Top 10: Insurtechs in Canada

Canada has quietly built a credible insurtech ecosystem. From the glass towers of Bay Street to the tech corridors of Vancouver and Montreal, a new generation of founders is systematically dismantling a sector that has remained largely unchanged for decades. 

Backed by a maturing venture ecosystem, world-class engineering talent and a regulatory environment increasingly receptive to digital disruption, Canadian insurtechs are rewriting the playbook.

In this Top 10, we explore the leading players in the industry in Canada.

10. Foxquilt

Founded: 2016
HQ:  Toronto, ON
Services:  Small business insurance; embedded insurance platform

This Toronto-based startup is leading in one of insurance's most underserved markets: small and medium-sized businesses. 

Leveraging a proprietary data platform that aggregates thousands of risk signals, Foxquilt delivers hyper-personalised commercial insurance products at a speed that legacy brokers cannot match.

Its embedded insurance model is particularly forward-thinking, anticipating a world where insurance becomes invisible infrastructure. Foxquilt is a quiet achiever with serious ambitions.

9. Goose Insurance

Founded: 2017
HQ:  Vancouver, BC
Services:  On-demand travel, life & health insurance via mobile app

Based in Vancouver, Goose Insurance was among the first Canadian platforms to bet big on on-demand, app-native insurance. Goose built its reputation primarily through travel insurance, offering policies that could be switched on mid-trip via smartphone, but has since expanded into life and health products. 

The company's clean UX and frictionless purchase flow remain a genuine competitive advantages. Growing consumer comfort with mobile-first financial products, positions Goose for a larger role in Canada's evolving personal lines market.

8. IMS (Insurance & Mobility Solutions)

Founded: 1999
HQ:  Toronto, ON
Services:  Telematics, connected vehicle data, usage-based insurance solutions

IMS occupies an interesting position in the Canadian insurtech landscape. Specialising in telematics and mobility data, IMS provides the underlying infrastructure that enables usage-based insurance (UBI) programs for carriers and fleets globally. 

Its platforms ingest real-time driving behaviour data and transform it into actionable risk intelligence. As autonomous vehicles, electric fleets and mobility-as-a-service reshape how Canadians move, the demand for this kind of granular data will only intensify. 

7. Finaeo

Founded: 2016
HQ:  Toronto, ON
Services:  Digital brokerage platform; life & health insurance distribution

While much insurtech energy has focused on the consumer-facing layer, Finaeo has quietly built one of Canada's most compelling B2B offerings, a digital operating system for independent insurance advisors. 

The platform digitises the end-to-end advisory workflow, from client discovery and needs analysis through to product comparison, application submission and policy management. 

6. Zensurance

Founded: 2016
HQ:  Toronto, ON
Services:  Small business insurance brokerage; online commercial lines

Founded on the conviction that small business owners deserve the same frictionless insurance experience that consumers have come to expect in other financial services, Zensurance has built a digital brokerage that handles everything from general liability and professional indemnity to cyber and equipment coverages, all completely online in minutes. 

What distinguishes Zensurance is its commitment to genuine human support alongside digital efficiency. Licensed brokers remain available throughout the journey, addressing the trust deficit that pure robo-advice platforms often struggle with. 

5. APOLLO Insurance

Founded: 2018
HQ:  Vancouver, BC
Services:  Digital insurance exchange; personal and commercial lines online

APOLLO Insurance launched with a bold vison, to build a true digital insurance exchange – where consumers and businesses could access multiple carriers, compare products in real time and bind coverage instantly, all without ever speaking to a broker. 

The company has grown with velocity, onboarding an expanding roster of insurance carriers onto its exchange and extending its product breadth across personal and commercial lines. 

APOLLO's API-first architecture also makes it a compelling partner for embedded insurance use cases, enabling other digital platforms to offer coverage as part of their core user experience. 

4. PolicyMe

Founded: 2018
HQ:  Toronto, ON
Services:  Direct-to-consumer life insurance; term life underwriting platform

PolicyMe provides direct and disruptive offerings. Where traditional life insurers might take weeks to underwrite a policy through multiple medical exams and lengthy questionnaires, PolicyMe can deliver a decision in minutes for a significant proportion of applicants. 

The company has also invested heavily in consumer education, positioning itself as a trusted financial wellness brand rather than simply a transactional insurer. 

Co-founded by a team with deep insurance and technology credentials, PolicyMe has attracted serious venture backing and continues to expand its product suite. It is one of the most credible challengers to the established life insurance order in Canada.

3. Mojio

Founded: 2012
HQ:  Vancouver, BC
Services:  Connected vehicle platform; telematics data for insurers & OEMs

At its core, Mojio is a connected vehicle platform, it provides the data infrastructure that allows insurance companies, automotive manufacturers and fleet operators to unlock the intelligence inside modern cars. 

Its cloud-based telematics platform ingests real-time vehicle data and translates it into insights that power usage-based insurance programmes, predictive maintenance alerts, stolen vehicle recovery and a growing array of mobility services.

What gives Mojio its edge is the depth and breadth of its carrier relationships: it has secured partnerships with major telecoms and insurance groups across North America and Europe. 

As vehicles become ever more sophisticated data generators, Mojio's position as the trusted middleware between vehicle and insurer becomes increasingly strategic. 

2. League

Founded: 2014
HQ:  Toronto, ON
Services:  Health benefits platform; employer health & wellness technology

League occupies a category of its own in the Canadian insurtech ecosystem, having successfully pivoted from a consumer health benefits startup into a full-stack health technology platform serving some of the largest employers and insurance carriers in North America. 

The company's core product is a configurable health operating system that allows organisations to deliver personalised health and benefits experiences to their members at scale.

Rather than remaining a B2C benefits disruptor, it recognised that the far larger opportunity lay in providing the technology layer that powers incumbent insurers' own digital transformations. This B2B2C model, selling the platform to carriers and health organisations who deploy it to their members, has opened doors. 

1. Equisoft

Founded: 1994
HQ:  Montreal, QC
Services:  Digital transformation software for insurers & financial advisors

Founded in Montreal in 1994, decades before the term 'insurtech' entered the mainstream, Equisoft has spent three decades building the digital infrastructure that life insurance and wealth management companies depend upon to operate, grow and ultimately survive in a competitive landscape. 

Its suite of solutions spans policy administration systems, illustration software, CRM platforms and analytics tools, all purpose-built for the complex regulatory and product environments in which insurers operate. 

What makes Equisoft's ranking particularly compelling is not nostalgia for its heritage but its ongoing relevance, the company has successfully modernised its stack, expanded aggressively into North American and emerging markets. 

It has positioned itself as the trusted digital transformation partner for carriers navigating the most complex technology overhaul in the industry's history.