The top 10 most innovative and disruptive Insurtech companies

Insurtech companies have been seeing an increase in the adoption of their services over the past two years, since the start of the global COVID-19 pandemic.

Firms operating in this disruptive innovation space are digital natives that are “equipped with a good technological infrastructure so that they can easily switch their operations to remote,” writes Christian Wiens, co-founder and CEO, GetSafe in Information Age.

Conversely, traditional insurers that have not adapted to going digital first, are under pressure. “Their sales are currently collapsing. A sudden switch to the digital world is often not possible. This is partly because the technology is lacking, but also because successful digital direct sales requires a different mindset,” he continued.

Here is our list of some Insurtech companies that are offering a variety of new, agile and flexible options to the traditional Insurance sector.

1. Zego

Zego built its core business around flexible policies catering for those in the gig economy, the self-employed and entrepreneurs.

The pay-as-you-go structure and effective tailoring of policies via an app, phone and web mean that accessibility and ease are key to its services.

Zego uses granular data streams to evaluate pricing levels to ensure it is at the right rates.

The startup continues to launch new products and expand into new countries. It offers a range of flexible motor, professional, and commercial insurance options.

2. QuanTemplate

QuanTemplate is a London-based company, established in 2011 by insurance experts. It utilises machine learning, big data transformation and analytics to help companies and professionals traverse digital transformation trends.

It offers a data integration, automation and analytics platform which enables insurance brokers and underwriters to understand market dynamics and is used by reinsurance, property and casualty and life insurers.

The insurtech business is supported by investors such as Anthemis Group, Route 66 Ventures Inc., Transamerica and Allianz.

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3. Wrisk

Wrisk aims to give the customer transparency and make the process of finding a policy as clear as possible. One innovation they have introduced is the Wrisk score which makes their customers aware of insurance risks in a simple format.

The company focuses on partnerships to provide its services, most notably being the insurance provider for BMW in the UK. Wrisk has also partnered with Allianz Automotive to provide insurance schemes across Europe.

Although focused on mobile apps to scale their business, leaders at Wrisk are looking to other platforms to streamline their services in the future.

4. Shift Technology

Shift Technology is a Paris-based tech firm that provides insurers with software-as-a-service (SaaS) centred around native AI solutions.

The software offers insurance firms protections from fraud, cyber attacks or hacks, particularly focused on fraud detection.

The company’s technology offers a rigorous backbone of security to insurance firms making sure financial or reputational damage doesn’t impact companies as insurance fraud networks become more sophisticated.

5. Neos

Founded in 2016 and part of the Sky Group, Neos deals primarily with smart home insurance, utilising smart devices to tap into the Internet of Things (IoT) so that customers get comprehensive protection.

The UK-based firm has 24/7 assistance which coupled with its smart sensors and indoor security cameras enable customers to validate claims and feel secure.

Multination insurer Aviva previously acquired a majority stake in the company in 2018, before selling to Sky in 2021.

6. Dinghy

Dinghy is a pay-by-the-second insurance provider who curates its policies, especially for freelancers and businesses.

This online and mobile-first approach allows users to switch their policies on and off as they need it.

Dinghy teamed up with ARAG, the legal expenses insurer and advisor. The two companies teamed up to create the ‘Freelance Assist’ combining their offerings, which meant that freelance legal professionals received the flexible coverage of Dinghy with the online resources and advice of ARAG.

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7. Next Insurance

An insurance quote provider aimed at small businesses and freelancers, Next Insurance offers tailor-made coverage powered by AI. Its coverage portfolio ranges from general liability and business insurance, to commercial auto and property insurance.

Founded in 2015 and based entirely online, Next Insurance claims to offer quotes in up to five minutes following a query, and provides customers with a live certificate for instant proof of insurance.

In April 2021, the company raised a $250 million funding round, bringing the insurance provider to a value of $4 billion.

8. CoVi Analytics

CoVi Analytics was founded in 2015 and is focused on reducing the cost of compliance for insurers. In order to do this, it offers two products: CMILE which allows financial service providers to learn about and manage regulations, on a platform that also allows companies to build community connections.

The second product, CORE, uses AI to simplify and automate reporting for ongoing compliance, which is constantly being updated and changed.

CoVi Analytics aims to make visualising compliance and introspective insights for businesses making them more efficient and more robust in the face of regulation.

9. Zipari

Zipari is an Insurtech that provides a customer experience platform in the health insurance segment. Ready-to-go solutions made available by the company consist of comprehensive sales experience for customer retention; collaborative provider experience for cultivating partnerships with health providers; and member experience, for value generation.

Founded in 2014, Zipari’s products cover customer relationship management (CRM) experience, digital experience, and CX orhestration. Practicing an API-first strategy, the platform is compatible with pre-built infrastructure.

10. ManyPets

ManyPets, formerly known as Bought By Many is a pet insurance company that started by focusing on social media comments, compiling them and providing better policies moulded around customer feedback.

It was the first pet insurance company to offer form-free online claims and places technology at the heart of its policy structure.

Its focus on consumer feedback particularly from social media offers new insight into how Insurtech companies could use data and comments as a base for tailoring policies.


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