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Insurance Unicorns

15 Insurance Companies that went to Become Unicorns

If you're building an insurance startup, you must check these 15 companies that have joined the unicorn club.

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The insurance business is no longer about selling your policies to black and white happy families.

With the changes in the industry, insurers have an edge of unpredictability that makes it all the more enticing to startups.

With technology disrupting everything we do, now insurance is also getting its share of this power.

This is why a growing number of insurance startups are re-shaping the business to make it more efficient, customer-friendly, and customer-oriented.

These companies have joined the famous unicorn club (companies with billion-dollar valuations).

Here are 15 insurance unicorns you should keep your eyes on.

15 Insurance Companies that Became Unicorns

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Alan

Alan

Alan is a platform that uses technology to make health insurance more convenient and affordable.

Details of the startup:

  • Valuation:

    $1.68

    B (

    April 2021

    )

  • Country:

    France

  • City:

    Paris

  • Started in:

    2016

  • Founders:

    Charles Gorintin, Jean Charles Samuelian

  • Industries:

    Health Care, Health Insurance, Insurance

  • Number of employees:

    100-250

  • Funding Amount:

    €310,000,000

  • Number of funding rounds:

    6

  • Number of investors:

    16

here

BGL Group

BGL Group

BGL Group is an insurance and financial consultancy group that utilizes the latest software to digitally distribute a wide range of products.

Details of the startup:

  • Valuation:

    $3.00

    B (

    November 2017

    )

  • Country:

    United Kingdom

  • City:

    Peterborough

  • Started in:

    1991

  • Founders:

    Douw Gerbrand Steyn

  • Industries:

    Finance, Financial Exchanges, Financial Services, FinTech, Insurance, Wealth Management

  • Number of employees:

    1,000-5,000

  • Funding Amount:

    £525,000,000

  • Number of funding rounds:

    1

  • Number of investors:

    1

here

Bright Health

Bright Health

Bright Health is a platform that offers personalised health insurance services.

Details of the startup:

  • Valuation:

    $1.00

    B (

    December 2019

    )

  • Country:

    United States

  • City:

    Minneapolis

  • Started in:

    2015

  • Founders:

    Kyle Rolfing, Robert John Sheehy, Tom Valdivia

  • Industries:

    Health Care, Health Insurance, Hospital, Insurance, InsurTech

  • Number of employees:

    500-1,000

  • Funding Amount:

    $1,575,000,000

  • Number of funding rounds:

    5

  • Number of investors:

    17

here

Cambridge Mobile Telematics

Cambridge Mobile Telematics

Cambridge Mobile Telematics provides full-stack telematics solutions that connect data from vehicles to a suite of behavioral analytics tools.

Details of the startup:

  • Valuation:

    $1.50

    B (

    December 2018

    )

  • Country:

    United States

  • City:

    Cambridge

  • Started in:

    2010

  • Founders:

    Bill Powers, Hari Balakrishnan, Sam Madden, Tim Vogel

  • Industries:

    Insurance, Mobile, Public Safety, Transportation

  • Number of employees:

    100-250

  • Funding Amount:

    $502,500,000

  • Number of funding rounds:

    2

  • Number of investors:

    1

here

Coalition

Coalition

Coalition operates as one of the first companies in the world to offer access to cyber insurance program.

Details of the startup:

  • Valuation:

    $1.75

    B (

    March 2021

    )

  • Country:

    United States

  • City:

    San Francisco

  • Started in:

    2017

  • Founders:

    John Hering, Joshua Motta

  • Industries:

    Cyber Security, Information Technology, Insurance, Risk Management

  • Number of employees:

    100-250

  • Funding Amount:

    $315,000,000

  • Number of funding rounds:

    5

  • Number of investors:

    10

here

Digit Insurance

Digit Insurance

Digit Insurance provides a multitude of insurance services, ranging from life-insurance policies to pet insurance.

Details of the startup:

  • Valuation:

    $1.90

    B (

    January 2021

    )

  • Country:

    India

  • City:

    Bengaluru

  • Started in:

    2016

  • Founders:

    Kamesh Goyal

  • Industries:

    Finance, Financial Services, Insurance, InsurTech

  • Number of employees:

    1,000-5,000

  • Funding Amount:

    $244,460,149

  • Number of funding rounds:

    5

  • Number of investors:

    4

here

eBroker

eBroker

eBroker is a B2B2C global insurance and financial services marketplace that allows Chinese consumers to buy from a global array of products, including private insurance.

Details of the startup:

  • Valuation:

    $1.90

    B (

    February 2019

    )

  • Country:

    China

  • City:

    Shanghai

  • Started in:

    2015

  • Founders:

    Max He

  • Industries:

    Financial Services, FinTech, Insurance, Marketplace

  • Number of employees:

    100-250

  • Funding Amount:

    $101,000,000

  • Number of funding rounds:

    4

  • Number of investors:

    4

here

Grab Financial Group

Grab Financial Group

Grab Financial Group provides top-tier financial services that enable clients to leverage their balance sheets to succeed in today’s market.

Details of the startup:

  • Valuation:

    $3

    B (

    January 2021

    )

  • Country:

    Singapore

  • City:

    Midview City

  • Started in:

    2018

  • Founders:

    No Data

  • Industries:

    Financial Services, Insurance, Payments

  • Number of employees:

    10-50

  • Funding Amount:

    $300,000,000

  • Number of funding rounds:

    1

  • Number of investors:

    5

here

Hyperion Insurance Group

Hyperion Insurance Group

Hyperion offers a wide range of risk management solutions to businesses and individuals across the globe.

Details of the startup:

  • Valuation:

    $5.00

    B (

    September 2020

    )

  • Country:

    United Kingdom

  • City:

    London

  • Started in:

    1994

  • Founders:

    David Howden

  • Industries:

    Auto Insurance, Insurance, Retail, Wholesale

  • Number of employees:

    500-1,000

  • Funding Amount:

    $1,900,000,000

  • Number of funding rounds:

    4

  • Number of investors:

    4

here

Next Insurance

Next Insurance

Next Insurance is a digital insurance provider for small businesses and startups.

Details of the startup:

  • Valuation:

    $4.00

    B (

    October 2019

    )

  • Country:

    United States

  • City:

    Palo Alto

  • Started in:

    2016

  • Founders:

    Alon Huri, Guy Goldstein, Nissim Tapiro

  • Industries:

    Commercial Insurance, Finance, Insurance, InsurTech, Small and Medium Businesses

  • Number of employees:

    250-500

  • Funding Amount:

    $881,000,000

  • Number of funding rounds:

    6

  • Number of investors:

    16

here

Sidecar Health

Sidecar Health

Sidecar is a personalized health insurance platform that automates the matching of risks and rewards, getting people to better health and lower healthcare costs.

Details of the startup:

  • Valuation:

    $1.00

    B (

    January 2021

    )

  • Country:

    United States

  • City:

    El Segundo

  • Started in:

    2018

  • Founders:

    Patrick Quigley, Veronica Osetinsky

  • Industries:

    Health Care, Health Insurance, Insurance, InsurTech

  • Number of employees:

    50-100

  • Funding Amount:

    $163,000,000

  • Number of funding rounds:

    3

  • Number of investors:

    11

here

The Zebra

The Zebra

The Zebra operates as an online insurance comparison marketplace, giving users access to the most affordable rates available. They allow everyday people to provide real-time feedback to their providers for better service.

Details of the startup:

  • Valuation:

    $1.00

    B (

    April 2021

    )

  • Country:

    United States

  • City:

    Austin

  • Started in:

    2012

  • Founders:

    Adam Lyons, Joshua Dziabiak

  • Industries:

    Insurance, Marketplace, Price Comparison, Search Engine

  • Number of employees:

    250-500

  • Funding Amount:

    $256,525,063

  • Number of funding rounds:

    8

  • Number of investors:

    13

here

Unqork

Unqork

Unqork's No Code Platform helps companies build, deploy and manage complex applications with zero coding or scripting.

Details of the startup:

  • Valuation:

    $2.00

    B (

    October 2020

    )

  • Country:

    United States

  • City:

    New York

  • Started in:

    2017

  • Founders:

    Gary Hoberman

  • Industries:

    Enterprise, Enterprise Applications, Financial Services, Insurance, Productivity Tools, SaaS, Software

  • Number of employees:

    250-500

  • Funding Amount:

    $365,169,951

  • Number of funding rounds:

    7

  • Number of investors:

    20

here

wefox

wefox

Wefox is the world’s first digital insurance company—combining technology and human expertise to give customers a better way to manage, track, and pay for their insurance.

Details of the startup:

  • Valuation:

    $1.65

    B (

    March 2019

    )

  • Country:

    Germany

  • City:

    Berlin

  • Started in:

    2015

  • Founders:

    Dario Fazlic, Fabian Wesemann, Jonathan Seoane, Julian Teicke, Teodoro Martino

  • Industries:

    FinTech, Insurance, InsurTech

  • Number of employees:

    500-1,000

  • Funding Amount:

    $268,500,000

  • Number of funding rounds:

    5

  • Number of investors:

    26

here

Zego

Zego

Zego is revolutionising the self-employed insurance industry with a suite of products that offer competitive rates and unparalleled service.

Details of the startup:

  • Valuation:

    $1.10

    B (

    March 2021

    )

  • Country:

    United Kingdom

  • City:

    London

  • Started in:

    2016

  • Founders:

    Harry Franks, Sten Saar, Stuart Kelly

  • Industries:

    Auto Insurance, Commercial Insurance, Insurance, InsurTech

  • Number of employees:

    250-500

  • Funding Amount:

    $201,738,891

  • Number of funding rounds:

    6

  • Number of investors:

    12

here
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