What are the most valued startups in the InsurTech market?

Last updated: 13 July 2026

A constantly refreshed list of the world’s most valuable InsurTech startups, ranked by valuation.

market research pitch 2026

In our updated market reports, you will find everything you need

The InsurTech market includes digital insurers, insurance marketplaces, underwriting platforms, claims software, pricing tools and embedded insurance infrastructure.

This ranking compares public companies, private startups and acquired businesses using their latest reported or estimated valuations.

We update this InsurTech startup list every month to reflect new funding rounds, acquisitions, public market movements and operating data.

A quick summary table

Metric Value
Most valuable InsurTech startup Oscar Health, $10.2B
Second most valuable InsurTech startup Policybazaar, $7.9B
Median InsurTech valuation Approximately $335M
Share of InsurTech value captured by top 10 Approximately 58%
Top InsurTech valuation vs. median Approximately 30 times higher
Median valuation-to-capital-raised ratio Approximately 3.1x
InsurTech startups valued at $1B+ 17

Top startups in the InsurTech market ranked by valuation

Here is an updated table that ranks the top startups in the InsurTech market based on their latest reported or estimated valuations.

# Startup Name What They Do Current Valuation ($) Valuation Confidence Level Valuation Type Evidence Status Total Funding ($) Funding Confidence Level
1 Oscar Health Digital health insurance plans $10.2B Full Confidence Public Market Cap Observed $3.1B Strong Confidence
2 Policybazaar Online insurance comparison marketplace $7.9B Full Confidence Public Market Cap Observed $942M Partial Confidence
3 Alan Digital health insurance platform $6.3B Full Confidence Announced Private Round Valuation Observed $1.3B Partial Confidence
4 Lemonade AI-powered consumer insurance $5.3B Full Confidence Public Market Cap Observed $1.3B Strong Confidence
5 Coalition Cyber insurance and security $4.5B–$5.5B Strong Confidence Announced Private Round Valuation Estimated $800M Strong Confidence
6 Digit Insurance Digital general insurance carrier $3.1B Full Confidence Public Market Cap Observed $462M Strong Confidence
7 NEXT Insurance Small-business insurance platform $2.6B Full Confidence Acquisition Value Observed $1.1B Full Confidence
8 Pie Insurance Workers’ compensation for small businesses $1.8B–$2.8B Partial Confidence Implied Valuation from Raise Implied $621M Strong Confidence
9 Acko Digital-first Indian insurer $2.0B–$2.5B Partial Confidence IPO or Listing Range Valuation Estimated $422M Partial Confidence
10 Marshmallow Inclusive digital car insurance $1.8B–$2.3B Strong Confidence Announced Private Round Valuation Observed $161M Strong Confidence
11 bolttech Embedded insurance marketplace $1.9B–$2.2B Strong Confidence Announced Private Round Valuation Observed $553M Full Confidence
12 ZhongAn Online Chinese property insurer $2.0B Full Confidence Public Market Cap Observed $2.9B Strong Confidence
13 Nirvana Insurance AI commercial fleet insurance $1.5B Full Confidence Announced Private Round Valuation Observed $262M Strong Confidence
14 At-Bay Cyber insurance and risk security $1.2B–$1.5B Strong Confidence Comparables-Based Estimate Estimated $292M Strong Confidence
15 Newfront Technology-enabled commercial insurance brokerage $1.3B Full Confidence Acquisition Value Observed $310M Strong Confidence
16 Root Insurance Telematics auto insurance $1.1B Full Confidence Public Market Cap Observed $1.2B Partial Confidence
17 Branch Insurance Bundled home and auto insurance $900M–$1.1B Strong Confidence Announced Private Round Valuation Estimated $281M Strong Confidence
18 Openly Premium homeowners insurance platform $850M–$1.1B Partial Confidence Revenue or ARR Multiple Estimate Estimated $361M Strong Confidence
19 Ethos Digital life insurance distribution $905M Full Confidence Public Market Cap Observed $407M Strong Confidence
20 Reserv AI-native insurance claims administrator $800M–$1.0B Strong Confidence Implied Valuation from Raise Implied $53M Full Confidence
21 Shift Technology AI insurance fraud detection $800M–$1.0B Strong Confidence Comparables-Based Estimate Estimated $320M Strong Confidence
22 Bestow Life insurance infrastructure platform $800M–$1.0B Strong Confidence Implied Valuation from Raise Implied $259M Strong Confidence
23 Descartes Underwriting Parametric climate risk insurance $800M–$1.0B Partial Confidence Implied Valuation from Raise Implied $141M Strong Confidence
24 Tractable AI-powered damage assessment $800M–$1.0B Partial Confidence Comparables-Based Estimate Estimated $185M Full Confidence
25 Cover Genius Global embedded insurance platform $750M–$950M Partial Confidence Revenue or ARR Multiple Estimate Estimated $245M Partial Confidence
26 The Zebra Consumer insurance comparison marketplace $650M–$850M Partial Confidence Revenue or ARR Multiple Estimate Estimated $252M Partial Confidence
27 EvolutionIQ AI guidance for injury claims $730M Full Confidence Acquisition Value Observed $60M Partial Confidence
28 Resilience Cyber risk insurance platform $600M–$900M Partial Confidence Implied Valuation from Raise Estimated $217M Strong Confidence
29 Extend Embedded product protection platform $550M–$800M Partial Confidence Revenue or ARR Multiple Estimate Estimated $333M Partial Confidence
30 Ledgebrook E&S insurance underwriting platform $500M–$700M Strong Confidence Implied Valuation from Raise Implied $110M Partial Confidence
31 Vouch Insurance Business insurance for startups $450M–$600M Partial Confidence Comparables-Based Estimate Estimated $185M Strong Confidence
32 Roojai Direct digital motor insurer $400M–$600M Strong Confidence Implied Valuation from Raise Implied $119M Strong Confidence
33 Earnix Insurance pricing decision software $400M–$600M Partial Confidence Revenue or ARR Multiple Estimate Estimated $98M Strong Confidence
34 Akur8 Automated insurance pricing software $380M–$480M Strong Confidence Announced Private Round Valuation Estimated $180M Strong Confidence
35 Corvus Insurance Cyber insurance underwriting platform $435M Full Confidence Acquisition Value Observed $146M Strong Confidence
36 Counterpart AI specialty business insurance $350M–$500M Strong Confidence Implied Valuation from Raise Implied $106M Partial Confidence
37 Carrot General Insurance Korean digital auto insurer $350M–$420M Partial Confidence Acquisition Value Implied $226M Partial Confidence
38 Bowtie Hong Kong virtual health insurer $320M–$450M Strong Confidence Revenue or ARR Multiple Estimate Estimated $158M Strong Confidence
39 Cowbell SME cyber insurance platform $320M–$400M Strong Confidence Announced Private Round Valuation Estimated $183M Partial Confidence
40 Cover Whale Connected commercial trucking insurance $300M–$450M Strong Confidence Revenue or ARR Multiple Estimate Estimated $83M Partial Confidence
41 Igloo Southeast Asian embedded insurance $300M–$370M Partial Confidence Comparables-Based Estimate Estimated $105M Partial Confidence
42 Embroker Digital commercial insurance brokerage $300M–$450M Partial Confidence Revenue or ARR Multiple Estimate Estimated $142M Full Confidence
43 hyperexponential Insurance pricing decision software $310M–$430M Strong Confidence Revenue or ARR Multiple Estimate Estimated $91M Full Confidence
44 Qoala Southeast Asian insurance marketplace $280M–$380M Partial Confidence Implied Valuation from Raise Implied $134M Strong Confidence
45 Arbol Parametric climate risk insurance $280M–$360M Strong Confidence Announced Private Round Valuation Estimated $69M Strong Confidence
46 Planck AI commercial underwriting data $280M–$320M Strong Confidence Acquisition Value Estimated $48M Full Confidence
47 +Simple SME insurance robo-broker $275M–$400M Partial Confidence Comparables-Based Estimate Estimated $117M Partial Confidence
48 Insurify AI-powered insurance comparison marketplace $275M–$425M Partial Confidence Revenue or ARR Multiple Estimate Estimated $130M Strong Confidence
49 Honeycomb Insurance AI commercial property insurance $270M–$400M Strong Confidence Implied Valuation from Raise Implied $95M Full Confidence
50 CoverWallet Digital small-business insurance brokerage $250M–$350M Partial Confidence Acquisition Value Estimated $28M Partial Confidence
51 Superscript Digital SME business insurance $250M–$375M Partial Confidence Implied Valuation from Raise Estimated $80M Partial Confidence
52 RenewBuy Insurance distribution marketplace $210M–$260M Partial Confidence Comparables-Based Estimate Estimated $151M Partial Confidence
53 INSHUR Commercial driver insurance platform $225M–$350M Partial Confidence Implied Valuation from Raise Implied $115M Partial Confidence
54 Socotra Cloud insurance core platform $220M–$350M Partial Confidence Comparables-Based Estimate Estimated $96M Partial Confidence
55 Policygenius Online consumer insurance marketplace $225M–$350M Low Confidence Comparables-Based Estimate Estimated $276M Strong Confidence
56 Sixfold Generative AI underwriting platform $200M–$375M Strong Confidence Implied Valuation from Raise Implied $22M Full Confidence
57 Coterie Insurance Small-business insurance MGA $200M–$300M Partial Confidence Comparables-Based Estimate Estimated $100M Strong Confidence
58 Cape Analytics Geospatial property risk analytics $180M–$280M Partial Confidence Acquisition Value Estimated $75M Strong Confidence
59 PasarPolis Southeast Asian insurance distribution platform $180M–$280M Partial Confidence Comparables-Based Estimate Estimated $134M Funding Confidence Unavailable
60 Sunday AI-powered Southeast Asian insurer $160M–$250M Partial Confidence Comparables-Based Estimate Estimated $75M Strong Confidence
61 OneDegree Hong Kong virtual insurance group $140M–$210M Strong Confidence Revenue or ARR Multiple Estimate Estimated $108M Partial Confidence
62 Bold Penguin Commercial insurance exchange $150M–$250M Partial Confidence Acquisition Value Estimated $50M Strong Confidence
63 Cytora Digital risk processing platform $150M–$240M Partial Confidence Acquisition Value Estimated $42M Partial Confidence
64 Getsafe Mobile-first European digital insurer $130M–$210M Low Confidence Comparables-Based Estimate Estimated $110M Strong Confidence
65 Roots Automation AI agents for insurance operations $140M–$240M Partial Confidence Implied Valuation from Raise Implied $44M Partial Confidence
66 ZestyAI AI property risk analytics $140M–$220M Partial Confidence Revenue or ARR Multiple Estimate Estimated $46M Full Confidence
67 Qover Embedded insurance orchestration platform $120M–$190M Partial Confidence Implied Valuation from Raise Implied $72M Strong Confidence
68 Snapsheet Digital claims management software $130M–$180M Partial Confidence Revenue or ARR Multiple Estimate Estimated $103M Partial Confidence
69 Wrisk Embedded automotive insurance platform $125M–$180M Strong Confidence Implied Valuation from Raise Implied $31M Partial Confidence
70 Plum Employee insurance and healthcare $126M Full Confidence Announced Private Round Valuation Observed $41M Strong Confidence
71 Ladder Online term life insurance $125M–$225M Low Confidence Revenue or ARR Multiple Estimate Estimated $182M Partial Confidence
72 Leocare Mobile multi-product insurance broker $90M–$170M Low Confidence Acquisition Value Estimated $138M Partial Confidence
73 Arturo AI property imagery analytics $100M–$160M Partial Confidence Comparables-Based Estimate Estimated $47M Strong Confidence
74 Obie Digital landlord insurance platform $100M–$175M Partial Confidence Comparables-Based Estimate Estimated $40M Strong Confidence
75 Seyna Insurance infrastructure for brokers $90M–$140M Strong Confidence Implied Valuation from Raise Implied $67M Full Confidence
76 Cuvva Short-term digital motor insurance $90M–$140M Strong Confidence Revenue or ARR Multiple Estimate Estimated $27M Partial Confidence
77 CLARA Analytics AI insurance claims optimization $90M–$140M Partial Confidence Revenue or ARR Multiple Estimate Estimated $64M Strong Confidence
78 Flock Connected commercial fleet insurance $109M Full Confidence Acquisition Value Observed $60M Strong Confidence
79 Concirrus Specialty insurance underwriting analytics $80M–$140M Partial Confidence Revenue or ARR Multiple Estimate Estimated $44M Partial Confidence
80 Pathpoint Digital E&S insurance wholesaler $70M–$120M Low Confidence Comparables-Based Estimate Estimated $49M Strong Confidence
81 Sprout.ai AI claims automation software $65M–$110M Low Confidence Comparables-Based Estimate Estimated $38M Partial Confidence
82 Five Sigma Cloud insurance claims management $55M–$90M Low Confidence Comparables-Based Estimate Estimated $18M Strong Confidence
83 Coverfox Online insurance comparison marketplace $54M–$80M Low Confidence Proxy-Based Estimate Estimated $55M Partial Confidence
84 Sigo Seguros Spanish-first auto insurance $45M–$75M Partial Confidence Implied Valuation from Raise Implied $23M Strong Confidence
85 Loadsure Automated freight cargo insurance $45M–$75M Low Confidence Implied Valuation from Raise Estimated $12M Strong Confidence
86 Hedvig Nordic digital home insurer $35M–$50M Partial Confidence Comparables-Based Estimate Estimated $99M Partial Confidence
87 FloodFlash Sensor-triggered parametric flood insurance $25M–$50M Low Confidence Proxy-Based Estimate Estimated $18M Partial Confidence
88 Lovys Digital consumer insurance subscription $25M–$40M Partial Confidence Comparables-Based Estimate Estimated $31M Partial Confidence
89 By Miles Pay-per-mile car insurance $25M–$45M Low Confidence Proxy-Based Estimate Estimated $27M Strong Confidence
90 Toffee Insurance Bite-sized microinsurance products $15M–$30M Low Confidence Proxy-Based Estimate Estimated $12M Partial Confidence
91 Huize Asian online insurance marketplace $10M Full Confidence Public Market Cap Observed $101M Partial Confidence
92 Luko Digital home insurance business $5M Full Confidence Acquisition Value Observed $85M Full Confidence
93 Loop Fair-pricing auto insurance MGA $0M–$5M Low Confidence Proxy-Based Estimate Estimated $32M Partial Confidence

Key valuation trends in the InsurTech market

Insights

  • Oscar Health and Policybazaar represent $18.1 billion in combined equity value, showing that large public insurance distribution platforms remain far more valuable than most private InsurTech carriers.
  • Coalition’s estimated $5.0 billion midpoint is more than six times its $800 million funding base, making cyber insurance one of the strongest value-creation segments in the InsurTech market.
  • Marshmallow and bolttech are both valued near $2.1 billion, but bolttech has raised more than three times as much capital, which highlights Marshmallow’s unusually high capital efficiency.
  • Reserv’s estimated $900 million midpoint is around 17 times its reported funding, suggesting that AI-native claims infrastructure can create significant value without carrier-level capital requirements.
  • Cyber insurance companies Coalition, At-Bay and Corvus represent approximately $6.8 billion in combined value from about $1.2 billion of total funding.
  • Planck’s estimated $300 million acquisition value is more than six times its $48 million funding, showing the strategic value of specialized commercial underwriting data.
  • Akur8 and hyperexponential have a combined midpoint valuation of about $800 million after raising $271 million, indicating strong capital efficiency in insurance pricing software.
  • Newfront’s $1.3 billion acquisition value is more than four times its funding, confirming continued buyer demand for technology-enabled commercial insurance brokerages.
  • NEXT Insurance’s $2.6 billion acquisition value is approximately 2.4 times its funding, a substantial outcome for a capital-intensive, full-stack insurance underwriting business.
  • Public InsurTech outcomes remain highly uneven. Oscar Health is worth more than $10 billion, while Huize is worth about $10 million despite raising more than $100 million.
  • Luko’s $5 million acquisition value against $85 million raised illustrates how balance-sheet pressure and restructuring can erase most of the value created by an insurance technology platform.

A few words about our methodology

As you can see, we built a database that ranks InsurTech startups based on their current valuation.

Estimating InsurTech startup valuations is not always straightforward. Many private insurers, insurance software companies and distribution platforms do not publicly disclose their valuations.

The available information can also vary widely depending on the company’s business model, funding stage, regulatory structure and geographic market.

To build this InsurTech ranking, we applied a structured valuation methodology and cross-checked information across multiple reliable sources.

Whenever possible, we relied on direct disclosures. These include announced valuations from completed funding rounds, public filings for listed companies and official acquisition prices.

When an InsurTech company is publicly listed, we use its current market capitalization as the reference valuation.

Public market capitalizations can change frequently. The valuation shown in this ranking therefore represents the company’s equity value at the time of the latest update.

If an InsurTech company was acquired and no independent current valuation can reasonably be estimated, we use the acquisition price as the main reference point.

When a startup recently raised capital but did not disclose its valuation, we estimate the implied valuation using typical dilution levels for that fundraising stage.

In some cases, we estimate valuations using operating metrics such as revenue, annual recurring revenue, insurance premiums, customer growth or policy volume.

We combine these metrics with valuation multiples from comparable companies operating in the same part of the InsurTech market.

Comparisons are made between similar business models whenever possible. A digital insurance carrier is not valued in the same way as an insurance software platform, online broker or claims technology provider.

Full-stack insurers often require more regulatory capital and underwriting capacity. Insurance software companies can usually scale with less capital and may receive higher revenue multiples.

When direct financial data is unavailable, we may rely on carefully selected comparable startups and other signals such as hiring growth, investor quality, product adoption or geographic expansion.

All estimates follow a strict evidence hierarchy. Recent funding rounds with announced valuations carry the most weight, followed by strong operating metrics and comparable company analysis.

We also evaluate the age of every data point. Recent information carries more weight, while older information is treated cautiously and adjusted conservatively when necessary.

Whenever information is uncertain or incomplete, we clearly distinguish between confirmed facts, implied valuations and reasonable estimates.

Because valuation data is not always fully public, each InsurTech startup in the ranking is assigned a confidence level based on the reliability, recency and consistency of the available evidence.

Full confidence means the valuation is supported by strong and recent evidence. Strong confidence means the estimate is well supported but includes minor inference. Partial confidence means the estimate relies more heavily on indirect signals. Low confidence means available information is limited or inconsistent.

When confidence is lower, we take a more conservative approach by widening the valuation range. This reflects the uncertainty and increases the probability that the true valuation falls within the estimated range.

In a world where LLMs hallucinate and unreliable information is everywhere, our goal is simple: provide data you can trust.

If you want the full detail on a specific valuation estimate, feel free to contact us and we will gladly explain.

Finally, know that we update the dataset once per month, so come back here if you need fresh information.

Related blog posts

- What are the latest fundraising trends in the InsurTech market?

- Which companies have raised the most funding in the InsurTech market?

- Is fundraising strong in the InsurTech market right now?

- A full list of funding deals in the InsurTech market

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