From AI-powered underwriting platforms and embedded technology to innovative payments and cyber solutions, these startups are reshaping the insurance industry. Insurtech Insights charts the success of 14 insurtechs that are driving innovation and winning investor support.
INSHUR
Raised: US$19 million
Sector: Embedded Insurance
CEO: Dan Bratshpis
Lead investors: Viola Growth, with the participation of MS&AD Ventures and existing investors
INSHUR, the global embedded insurance provider to the on-demand economy, has raised $19 million in its latest funding round. Led by Viola Growth, with the participation of MS&AD Ventures and existing investors, this round brings INSHUR’s funding to a total of $78.5m.
INSHUR provides embedded insurance solutions and complementary technology integrations for digital platform providers such as Uber and Amazon. Thanks to its unrivaled underwriting capabilities and exceptional claims handling, INSHUR offers a personalised suite of products that protects the wellbeing of on demand livery and delivery drivers.
This news is the latest strategic milestone in INSHUR’s growth story, continuing to secure the company’s position as the the leader in on-demand economy insurance. The investment will enable the business to continue scaling its operations globally, particularly in the US, establish and develop further relationships with key platform partners, and to continue to build its global team of insurance and technology experts.
“2023 was truly a break-out year for INSHUR, and I couldn’t be more grateful for the support of our investors and partners in helping us realise our goal of becoming the on-demand economy insurance market leader. We know from our research that on-demand economy drivers need new approaches from the insurance industry to support their lifestyles, and Viola Growth and MS&AD Ventures have demonstrated their commitment to helping to build the new generation of technology-driven insurers.”
CEO and Co-Founder, Dan Bratshpis
Inspectify
Raised: US$5.26 million
Sector: Property inspection and underwriting
CEO: Josh Jensen
Lead investors: Munich Re Ventures
Inspectify, a property inspection and underwriting platform, raised $5.26 million, bringing the company’s total financing to approximately $23 million. The capital will be used to advance its mission to modernise property inspection processes across sectors including real estate, lending, property management, and insurance.
“With the rise of extreme weather and escalating replacement costs, having accurate, real-time data on properties is crucial for insurers. Our platform is designed to meet these needs.”
Josh Jensen, Co-founder and CEO of Inspectify
Branch
Raised: US$51 million
Sector: Umbrella insurance
CEO: Steve Lekas
Lead investors: American Family Ventures and HSCM
Branch raised $51 million in a new funding round led by American Family Ventures. With a strong focus on customer experience and innovative technology, Branch aims to disrupt the traditional insurance industry. The company’s core business is auto, homeowners, renters and umbrella insurance. The insurtech leverages AI and machine learning to offer personalised and affordable coverage.
The investment will fuel Branch’s growth trajectory, enabling the company to expand its product offerings and geographic reach. In June 2022, Branch raised $147 million in Series C funding and gained a post money valuation of $1.05 billion.
“We came from a place where we were not the first insurtech, so we battled early since venture doesn’t like to compete with venture, so once venture thinks there’s a well-funded, intelligent, credible group of people tackling a problem, then they think twice about putting more money behind a competitor.”
Co-founder and CEO Steve Lekas
Agentech
Raised: US$3 million
Sector: Claims
CEO: Alex Pezold
Lead investor: Various
Agentech, a leading AI-powered workforce solution for insurance claims has raised $3 million in seed funding within just 30 days, setting the stage for expansion into Property & Casualty (P&C), Workers’ Compensation, and Travel claims workflows. Co-founded by insurtech veterans Robin Roberson and Alex Pezold, Agentech aims to revolutionise the insurance adjudication process by leveraging cutting-edge AI technology.
“Our AI solutions are already delivering measurable results, with design partners seeing significant improvements in productivity, cost efficiency, and customer satisfaction. This successful seed round demonstrates strong investor confidence in our leadership and Agentech’s potential to transform the claims process.”
Alex Pezold, Agentech’s Co-Founder and CEO
ClaimSorted
Raised: US$3 million
Sector: Claims
CEO: Pavel Gertsberg
Lead investors: YCombinator, Precursor Ventures, and Transpose
ClaimSorted, an insurtech company dedicated to streamlining claims processing, recently raised $3 million in pre-seed funding from lead investors YCombinator, Precursor Ventures, and Transpose. Founded by industry veterans and best friends German Mikulski and Pavel Gertsberg, the company’s AI-powered platform automates routine tasks, empowering human handlers to focus on complex cases. According to reports, Claim Sorted plans to expand its operations and continue developing innovative solutions to transform the claims processing industry.
“Too many insurers are stuck with claims partners who just don’t care enough about their customers. We experienced this frustration first hand. With ClaimSorted, we’re building a solution that puts their customers at the center of the claims experience.”
Pavel Gertsberg, Co-founder and CEO
Stoïk
Raised: US$27 million
Sector: Cyber Insurance
CEO: Jules Veyrat
Lead investors: Alven, Andreessen Horowitz, Munich Re Ventures, Tokio Marine, CYBICA, Opera Tech Ventures, and Anthemis
Paris-based cyber insurance startup Stoïk, raised $27 million in Series B funding, led by Alven. The raise comes 12 months after the startup secured $10.7 million in its previous round. Launched in 2021, Stoïk operates as a managing general agent (MGA) and provides cyber insurance coverage to companies with up to €750 million in annual revenue. The company distributes its products through independent brokers, backed by a range of insurers and reinsurers, including Acheel, Axeria, Swiss Re, and Tokio Marine HCC.
“This investment highlights the trust our partners and investors have in Stoïk’s future. With this €25 million Series B, we will enhance our product offerings and continue our expansion across France, Germany, and other European markets.”
Jules Veyrat, CEO and Co-founder of Stoïk
COVU
Raised: US$12.5 million
Sector: AI services
CEO: Ali Safavi
Lead investors: Benhamou Global Ventures (BGV), ManchesterStory, and Markd
COVU, a leader in AI-native services for insurance agencies raised $12.5 million in equity and debt financing as part of its first Series A funding round, bringing COVU’s total raised to over $20 million, with additional $4 million in debt and equity financing set to be unlocked upon reaching key milestones. COVU provides a range of AI-driven products and services to insurance agencies, including CRM, marketing tools, and licensed support. The fresh capital will enable the startup to further enhance its platform, allowing agencies to streamline their workflows, improve customer service, and scale their businesses with greater confidence.
“We are committed to providing insurance agencies with AI-native solutions that enhance both efficiency and trust. This funding enables us to double down on our investment in AI-native services and help our agency partners optimise their operations and deliver superior customer experiences.”
Ali Safavi, Co-Founder and CEO
Stream Claims
Raised: US$5.3 million
Sector: AI-powered medical document review
CEO: Eric Yen
Lead investors: Spark Capital
AI-powered medical document review insurtech Stream Claims recently raised $5.3 million in a seed funding round led by Spark Capital. Launched in 2022, Stream Claims, led by CEO Eric Yen, offers a platform designed to help clients streamline medical record processing and extract critical insights. This latest round brings Stream’s total funding to $6.8 million.
“With this new capital, we’re doubling down on our product and customer success teams, ensuring we deliver even more value to our customers. In 2025, we plan to further enhance our AI-driven platform, making it more powerful and adaptable to the evolving needs of the workers’ compensation industry.”
Stream CEO Eric Yen
Qantev
Raised: US$32.4 million
Sector: Claims
CEO: Tarik Dadi
Lead investors: Blossom Capital
Qantev, a leading provider of AI-powered claims management solutions for health and life insurers, raised $32.4 million in a round led by Blossom Capital.
The raised capital will enable Quantev to accelerate its global expansion, enhance its platform with advanced AI modules, and recruit top-tier AI and engineering talent. The company’s goal is to further optimise claims processing, improve decision-making, and reduce operational costs for insurers.
“A perfect storm of increased costs, post-COVID backlogs, chronic diseases, an ageing population, and increased demand means healthcare insurers can no longer keep up with paperwork. The growth we have seen at Qantev over the past 12 months is not only a testament to the work our team has done in solving these challenges but also the need for a solution like ours.”
Tarik Dadi, CEO and co-founder of Qantev
Ledgebrook
Raised: US$17 million
Sector: E&S
CEO: Gage Caligaris
Lead investors: Duquesne Family Office
US-based insurtech MGA Ledgebrook secured $17 million in a Series B funding round, led by Duquesne Family Office. Launched in 2022, Ledgebrook focuses on delivering technology-driven solutions in the Excess and Surplus (E&S) insurance market, streamlining the placement of complex risks for brokers. The fresh capital will accelerate business expansion, enhance product offerings, and further develop its platform. The funding also coincides with the appointment of Anthony Segal-Knowles as Chief Financial Officer, bringing significant financial expertise from roles at Lazard, the British Treasury, and the International Monetary Fund.
“We are thrilled to welcome Duquesne Family Office and the Stephens Group into the Ledgebrook family. Their commitment to long-term thinking aligns well with our vision for what Ledgebrook can be in the coming decades. It is a rare opportunity to be able to bring on partners of this calibre and I could not be more excited.”
Ledgebrook CEO Gage Caligaris
Whatfix
Raised: US$125 million
Sector: Digital transformation
CEO: Khadim Batti
Lead investors: Various
Whatfix, a digital adoption solutions provider, raised $125 million in its Series E funding round, pushing its total funding to $264.8 million. The fresh capital will be used to fund the growth of its Digital Adoption Platform (DAP) and enhance its global presence, with a focus on expanding in the US, EMEA, and APAC regions. Whatfix‘s DAP enables enterprises to streamline user onboarding, improve training, and boost software adoption through in-app guidance and real-time analytics.
Diesta
Raised: US$3,8 million
Sector: Payments
CEO: Julian Schoemig
Lead investors: FinTech Collective, with participation from Commerce Ventures and existing investors.
Spanish insurtech Diesta recently raised $3.8 million seed funding round. Diesta’s platform provides a unified solution for managing premium payments, automating manual processes and offering valuable insights into payment data. This can help insurance companies reduce costs, improve efficiency, and unlock new revenue opportunities.
The investment will enable Diesta to further scale its platform and continue transforming the way insurance companies process B2B premium payments.
“Our recent funding from FinTech Collective, Commerce VC, and existing investors underscores the fast growing focus on B2B insurance payments. Insurance currently moves every original premium payment seven times through outdated systems, highlighting the immense potential for digitisation. With the support of our new fintech partners, we’re excited to build the bridge between cutting-edge payment technology and the commercial insurance industry.”
Co-Founder and CEO Julian Schoemig
Pinpoint Predictive
Raised: US$23 million
Sector: Risk assessment for P&C
CEO: Scott Ham
Lead investors: Markd, with additional participation from Jazz Venture Partners, Guidewire Ventures, Verstra Ventures, Navigate Ventures, and Seraph Group.
San Mateo-based startup Pinpoint Predictive recently raised $23 million in its Series A round. Launched in 2015, Pinpoint Predictive provides machine learning-driven risk assessment tools for property and casualty (P&C) insurers. The company’s platform is designed to improve loss ratios by 3 to 10 points, offering enhanced accuracy in risk management. The newly acquired funds will fuel the expansion of its platform and customer base across home, auto, and commercial insurance markets.
“We are thrilled by the overwhelming response and confidence shown by investors who share our vision of revolutionising the insurance industry through innovative AI solutions. The milestone is a testament to the amazing team we have here at Pinpoint, as well as a recognition that our platform is empowering clients to improve profitability and better serve their stakeholders. With this new funding, we are not just forecasting trends; we are setting them.”
Scott Ham, CEO of Pinpoint Predictive
Herald
Raised: US$12 million
Sector: Digital transformation
CEO: Matt Antoszyk
Lead investors: Lightspeed Venture Partners and Brewer Lane Ventures, with participation from Afore Capital and Underscore Venture Capital
Insurtech Herald, which provides digital infrastructure provider for commercial insurance, raised $12 million in its Series A funding round. Herald’s platform simplifies the often cumbersome and manual processes involved in commercial insurance by integrating its unified API directly into brokers’ existing systems. This allows brokers to quote and bind insurance policies in real-time, improving efficiency and reducing the administrative burden. The funding will accelerate the development of Herald’s innovative API, which connects insurance brokers with carriers through AI-powered solutions.
“Our API gives brokers the flexibility to work within their preferred workflows, whether it’s in a CRM or a custom-built platform. This funding allows us to accelerate our mission of making broker-carrier connectivity more seamless, while expanding our capabilities to serve both sides of the market.”
Matt Antoszyk, CEO of Herald
