Companies in InsurTech
There are 8,092 companies in InsurTech which include ACKO, Alan, Lemonade, Digit Insurance, Sedgwick. 3,060 companies in InsurTech are funded, with 1,651 having secured Series A funding. Till date, the sector has seen the creation of 45 Unicorns. United States has the most number of companies in InsurTech (2,989), followed by United Kingdom
(890), and then India (549).
2024 has seen the creation of 31 InsurTech companies. On average, the last 10 years have seen 445 new companies launched every year. Most number of InsurTech startups have been founded by alumni from Stanford University, Harvard University and University of Pennsylvania.
Here is a List of top 10 companies in InsurTech

1. ACKO
Multi-category digital insurance and claim management solutions for individuals and businesses. Enables users to purchase, administer, and claim insurance. It provides insurance and quotes for automobiles, health, employees, group medical, third-party liability, electronic devices, and more. Offers solutions for vehicle paperwork management, claim processing, tracking of existing claims, pending challan information management, and more. Also provides micro insurance, insurance quotes, and savings solutions.
Key facts about ACKO
- Founded Year: 2016
- Location: Bengaluru (India)
- Stage: Series E
- Total Funding till date: $598M
- Investors: Accel, Ventureast and 40 Others
- Latest Funding Round: Series E, May 25, 2023, $137M
- Tracxn Score: 83/100 What is this?
- Competitors Rank: 1 of 39 Competitors

2. Alan
Alan provides an app-based health insurance platform for individuals and businesses. It offers multiple plans such as Alan Green for health care protection, Alan Blue for reimbursement on uncovered hospitals, Alan Pension for employees, and more. It offers policies for freelancers, businesses, hotels, restaurants, startups, and more. The app is available for Android and IOS platforms.
Key facts about Alan
- Founded Year: 2016
- Location: Paris (France)
- Stage: Series F
- Total Funding till date: $747M
- Investors: Index Ventures, Temasek and 18 Others
- Latest Funding Round: Series F, Sep 20, 2024, $193M
- Tracxn Score: 82/100 What is this?
- Competitors Rank: 1 of 9 Competitors
3. Lemonade
Provider of a cloud-based platform for life and P&C insurance. It offers quotes for renters insurance, condo insurance, pet insurance, homeowners insurance, and life insurance. It offers an artificial intelligence bot to craft insurance for users. The app is available for Android and iOS platforms.
Key facts about Lemonade
- Founded Year: 2015
- Location: New York City (United States)
- Stage: Public
- Total Funding till date: $644M
- Investors: Sequoia Capital, SoftBank Group and 50 Others
- Latest Funding Round: Series D, Jul 08, 2019, $175M
- Tracxn Score: 81/100 What is this?
- Competitors Rank: 1 of 30 Competitors
Provider of app-based insurance platform for individuals. The platform offers auto, health, travel, and flight delay insurance. Its features include a digital consultant tool to help pick the insurance coverage for the business and a home loan EMI calculator. It offers claims processing services. It offers solutions to agents to offer insurance services to customers.
Key facts about Digit Insurance
- Founded Year: 2016
- Location: Bengaluru (India)
- Stage: Public
- Total Funding till date: $467M
- Investors: Faering Capital, TVS Capital Funds and 30 Others
- Latest Funding Round: Series D, May 04, 2022, $54.5M
- Tracxn Score: 80/100 What is this?
- Competitors Rank: 2 of 14 Competitors
5. Sedgwick
Key facts about Sedgwick
- Founded Year: 1969
- Location: Memphis (United States)
- Stage: Acquired
- Total Funding till date: $2.63M
- Investors: The Carlyle Group, Stone Point Capital and 9 Others
- Latest Funding Round: PE, Sep 12, 2024
- Tracxn Score: 80/100 What is this?
- Competitors Rank: 1 of 238 Competitors
Cloud-based employee benefits administration solution. Its online benefits enrollment software, Benefitsolver, delivers a SaaS-based benefits administration solution that empowers employees to easily enroll based on eligibility that’s determined on the same platform. It also includes detailed analytics and reporting tools, COBRA administration, workflow, and communication toolset. It offers web-based tools for benefits billing and financial reporting to deliver reconciled bills that are easily reportable by division, location, carrier, and more.
Key facts about Businessolver
- Founded Year: 1998
- Location: West Des Moines (United States)
- Stage: Late Stage
- Total Funding till date: $65.2M
- Investors: Warburg Pincus, Stone Point Capital and 4 Others
- Latest Funding Round: PE, Dec 01, 2021
- Tracxn Score: 78/100 What is this?
- Competitors Rank: 1 of 535 Competitors
7. iPipeline
iPipeline provides cloud-based software suite for the life insurance and financial services industry. It offers solutions for CRM, insurance distribution and processing, insurance quoting, agency management, data services, policy management, and more. It provides solutions for document management, insurance underwriting, policy administration, sales & marketing, and more.
Key facts about iPipeline
- Founded Year: 1995
- Location: Exton (United States)
- Stage: Acquired
- Total Funding till date: $104M
- Investors: TCV, NewSpring and 4 Others
- Latest Funding Round: Series C, Jan 27, 2012, $71.4M
- Tracxn Score: 78/100 What is this?
- Competitors Rank: 1 of 38 Competitors
8. AXA
AXA is a global provider of life insurance, retirement, annuity products, and other insurance and wealth management products. Operates through four segments: Life & Savings, Property & Casualty, Asset Management, and Banking. Has 165K employees with 107M customers in 64 countries. In 2022, the company recorded annual revenues of $110.92B and a net profit of $6.83B.
Key facts about AXA
- Founded Year: 1859
- Location: Paris (France)
- Stage: Public
- Investors: ACE & Company, Rivean Capital and 6 Others
- Latest Funding Round: Grant (prize money), Jun 01, 2018, $120K
- Tracxn Score: 78/100 What is this?
- Competitors Rank: 1 of 113 Competitors
9. SquareTrade
SquareTrade is an independent warranty provider for consumer electronics and appliances. It doesn’t matter where you purchased your item, online auction or brick and mortar, the item is eligible for a SquareTrade warranty. This can be bought online with no hassles.
Key facts about SquareTrade
- Founded Year: 1999
- Location: San Francisco (United States)
- Stage: Acquired
- Total Funding till date: $247M
- Investors: Bain Capital Private Equity, Bain Capital Ventures and 11 Others
- Latest Funding Round: PE, Jan 25, 2012, $238M
- Tracxn Score: 80/100 What is this?
10. Coalition
Online property and casualty insurance platform for businesses. It provides coverage for error and omission and cyber insurance. It offers coverage for professional liability, computer replacement, lost business income, breach response costs, and more. It also features claims settlement services. It offers solutions for multiple industries including healthcare, retail, IT, legal, energy, and more.
Key facts about Coalition
- Founded Year: 2017
- Location: San Francisco (United States)
- Stage: Series F
- Total Funding till date: $770M
- Investors: Valor Equity Partners, Ribbit Capital and 15 Others
- Latest Funding Round: Series F, Jul 08, 2022, $250M
- Tracxn Score: 78/100 What is this?
- Competitors Rank: 1 of 36 Competitors
