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Commercial Insurtech

Simplifying the insurance experience for businesses using technology

Overview

Commercial Insurtech refers to insurance services for enterprises offered through digital channels and the enabling infrastructure. These include general liability insurance along with products that leverage new ways of pricing policies such as usage-based insurance (for vehicle fleets) and data-driven insurance for commercial properties.

Needs around convenience and personalization, which have driven demand for insurance in the personal lines segment, are also being seen in the commercial insurance space. Most of these insurance products (especially those in the general insurance segment) are catered toward small businesses and freelancers, enabling the streamlining of the purchasing of commercial insurance, which traditionally has been a very manual exercise. Infrastructure providers offer turnkey platforms and APIs for insurers and other businesses to develop and launch their own insurance offerings with other specific solutions also available to digitalize certain aspects of the value chain such as underwriting and claims.

Note: Currently, we do not actively cover this industry, but we have identified it as a potential industry to add to our coverage.

More details

Market Mapping


Incumbents
Growth
Early
Seed
Pre-Seed
Business insurance platforms
?
Commercial auto insurance
?
Commercial property insurance
?
Turnkey infrastructure
?
Value chain infrastructure
?
Groundspeed
Groundspeed
Groundspeed
Groundspeed
Groundspeed
Liberty Mutual
Allianz
AXA
Aon
Nationwide
Progressive
Chubb
AIG
State Farm
The Hartford
Amazon
Next Insurance
Pie Insurance
Newfront Insurance
Embroker
Thimble
Arch Insurance
Ascendant
Insurance Canopy
Foresight Commercial Insurance
Superscript
Huckleberry
Insify
Layr
FINLEX
Bunker
NOW Insurance Services Inc.
Helvengo
Wetterheld
StartSure
Sustema
Brisk
Liberty Mutual
Allianz
AXA
Aon
Nationwide
Progressive
Chubb
AIG
State Farm
The Hartford
Next Insurance
Zego
Nauto
INSHUR
Zendrive
High Definition Vehicle Insurance
Nirvana Insurance
Liberty Mutual
Allianz
AXA
Aon
Nationwide
Progressive
Chubb
AIG
State Farm
The Hartford
Next Insurance
Honeycomb Insurance
Coterie Insurance
Slice Labs
Boost Insurance
Kalepa
Bambi Dynamic
Surefyre
Nexar
CAPE Analytics
Cytora
Groundspeed Analytics
Planck
Sayata
CLARA Analytics
Humn.ai

The Disruptors


Business insurance platforms

?

Disruptors

?
Funding in USD Millions
Next Insurance
881
Pie Insurance
621
Newfront Insurance
310
Embroker
142
Foresight Commercial Insurance
58
Thimble
29
Superscript
24
Huckleberry
22
Insify
20
Layr
16
Arch Insurance
Unknown
Watchlist
?
FINLEX
Bunker
Helvengo
NOW Insurance Services Inc.
Wetterheld
StartSure
Sustema
Brisk
Ascendant
Insurance Canopy

Commercial auto insurance

?

Disruptors

?
Funding in USD Millions
Next Insurance
881
Zego
202
Nauto
174
Zendrive
57
High Definition Vehicle Insurance
49
INSHUR
37
Nirvana Insurance
25

Commercial property insurance

?

Disruptors

?
Funding in USD Millions
Next Insurance
881
Honeycomb Insurance
19

Turnkey infrastructure

?

Disruptors

?
Funding in USD Millions
Coterie Insurance
70
Boost Insurance
37
Slice Labs
36
Kalepa
14
Watchlist
?
Bambi Dynamic
Surefyre

Value chain infrastructure

?

Disruptors

?
Funding in USD Millions
Nexar
150
CAPE Analytics
75
Planck
71
Sayata
59
Cytora
41
CLARA Analytics
37
Groundspeed Analytics
32
Humn.ai
23

Next Insurance

Next Insurance is an online-based insurance company for entrepreneurs and small businesses. The company's services feature claims investigation as soon as possible, with many being decision within 48 hours that helps its clients to get transparency. They use technology to eliminate agents and other expensive extras and give prices that are incredibly affordable. It also offers policies to a range of small businesses from general contractors to personal trainers. Next Insurance was founded in 2016 and is headquartered in Palo Alto, California..

Segment:
Business insurance platforms
Total funding:
USD 881.0 million
Disruptor Funding History

Business insurance platforms:

Next Insurance
Pie Insurance
Newfront Insurance
Embroker
Foresight Commercial Insurance
Thimble
Superscript
Huckleberry
Insify
Layr
FINLEX
Bunker
Helvengo
NOW Insurance Services Inc.
Wetterheld
StartSure

Commercial auto insurance:

Next Insurance
Zego
Nauto
Zendrive
High Definition Vehicle Insurance
INSHUR
Nirvana Insurance

Commercial property insurance:

Next Insurance
Honeycomb Insurance

Notable Investors


No investor data is available

Funding data are powered by Crunchbase
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