123 Top Insurance Startups Impacting The Industry in [2023]

Have you ever wondered who is on the list of Insurance Companies with the highest growth rates?

You’re not alone.

There are hundreds of Insurance Companies found there, and keeping track of the hottest new startups can be challenging.

But don’t worry, we’ve got you covered. Here are the top 123 fast-growing Insurance Startups that have top-tier venture capital funding.

What are Insurance Startups?

Insurance startups are companies that are using technology to make the insurance process easier and more accessible to consumers. They are using innovative technology to provide innovative insurance products and services, such as easier process for buying insurance, better customer service, and lower premiums. 

Insurance startups are also using technology to make it easier for consumers to compare policies, shop for the best rates, and manage their insurance policies.

Top 123 Fastest-Growing Startups In Insurance

1) Upsie

Upsie is a smartphone app that offers warranties for electrical and appliance purchases.

Details of the startup:

• Country: United States
• City: Minneapolis
• Started in: 2015
• Founders: Clarence Bethea
• Number of employees: 11-50
• Funding amount: $26,380,000
• Number of funding rounds: 6
• Number of investors: 36

You can find their website here.

2) Ethos

Ethos Life is a life insurance company that offers modern and ethical policies to protect people’s lives.

Details of the startup:

• Country: United States
• City: San Francisco
• Started in: 2016
• Founders: Lingke Wang, Peter Colis
• Number of employees: 101-250
• Funding amount: $306,500,000
• Number of funding rounds: 6
• Number of investors: 15

You can find their website here.

3) Guideline

Guideline is a retirement plan platform for developing organizations that provides an all-inclusive 401(k) and full-stack solution.

Details of the startup:

• Country: United States
• City: San Mateo
• Started in: 2015
• Founders: Jeremy Caballero, Kevin Busque, Mike Nelson
• Number of employees: 101-250
• Funding amount: $339,000,000
• Number of funding rounds: 6
• Number of investors: 15

You can find their website here.

4) Bright Health

Bright Health is working on a health insurance platform that will provide a high-quality healthcare experience.

Details of the startup:

• Country: United States
• City: Minneapolis
• Started in: 2015
• Founders: Kyle Rolfing, Robert John Sheehy, Tom Valdivia
• Number of employees: 501-1000
• Funding amount: $1,575,000,000
• Number of funding rounds: 5
• Number of investors: 17

You can find their website here.

5) Shift Technology

For the worldwide insurance sector, Shift Solutions provides AI-driven decision automation and optimization technology.

Details of the startup:

• Country: France
• City: Paris
• Started in: 2013
• Founders: David Durrleman, Eric Sibony, Jeremy Jawish
• Number of employees: 251-500
• Funding amount: $319,987,263
• Number of funding rounds: 9
• Number of investors: 10

You can find their website here.

6) Embroker

Embroker assists growing businesses in saving time and obtaining the greatest value for their insurance needs.

Details of the startup:

• Country: United States
• City: San Francisco
• Started in: 2015
• Founders: Matt Miller, Sean X Cummings, Yotam Shacham
• Number of employees: 101-250
• Funding amount: $142,400,000
• Number of funding rounds: 4
• Number of investors: 16

You can find their website here.

7) wefox

Wefox is a digital insurance firm that uses technology to reinvent insurance at scale in order to keep people safe and prevent danger.

Details of the startup:

• Country: Germany
• City: Berlin
• Started in: 2015
• Founders: Dario Fazlic, Fabian Wesemann, Jonathan Seoane, Julian Teicke, Teodoro Martino
• Number of employees: 501-1000
• Funding amount: $918,500,000
• Number of funding rounds: 6
• Number of investors: 38

You can find their website here.

8) Cambridge Mobile Telematics

DriveWell is a full telematics and behavioral analytics system developed by Cambridge Mobile Telematics to increase safety.

Details of the startup:

• Country: United States
• City: Cambridge-US
• Started in: 2010
• Founders: Bill Powers, Hari Balakrishnan, Sam Madden, Tim Vogel
• Number of employees: 101-250
• Funding amount: $502,500,000
• Number of funding rounds: 2
• Number of investors: 1

You can find their website here.

9) Cowbell Cyber

Cowbell Cyber offers continuous risk assessment and cyber insurance powered by AI.

Details of the startup:

• Country: United States
• City: Pleasanton
• Started in: 2019
• Founders: Jack Kudale, Prab Reddy, Rajeev Gupta, Trent Cooksley
• Number of employees: 51-100
• Funding amount: $23,600,000
• Number of funding rounds: 2
• Number of investors: 8

You can find their website here.

10) H.I.G. Capital

With $42 billion in equity money under management, H.I.G. Capital is a global private equity and alternative asset investing organization.

Details of the startup:

• Country: United States
• City: Miami
• Started in: 1993
• Founders: Sami Mnaymneh, Tony Tamer
• Number of employees: 251-500
• Funding amount: $37,496,196
• Number of funding rounds: 3
• Number of investors: 1

You can find their website here.

11) Jerry

Jerry is a car ownership super app driven by AI, machine learning, and bots that puts answers at your fingertips and savings in your wallet.

Details of the startup:

• Country: United States
• City: Palo Alto
• Started in: 2017
• Founders: Art Agrawal, Lina Zhang, Musawir Shah
• Number of employees: 101-250
• Funding amount: $28,000,000
• Number of funding rounds: 3
• Number of investors: 36

You can find their website here.

12) Unqork

Unqork is a no-code corporate application platform that enables businesses to create, deploy, and manage sophisticated apps without writing code.

Details of the startup:

• Country: United States
• City: New York
• Started in: 2017
• Founders: Gary Hoberman
• Number of employees: 251-500
• Funding amount: $416,249,951
• Number of funding rounds: 6
• Number of investors: 21

You can find their website here.

13) Kin Insurance

Kin Insurance is an insurtech firm that specializes in providing customized house insurance policies.

Details of the startup:

• Country: United States
• City: Chicago
• Started in: 2016
• Founders: Lucas Ward, Sean Harper, Sebastian Villarreal, Stephen Wooten
• Number of employees: 101-250
• Funding amount: $156,164,957
• Number of funding rounds: 7
• Number of investors: 33

You can find their website here.

14) Corvus Insurance

Corvus Insurance is a commercial insurance company that uses artificial intelligence to help brokers and clients predict and avoid risk.

Details of the startup:

• Country: United States
• City: Boston
• Started in: 2017
• Founders: James McElhiney, Mike Lloyd, Philip Edmundson
• Number of employees: 101-250
• Funding amount: $160,800,033
• Number of funding rounds: 5
• Number of investors: 9

You can find their website here.

15) Branch Insurance

Branch Insurance is the only business that can combine home and auto insurance in a single transaction.

Details of the startup:

• Country: United States
• City: Columbus
• Started in: 2017
• Founders: Joe Emison, Steve Lekas
• Number of employees: 51-100
• Funding amount: $82,500,000
• Number of funding rounds: 4
• Number of investors: 13

You can find their website here.

16) Doma

Doma is an insurtech platform that employs artificial intelligence to make residential real estate transactions more efficient.

Details of the startup:

• Country: United States
• City: San Francisco
• Started in: 2016
• Founders: Daniel Demetri, Max Simkoff
• Number of employees: 251-500
• Funding amount: $379,615,152
• Number of funding rounds: 7
• Number of investors: 15

You can find their website here.

17) Octane

Powersports buyers may use Octane.co to research vehicles, prequalify for a loan, and check rates instantaneously with no impact on their credit.

Details of the startup:

• Country: United States
• City: New York
• Started in: 2014
• Founders: Andre Gregori, Jason Guss, Mark Davidson, Mark Garro, Michael Fanfant
• Number of employees: 101-250
• Funding amount: $349,015,898
• Number of funding rounds: 11
• Number of investors: 8

You can find their website here.

18) ELEMENT Insurance

ELEMENT Insurance is a digital insurance technology business that provides custom-made, white-label product solutions.

Details of the startup:

• Country: Germany
• City: Berlin
• Started in: 2017
• Founders: Henning Groß, Inna Leontenkova, Richard Hector, Sascha Herwig
• Number of employees: 101-250
• Funding amount: € 66,000,000
• Number of funding rounds: 5
• Number of investors: 14

You can find their website here.

19) Plum

Health insurance and perks of high quality

Details of the startup:

• Country: India
• City: Bengaluru
• Started in: 2019
• Founders: Abhishek Poddar, Saurabh Arora
• Number of employees: 11-50
• Funding amount: $20,645,163
• Number of funding rounds: 5
• Number of investors: 23

You can find their website here.

20) Next Insurance

Next Insurance is a small business and entrepreneur insurance firm that operates online.

Details of the startup:

• Country: United States
• City: Palo Alto
• Started in: 2016
• Founders: Alon Huri, Guy Goldstein, Nissim Tapiro
• Number of employees: 251-500
• Funding amount: $881,000,000
• Number of funding rounds: 6
• Number of investors: 16

You can find their website here.

21) Salty.

Salty Dot, Inc. is a technological business that specializes in Embedded Insurance®.

Details of the startup:

• Country: United States
• City: Salt Lake City
• Started in: 2019
• Founders: James Hall, Mona Eliassen
• Number of employees: 11-50
• Funding amount: $34,661,854
• Number of funding rounds: 3
• Number of investors: 3

You can find their website here.

22) Bimaplan

Insurance for the next billion Indians at an affordable price

Details of the startup:

• Country: India
• City: Bengaluru
• Started in: 2020
• Number of employees: 1-10
• Funding amount: $3,000,000
• Number of funding rounds: 2
• Number of investors: 27

You can find their website here.

23) MyMoneyMantra

MyMoneyMantra is India’s largest consumer and commercial finance phy-gital (physical-digital) marketplace.

Details of the startup:

• Country: India
• City: New Delhi
• Started in: 1989
• Founders: Raj Khosla
• Number of employees: 1001-5000
• Funding amount: $15,000,000
• Number of funding rounds: 1
• Number of investors: 2

You can find their website here.

24) Catch

Catch is a new type of personal safety net that is both accessible and affordable.

Details of the startup:

• Country: United States
• City: Boston
• Started in: 2017
• Founders: Andrew Ambrosino, Kristen Anderson
• Number of employees: 11-50
• Funding amount: $17,649,495
• Number of funding rounds: 5
• Number of investors: 17

You can find their website here.

25) handdii

handdii is an online marketplace that connects customers with insurance company contractors.

Details of the startup:

• Country: Australia
• City: Melbourne
• Started in: 2017
• Founders: Christie Downs, Kathryn Wood
• Number of employees: 11-50
• Funding amount: $4,500,000
• Number of funding rounds: 3
• Number of investors: 7

You can find their website here.

26) The Zebra

The Zebra is a marketplace for online insurance comparisons.

Details of the startup:

• Country: United States
• City: Austin
• Started in: 2012
• Founders: Adam Lyons, Joshua Dziabiak
• Number of employees: 251-500
• Funding amount: $256,525,063
• Number of funding rounds: 8
• Number of investors: 13

You can find their website here.

27) Digit Insurance

Digit Insurance is a financial services firm that specializes in general insurance.

Details of the startup:

• Country: India
• City: Bengaluru
• Started in: 2016
• Founders: Kamesh Goyal, Philip Varghese, Sriram Shankar, Vijay Kumar
• Number of employees: 1001-5000
• Funding amount: $244,460,150
• Number of funding rounds: 5
• Number of investors: 4

You can find their website here.

28) Akulaku

By providing a complete and reliable financial ecosystem, Akulaku wants to improve the quality of life for partners and consumers.

Details of the startup:

• Country: Indonesia
• City: Jakarta
• Started in: 2014
• Founders: William LI
• Number of employees: 1001-5000
• Funding amount: $218,000,000
• Number of funding rounds: 8
• Number of investors: 13

You can find their website here.

29) Turtlemint

Turtlemint is an insurtech platform that helps people find and buy the right insurance products.

Details of the startup:

• Country: India
• City: Mumbai
• Started in: 2015
• Founders: Anand Prabhudesai, Dhirendra Mahyavanshi, Kunal Shah
• Number of employees: 251-500
• Funding amount: $77,000,000
• Number of funding rounds: 5
• Number of investors: 10

You can find their website here.

30) Snapsheet

Snapsheet’s cloud-native claims management software and tech-enabled evaluation services provide exceptional claims experiences.

Details of the startup:

• Country: United States
• City: Chicago
• Started in: 2011
• Founders: Brad Weisberg, CJ Przybyl
• Number of employees: 251-500
• Funding amount: $100,384,818
• Number of funding rounds: 6
• Number of investors: 20

You can find their website here.

31) Sidecar Health

Sidecar Health is an insurtech firm that offers a customizable health insurance platform.

Details of the startup:

• Country: United States
• City: El Segundo
• Started in: 2018
• Founders: Patrick Quigley, Veronica Osetinsky
• Number of employees: 51-100
• Funding amount: $163,000,000
• Number of funding rounds: 3
• Number of investors: 11

You can find their website here.

32) Bestow

Bestow is an insurance technology firm that provides families with affordable term life insurance.

Details of the startup:

• Country: United States
• City: Dallas
• Started in: 2016
• Founders: Jonathan Abelmann, Melbourne O’Banion
• Number of employees: 101-250
• Funding amount: $137,500,000
• Number of funding rounds: 4
• Number of investors: 8

You can find their website here.

33) Vivriti Capital

Vivriti Capital is a marketplace for small businesses and individuals that don’t have easy access to credit.

Details of the startup:

• Country: India
• City: Chennai
• Started in: 2017
• Founders: Aniket Deshpande, Gaurav Kumar, Irfan Mohammed, Soumendra Ghosh, Vineet Sukumar
• Number of employees: 101-250
• Funding amount: $107,701,572
• Number of funding rounds: 4
• Number of investors: 2

You can find their website here.

34) Bold Penguin

Bold Penguin is a commercial insurance exchange that connects clients, agents, and carriers to find the best rate in the shortest amount of time possible.

Details of the startup:

• Country: United States
• City: Columbus
• Started in: 2016
• Founders: Ilya Bodner
• Number of employees: 101-250
• Funding amount: $50,500,000
• Number of funding rounds: 5
• Number of investors: 7

You can find their website here.

35) Pie Insurance

Pie Insurance is an insurtech that provides small businesses with workers’ compensation insurance.

Details of the startup:

• Country: United States
• City: Washington D.C.
• Started in: 2017
• Founders: Dax Craig, John Swigart
• Number of employees: 251-500
• Funding amount: $306,000,000
• Number of funding rounds: 5
• Number of investors: 12

You can find their website here.

36) iGenius

iGenius – Business Intelligence with a Twist

Details of the startup:

• Country: Italy
• City: Milan
• Started in: 2016
• Founders: Uljan Sharka
• Number of employees: 101-250
• Funding amount: € 20,000,000
• Number of funding rounds: 5

You can find their website here.

37) Clark

Clark is an insurance platform that offers comprehensive coverage.

Details of the startup:

• Country: Germany
• City: Frankfurt
• Started in: 2015
• Founders: Chris Lodde, Christopher Oster, Garrett Whitmore, Marco Adelt, Steffen Glomb
• Number of employees: 251-500
• Funding amount: $128,050,383
• Number of funding rounds: 5
• Number of investors: 19

You can find their website here.

38) Mile Auto

Mile Auto is an automobile insurance firm that offers a pay-per-mile service that saves money for low-mileage customers.

Details of the startup:

• Country: United States
• City: Atlanta
• Started in: 2017
• Founders: Fred Blumer, Jim Cook, Joe Fuller, Scott Nelson
• Number of employees: 1-10
• Funding amount: $12,750,000
• Number of funding rounds: 4
• Number of investors: 8

You can find their website here.

39) SBI Life

SBI Life is a life insurance company that provides a variety of plans and policies to safeguard you and your loved ones.

Details of the startup:

• Country: India
• City: Mumbai
• Started in: 2001
• Number of employees: 10001+
• Funding amount: $742,000,000
• Number of funding rounds: 1
• Number of investors: 2

You can find their website here.

40) BankBazaar.com

BankBazaar.com is an independent online marketplace that provides immediate customized loan and insurance rate quotations.

Details of the startup:

• Country: India
• City: Chennai
• Started in: 2008
• Founders: Adhil Shetty, Arjun Shetty, Rati Shetty
• Number of employees: 1001-5000
• Funding amount: $115,000,000
• Number of funding rounds: 6
• Number of investors: 16

You can find their website here.

41) Beam Dental

Beam Dental is a digital dental benefits provider that emphasizes preventative care and awards for good oral hygiene habits.

Details of the startup:

• Country: United States
• City: Columbus
• Started in: 2012
• Founders: Alex Curry, Alex Frommeyer, Dan Dykes
• Number of employees: 101-250
• Funding amount: $168,430,000
• Number of funding rounds: 7
• Number of investors: 11

You can find their website here.

42) PasarPolis

PasarPolis is an insurtech business that provides individuals with an online insurance comparison tool.

Details of the startup:

• Country: Indonesia
• City: Jakarta
• Started in: 2015
• Founders: Cleosent Randing
• Number of employees: 51-100
• Funding amount: $59,000,000
• Number of funding rounds: 6
• Number of investors: 11

You can find their website here.

43) Obie

Obie is an insurtech business that provides real estate investors with insurance and risk management.

Details of the startup:

• Country: United States
• City: Chicago
• Started in: 2017
• Founders: Aaron Letzeiser, Ryan Letzeiser
• Number of employees: 11-50
• Funding amount: $13,650,000
• Number of funding rounds: 4
• Number of investors: 11

You can find their website here.

44) LeaseLock

LeaseLock is a security deposit-free insurance technology firm that uses artificial intelligence.

Details of the startup:

• Country: United States
• City: Marina Del Rey
• Started in: 2013
• Founders: Derek Merrill, Reichen Kuhl
• Number of employees: 101-250
• Funding amount: $63,500,000
• Number of funding rounds: 6
• Number of investors: 20

You can find their website here.

45) Singlife

Singlife is a company that offers digital life insurance.

Details of the startup:

• Country: Singapore
• City: Singapore
• Started in: 2014
• Founders: Ray Ferguson
• Number of employees: 51-100
• Funding amount: $180,300,000
• Number of funding rounds: 5
• Number of investors: 7

You can find their website here.

46) OptioPay

OptioPay is a customer-centric and value-add service provider based on bank account data that uses open banking technology.

Details of the startup:

• Country: Germany
• City: Berlin
• Started in: 2014
• Founders: Marcus Borner, Mike Rötgers, Moritz Claussen, Oliver Neumann, Oliver Oster
• Number of employees: 51-100
• Funding amount: $26,398,223
• Number of funding rounds: 7
• Number of investors: 18

You can find their website here.

47) AmWINS Group

AmWINS Group is a speciality insurance products and services wholesale distributor.

Details of the startup:

• Country: United States
• City: Charlotte
• Started in: 1998
• Number of employees: 1001-5000
• Funding amount: $61,024,046
• Number of funding rounds: 6
• Number of investors: 2

You can find their website here.

48) True Balance

True Balance is a digital wallet that allows users to pay bills and access other financial services.

Details of the startup:

• Country: India
• City: Gurgaon
• Started in: 2014
• Founders: Cheolwon Lee, Jay Yi, Martin Lee
• Number of employees: 51-100
• Funding amount: $99,640,920
• Number of funding rounds: 7
• Number of investors: 17

You can find their website here.

49) Coverfox Insurance

Coverfox Insurance is an insurtech company that offers simple online insurance brokerage services.

Details of the startup:

• Country: India
• City: Mumbai
• Started in: 2013
• Founders: Devendra Rane, Varun Dua
• Number of employees: 501-1000
• Funding amount: $51,250,370
• Number of funding rounds: 6
• Number of investors: 13

You can find their website here.

50) Fixt

For corporate IT administrators and individual consumers, Fixt is the most efficient, fast, and secure solution to replace broken phones and tablets.

Details of the startup:

• Country: United States
• City: Baltimore
• Started in: 2013
• Founders: Chris Garvis, Luke Cooper
• Number of employees: 11-50
• Funding amount: $10,084,191
• Number of funding rounds: 5
• Number of investors: 21

You can find their website here.

51) Grab Financial Group

Grab Financial Group is a financial services company that offers payment, incentive, loan, and insurance services.

Details of the startup:

• Country: Singapore
• City: Midview City
• Started in: 2018
• Number of employees: 11-50
• Funding amount: $300,000,000
• Number of funding rounds: 1
• Number of investors: 5

You can find their website here.

52) Star Health and Allied Insurance

Medical Insurance, Accident Insurance, and Travel Insurance Plans are all available from Star Health and Allied Insurance.

Details of the startup:

• Country: India
• City: Nungambakkam
• Started in: 2006
• Number of employees: 1001-5000
• Funding amount: $173,773,498
• Number of funding rounds: 3
• Number of investors: 6

You can find their website here.

53) 180° Insurance

180° is an InsurTech firm that operates on the insurance-as-a-service paradigm.

Details of the startup:

• Country: Brazil
• City: Sao Paulo
• Started in: 2020
• Founders: Alex Körner, Franco Lamping, Mauro Levi D’Ancona
• Number of employees: 11-50
• Funding amount: R$44,000,000
• Number of funding rounds: 1
• Number of investors: 6

You can find their website here.

54) Sedgwick Claims Management Services

Sedgwick is a company that specializes in technology-enabled claims and productivity management.

Details of the startup:

• Country: United States
• City: Memphis
• Started in: 1969
• Number of employees: 10001+
• Funding amount: $501,781,043
• Number of funding rounds: 3
• Number of investors: 2

You can find their website here.

55) IDfy

IDfy is a people information company that helps businesses fight fraud by providing services like background checks.

Details of the startup:

• Country: India
• City: Mumbai
• Started in: 2011
• Founders: Ashok Hariharan, Hatim Baheranwala, Vineet Jawa
• Number of employees: 101-250
• Funding amount: $5,168,764
• Number of funding rounds: 5
• Number of investors: 8

You can find their website here.

56) YunQuNa

YunQuNa is a global internet site that provides logistics commerce and services.

Details of the startup:

• Country: China
• City: Shanghai
• Started in: 2005
• Founders: Shihao Zhou
• Number of employees: 251-500
• Funding amount: $206,845,307
• Number of funding rounds: 8
• Number of investors: 7

You can find their website here.

57) ottonova

ottonova is a new digital health insurance company in Germany.

Details of the startup:

• Country: Germany
• City: Munich
• Started in: 2015
• Founders: Frank Birzle, Roman Rittweger, Sebastian Scheerer
• Number of employees: 101-250
• Funding amount: € 85,000,000
• Number of funding rounds: 4
• Number of investors: 6

You can find their website here.

58) Coya

With an AI risk guardian and a simple, transparent, and personalized insurance cover, Coya provides scalable protection at the moment of need.

Details of the startup:

• Country: Germany
• City: Berlin
• Started in: 2016
• Founders: Andrew Shaw, Peter Hagen, Sebastian Villarroel
• Number of employees: 101-250
• Funding amount: $40,000,000
• Number of funding rounds: 2
• Number of investors: 4

You can find their website here.

59) Bayzat

Bayzat is a technology firm that specializes in insurance and HR software.

Details of the startup:

• Country: United Arab Emirates
• City: Dubai
• Started in: 2011
• Founders: Brian Habibi, Talal Bayaa, Tarek Bayaa
• Number of employees: 101-250
• Funding amount: $28,598,445
• Number of funding rounds: 5
• Number of investors: 10

You can find their website here.

60) Riskcovry

Riskcovry is a “Insurance-in-a-Box” approach that provides a one-stop-shop platform to meet the digital insurance needs of any organization.

Details of the startup:

• Country: India
• City: Bengaluru
• Started in: 2018
• Number of employees: 11-50
• Funding amount: $5,029,127
• Number of funding rounds: 2
• Number of investors: 6

You can find their website here.

61) MoneySmart

MoneySmart is a financial platform that allows you to find the best loan, insurance, and credit card rates.

Details of the startup:

• Country: Singapore
• City: Singapore
• Started in: 2009
• Founders: Vinod Nair
• Number of employees: 51-100
• Funding amount: $12,500,000
• Number of funding rounds: 3
• Number of investors: 7

You can find their website here.

62) fintonic

Fintonic is a free program that allows anyone to keep track of their finances and save money.

Details of the startup:

• Country: Spain
• City: Madrid
• Started in: 2012
• Founders: Aitor Chinchetru, Lupina Iturriaga, Marcos Icardo, Sergio Chalbaud
• Number of employees: 51-100
• Funding amount: $50,934,537
• Number of funding rounds: 4
• Number of investors: 7

You can find their website here.

63) FRIDAY

FRIDAY is the first German digital insurance to offer its own vehicle prices.

Details of the startup:

• Country: Germany
• City: Berlin
• Started in: 2017
• Founders: Christoph Samwer, Florian Eismann
• Number of employees: 101-250
• Funding amount: € 114,000,000
• Number of funding rounds: 1
• Number of investors: 3

You can find their website here.

64) PolicyStreet

PolicyStreet is an online platform that streamlines the insurance purchasing process.

Details of the startup:

• Country: Malaysia
• City: Kuala Lumpur
• Started in: 2016
• Founders: Wilson Beh, Winnie Chua, Yen Ming Lee
• Number of employees: 11-50
• Funding amount: $3,551,265
• Number of funding rounds: 4
• Number of investors: 4

You can find their website here.

65) simplesurance

Simplesurance combines traditional insurance industries with digital business to develop a platform for easy access to insurance.

Details of the startup:

• Country: Germany
• City: Berlin
• Started in: 2012
• Founders: Felix Jankowski, Ismail Asci, Joachim von Bonin, Patrick Frey, Robin von Hein
• Number of employees: 101-250
• Funding amount: $78,064,754
• Number of funding rounds: 10
• Number of investors: 19

You can find their website here.

66) omni:us

omni:us has developed a set of insurance-specific AI solutions for claims administration.

Details of the startup:

• Country: Germany
• City: Berlin
• Started in: 2015
• Founders: Eric Pfarl, Harald Gölles, Martin Micko, Sofie Quidenus-Wahlforss, Stephan Dorfmeister
• Number of employees: 51-100
• Funding amount: $44,108,775
• Number of funding rounds: 7
• Number of investors: 17

You can find their website here.

67) Relay Platform Inc

P&C insurance and reinsurance arrangements on a SaaS platform

Details of the startup:

• Country: Canada
• City: Toronto
• Started in: 2019
• Founders: Greg Boutin
• Number of employees: 11-50
• Funding amount: $8,130,502
• Number of funding rounds: 2
• Number of investors: 5

You can find their website here.

68) Investing.com

Investing.com is a website that provides financial market tools and information.

Details of the startup:

• Country: Cyprus
• City: Nicosia
• Started in: 2007
• Founders: Dror Efrat, Lonny Szneiberg
• Number of employees: 251-500
• Funding amount: $300,000
• Number of funding rounds: 1

You can find their website here.

69) Igloo

Igloo is an insurtech AI platform that creates digital insurance products to make insurance more accessible.

Details of the startup:

• Country: Singapore
• City: Singapore
• Started in: 2016
• Founders: Wei Zhu
• Number of employees: 11-50
• Funding amount: $16,000,000
• Number of funding rounds: 1
• Number of investors: 6

You can find their website here.

70) Acheel

Acheel is an insurtech startup that provides insurance that is completely digital, accessible, and innovative.

Details of the startup:

• Country: France
• City: Paris
• Started in: 2020
• Number of employees: 11-50
• Funding amount: € 29,000,000
• Number of funding rounds: 1
• Number of investors: 3

You can find their website here.

71) Pier

Pier is a digital insurance company that offers coverage for both smartphones and automobiles.

Details of the startup:

• Country: Brazil
• City: Sao Paulo
• Started in: 2018
• Number of employees: 51-100
• Funding amount: $22,080,962
• Number of funding rounds: 2
• Number of investors: 4

You can find their website here.

72) Bidu

Bidu is an online insurance and financial services advice, comparison, and marketplace platform.

Details of the startup:

• Country: Brazil
• City: Sao Paulo
• Started in: 2011
• Founders: Eldes Mattiuzzo, Fábio Colaferro, João Herreros, João Luiz de Souza Dantas Herreros, João Nercessian
• Number of employees: 51-100
• Funding amount: $8,900,000
• Number of funding rounds: 3
• Number of investors: 7

You can find their website here.

73) RenewBuy

The simplest method for renewing your auto insurance. In only a few minutes, you can get an estimate and insure your car.

Details of the startup:

• Country: India
• City: Gurgaon
• Started in: 2015
• Founders: Balachander Sekhar, Sandeep Nanda
• Number of employees: 11-50
• Funding amount: $74,420,855
• Number of funding rounds: 5
• Number of investors: 4

You can find their website here.

74) insureQ

InsureQ is an insurance firm that caters to the needs of SMEs, freelancers, and startups.

Details of the startup:

• Country: Germany
• City: Munich
• Started in: 2019
• Founders: Alexander Marius Le Prince, Iven Schorr, Johannes Breulmann, Laibing Yang, Luisa Müller-Wittmann
• Number of employees: 11-50
• Funding amount: € 5,000,000
• Number of funding rounds: 2
• Number of investors: 4

You can find their website here.

75) Prima.it

Prima is a car insurance business that offers direct coverage.

Details of the startup:

• Country: Italy
• City: Milan
• Started in: 2013
• Founders: Alberto Genovese, George Ottathycal, Teodoro D’Ambrosio
• Number of employees: 251-500
• Funding amount: € 100,000,000
• Number of funding rounds: 3
• Number of investors: 7

You can find their website here.

76) Finanzchef24

Through its independent online comparison platform, Finanzchef24 offers digital commercial insurance to enterprises and self-employed people in Germany.

Details of the startup:

• Country: Germany
• City: München
• Started in: 2012
• Founders: Felix Schollmeier, Hendrik Rennert
• Number of employees: 101-250
• Funding amount: € 14,000,000
• Number of funding rounds: 5
• Number of investors: 6

You can find their website here.

77) Toffee Insurance

Toffee Insurance is a one-stop shop for all of your insurance needs.

Details of the startup:

• Country: India
• City: Gurgaon
• Started in: 2017
• Founders: Nishant Jain, Rohan Kumar
• Number of employees: 51-100
• Funding amount: $7,100,000
• Number of funding rounds: 4
• Number of investors: 6

You can find their website here.

78) Zinobe

In the Colombian market, there is a digital financial services company. To better target underrepresented populations, we developed a data-centric credit model.

Details of the startup:

• Country: Colombia
• City: Bogotá
• Started in: 2011
• Founders: Martin Schrimpff, Tarek El Sherif
• Number of employees: 101-250
• Funding amount: $30,000,000
• Number of funding rounds: 3
• Number of investors: 4

You can find their website here.

79) Vital

For any individual requirement, Vital offers custom-tailored, comprehensive, and cost-effective health insurance.

Details of the startup:

• Country: India
• City: Delhi
• Started in: 2020
• Founders: Jayan Mathews, Rahul Kumar
• Number of employees: 11-50
• Funding amount: ₹219,000,000
• Number of funding rounds: 1
• Number of investors: 3

You can find their website here.

80) INZMO

INZMO is a cutting-edge insurance platform that adds value and improves the insurance experience for all parties involved at critical phases.

Details of the startup:

• Country: Germany
• City: Berlin
• Started in: 2015
• Founders: Meeri Rebane, Risto Klausen
• Number of employees: 11-50
• Funding amount: $7,871,905
• Number of funding rounds: 5
• Number of investors: 4

You can find their website here.

81) AKUR8

AKUR8 is a SaaS Insurtech that specializes in transparent AI-powered insurance pricing optimization.

Details of the startup:

• Country: France
• City: Paris
• Started in: 2018
• Founders: Guillaume Beraud-Sudreau, Samuel Falmagne
• Number of employees: 11-50
• Funding amount: € 35,300,000
• Number of funding rounds: 3
• Number of investors: 2

You can find their website here.

82) Bowtie Life Insurance Company

Bowtie is an authorized life insurance provider.

Details of the startup:

• Country: Hong Kong
• City: Hong Kong
• Started in: 2018
• Founders: Fred Ngan, Michael Chan
• Number of employees: 51-100
• Funding amount: $30,000,000
• Number of funding rounds: 1
• Number of investors: 4

You can find their website here.

83) OneDegree

OneDegree is a digital insurer and a technology business that has totally automated the insurance process from beginning to end.

Details of the startup:

• Country: Hong Kong
• City: Kwun Tong
• Started in: 2016
• Founders: Alex Leung, Alvin Kwock
• Number of employees: 11-50
• Funding amount: $30,000,000
• Number of funding rounds: 1
• Number of investors: 3

You can find their website here.

84) Coherent

Coherent is a Hong Kong-based insurtech firm that develops digital solutions for some of the world’s largest insurers.

Details of the startup:

• Country: Hong Kong
• City: Causeway Bay
• Started in: 2015
• Founders: Eric Forgy, Fred Ngan, John Brisco, Michael Chan
• Number of employees: 101-250
• Funding amount: $14,000,000
• Number of funding rounds: 1
• Number of investors: 2

You can find their website here.

85) Swingvy

Swingvy is a cloud-based human resource management tool for small and mid-sized companies.

Details of the startup:

• Country: Singapore
• City: Singapore
• Started in: 2016
• Founders: Hyojun Lee, Jahun Koo, Jin Choeh, Kit Hoong Tho
• Number of employees: 11-50
• Funding amount: $8,600,000
• Number of funding rounds: 4
• Number of investors: 6

You can find their website here.

86) AppMan

AppMan is a leading insurtech for life insurance in Thailand and the Asian market, offering technologies to improve sales experience.

Details of the startup:

• Country: Thailand
• City: Huai Khwang
• Started in: 2011
• Founders: Amarit Franssen, Nuttapon Kongkitimanon, Pak Rattidham, Thanapoom Chareonsiri
• Number of employees: 101-250
• Funding amount: THB139,000,000
• Number of funding rounds: 1
• Number of investors: 5

You can find their website here.

87) PlusSimple

PlusSimple.fr is an insurance Robo-Broker for freelancers, small enterprises, and large corporations.

Details of the startup:

• Country: France
• City: Paris
• Started in: #N/A
• Founders: Anthony Jouannau, Eric Mignot, Salah Hamida
• Number of employees: 51-100
• Funding amount: € 30,800,000
• Number of funding rounds: 3
• Number of investors: 4

You can find their website here.

88) justInCase

justInCase is Japan’s first full-stack InsurTech firm, providing online P2P insurance as well as AI-based health and small-amount insurance.

Details of the startup:

• Country: Japan
• City: Tokyo
• Started in: 2016
• Founders: Hiroo Koizumi, Kazuya Hata, Shinichi Nasukawa
• Number of employees: 11-50
• Funding amount: ¥1,195,000,000
• Number of funding rounds: 4
• Number of investors: 11

You can find their website here.

89) Sehteq

Sehteq is a Dubai-based health insurance firm using Oscar-like technologies.

Details of the startup:

• Country: United Arab Emirates
• City: Dubai
• Started in: 2017
• Founders: Saif AlJaibeji
• Number of employees: 101-250
• Funding amount: $20,000,000
• Number of funding rounds: 1
• Number of investors: 1

You can find their website here.

90) Jirnexu

Jirnexu provides FSIs and service providers with end-to-end digital acquisition tools and solutions.

Details of the startup:

• Country: Malaysia
• City: Kuala Lumpur
• Started in: 2012
• Founders: Cedric Viver, Hann Liew, James Barnes, James Wong, Lucas Ooi, Yuen Tuck Siew
• Number of employees: 101-250
• Funding amount: $37,000,000
• Number of funding rounds: 6
• Number of investors: 14

You can find their website here.

91) Rikkei Finance

Rikkei Finance is a DeFi platform with a proprietary Open Lending System that includes cross-chain lending, NFTs collateralization, and peer-to-peer insurance.

Details of the startup:

• Country: Vietnam
• City: Hanoi
• Funding amount: $5,600,000
• Number of funding rounds: 1
• Number of investors: 14

You can find their website here.

92) ComparaOnline

ComparaOnline is a Latin American price comparison platform for financial and insurance services.

Details of the startup:

• Country: Chile
• City: Santiago
• Started in: 2009
• Founders: Sebastian Valin
• Number of employees: 251-500
• Funding amount: $33,050,000
• Number of funding rounds: 5
• Number of investors: 8

You can find their website here.

93) GramCover

GramCover is a company that creates an internet insurance brokerage marketplace.

Details of the startup:

• Country: India
• City: Noida
• Started in: 2016
• Founders: Jatin Singh, Nalin Rawal, Neelam Kumar Gupta, Rishabh Garg, Rishi Raj Vashisht
• Number of employees: 1-10
• Funding amount: $20,017,565
• Number of funding rounds: 2
• Number of investors: 4

You can find their website here.

94) Insurello

Insurello is a digital platform that assists clients in locating insurance payments.

Details of the startup:

• Country: Sweden
• City: Stockholm
• Started in: 2016
• Founders: Marcus Janback
• Number of employees: 11-50
• Funding amount: $11,695,450
• Number of funding rounds: 4
• Number of investors: 8

You can find their website here.

95) DreamQuark

DreamQuark is an artificial intelligence solution for banks, insurance businesses, and asset management corporations.

Details of the startup:

• Country: France
• City: Paris
• Started in: 2014
• Founders: Nicolas Meric
• Number of employees: 11-50
• Funding amount: $19,068,702
• Number of funding rounds: 2
• Number of investors: 6

You can find their website here.

96) Planswell

Planswell is on a mission to give everyone, for free, access to the world’s most actionable financial planning experience.

Details of the startup:

• Country: Canada
• City: Toronto
• Started in: 2020
• Founders: Eric Arnold, Eric Rogness
• Number of employees: 11-50
• Funding amount: $9,740,819
• Number of funding rounds: 4

You can find their website here.

97) Convex Group

Convex Group Ltd is a Bermuda-based property and casualty insurance firm that was recently launched.

Details of the startup:

• Country: Spain
• City: Bermúdez
• Started in: 2019
• Number of employees: 251-500
• Funding amount: $500,000,000
• Number of funding rounds: 1
• Number of investors: 1

You can find their website here.

98) Telemedi.co

For insurance and medical firms, revolutionizing healthcare services.

Details of the startup:

• Country: Poland
• City: Warsaw
• Started in: 2014
• Founders: Paweł Sieczkiewicz, Piotr Słomian
• Number of employees: 51-100
• Funding amount: $7,389,296
• Number of funding rounds: 2
• Number of investors: 5

You can find their website here.

99) Claimsforce

Claimsforce is an insurance platform that attempts to make the claims management process more efficient.

Details of the startup:

• Country: Germany
• City: Hamburg
• Started in: 2018
• Founders: Bastian Schweitzer, Nils Mahlow
• Number of employees: 11-50
• Funding amount: € 7,000,000
• Number of funding rounds: 3
• Number of investors: 6

You can find their website here.

100) Vantik

Vantik is the first mobile retirement account that gives you peace of mind about your finances.

Details of the startup:

• Country: Germany
• City: Berlin
• Started in: 2017
• Founders: Lara Hammerle, Til Klein
• Number of employees: 1-10
• Funding amount: € 2,250,000
• Number of funding rounds: 3
• Number of investors: 8

You can find their website here.

101) Friendsurance

Friendsurance offers a cash back bonus to small groups of consumers who remain claimless at the end of the year.

Details of the startup:

• Country: Germany
• City: Berlin
• Started in: 2010
• Founders: Burckhardt Bonello, Janis Meyer-Plath, Sebastian Herfurth, Tim Kunde
• Number of employees: 101-250
• Funding amount: $15,300,000
• Number of funding rounds: 4
• Number of investors: 4

You can find their website here.

102) Thinksurance

Thinksurance is a major business insurance technology consultation platform utilized by brokers, agents, banks, and other sales channels.

Details of the startup:

• Country: Germany
• City: Frankfurt
• Started in: 2015
• Founders: Christopher Leifeld, Florian Brokamp
• Number of employees: 101-250
• Funding amount: € 17,000,000
• Number of funding rounds: 3
• Number of investors: 3

You can find their website here.

103) Hepster

Hepster is an insurtech firm that creates bespoke insurance products and integrates them into digital systems and procedures.

Details of the startup:

• Country: Germany
• City: Rostock
• Started in: 2016
• Founders: Alexander Hornung, Christian Range, Hanna Bachmann
• Number of employees: 11-50
• Funding amount: $10,000,000
• Number of funding rounds: 2
• Number of investors: 4

You can find their website here.

104) Descartes Underwriting

Descartes Underwriting is a data-driven risk transfer organization that specializes in climate risk modeling.

Details of the startup:

• Country: France
• City: Puteaux
• Started in: 2019
• Founders: Sebastien Piguet, Tanguy Touffut
• Number of employees: 11-50
• Funding amount: $20,773,212
• Number of funding rounds: 2
• Number of investors: 3

You can find their website here.

105) CDP Group

CDP’s integrated technology platform provides a comprehensive set of products and services for Human Capital Management.

Details of the startup:

• Country: China
• City: Shanghai
• Started in: 2004
• Founders: Wei Wang
• Number of employees: 501-1000
• Funding amount: $118,340,000
• Number of funding rounds: 4
• Number of investors: 7

You can find their website here.

106) PolicyPal

PolicyPal is a digital management platform that offers an individual financial evaluation and action plan.

Details of the startup:

• Country: Singapore
• City: Singapore
• Started in: 2016
• Founders: Val Jihsuan Yap
• Number of employees: 1-10
• Funding amount: $20,000,000
• Number of funding rounds: 5
• Number of investors: 4

You can find their website here.

107) WealthPark

WealthPark is a real estate investment and management platform that links investors and managers.

Details of the startup:

• Country: Japan
• City: Tokyo
• Started in: 2018
• Founders: Ryuta Kawada
• Number of employees: 11-50
• Funding amount: ¥4,398,000,000
• Number of funding rounds: 4
• Number of investors: 9

You can find their website here.

108) SingularCover

Singular Cover is a one-of-a-kind online insurance for small businesses. In just a few clicks, you can understand and buy.

Details of the startup:

• Country: Spain
• City: Barcelona
• Started in: 2018
• Founders: Christian Hoffmann, Rafael Gonzalez-Montejano
• Number of employees: 11-50
• Funding amount: € 6,425,000
• Number of funding rounds: 3
• Number of investors: 5

You can find their website here.

109) Lemnisk

Customer Data Platform-based Real-Time Marketing Automation

Details of the startup:

• Country: India
• City: Bengaluru
• Started in: 2008
• Founders: Chetan Kulkarni, Gourav Chindlur, Subramaniyan Krishnan, Vikram Nayak
• Number of employees: 51-100
• Funding amount: $27,000,000
• Number of funding rounds: 3
• Number of investors: 5

You can find their website here.

110) Gnowbe

Gnowbe is an award-winning performance enablement platform with a comprehensive array of enterprise-ready capabilities and rapid authoring.

Details of the startup:

• Country: Singapore
• City: Singapore
• Started in: 2015
• Founders: Rok Krulec, Roslina Chai, So-Young Kang
• Number of employees: 11-50
• Funding amount: $2,000,000
• Number of funding rounds: 1
• Number of investors: 5

You can find their website here.

111) Sirius International Insurance

Sirius International Insurance provides reinsurance and insurance services for property and casualty risks.

Details of the startup:

• Country: Sweden
• City: Stockholm
• Started in: 1945
• Number of employees: 501-1000
• Funding amount: $300,000,000
• Number of funding rounds: 1

You can find their website here.

112) ndgit

ndgit is a platform that connects banks and insurance companies with digital and creative fintech companies.

Details of the startup:

• Country: Germany
• City: Munich
• Started in: 2015
• Founders: Florian Pahl, Oliver Dlugosch
• Number of employees: 11-50
• Funding amount: $5,699,397
• Number of funding rounds: 3
• Number of investors: 6

You can find their website here.

113) Tillit Forsikring

On your phone, you can easily and affordably insure all of your belongings.

Details of the startup:

• Country: Norway
• City: Oslo
• Started in: 2017
• Founders: Elias Ottosen, Erik Skaar
• Number of employees: 1-10
• Funding amount: NOK11,000,000
• Number of funding rounds: 4
• Number of investors: 2

You can find their website here.

114) Yuanbao Insurance Research Institute

Yuanbao has a nationwide insurance brokerage company and is a favored Internet insurance platform under the Yuanbao Group.

Details of the startup:

• Country: China
• City: Changyang
• Started in: 2019
• Funding amount: CN¥1,000,000,000
• Number of funding rounds: 1
• Number of investors: 4

You can find their website here.

115) eBroker

eBroker is a B2B2C platform that allows Chinese individuals to purchase insurance and financial products from other countries.

Details of the startup:

• Country: China
• City: Shanghai
• Started in: 2015
• Founders: Max He
• Number of employees: 101-250
• Funding amount: $101,000,000
• Number of funding rounds: 4
• Number of investors: 4

You can find their website here.

116) Leapstack

Leapstack is a healthcare-focused insurtech firm that specializes in big data artificial intelligence technologies.

Details of the startup:

• Country: China
• City: Shanghai
• Started in: 2016
• Founders: Gejie Liu, Zhiyang Guo
• Number of employees: 51-100
• Funding amount: $14,531,082
• Number of funding rounds: 3
• Number of investors: 9

You can find their website here.

117) Insgeek

Insgeek is a one-stop shop for employee welfare insurance and health management for businesses.

Details of the startup:

• Country: China
• City: Beijing
• Started in: 2014
• Founders: Li Shuo, Ren Bin
• Number of employees: 1-10
• Funding amount: $47,427,777
• Number of funding rounds: 5
• Number of investors: 6

You can find their website here.

118) Huatai Insurance Group

Huatai Insurance Group specializes on providing insurance and asset management services.

Details of the startup:

• Country: China
• City: Beijing
• Started in: 1996
• Number of employees: 1001-5000
• Funding amount: $1,534,853,976
• Number of funding rounds: 2
• Number of investors: 1

You can find their website here.

119) Suning Finance

Suning Commerce Group Co., Ltd.’s financial services division is a subsidiary of the Chinese electronics retailer Suning Commerce Group Co., Ltd.

Details of the startup:

• Country: China
• City: Xuanwu
• Started in: 2015
• Number of employees: 51-100
• Funding amount: CN¥12,305,000,000
• Number of funding rounds: 3
• Number of investors: 8

You can find their website here.

120) Sunshine Insurance Group

Sunshine Insurance Group Company Limited sells and services insurance.

Details of the startup:

• Country: China
• City: Beijing
• Started in: 2007
• Founders: Zhang Weigong
• Number of employees: 5001-10000
• Funding amount: $30,470,000
• Number of funding rounds: 1
• Number of investors: 1

You can find their website here.

121) Ping An Healthcare Management

Ping An Healthcare Management is a division of China’s Ping An Insurance Group that collects and analyzes medical data.

Details of the startup:

• Country: China
• City: Shanghai
• Started in: 2005
• Founders: Mingzhe Ma
• Number of employees: 1001-5000
• Funding amount: $1,150,000,000
• Number of funding rounds: 1
• Number of investors: 4

You can find their website here.

122) Duobaoyu Insurance

Duobaoyu Insurance is a platform for internet insurance services.

Details of the startup:

• Country: China
• City: Hangzhou
• Started in: 2017
• Number of employees: 11-50
• Funding amount: $41,191,668
• Number of funding rounds: 3
• Number of investors: 5

You can find their website here.

123) AEON LIFE

AEON LIFE is an insurance firm that specializes in life insurance.

Details of the startup:

• Country: China
• City: Dalian Shi
• Started in: 2009
• Number of employees: 1001-5000
• Funding amount: CN¥328,000,000
• Number of funding rounds: 5
• Number of investors: 18

You can find their website here.

FAQs

Is Insurance Business Profitable?

The profitability of an insurance business depends largely on the specific type of insurance and the company’s approach to managing and underwriting risks. 

Generally, life insurance and property & casualty insurance are the most profitable types of insurance. However, many other types of insurance can also be very profitable.

What Is The Average Investment In Insurance?

The average investment in insurance startups can vary widely depending on the size and scope of the startup. 

Generally, seed funding investments in insurance startups range from $250,000 to $2 million, with Series A investments ranging from $2 million to $10 million. Series B investments can range from $10 million to $50 million, and Series C investments range from $50 million to $100 million or more.