Ferst Capital Partners (FCP) is a private investment firm which invests in venture capital, private equity, public markets, sector-focused funds and crypto assets. We have an interest and expertise in consumer fintech, digital assets and search funds.

Ferst Capital Partners - FCP

Portage Ventures is a global fintech-focused venture capital investor. The firm makes early-stage investments in promising Canadian financial tech companies that have potential for global impact.

Portage Ventures

The DMZ at Ryerson University is a business incubator for tech startups in Canada. It helps startups build businesses by connecting it with customers, capital, experts, and a community of entrepreneurs and influencers. This means creating an environment where people can focus on scaling businesses. The DMZ at Ryerson University was founded on 2010 and is headquartered in Toronto, Canada.

Aviva Canada Inc. is a Canadian property and casualty insurance company and a wholly owned subsidiary of the UK-based Aviva plc.

Aviva Canada

BMO Capital Markets is a full-service financial services provider offering a complete range of investment and corporate banking products and services. Its portfolio of services includes equity and debt underwriting, corporate lending and project financing, merger and acquisitions advisory services, securitization, treasury management, market risk management, debt and equity research, and institutional sales and trading. BMO Capital Markets is a member of BMO Financial Group, a diversified financial services provider in North America with 529 billion U.S. dollars in total assets and more than 47,000 employees.

BMO Capital Markets

Pre-Seed and Seed Stage Venture Investing We aim to lead the first institutional round for exceptional founders building highly scalable software platforms. We leverage our experience as founders and operators along with customer connections to accelerate the growth of our portfolio companies.

Fastbreak Ventures

Travelers is an insurance leader, committed to keeping pace with the ever-changing needs of their customers and anticipating their needs for the future. There is no stronger testament to their dedication to protecting customers from loss than their continued innovation and ability to transform their industry. In fact, from the first-ever auto and space travel policies and hybrid car discount, to the 2009 founding of The Travelers Institute for public policy, their history of advancements has propelled their company—and their industry—towards ever higher standards for customers. Travelers is a company that works hard at the science of what they do: they analyze information, process perspectives and measure results to create the best combination of products and services. They work equally hard at customer service and how they interact with the people whom they do business. Over the years, they've strived to earn their customer's loyalty by continually improving their abilities to listen and respond to their needs.

Travelers Insurance

Zensurance

Zensurance leading the technology revolution in the insurance industry, and demystifying insurance for start-ups and small businesses.  The company uses data and analytics to identify the most common risks so the company can able to create curated insurance packages ideally suited for each industry. Small business owners no longer have to wade through endless forms and play phone-tag. They can learn about all their needs and purchase at their own convenience within minutes online.  Zensurance works with the leading insurance companies and industry experts to build the most cutting edge insurance solution. Leveraging the latest innovations in user-experience design, and analytics.

<div>Toronto-based Zensurance is an online commercial insurance brokerage. The company provides a digital platform that enables small business owners, entrepreneurs, self-employed professionals, and independent contractors across various industries to purchase specialized insurance coverage within a few minutes. Zensurance's technology leverages data analytics to assess risks based on customer inputs and provide personalized insurance quotes from its network of over 50 insurance providers. The company claims it offers premium savings of up to 35% compared to traditional brokers.&nbsp;</div>

Simplifying the insurance experience for businesses using technology

InsurTech: Commercial Lines

Zensurance selected as preferred provider of business insurance by Amazon Canada

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 Toronto-based Zensurance is an online commercial insurance brokerage. The company provides a digital platform that enables small business owners, entrepreneurs, self-employed professionals, and independent contractors across various industries to purchase specialized insurance coverage within a few minutes. Zensurance's technology leverages data analytics to assess risks based on customer inputs and provide personalized insurance quotes from its network of over 50 insurance providers. The company claims it offers premium savings of up to 35% compared to traditional brokers.&nbsp;
 
 
 Zensurance offers a wide range of business insurance products, including commercial general liability, professional liability, cyber liability, commercial property, commercial auto, and fleet vehicle insurance.&nbsp;
 
 
 In February 2023, Zensurance expanded its commercial auto and fleet vehicle insurance options to Atlantic Canada, enabling businesses in that region to obtain affordable coverage online.
 
 
 
 
 Key customers and partnerships&nbsp;
 
 
 As of May 2024, the company served over 300,000 businesses.&nbsp;
 
 
 In August 2018, The Travelers Company, the third-largest corporate insurance underwriter in the US, acquired a 60% stake in Zensurance. This partnership allowed Zensurance to potentially scale its operations beyond Canada.&nbsp;
 
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Next Insurance provides digital insurance solutions tailored specifically for small businesses. The company’s product offering includes a range of insurance policies, including general liability, professional liability, commercial auto, and workers’ compensation. The company leverages AI and machine learning to streamline the insurance process, claiming to process policy requests within 10 seconds. It incorporates factors such as risk level, location, and other business-specific factors to provide policy proposals.&nbsp;In March 2021, Next Insurance acquired AP Intego, a digital agency specializing in small business commercial insurance. The acquisition was intended to expand Next Insurance’s reach to more customers in new business classes. In December 2020, the company acquired Juniper Labs, a startup that automates underwriting for sellers insurance to small businesses, to expand its product offering.&nbsp;In October 2024, the company launched standalone&nbsp;<a href="https://sp-edge.com/updates/34864">professional liability coverage</a> for consultants, offering protection against risks such as errors and omissions, personal injury, and property damage. The coverage can be customized with options for extended reporting periods and prior acts coverage.Key customers and partnershipsAs of November 2023, Next Insurance reported around 500,000 active policyholders, spanning a diverse base of small businesses across various industries, from construction and retail to professional services and fitness.In March 2021, Next Insurance partnered with Amazon to offer insurance solutions to Amazon Prime Business members, providing tailored insurance coverage through the platform​​.&nbsp;In September 2023, Next Insurance partnered with Bold Penguin, an integrated digital solution platform that offers commercial insurance. Through this collaboration, independent insurance agents can access Next Insurance's tailored policies for small businesses, expanding the company's distribution channels.In November 2023, Next Insurance partnered with Allstate and Allianz X. The partnership with Allstate provided Next Insurance’s products to Allstate’s customers and collaborated on developing a new product for commercial auto insurance. The collaboration with Allianz X aimed to strengthen Next Insurance’s reinsurance relationship with Allianz X.In March 2024, it partnered with Tensorflight, a property intelligence platform, to leverage Tensorflight’s property data and risk models to enhance Next Insurance’s underwriting process.&nbsp;

Next Insurance

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 Pie Insurance primarily provides workers' compensation to small businesses via an online platform. Pie Insurance uses data and analytics to offer tailored and cost-effective coverage. In addition, Pie Insurance offers commercial auto insurance and a range of supplementary services and products. These include a solution that combines workers' compensation with payroll processing, risk reduction programs, and employer-extended coverages. The company also provides access to an online library of safety training modules and a return-to-work program to facilitate the recovery and reintegration of injured employees.&nbsp;
 
 
 By May 2022, the company had increased its annualized run-rate premium to nearly USD 300 million.
 
 
 In 2023, Pie Insurance transitioned from a managing general agent to a full-stack insurance carrier after it acquired American Insurance Company.&nbsp;
 
 
 Key customers and partnerships&nbsp;
 
 
 Pie Insurance primarily serves small businesses across various sectors, including construction, healthcare, and retail. The company provides its insurance products directly and through partnerships with local, regional, and national insurance agencies. In 
 <a href="https://sp-edge.com/updates/31431">
 July 2024
 </a>
 , the company partnered with Ford to launch a usage-based offering as part of the &quot;Ford Pro Insure&quot; program, a commercial auto insurance solution designed for Ford Pro vehicle fleets.
 
 
 
 As of September 2022, the company had partnered with over 2,800 agencies nationwide. As of May 2024, Pie Insurance has expanded its coverage to 38 states and the District of Columbia.
 
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Pie Insurance

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 Embroker offers a range of insurance products, including directors and officers insurance, employment practices liability, cyber, professional liability, and more. Its digital platform allows businesses to obtain quotes, manage policies, and handle claims online. The company uses predictive, data-driven underwriting models to automate underwriting and improve the accuracy of risk assessment. It claims that its algorithmic-based risk management reduces premiums for businesses by up to 20%.&nbsp;
 
 
 
 
 
 Key customers and partnerships&nbsp;
 
 
 Embroker specifically catered to funded startups, tech companies, law firms, and consultants and served over 40,000 customers as of May 2024.&nbsp;
 
 
 In July 2023, the company announced strategic partnerships with Dashlane, a security-first password management provider, and Cowbell, a cyber insurance provider for SMEs. Embroker aimed to enhance customer security using Dashlane&rsquo;s cyber protection services and expand its cyber liability offering by providing Cowbell Cyber Insurance to existing and prospective customers.&nbsp;
 
 
 In November 2023, the company entered into a strategic partnership with Ascend, a provider of financial operations automation software for insurers. Through this partnership, Embroker aimed to leverage Ascend&rsquo;s technological capabilities to improve operational efficiency and optimize its risk management process.
 
 
 
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Embroker

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 Foresight Commercial Insurance (Foresight) focuses on providing workers' compensation insurance specifically designed for safety-critical industries, such as construction, manufacturing, agriculture, and landscaping. The company&rsquo;s approach leverages data-informed underwriting and safety engagement tools to offer tailored insurance solutions​. Foresight claims to differentiate itself through its proprietary safety technology platform, Safesite, which aims to reduce workplace incidents by promoting a culture of safety and proactive risk management. Through this, the company claims to have reduced claims frequency by 17% on average as of August 2023.&nbsp;
 
 
 Key customers and partnerships&nbsp;
 
 
 Foresight serves a range of mid-sized businesses, particularly those in high-risk industries.&nbsp;
 
 
 In July 2023, Foresight partnered with CLARA Analytics, a leading AI platform for claims optimization, to implement CLARA's Triage module. This integration allowed Foresight to proactively manage claims, accelerate claim cycles, and collaborate effectively with third-party administrators (TPAs) in the event of workplace injuries.
 
 
 In November 2023, the company entered into a strategic partnership with QBE North America, allowing Foresight to write policies on QBE's paper, thus extending its reach and capacity and allowing the company to expand into new product lines. 
 
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Foresight Commercial Insurance

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 INSHUR is a digital insurance provider offering vehicle insurance coverage for on-demand drivers such as Uber and delivery drivers across the US, UK, and the Netherlands. It also provides insurance for TLC (Taxi &amp; Limousine Commission) in the US and private-hire drivers. The company's platform allows drivers to quote, purchase, and renew their policies entirely online through INSHUR's website or mobile app, eliminating the need for paperwork or lengthy phone calls. The company's proprietary data modeling technology enables dynamic real-time pricing and personalized insurance solutions for on-demand drivers. INSHUR's insurance offerings are tailored specifically for the on-demand economy, providing flexible coverage options that adapt to drivers' lifestyles and driving habits.&nbsp;
 
 
 In April 2023, INSHUR acquired American Business Insurance Services (ABI) for an undisclosed amount as part of its growth strategy to expand and scale its operations in the US. The acquisition resulted in INSHUR gaining immediate access to over 50,000 commercial vehicles across all 50 states.&nbsp;
 
 
 
 
 Key customers and partnerships&nbsp;
 
 
 In 2017, INSHUR entered a capacity agreement with Munich Re and introduced INSHUR 2.0, which is a completely digital insurance product for mobile devices, enabling users to obtain quotes and purchase insurance seamlessly.
 
 
 INSHUR established strategic partnerships with industry leaders such as Uber, expanding its on-demand insurance offerings to support livery drivers in key markets like Arizona, following successful deployments in New York City.
 
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INSHUR

Startups that offer insurance covering financial losses from claims of injury or damage caused by the business’s actions or products, including general, product, and professional liability.

Startups offering auto insurance and usage-based insurance products specifically tailored for businesses, including fleet operators.

Startups that provide coverage to protect physical property, including business buildings, inventory, and contents.

Startups that provide coverage for medical expenses and lost wages incurred by employees injured or falling ill while on the job.

Startups offering insurance covering lost income and additional expenses incurred when a business is unable to operate due to covered perils such as fire, natural disasters, or other disruptions.

Companies in the turnkey and value chain infrastructure segments operate under a B2B SaaS

Infrastructure segments provide AI/ML-based products for carriers to use

Zensurance

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