time. About 7 years ago, early insurtech companies promised to disrupt the insurance industry with new tech, but today, most of those companies have either been acquired<\/a> or are floundering in the public markets.<\/p>\n Fortunately, insurtech has found a new wave to ride<\/a> in the past couple of years: \u201cembedded insurance.\u201d Insurance startups have found success in helping third-party companies \u201cembed\u201d insurance products into their customer journeys to improve sales and retention \u2014 instead of buyers actively seeking coverage, insurance might appear as an add-on at the time of customers\u2019 flight purchases, for example. Investors seem to be excited about this model<\/a>, too, though they have made it clear that good economics and healthy traction are crucial factors for startups in the space today.<\/p>\n The Carevoice, an embedded insurance solution provider that started in Shanghai and now has a footprint across 15 countries, has apparently made that math look attractive to investors in the space. The company just raised $10 million from a Series B financing led by U.K.-based Apis Insurtech Fund I, which contributed to most of the round. The investment brings the company\u2019s total capital raised to around $20 million.\u00a0<\/span><\/p>\n That\u2019s notable, given how much venture investment in startups has slowed down in the past year. In 2023, U.S.-based digital health startups raised a total of $10.7 billion across 492 deals, the lowest amount since 2019, according to Rock Health<\/a>, a health tech-focused seed fund.<\/p>\n