From weather analytics to coverage for pets and bicycles, these Europe-based startups are shaping the future of the global insurance industry.
Europe is home to 10 of the world’s top 25 insurers (including Allianz and AXA) as well as its 4 largest reinsurers (including Munich Re and Swiss Re).
Startups in the region are emerging to deliver significant tech-driven changes across the insurance industry, and they are catching the eyes of investors. As of Q2’22, Europe-based insurtechs had collectively raised $7.1B since 2018 — more than any other major region outside of the United States.
The solutions that these insurtechs provide are heavily data-driven. For instance, London-based FloodFlash uses data from connected sensors to issue parametric flood insurance policies. Meanwhile, Austria-based Blackshark.ai uses artificial intelligence (AI) and satellite imagery to offer insurance companies a 3D digital twin of the Earth for risk analysis and modeling.
Others focus on connecting more of their individual and business customers to the insurance products they need. Brussels-based Qover enables merchants to add insurance products to their online marketplaces, while Paris-based +Simple offers coverage to small businesses and self-employed workers.
Using CB Insights data, we identified 115+ Europe-based startups looking to shape the future of the insurance industry.
This market map consists of private, active companies only and is not intended to be exhaustive of the space. Each company has raised at least $5M through July 2022. Categories are not mutually exclusive and companies are mapped according to primary focus area within insurance.
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