Insurtech Alan increased an annual recurring revenue to €505 mn
French insurtech Alan reported €505mn in annual recurring revenue (ARR) for 2024, marking a 48% increase from €340mn in 2023
InsurTech News
Life insurtech Bestow appointed new chief product officer and VP of finance
Insurtech Bestow appointed David Malenoir-Evans as chief product officer, Doug Brewster as vice president of finance
Australian digital insurance broker UpCover secured $19 mn in a Series A
Australian digital insurance broker UpCover has secured $19 mn in a Series A funding round to accelerate the growth of its platform
CLARK launched a first fully digital underwriting solution in the UK
CLARK, European digital insurance broker is transforming the insurance experience with the launch of its first fully digital underwriting solution in the UK
Wisedocs, an AI-driven insurance claims platform, introduced two new features
Wisedocs, an AI-driven insurance claims platform with expert oversight, has introduced two new features to improve how medical records
Insurtech Vigil raised $1.3 mn in a pre-seed funding led by M25
Annuities insurtech Vigil has raised $1.3mn in a pre-seed funding round led by M25, with support from Nationwide Ventures, Rex Salisbury, Clocktower Ventures
ZestyAI partnered with Safepoint to improve underwriting accuracy & risk assessment
Safepoint Holdings has partnered with ZestyAI to improve underwriting accuracy and risk assessment. ZestyAI specializes in AI-driven climate and property risk analytics
Insurtech Neutrinos introduced a platform that helps insurers apply AI-driven tasks
Neutrinos, a specialist in intelligent automation, has introduced a platform that helps insurers apply AI-driven decision-making, simplify tasks, and improve customer interactions
Duck Creek partnered with Worldpay to improve payment processing for insurers
Duck Creek Technologies, a provider of technology solutions for P&C insurance sector, has partnered with Worldpay to improve payment processing for insurers
Insurtech Comulate raised $20mn in a Series B led by BOND & Workday Ventures
Comulate, an InsurTech firm focused on accounting automation for insurance brokers, has raised $20mn in a Series B round led by BOND and Workday Ventures
High Definition Vehicle Insurance raised $40 mn in growth capital
High Definition Vehicle Insurance (HDVI), a commercial auto insurer focused on technology, raised $40mn in growth capital, bringing total funding to over $87mn
Norwegian insurTech 7Analytics received investment from IAG Firemark Ventures
Norwegian InsurTech startup 7Analytics, which focuses on flood data analytics, has received investment from IAG Firemark Ventures
AI-insurtech Cytora launched Cytora Platform 3.0, an upgraded agentic AI
Cytora, an AI-driven solution provider for insurers, has launched Cytora Platform 3.0, an upgraded version of its digital risk processing system
ICEYE and SATIM partnered for AI-powered SAR imagery analysis products development
ICEYE and SATIM, a world-leading provider of AI-based solutions, announced the signing of partnership agreement for joint product development
Insurtech Weecover secured €4.2 mn to support international expansion
Weecover, a Barcelona-based insurtech specializing in embedded insurance, secured €4.2 mn in funding to support growth and international expansion
Bayer and Insurtech Pula plan to insure 10 million farmers in Africa
Bayer Foundation and insurtech Pula plan to insure 10 million smallholder farmers in Africa by 2030. This initiative protects farmers from climate risks
Tesla launched insurance discount for Texas and Arizona drivers using FSD tech
Tesla has introduced its first insurance discount for drivers using Supervised Full Self-Driving (FSD), cutting premiums by up to 10% for policyholders in Texas and Arizona
Duck Creek Technologies introduced Payments Marketplace
Duck Creek Technologies, a software provider for property and casualty (P&C) and general insurance, has introduced Payments Marketplace
Texas Senate Bill 815 aims to prevent health insurers from using AI-based algorithms
A Texas Senate bill aims to prevent health insurance companies from using AI-based algorithms as the sole basis for denying claims
Merchants Insurance Group adopts CLARA Analytics AI to improve claims processing
CLARA Analytics announced that Merchants Insurance Group has adopted Claims DocIntel Pro and CLARA Triage for its auto liability claims
Wopta Assicurazioni, a phygital insurtech MGA, launched a €50 mn Series B
Italian insurtech firm Wopta Assicurazioni secured €12 mn in new funding through a club deal led by Belluzzo International Partners. The company also launched a €50 mn Series B
Insurtech XILO secured $7.2 mn in a Series A led by Altos Ventures
Insurtech XILO, a San Diego-based workflow automation platform for insurance agencies, secured $7.2 mn in a Series A funding round
Insurtech Bold Penguin partnered with EMPLOYERS, expanding the workers’ compensation coverage
Insurtech Bold Penguin announced a new partnership with EMPLOYERS, expanding the workers’ compensation coverage options available in the Terminal
KatRisk expands flood modelling software to Mexico, Central America, and the Caribbean
KatRisk, a catastrophe modelling software company, is expanding its advanced flood risk models to Mexico, Central America, and the Caribbean
CyberCube and Acclaim Insurance Brokers partner to improve Cyber Risk Assessment
CyberCube, a provider of cyber risk analytics, has partnered with Singapore-based Acclaim Insurance Brokers to improve cyber risk evaluation
Lloyd’s algorithmic platform Ki partnered with QBE to expand digital follow capacity
Lloyd’s algorithmic digital platform Ki has partnered with QBE Insurance Group to expand digital follow capacity
Alpine Intel acquires BSC Forensics to enhance claims investigations
Alpine Intel, a US-based insurance solutions provider, has acquired BSC Forensics for an undisclosed sum. The acquisition is expected to improve efficiency and accuracy for its clients
Ariel Re’s third-party reinsurance capital platform ARCP completes funding
Ariel Re has completed the first fundraising round for its third-party capital vehicle, Ariel Re Capital Partners (ARCP), launched in 2024
Insurtech Boxx announced 3 key appointments to drive growth in the U.S.
Toronto-based cyber insurtech Boxx Insurance has announced three key appointments to drive its growth in the United States
InsurTech Olé Life raised $13 mn in Series B funding
Olé Life, a Latin American InsurTech company, has raised $13 mn in Series B funding, led by PayPal Ventures
AI insurtech Instabase secures $100 mn in Series D funding
Instabase, an insurtech specializing in applied AI for unstructured data, has closed a $100mn Series D funding round led by QIA
Frontier Risk sequred $3 mn seed+ round to underwrite cannabis risk
Frontier Risk closed of a $3 mn seed+ round, bringing investors from the cannabis and insurance sectors to build the industry’s first tech-enabled insurance ecosystem
Insurtech Naked sequred $38 mn to drive insurance transformation in South Africa
Naked, a South African insurtech firm, has raised $38 mn in its Series B2 funding round. This represents the largest insurtech investment in Africa
Insurtech ManyPets reports £33 mn loss for FY 2024
Pet insurtech ManyPets announced a net loss of £33 mn for the year ending March 31, 2024. This marks a significant improvement from the £67.5 mn loss reported the previous year
54% of insurers expect traditional roles to require advanced technical skills – RDT poll
A recent poll by RDT reveals that 54% of insurers expect traditional roles to require advanced technical skills due to increasing automation and digital transformation
Embedded insurtech Tint announced 7x growth
Insurtech Tint announced 7x growth in 2024, marked by significant expansion across its core markets and the launch of mbedded insurance solutions
InsurTech startups to compete for £50,000 in Norton Rose Fulbright’s Insurathon
Global law firm Norton Rose Fulbright has launched the eighth annual Insurathon, a competition aimed at supporting start-ups and scale-ups driving innovation in insurance technology
Supply chain insurtech Overhaul secures $55 mn for AI and strategic expansion
Overhaul, a supply chain risk management and intelligence provider, has raised $55 mn in equity funding. The round was led by Springcoast Partners
Insurtech Rainbow secured $8 mn in a Series A funding led by Zigg Capital
Insurtech Rainbow, a managing general underwriter (MGU) specializing in business insurance, has secured $8 mn in a Series A funding round led by Zigg Capital
Insurtech Relm introduced 3 new AI-focused insurance products
Bermuda-based Relm Insurance has introduced three new AI-focused insurance products to manage risks associated with AI use in business operations
Insurtech ICEYE raises $65 mn to advance satellite and ISR technologies
Insurtech ICEYE, the global leader in SAR satellite operations for Earth Observation and persistent monitoring, secured an additional $65 mn in its 2024 growth funding
Insurtech Matic secures $30 mn funding from Vistara Growth
Insurtech Matic Insurance has raised $30 mn in growth funding from Vistara Growth to accelerate its expansion and enhance its technology platform
Insurtech Kettle appoints Jeff Chen as chief risk officer
Kettle, a wildfire-focused insurtech and managing general agent (MGA), has named Jeff Chen as its chief risk officer to lead risk management and actuarial
Insurtech Porch converts homeowners insurance business to a reciprocal exchange
Porch Group, a Seattle-based insurtech, has transitioned its homeowners insurance business into a reciprocal exchange. The company aims to use its data-driven approach
Fintech Kamino secured $10 mn to expand AI-platform for mid-market CFOs
Kamino secures $10 mn to grow its mid-market footprint, build CFO tools, and scale AI-driven financial insights ahead of 2026
Farm Bureau Insurance partnered with insurtech Akur8 to enhance pricing process
Farm Bureau Insurance Company of Idaho, the largest property-casualty insurer based in the state, has partnered with Akur8 to enhance its pricing process
Parsyl raised $20 mn to advance data-powered marine cargo insurance solutions
Parsyl, a technology-driven insurer specializing in complex supply chains, secured $20 mn in Series C funding to accelerate its expansion
Insurtech Root launches driver-based auto insurance in Minnesota
Root Insurance has expanded its auto insurance services to Minnesota, offering over 4 mn drivers a model based on driving behavior instead of traditional demographic factors
AI-driven insurtech Jones secured $15 mn in Series B funding
Jones, an AI-driven insurtech company, secured $15 mn in its Series B funding round led by NewSpring Capital.
Insurtech Bikmo raised £4.75 mn funding from Puma Growth Partners
The UK-based cycle insurtech Bikmo has raised £4.75 mn in new funding from Puma Growth Partners. The funds will support its expansion across Europe
Insurtech bolttech secures $100+ mn in Series C funding, reaching $2.1 bn valuation
Bolttech announced its Series C funding round, led by Dragon Fund, Liquidity, and MUFG, with participation from Baillie Gifford, Generali
DvSum joined Guidewire’s Insurtech Vanguards program
DvSum, a provider of data intelligence solutions, has joined Guidewire’s Insurtech Vanguards program. This initiative promotes innovation in the P&C insurance sector
MS&AD Insurance increases venture capital fund to $400 mn, prioritizing InsurTech
MS&AD Insurance Group Holdings Inc. announced a $100 mn increase to its venture capital fund, bringing the total to $400 mn. The fund focuses on startups
ICEYE enhanced its Earth Observation services by launching two SAR satellites
ICEYE has enhanced its Earth Observation services by launching two new SAR satellites, boosting its disaster management solutions
Insurtech CyberCube partnered with Penguin Tech
CyberCube, a provider of cyber risk analytics, has partnered with Penguin Tech, an integration and consulting provider, to offer improved solutions
Insurtech wefox to sell wefox Insurance to a Swiss consortium
Insurtech wefox Holding AG has finalized an agreement to sell its Liechtenstein-based insurer, wefox Insurance AG, to a Swiss consortium led by BERAG
Insurtech Zhibao Technology launches longevity risk lab in Shanghai
Zhibao Technology, an InsurTech company, unveiled the Longevity Risk Lab (LRL) in Shanghai at its inaugural Longevity Risk Conference
Insurtech Orion180 expands residential private flood insurance to 10 states
Insurtech Orion180 has introduced residential private flood insurance in 10 states, with plans for further expansion in 2025. The Florida-based insurer aims
Insurtech Duck Creek Technologies expanded senior global leadership team
Duck Creek Technologies, a insurtech provider of software for property and casualty (P&C) and general insurance, has expanded its senior global leadership team
Insurtech Kita launched Active Risk Monitoring services for the carbon markets
Carbon insurtech Kita has launched its full-spectrum Active Risk Monitoring services for the carbon markets. Since March 2024, these services were available
Global InsurTech funding rose 19.5% to $5.1 bn, with Q4 driving momentum as deal count and average size increased sharply, marking the first annual increase since 2021
InsurTech moves past disruption narrative, focuses on underwriting, AI, and operational efficiency as funding drops and insurers demand measurable results
The first notice of loss (FNOL) is the starting point for every insurance claim. It sets the tone for the entire claims cycle. And for years, this process has been manual
InsurTech funding crossed a significant milestone in Q2 2025, with $60.8bn raised since records began in 2012. The data reflects the scale of investor appetite over 10Y