Top 10 insurtechs based in continental Europe

Insurtechs are a force to be reckoned with in Europe. We've listed the top 10 companies driving change in digital insurance

1# Wefox Group (Switzerland)

CEO: Julian Teicke

Wefox Group is a Switzerland-based insurtech company founded in 2014. It provides insurance products and services to customers through its platform, which connects insurance companies, customers, and insurance brokers. Wefox Group operates in several European countries, including Germany, Austria, Italy, and Spain.

The company offers various insurance products, such as car insurance, home insurance, and health insurance, and allows customers to compare and purchase insurance policies from multiple insurance companies. Wefox Group also provides digital services, such as claims management, policy management, and telematics services, to make the insurance process more convenient and accessible for customers.

Wefox Group has received significant funding from venture capital firms and has grown rapidly since its inception. The company aims to revolutionie the insurance industry by providing innovative and customer-centric insurance solutions.

#2 Clark (Germany)

CEO: Dr Christopher Oster

Clark is a German insurtech company that provides an online platform for insurance products and services. The company was founded in 2015 and is based in Berlin, Germany.

Clark offers a range of insurance products, including life insurance, health insurance, and pension plans. The platform allows customers to compare and purchase insurance policies from multiple insurance providers, making it easier for them to find the best coverage for their needs.

Clark also provides digital services, such as policy management, claims management, and telematics services. This allows customers to easily manage their insurance policies and make claims through the platform, making the insurance process more convenient and efficient.

The company has received significant funding from venture capital firms and has experienced rapid growth since its inception. Clark aims to disrupt the traditional insurance industry by providing innovative and customer-centric insurance solutions.

#3 Alan (France)

CEO: Jean-Charles Samuelian-Werve

Alan is a French insurtech company that provides digital insurance solutions for businesses and individuals. The company was founded in 2016 and is based in Paris, France.

Alan offers a range of insurance products, including health insurance, personal accident insurance, and liability insurance. The platform provides customers with an easy and transparent way to purchase insurance policies, compare coverage and prices, and manage their insurance needs.

In addition to insurance products, Alan also provides digital services, such as policy management, claims management, and telematics services. This allows customers to easily manage their insurance policies and make claims through the platform, making the insurance process more convenient and efficient.

The company has received significant funding from venture capital firms and has experienced rapid growth since its inception. Alan aims to disrupt the traditional insurance industry by providing innovative and customer-centric insurance solutions.

#4 Zego (UK)

CEO: Sten Saar

London-based Zego's platform enables customers to purchase insurance policies by the hour, day, week, or month, depending on their specific needs. The company's usage-based model allows customers to pay only for the insurance they need, making it more affordable and accessible to those in the gig economy. Founded in 2016, Zego offers a range of insurance products, including commercial motor insurance, public liability insurance, and personal accident insurance, as well as additional products such as breakdown cover and equipment protection.

One of the key features of Zego's platform is its ability to integrate with on-demand and ride-hailing platforms such as Uber, Deliveroo, and Amazon Flex. By integrating with these platforms, Zego can offer insurance policies that are tailored to the specific needs of gig workers, such as coverage for multiple delivery services, and the ability to pause and resume coverage as needed.

Zego has raised over US$201mn in funding to date, and has expanded its operations to several European countries, including Spain, Italy, and France. The company has been recognised for its innovative approach to insurance, and has won several awards, including the Insurtech Innovation Award and the Insurance Times Tech & Innovation Award.

#5 Coverfy (Spain)

CEO: Vicente Arias

Coverfy is a Barcelona-based insurtech that provides a digital platform that allows customers to manage all of their insurance policies in one place. The platform also offers a comparison service, enabling customers to compare and purchase insurance policies from multiple providers, as well as personalized recommendations based on the customer's needs and profile.

Coverfy's platform is powered by artificial intelligence and machine learning, which enables the company to provide a more personalized and tailored customer experience. The platform also offers features such as automated claims management, document storage, and real-time alerts, making it easier for customers to manage their insurance policies.

Coverfy was founded in 2015 and has since raised over €16 million in funding. The company has partnerships with some of the largest insurance providers in Spain, and has been recognized for its innovative approach to insurance, winning awards such as the BBVA Open Talent Award and the South Summit Startup Competition.


#6 Many Pets (UK)

CEO: Steven Mendel

Launched in 2012, Many Pets, formerly know as Bought by Many,  enables customers to purchase insurance policies that are designed specifically for their needs, such as pet insurance for rare breeds, travel insurance for individuals with pre-existing medical conditions, or home insurance for individuals with high-value possessions. The company uses data analytics and machine learning to identify and understand the unique needs of its customers, and to create more personalised and relevant insurance products.

One of the key features of Many Pet's platform is its ability to negotiate better insurance rates and terms with insurers on behalf of its customers. By using the collective buying power of its customers, Bought By Many is able to secure better rates and more comprehensive coverage than what is available in the market.

Many Pets has expanded its operations to several European countries, including Sweden, Denmark, and Spain. The company has won several awards for its innovative approach to insurance, including the Insurance Times Tech & Innovation Award and the British Insurance Awards.


#7 INZMO (Germany)

CEO: Meeri Savolainen

INZMO is a digital platform for purchasing and managing insurance policies and originally started out as a fintech offering rental solutions in the expensive Berlin property market. The company was founded in 2016 and has since become one of the fastest-growing insurtechs in Germany, with a focus on creating a more convenient and personalised insurance experience for its customers.

INZMO's platform enables customers to purchase and manage insurance policies entirely through their mobile devices, offering coverage for a range of products including car, home, and liability insurance. The company uses artificial intelligence and machine learning to personalize insurance recommendations based on the customer's needs and profile, making it easier for customers to find the right coverage at the right price.

One of the key features of INZMO's platform is its real-time claims processing system. The platform uses machine learning to automatically process and approve claims, which can be filed directly through the app, significantly reducing the time and effort required for customers to file a claim.


#8 Veygo (UK)

CEO: James Armstrong

Launched in 2017 by Admiral Insurance, Veygo offers a range of insurance products, including temporary car insurance, learner driver insurance, and insurance for drivers who use a car for work purposes. The platform makes it easy for drivers to purchase insurance policies, compare coverage and prices, and manage their insurance needs.

In addition to insurance products, Veygo also provides digital services, such as policy management, claims management, and telematics services. This allows drivers to easily manage their insurance policies and make claims through the platform, making the insurance process more convenient and efficient.

The company has received significant funding from venture capital firms and has experienced rapid growth since its inception. They insurtech aims to disrupt the traditional insurance industry by providing innovative and customer-centric insurance solutions for drivers.


#9 Ondo InsurTech Plc (UK)

CEO: Craig Foster

Ondo originally launched in 2016 under the brand name LeakBot - which characterised the IoT sensor device created by the LeakBot team, in a bid to tackle the issue of water damage caused by leaks within private homes and commercial properties. 

According to the Association of British Insurers, water damage is now the biggest driver of home insurance claims in the UK, often causing huge disruption and damage for customers who may spot them too late.

Currently, Ondo is partnered with nine blue-chip insurers including Hiscox, Direct Line, and TopDanmark across the UK, Ireland, US, and Scandinavia with upwards of 39,000 devices supplied to insurers. It has raised £3.4mn through fundraising at 12p per share and will have a market capitalisation (at the issue price) of approximately £8.2mn. 


#10 Coincover (UK)

CEO: David Janczewski

Coincover is a UK-based cryptocurrency insurance and security company that offers protection for individuals and businesses that hold digital assets, such as Bitcoin, Ethereum, and other cryptocurrencies. The insurtech's aim is to provide peace of mind to cryptocurrency investors by ensuring that their digital assets are protected against loss, theft, or damage.

Services include insurance coverage, wallet monitoring, and disaster recovery solutions. With insurance coverage, Coincover offers protection against losses due to theft, hacking, fraud, and other forms of cybercrime. In the event of a loss, the company's claims process is designed to be simple and fast, so that customers can quickly recover their losses.

Coincover also offers a wallet monitoring service that tracks the movements of cryptocurrency holdings in real-time, providing alerts and notifications to customers if any suspicious activity is detected. This helps customers to quickly identify and respond to potential threats to their digital assets.

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