TOP 25 INSURTECHS
DGTAL
For an insurtech that only launched last year, Switzerland-headquartered DGTAL has hit the ground running, announcing its European rollout and a new corporate structure in October 2022. DGTAL describes its work as pioneering the full automatisation of claims-handling in Europe using AI and the power of data.
To kickstart the company, its founders pre-invested around €10 million for the development of its landmark products DRILLER and HUSTON. And DGTAL is in advanced discussions with institutional investors for an additional €6 million Series A equity injection.
The insurtech’s expansion is based on the proof-of-concept of DRILLER, an analytics and audit tool which allows insights into claims portfolios and enables insurers to tap into both their structured and unstructured data. From this they can gain clarity on their claims portfolio, forecast adverse developments, and flag critical claims and their cost.
DGTAL was set up by industry veteran and insurance expert Arndt Gossmann, the CEO, along with software company Deon Digital.
“The insurtech’s expansion is based on the proof-of-concept of DRILLER.”
Dynamo
Dynamo has gone from strength to strength with a £100 million expansion plan backed by new investment and a fresh product range, ahead of its move to Cardiff City Centre from Barry in Wales.
The tech-enabled insurance broker, which was founded by former Apprentice candidate Alex Mills in 2017, provides products for motor, home, life, GAP, and student insurance. It works with a range of insurers to get the best deals for clients.
The company has positioned itself as an insurtech platform that allows users to purchase a range of products without paying commission.
“Dynamo has gone from strength to strength.”
DynaRisk
In June 2022, cyber insurance data and analytics firm DynaRisk closed a seed funding round bringing its first-year funding to over $7 million as it works towards scale in operations across Europe and North America.
The insurtech provides cybersecurity tools to home users and businesses. It was founded in 2016 by chief executive officer Andrew Martin. He spotted a market opportunity to mitigate risk for personal and commercial cyber insurers, reinsurers and MGAs when he recognised that companies were spending large sums of money protecting their assets but leaving individuals to fend for themselves.
Martin said: “Being able to offer our clients new ways to protect their policyholders in this increasingly fraught cyber landscape is central to our mission.”
DynaRisk partners with clients such as Chubb, Canopius, Hiscox, Ascot and BOXX Insurance to improve loss ratios, engage insureds and streamline renewals.
“The insurtech provides cybersecurity tools.”
Ethos Specialty
This insurtech may operate as an independent managing general underwriter (MGU) but as a member of specialty risk assumption organisation Ascot Group it has access to advantages other insurtechs don’t. As part of the Ascot Group family, Ethos Specialty can tap into the additional resources of an AM Best “A” rated carrier and third party capital as it looks to expand its product range and enhance its technology offering.
By combining the independence of the Ethos Specialty platform with the resources of a dynamic global re/insurer, this MGU works to create value for its brokers and capital partners.
“This MGU works to create value for its brokers.”
Instanda
Following Instanda’s latest $45 million fundraising led by Toscafund, the insurtech has secured former Hiscox chief financial officer Liz Prior to grow its geographical presence in Europe, the US, Japan, and the United Arab Emirates.
Instanda describes itself as “the first solution of its kind” to offer a fully customisable SaaS-based policy administration platform that enables insurers to get ahead of the competition with lightning-quick agility.
Founded in 2012 by Derek Hill and Tim Hardcastle, the insurtech has been on a mission to digitise the insurance industry by solving challenges for all insurance providers and enabling them to offer unrivalled customer experience at low cost.
“The insurtech has been on a mission to digitise the insurance industry.”
