Top 10 Insurtech fundraisers of 2021 in Europe
Updated: Feb 10
The year 2021 has been exceptional for European Insurtechs!
Established in 2020, Inigo Limited is a neo-insurer/reinsurer specializing in random risks (natural disasters, nuclear, terrorism, political instability, etc.) for the maritime and energy sectors.
Founded in 2014, Wefox (formerly Finance Fox) is an insurance brokerage that covers three main activities: expertise in insurance consulting via its agents and conversational artificial intelligence, a coverage management platform made available to policyholders, brokers and insurers, and finally the brokerage of third-party insurance solutions. In addition, in 2017 Wefox acquired ONE, the first digital insurer reinsured by MunichRE.
Created in 2012, Manypets (formerly Bought By Many) offers insurance for pet owners. Beyond its insurance products, ManyPets offers its policyholders a range of complementary services related to the world of pets (teleconsultation, pharmaceutical treatment products for dogs and cats, etc.).
Founded in 2016, Alan is a 100% online neo-health insurer for businesses and freelancers. Alan has held an ACPR approval since October 2016. In addition to its protection offer, Alan is developing several complementary services: a teleconsultation module in partnership with Kry (Livi) since 2017, a service for future parents "Alan Baby" since 2020, a medical concierge service, as well as a QWL solution for mental health "Alan Mind" since 2021. In 2022, Alan launched "Alan Clear", an ophthalmology service allowing policyholders to virtually try on pairs of glasses directly on the app and have them delivered within a few days with a simple photo of the prescription.
Founded in 2013, Shift Technology has two SaaS offerings for insurers. The first, called Luke, automates the claims management process, reducing processing time. The second one, Force, allows to identify fraud cases thanks to a database of 100 million claims. Both solutions are based on artificial intelligence.
Created in 2016, Zego is a flexible insurance for players in the collaborative economy. Zego insures vehicles and their drivers by the hour. Zego also offers health insurance for the self-employed and SMEs. Zego's main clients are delivery services.
Founded in 2016, Envelop Risk provides insurers with an artificial intelligence-based solution that determines cyber attack risk so that insurers can offer the right pricing and products in line with customer needs and risks. Envelop Risk uses economic data, cyber trends, recent attacks and social media data to develop predictive models of cyber risk.
Founded in 2017 and owned by Insurlytech (a B2B software company for insurance), Leocare is a 100% mobile property insurance broker (car, home). In 2021, Leocare launched TakeCare, an onboard artificial intelligence service for road prevention, and a marketplace for connecting with professionals and craftsmen around the insured's place of residence. Leocare has developed ClaimCare, an automated claims management solution via video-conferencing with video appointments with an expert, remote expertise (sending photos and videos taken by the insured).
Founded in 2017, Marshmallow provides a 100% digital car insurance offer to individuals.
Founded in 2015, Clark is an insurance broker that offers an insurance platform for individuals. Users can view and manage their insurance digitally either directly on the platform or via the Clark app. Policyholders start by selecting their existing insurance policies on the platform, then with the help of artificial intelligence Clark evaluates their policies and compares them to the market in order to show them the most suitable offers. Clark experts are also available by phone, e-mail or chat for questions about insurance coverage or even in the event of damage.
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