This article showcases our top picks for the best London based InsurTech companies. These startups and companies are taking a variety of approaches to innovating the InsurTech industry, but are all exceptional companies well worth a follow.
We tried to pick companies across the size spectrum from cutting edge startups to established brands.
We selected these startups and companies for exceptional performance in one of these categories:
- Innovative ideas
- Innovative route to market
- Innovative product
- Exceptional growth
- Exceptional growth strategy
- Societal impact
Top London InsurTech Companies
Zego is a commercial motor insurance provider that powers opportunities for businesses, from entire fleets of vehicles to self-employed drivers and riders. It combines best-in-class technology with sophisticated data sources to offer insurance products that save businesses time and money.
Since its inception, Zego has believed that the problem with traditional insurance is that it holds businesses back. It’s too expensive and time consuming, and it no longer suits businesses who use vehicles to earn money.
Zego’s products represent a solution to this problem for businesses based across the UK, Europe and beyond.. It delivers over two million vaccine doses per day to people living in over 160 countries.
The Consumer Healthcare business develops and markets an innovative portfolio of consumer preferred and expert-recommended brands in the Pain relief, Respiratory, Digestive health, Oral Health, Nutrition, and Skin health categories.. Determined to steer the growth of the AR industry and champion this new consumer behavior, Blippar acquired Layar in June 2014, a pioneering AR company founded in the late 2000s.
In June 2015, Blippar invested in smart specs company WaveOptics. WaveOptics is developing low-energy lenses that provide a live display for the wearer but can be fitted into ordinary spectacles frames..
Instanda is a SaaS insurance software platform that allows insurance companies to build, configure, and launch products online. Its no-code product design platform is built on a powerful set of insurance speciﬁc calculations, processing, and workﬂow capabilities.
Instanda works with the carriers, MGAs, and brokers in UK, Europe, US, Canada, LATAM and Australia converting the lethargic back office to an agile front office, freeing the industry from high-cost legacy systems. Founded in 2012, Instanda is headquartered in London, England..
Over the next few decades as many as 60,000 ships must transition from combustion of fossil fuels to zero-emission propulsion. The UN’s maritime agency IMO has mandated with unanimous approval from 174 countries that shipping must reduce emissions by 50% of the 2008 total, before 2050.
This means an actual emission reduction of almost 90%, by 2050. The m-MSR can achieve that goal alone, by producing green sustainable fuels for the smaller ships and powering the largest ships.
Zero emissions come as standard. The m-MSR is like an atomic battery pack.
The m-MSR is small, with few moving parts, it can be a third cheaper to run than a large fossil fuelled engine. It massively reduces waste, and is fuelled-for-life, avoiding proliferation of spent fuel.
Using big data and predictive analytics, Cazana analyses millions of automotive transactions daily to assess the value and risk associated with every vehicle on the road. Cazana’s systems are used by manufacturers, finance companies, dealerships, and insurers globally.
Companies use Cazana’s data to provide vehicles to the modern automotive consumer who wants to access, not own their vehicles.. In addition, 10% of their gas comes from biomethane.
That’s gas produced from organic matter like sewage and manure – which is then reinjected onto the grid (minus the smell).. .
Marshmallow is an insurtech. Being one of the only EU based insurtechs to own their own insurance company – they have total control of the entire value chain, from sign-up and pricing through to claims affording them the unrivalled ability to deliver an exceptional customer experience.
Operating in an archaic industry worth trillions of dollars Marshmallow started by doing car insurance in the UK but will offer multiple insurance products in multiple geographies – all driven by technology. They have raised around $50m to date from top tier investors..
Concirrus is a leading Insurtech specialising in transforming the future of risk selection, pricing and claims using the latest developments in data analytics, AI, machine learning, and digitalisation. Concirrus’ intelligence platform Quest, helps organisations improve loss ratios, reduce operational expense and access increased deal sizes, and new trading relationships.
By capturing and understanding customer behaviour, delivering data-rich insights at scale, underwriting teams are empowered to make rapid data-driven decisions. Over 20 market-leading companies including Marsh, Beazley, Hiscox, Chaucer and Willis Re trust Concirrus’ technology to power their risk making decisions.
Headquartered in London with international presence, Concirrus has a 100-strong team of experts that specialise in data analytics, AI and machine learning, as well as having a rich understanding of the global insurance market.. .
Superscript provides business insurance designed specifically to meet the fast-changing needs of small businesses. Underpinned by proprietary technology, expertise in emerging risks and threats, and partnerships with some of the world’s biggest underwriters, it delivers bespoke, subscription-based insurance cover for all types of risk.
Superscript shapes business protection around businesses’ individual needs, from essential cover through to complex risks. It delivers a personalised customer experience that supports the ever-evolving needs of small to medium-sized businesses.
Superscript was originally founded as Digital Risks in 2015 and is based in London, England.. .
By Miles offers fairer, more flexible car insurance for low mileage drivers. Aside from a fixed annual cost, each policy is paid by the mile so it’s totally tailored to you.
See every journey and use handy tools in their mobile app to make your driving life easier.. .
Urban Jungle is an insurance technology business based in the UK. Urban Jungle leverages technology to help young customers get access to cheaper, better, home insurance..
Their portfolio of over 135 licences spans 22 countries and is organised into three regions. They are headquartered in London and have a total workforce of approximately 2,000 people, with over 50% of these working in Their African operations.
Their shares are listed on the London, Irish and Ghanaian Stock Exchanges.. .
Hometree is a UK based Smart Home Services company, offering homeowners unparalleled peace of mind & control in the running of their home. We offer a range of products and services from Home Cover plans which protect homeowners against breakdowns in their heating, plumbing & electrics, to heating installations..
The technology is based on molten salt fuel in conventional fuel assemblies. Existing stockpiles of spent nuclear fuel can be used as the fuel source and the electricity produced is entirely flexible.
Harnessing a major scientific breakthrough and the latest technology, the company is developing radically better nuclear reactors to safely, cleanly and economically power the planet in the 21st century.. .
Quantemplate enables business users to take raw data sources, cleanse and harmonise them with tools powered by machine learning, then perform analysis to develop competitive advantage through proprietary insights. Leading insurance businesses use Quantemplate to grow their business, collapse their costs and enable digital transformation.
The company was recently named a European FinTech Top50 company and a Global InsurTech Top21.. .
Laka develops a peer to peer bicycle insurance platform to insure bicycles and cycling equipment against theft or damage. Laka’s solution provides actual coverage by a community of like-minded people who are collectively given a fair price that covers theft, vandalism, damage, and loss and provides recovery advice and treatments, enabling users with a cost-effective and fairer insurance product..
We connect people to sustainability and smart cities, creating powerful experiences which convert footsteps into off-grid energy, rich data and rewards. Our technology enables people to directly engage with clean energy, to increase their understanding of sustainability issues, and to connect purposefully with brands.
Technology alone won’t make cities perform more efficiently. It’s about changing behaviours.
Pavegen’s combination of physical interactivity and rich data is helping to bring smart cities to life. With over 150 installations worldwide including our recent arrays in Washington DC’s Dupont Circle, cities and brands are recognising the value of people power..
Flock was founded in 2015 on the conviction that insurance was no longer fit for purpose in our fast-moving, hyper-connected world. Their mission is to make the world a safer, smarter place by bridging the gap between the insurance industry of today and the emerging technologies of tomorrow.
The London based Insurtech began in the commercial drone industry where they launched Europe’s first pay-as-you-fly drone insurance product, using real-time data (like population density and wind speed) to quantify, insure, and mitigate drone flight risks.They now have insure thousands of innovative drone operations globally, from agricultural surveyors to NHS medical delivery flights. Flock’s technology has now helped thousands of pilots around the world to fly safer, reducing their risk exposure by 15% on average.
Flock recently expanded into the rapidly evolving world of commercial motor fleets with a division focused on connected vehicles. Modern fleets change on a daily basis; expanding, contracting, and adopting the latest technology.
They need an insurance policy that’s as agile and data-driven as they are. The world is becoming increasingly connected and autonomous, bringing both amazing opportunities and complex risks.
As the insurer of the future, Flock aims to not only pay claims when incidents occur; they help customers understand and mitigate their own risks, to avoid things going wrong in the first place.. .
Artificial Labs are building tools for insurers that allow them to operate faster, more efficiently and more accurately. These tools are built on top of a shared core, called ArtificialOS – which is a suite of powerful, API-driven building blocks, for insurers of all sizes.
Ranging from policy management through to AI-based automated claims, Artificial’s service-based architecture means they can very quickly combine these blocks and integrate applications to according to insurer requirements. Not only do insurers receive exactly what they need, but they can be happy in the knowledge that 24/7 support, infrastructure, security and upgrades are all included in the transactional-based pricing..
Stable is a risk management platform that helps businesses around the world protect themselves from untraded commodity price volatility derivatives market.. Limejump’s technology empowers businesses and generators to become active energy market participants, generate new revenue streams and contribute towards a greener energy future.
Limejump connects customers with National Grid’s demand response programmes where generators are paid to ramp up or ramp down their energy export and businesses are compensated to shift or reduce their energy usage to help restore grid balance.. .
We are Collective. We exist to expand the safety net for independent workers, so they feel secure and valued.
Right now, the people who care for our families, pack our produce and deliver our parcels face a fragile financial existence. And that’s not right.
We believe they deserve to live and work without compromise. So we’re doing something about it.
At Collective, we’re enabling companies with the right intentions to provide the right protections. Working directly with the on demand platforms propelling our economy forward.
Helping them ramp up recruitment and retention, increase engagement and protect their people. All at the same time.
Together, we’re making independent work, work for everyone. We’ve got backing from the people behind Deliveroo, Zoopla and Cazoo, and have been featured in The Economist, TechCrunch and The Times (to name a few).
Anorak offers a smart independent insurance adviser that gives people access to tailored advice about their life and their risks. Anorak is on a mission to building the world’s smartest insurance companion.
A new model for buying life insurance that enables all of us to make the right choice – not just the cheapest. A smart independent insurance adviser founded on trust and transparency.
To do this, the company uses data science and machine learning to power a service that gives people access to tailored advice about their life and their risks.. .
Brolly, a London-based start-up that specializes in flexible, personalized insurance products for the digital generation. Brolly offers a Policy Management platform that enabled customers to consolidate all of their insurance policies into a single dashboard, and a fully-digital contents insurance available on iOS and Android, enabling customers to cover their belongings straight from their smartphones..
Onzo is a company that brings technology and design talent together with commercial acumen to develop innovative and market leading products and services.. .
AkinovA has built an independent electronic marketplace for the transfer and trading of (re)insurance risks. Founded by experts from Insurance, Technology and Capital Markets, AkinovA is working with the existing (re)insurance value chain to help grow the overall market.
AkinovA is backed by an accomplished Advisory Board with a wealth of experience in Insurance, Capital Markets and Technology. Whilst remaining an independent marketplace, AkinovA is working with leading insurance industry participants, including Hiscox and MS&AD Insurance Group, as well as Plug and Play Insurtech, NYC based marketplace venture capitalist FJ Labs, Israel based InsurTech/FinTech venture capitalist FinTLV and other undisclosed investors.
For more information, please go to: www.AkinovA.com. .
Through the Monet cashflow platform, we’re giving the world’s 1 billion creators, freelancers and micro businesses the power to get paid instantly, manage their money and protect their business, whilst driving long-term financial inclusion. Monet’s risk-modelling engine is accurately risk-profiling creators who use Monet long before institutions, helping de-risk them for increased institutional/financial support.
We’re doing this deploying capital in a high liquidity, short-cycle, and untapped asset class – Future Revenue. Based in the heart of Notting Hill and on the Isle of Man.
Insurwave is a SaaS platform that connects insurance buyers, brokers, and sellers to transform the way specialty insurance and reinsurance are transacted. Insurwave uses leading cloud and cryptography technologies to reduce the distance between corporate risk and insurance capital.
Insurwave enables the elimination of tedious reconciliation, enables high data integrity and greater insight for insurance buyers, brokers, underwriters, and reinsurers of complex risk.. .
Dinghy is all about the freelancers and contractors; the developers, designers, and digital-pros that deserve better insurance.. The patented units can be combined with Combined Heat & Power units, Biogas Fuel Cell or Biogas boiler to use the gas.
The fertiliser is available in liquid or solid bagged format. The company is headquartered in London.
SEaB Energy has developed and patented Muckbuster® and Flexibuster™ as compact easy to install turnkey Anaerobic Digestion (AD) systems in shipping containers. The systems are modular, easily configured and scalable to address food waste and other bio wastes directly at the sites of smaller waste producers who typically generate between 200 and 1000 tonnes of waste per year.
Whether you are a farmer, a food processor, a retailer or you are in the catering and accommodation markets, Muckbuster® and Flexibuster™ can reduce your operational costs, enhance your sustainability and generate an attractive return on your investment.. .
Corax provides data, modelling and loss analytics on the cyber exposure of millions of interconnected companies worldwide. Corax delivers this via its scalable technology platform, rich and extensive dataset, and AI-enabled probabilistic modelling.
Corax is used by (re)insurance carriers to accurately underwrite and manage cyber risk exposure, and by insurance brokers and agents to provide clients with precise cyber risk assessment and cover recommendations.. Since 2011, Open Energi have connected over 3,500 assets at over 400 sites, working with leading businesses, utilities, developers and technology partners to deliver innovative solutions that are transforming how energy is supplied and consumed..
Imagine a world where insurance wasn’t run by insurance companies. Unbiased, personalised guidance, from people you trust.
Using your data to protect you and your family. A new revenue model that aligns our interests unequivocally with you, no more grubby commissions.
No more multiple, fragmented policies, rather a single, personalised account that covers each of the risks that matter most to you. Get one easy solution tailored to your needs.
Insurance as unique as you are.. .
Misinformation and advances in technology have made the ability to create fake photos & videos easier than ever. This makes process automation that relies on digital images unreliable as it can lead to wrong results and increases the opportunity for fraud.
Photocert’s technology ensures the credibility of the photos & videos and on top of them can perform valuable image analysis to seamlessly automate processes. Photocert focuses on the insurance sector and has built a modular product that can easily be adjusted to our customers’ needs.
We are able to deliver from a complete white label claim/onboarding platform to a camera API components that performs image certification. We currently have applications for content (onboarding including product valuation), motor (claims including damage estimation) and property (claims with a water leak estimation under development)..
Our enterprise SaaS platform offers 4 core tools. A planning tool using big data to help companies avoid weather risk across their portfolio.
An onsite app to provide hyperlocal and contextual weather warnings and to enable more accurate record keeping. A smart contract tool which currently automates the weather related clauses in standard construction contracts.
We are in the process of testing a parametric insurance tool to enable companies to transfer risk across their portfolio.. .
Konsileo is a commercial insurance broker using technology to empower individuals and replace hierarchical management with professional collaboration. Their technology disrupts the traditional broking model in two ways.
Firstly, it addresses the operational challenges of regulatory compliance, data capture and duplication with an intuitive platform that gives brokers back more time to spend winning and retaining clients. Secondly, Their technology underpins the creation of a community of modern brokers without hierarchy.
Brokers who support each other, share expertise, and are rewarded for working together.. .
Spixii is a leader in Conversational Process Automation (CPA) for customer-facing insurance processes. Spixii CPA combined white-labelled intelligent chatbots coupled with robust integrations via Spixii Connectivity Hub.
Spixii CPA platform enables continuous improvement thanks to Advanced Analytics communicated in Business Insights reports.. .
Tapoly on demand insurance
Tapoly “Insurance on Tap” offers on-demand insurance for freelancers, contractors and SMEs. It provides on demand insurance for freelancers, sole traders, contractors, home letters, equipment lenders and anyone else who is part of the sharing or gig economy.
It insures their lifestyle so they don’t have to worry and have more time to focus on doing what they love.. .
Kudo Insurance is an app that uses mobile phone telematics to monitor a user’s driving and create an individual score that can then be shared with a car insurer to obtain a discount. Driving information captured by the app could also be used as evidence in the event of a motor accident.
The company set out in 2017 to provide a central portal for drivers to prove how good they are and get better quotes from insurers who could pick the best ones, whilst giving consumers transparency and the tools to get better value.. .
BirdsEyeView is a B2B2C London based InsurTech operating as a Managing General Agent. Climate change-induced natural disasters are increasing in both frequency and severity.
By harnessing satellite imagery, big data, and advanced analytics, we look to revolutionise the global crop insurance market by providing our weather-risk protection.. .
RemitRadar services the needs of an emerging global community of 2.5bn people dependant on remittance services. RemitRadar aims to improve the lives of billions of people in developing countries by offering free financial education to end users.
RemitRadar provides Fintech and InsurTech technologies along with digital and offline distributions channels and services to its partners. RemitRadar has extensive data and knowledge of the remittance community and expertise in managing “big data” to improve the lives of that population.
RemitRadar processes over 800m requests per year to its services worldwide. RemitRadar has been set up with economic migrants in mind; one of its main aims according to its leadership team and advisory board which includes ex-MoneyGram CEO Iain Blackwood, Beat Candrian 25+ years of insurance and reinsurance experience (SwissRe, Helvetia), Simon Rufus Isaacs, Marquess of Reading former member of the London Stock Exchange, Major General Robin Searby – In 2010, became UK Prime Ministerʼs adviser on counter-terrorism for North Africa Company global ambassador: HRH Prince Michael of Kent.
We use science and data in our precision insurance solution, Rideshur to accurately price any road segment in real-time. We started with a simple idea: collect enough data from cars and figure out a way to monetise the asset.
It turns out that insurance was the problem worth solving, but Humn was born digital-native. Data first, then insurance, and this gives us a tremendous advantage over incumbents and other players.
What this means for us is a relentless drive to bring together the best talents in streaming data and machine learning with experienced operations and insurance folks to build a unique full-stack platform. We believe in this mission.
We’re all in. Are you with us?.
Celo is an app-based insurance provider designed to provide cheaper quotes, faster claims, and a pleasant user experience. They plan to offer insurance cover for motor vehicles, travel, health, and more.
Like Monzo and Starling who are disrupting banking, Celo plans to disrupt the insurance industry.. .
Fair priced car insurance for good drivers, regardless of age. Unlike traditional insurers who base prices on demographics, Rooster is different.
We base prices on how you actually drive. Just download the app, drive for 3 – 4 weeks & get a fair quote..
The company publishes [The Financial Times](http://www.crunchbase.com/organization/the-financial-times), an international daily business newspaper with five editions in the U.K., Continental Europe, the U.S., Asia-Pacific, and the Middle East; and operates FT.com which sells content and advertising online as well as publishes information about the retail, personal, and institutional finance industries. Pearson Education was founded in 1844 and is headquartered in London, the United Kingdom..
At PORTABL.co we are building a SaaS business and eco-system that provides portable insurance, portable benefits and portable savings products for those who live and work in the global freelance and gig based economies. Customer centric data and machine learning – Using real-time data and analytics we quickly understand and present to a new customer the optimum levels of cover and benefits best suited to them, the nature of their work and the stage of their life journey.
Monthly subscription bundle – Rather than the individual having to sign up for anything between 7-12 products or services they are simply able to take out a membership with PORTABL.co, pay a monthly subscription fee and benefit from having all of their unique requirements wrapped up into their personalised membership bundle. We take care of everything else for them.
Membership community – Membership of PORTABL.co also provides opportunities for incentives and rewards for good behaviours. We will recognise everything from referring work to other members through to adopting healthy habits.
PORTABL.co rewards these good behaviours by regularly reducing the member’s monthly subscription fee. Global Eco-system – We are the only business focused on building a global, e2e Insurance as a Service platform to serve and support the freelance, gig, contracting, business-of-one, portfolio lifestyle, independent worker (phew…
so many labels) economies.. .
Guardhog is an on-demand insurance solution supporting the Sharing Economy platforms and their members. They want to dramatically improve the way that insurance is distributed, discovered, and consumed.
They’re defined by their sense of urgency and dedication to innovation. GUARDHOG was created as a reaction to a gap in the market; traditional models of insurance simply don’t fit the sharing economy.
They know this gap will be filled so speed and strength of execution are vital. Their sense of urgency is simply a reflection of their understanding that the sharing economy is an ever-changing market.
They’re proud of the work they have already put into GUARDHOG, and while they take their work extremely seriously, they don’t take theirselves seriously.. .
Bewica makes cyber security beautifully simple. Our intuitive, award-winning SaaS platform makes it a breeze for small businesses, schools and charities to achieve and maintain core cyber security.
We work with insurers, banks, consultancies and other brilliant partners all working together to help small organisations protect themselves from growing cyber risks.. .
Founded in 2016, Blocksure’s aim is to transform the intermediated insurance industry by delivering benefits across the whole value chain: policyholder, agent, MGA, insurer and reinsurer. Blocksure OS went live in July 2018 and is the first blockchain platform application within the insurance domain on R3’s Corda.
It transforms the customer experience and delivers radical efficiency gains. Trusted records on the blockchain, complemented by real-time payments to all parties and no manual processing reduces back-office costs by up to 90%.
Blocksure OS is supported by a strong team of insurance experts and technologists, focused on solving real industry issues and based on the principles: Mobile, Once, Real-Time, and Safe. Blocksure is now involved with clients in the UK, Indonesia, US, Middle East, South East Asia and China.
The initial focus is on delivering microinsurance to the uninsured and commercial speciality schemes where it drastically reduces costs and provides major improvements in speed. Provides an outstanding mobile-first customer experience with quotes, purchases, and claims all administered digitally..
At CyStellar, they remotely detect risks, automatically classify objects from the risk point of view, and consistently monitor risks over time. The cumulated risk information feed is seamlessly integrated into the (re)insurers workflows and offers dazzling insights on almost any place on the globe and it is directly linked to the insurance policies.
Their solution improves profitability through more intelligent underwriting and quicker claims assessment. The CyStellar cloud-based platform seamlessly integrates between satellites, ground sensors and enterprise software, such that all the data is automatically collected, sent to the cloud, analyzed, and displayed in useful form, ideally in near–real time.
Their data acquisition process is driven by information extracted from millions of insurance policies, pre-matching individual policies (assets and risk factors) to satellite and aerial data sets defined by required resolution spectrum and frequency. In this way, CyStellar always integrates the best external data set at the lowest possible price while provides insurers with a completely integrated solution..
CREA is a fully Digital Managing General Agent, offering digitized insurance policies on a proprietary platform to intermediaries. The cloud-based software tool drastically simplifies and accelerates the insurance brokerage and underwriting process, eliminating various manual interactions and improving and accelerating the underwriting experience.
The efficacy of Coverholder’s services enables Carriers to access segments of the market that were previously not addressable and is enabling Micro Insurance. CREA’s White label solutions and API platform are widely used by individual agents and brokers as well as captive agent networks and support new Insurance distribution channels such as for instance Bankassurance..
If you live with house mates HURU can split your bills equally between each of you, and ensure that each house mate pays only for his/her portion. Using HURU means no more late payments, no more arguments with housemates about who pays what, and no more paper bills through the post!.
i2go is the worldwide solution for Insurance Companies, Underwriting Agencies, MGAs, Brokers and Banks. We simplify the launch of new innovative insurance products (e.g.
Telematics), opening new digital sales channels & increase the overall profitability with greater operational efficiency. Built to achieve the ultimate 360 insurance experience to realize the benefits of enhanced customer service, growth and flexibility..
Our mission at WeSee is to enable a safer society, by looking out for the good guys and helping catch the bad. WeSee pushes AI beyond facial recognition, detecting suspicious behaviour which we believe holds the key to our safety and security, at home and at work.
Pushing artificial intelligence beyond facial recognition, WeSee can analyse an individual’s emotions in real time from a variety of sources, including web and mobile cameras. It does this by using advanced deep learning artificial intelligence to monitor the various nuances of facial through eye-tracking (examining changes in pupil size, gaze direction and duration, and blink rate) combined with micro-expressions.
Of the many potential applications, the most imminent are in the fields of security, insurance claims and recruitment. But whatever the application, ultimately, WeSee has the potential to transform our personal and professional lives for the better..
Katalyst Financial Ltd.
We are industry experts in designing bespoke insurance solutions. Our offering is far from off the shelf – we work with our clients and partners to tailor products and distribution to their exact needs.
We look to use insurance products to help our partners build customer loyalty and enhance their core offering. In addition, we can of course provide more traditional insurance offerings where we specialise in large volume schemes..
You may write to us at: BestStartup.co.uk/Fupping Ltd, 349 Royal College Street, London, England, NW1 9QS.