I will cover the Best InsurTech Companies in Europe that are changing the insurance industry for 2026. Embedded insurance and digital health technologies allow companies to speed up claims, price more transparently, and create customer-centric experiences. Europe’s InsurTech scene is booming with AI, unicorns like wefox and Alan, along with other growth companies like Qover.
What Is InsurTech Companies ?
InsurTech, short for insurance technology, is the word used to describe new technologies in the insurance industry. This word encompasses new technology companies and innovative thinking about how insurance can be improved. InsurTech is a solution for slow claims processing, unclear pricing, and restricted access.
Software tools powered by AI for underwriting and claims management, embedded insurance APIs, and digital health platforms offer insurance that is more customized, less expensive, and easier to access.
InsurTech companies use active behavioral data and pricing tools that are powered by IoT devices, telematics, and application to provide more accurate underwriting and improve flexibility for coverage offerings.
With their use of enabling technologies, InsurTech companies are unique in the marketplace, offering insurance solutions, policy design, sale, and management to better fit the modern needs of consumers and businesses.
Why European InsurTech Is Growing in 2026?
AI Automation
Generative AI is profoundly changing the entire insurance value chain. Insurance processing and claims, underwriting, and fraud detection are all faster and cost less because of companies like Tractable (UK) and Shift Technology (France). Insurance transactions are now much faster.
Increasing Embedded Insurance
Insurance is more integrated than ever into e-commerce, transportation, and fintech. Companies like Qover and Wakam provide insurance APIs that let non-insurers embed insurance at the point of sale. The European market for embedded insurance is projected to reach €90B in premiums by 2030.
Open Insurance Regulations
Inspired by Open Banking, other EU regulations like DORA are starting to enforce data portability across insurers. InsurTechs can use this to develop new parametric insurance products and a more integrated customer interface.
Increase in Funding
H1 2026 saw over €900M in funding for European InsurTech companies, and over a third of this funding went to AI- first companies. Companies like Alan (France) raised large amounts and caused mega-funding rounds. M&A, such as Admiral acquiring Flock, helped to increase funding and consolidation in the industry.
Shifting Toward Infrastructure
InsurTech companies focused on automation and enabling insurance infrastructure are gaining favour. Surviving companies from the 2022-2024 funding winter are now offering insurance products, underwriting to profitability, and licensing their technology to insurance companies.
How We Selected the 10 Best InsurTech Companies
| Company | Ranking Factors | What to Measure |
|---|---|---|
| wefox | Valuation, Customer Base, Profitability, Distribution Model, IPO Readiness | Measure €2.4B+ valuation, 2M+ customers, profitability milestones, broker + digital mix, IPO timeline |
| Alan | Health Coverage Reach, ARR Growth, Regulatory Compliance, Digital Integration, Customer Satisfaction | Measure €423M ARR, 700k+ covered individuals, compliance with EU health laws, app adoption, NPS scores |
| Lemonade EU | AI Claims Speed, Customer Growth, Market Expansion, Transparency, Charity Model | Measure claim processing time (<3s), 1.9M customers, EU expansion rate, peer-to-peer donations, retention |
| Getsafe | Mobile Adoption, Millennial Penetration, EU Expansion, Product Diversity, Pricing Transparency | Measure app downloads, % millennial users, EU market entries, renters/liability product mix, pricing clarity |
| Zego | Gig Economy Coverage, Fleet Partnerships, Usage-Based Policies, Telematics Integration, Market Share | Measure # of insured fleets/drivers, partnerships, pay-as-you-go adoption, telematics data usage, UK/EU share |
| Brolly | AI Policy Management, Consolidation Efficiency, Personalization, Acquisition Impact, Customer Retention | Measure AI recommendations accuracy, policy consolidation rate, personalization adoption, post-acquisition growth, churn |
| Coya | API Distribution, Affordability, Claims Speed, Partner Ecosystem, EU Scalability | Measure API integrations, average premium cost, claims turnaround, # of partners, EU expansion success |
| Ottonova | Expat Coverage, Telemedicine Use, Regulatory Compliance, Customer Growth, Digital Billing | Measure expat adoption, telemedicine sessions, compliance with German health laws, customer base growth, billing transparency |
| Tractable UK | AI Accuracy, Claims Speed, Global Partnerships, Fraud Reduction, Industry Expansion | Measure AI claim accuracy %, average claim time, insurer partnerships, fraud detection rate, property/auto expansion |
| Qover | API Scalability, Partner Growth, Regulatory Compliance, Product Diversity, Embedded Reach | Measure # of fintech/mobility partners, API scalability, compliance costs, product categories, embedded insurance adoption |
10 Best InsurTech Companies in Europe in 2026
1. wefox
In 2015, wefox was established as a Digital Broker and is now part of Europe’s largest InsurTech unicorns. As a digital distributor, wefox seeks to tackle fragmentation in insurance accessibility via a unified broker and insurer platform.
By 2026, wefox has a €2.4B valuation, has more than 2 million customers, and was the first to achieve profitability in the insurance space with a valuation of €220M. The wefox model also helps clients decrease the time needed to manage insurance policies and claims.
The company aims to go public on the Frankfurt Stock Exchange (FWB) in 2027 and continues to grow. Thanks to a skilled workforce of human and AI experts, wefox is able to offer bespoke insurance coverage to clients, and at the same time, help insurers work more efficiently.
wefox Features
- Founded 2015, based in Berlin, Germany
- Hybrid broker + digital platform
- Valuation of €2.4B, 2M+ customers
- Achieved profitability in 2025
- Preparing for Frankfurt IPO by 2027
| Pros | Cons |
|---|---|
| Large customer base (2M+) | Heavy reliance on broker network |
| Achieved profitability in 2025 | Regulatory scrutiny in Germany |
| Strong valuation (€2.4B) | High competition from incumbents |
| Hybrid digital + human advisory | Complex scaling across EU |
| Preparing for IPO (2027) | Operational costs remain high |
2. Alan
Alan was founded in 2016 with its headquarters in Paris, France. It offers health insurance online. Because of the insurance tech (InsurTech) it uses, health insurance policy offerings from Alan are simple and straightforward. The Alan health insurance policy was valued at €4.9B in 2026, with a €423 million ARR and insurance covering 700,000 people in Europe.
The Alan health insurance app has features for managing health insurance claims, as well as telemedicine and health and wellness features.
Alan offers services that simplify health insurance offerings and provide services that help people be healthier. Alan’s regulatory compliance and carrier license differentiate it from its competitors, resulting in Alan being one of the most trusted health-focused InsurTechs in Europe.
Alan Features
- Founded 2016, based in Paris, France
- Digital health insurer with license
- €4.9B valuation, €423M ARR
- Covers 700k+ individuals
- Integrates telemedicine & wellness
| Pros | Cons |
|---|---|
| Licensed health insurer | Limited outside France |
| Transparent pricing | High regulatory compliance costs |
| €4.9B valuation | Strong competition from statutory health |
| Covers 700k+ individuals | Scaling telemedicine across EU is complex |
| Integrated wellness & telemedicine | Premiums higher than traditional insurers |
3. Lemonade EU
In 2015, Lemonade EU (AI-first insurance) setup shop in NYC. The European office settled in The Netherlands. Lemonade was the first insurance company to disrupt insurance on AI-based automation of claims.
The bot, dubbed “AI Jim”, processes claims in under 3 seconds. By 2026, Lemonade EU will serve 1.9M customers with a market cap of $1.4B, and continue operating in other European markets.
Their peer to peer model leaves leftover premiums to charities to build trust with customers. Lemonade’s strong suit is their customer centric model coupled with transparency and a lot of automation. This model has positioned Lemonade to lead innovation in insurance through AI in Europe.
Lemonade EU Features
- Founded 2015, EU HQ Amsterdam
- AI-first claims automation
- “AI Jim” bot processes claims in seconds
- 1.9M customers, $1.4B market cap
- Peer-to-peer model with charity donations
| Pros | Cons |
|---|---|
| AI-driven claims automation | Customer churn in EU markets |
| Fast claims (<3 seconds) | Limited product range |
| Peer-to-peer charity model | Regulatory challenges in EU |
| 1.9M customers | High reliance on AI trust |
| Strong brand recognition | Profitability remains uncertain |
4. Getsafe
Getsafe was founded in 2015 as a mobile-first insurance company focused on young adult customers. Based in Germany, Getsafe was the first insurance company in the EU to sell liability, renter’s, and personal insurance policies exclusively through a mobile app. By 2026, Getsafe had quickly expanded to several countries in the EU, and became particularly popular with young adults.
The Getsafe app provides the convenience of on-the-go adjustments to insurance policies, immediate reporting of claims, and transparent pricing.
The concept behind Getsafe is to vertically integrate all aspects of insurance to the standards of a digital subscription. Getting insurance has never been this easy. Getsafe provides insurance policies to thousands of young adults at prices lower than competitors, and customers soon began to trust Getsafe with their insurance.
Getsafe Features
- Founded 2015, based in Heidelberg, Germany
- Mobile-first insurance app
- Focused on renters & liability coverage
- Expanding EU markets
- High adoption among millennials
| Pros | Cons |
|---|---|
| Mobile-first insurance app | Limited product diversity |
| Strong millennial adoption | Smaller valuation compared to peers |
| Expanding across EU | Heavy reliance on smartphone penetration |
| Transparent pricing | Regulatory hurdles in new markets |
| Instant claims filing | Customer base smaller than wefox/Alan |
5. Zego
Zego was founded in 2016, is headquartered in London, and is the first InsurTech unicorn for fleets and the gig economy. Zego provides flexibility for delivery and ride-hailing drivers and logistics companies with pay-as-you-go insurance for delivery and ride-hailing fleets. By 2026, Zego will have thousands of insured vehicles throughout Europe.
Their technology helps businesses adapt to the constantly changing risk environment. Zego’s insurance platform balances the real-time needs of the gig economy with data and telematics. Zego provides flexible hours insurance to drivers and full-time fleets for all operational needs. Overall, Zego brings innovation to the insurance market to support the growing gig economy.
Zego Features
- Founded 2016, based in London, UK
- Usage-based fleet & gig insurance
- First UK InsurTech unicorn
- Pay-as-you-go flexible insurance policies
- Pricing influenced by telematics
| Pros | Cons |
|---|---|
| First UK InsurTech unicorn | Niche focus on gig economy |
| Usage-based policies | Vulnerable to gig economy downturns |
| Flexible pay-as-you-go | Regulatory challenges in fleet insurance |
| Telematics-driven pricing | High competition from incumbents |
| Strong fleet partnerships | Scaling outside UK is difficult |
6. Brolly
Brolly is a London-based insurance app founded in 2016. It operates in the policy management segment and aims to solve the problem of scattered insurance policies by consolidating them on a single intelligent platform. Direct Line Group acquired Brolly, and it is continuing to favor AI to make recommendations and personalized coverage.
By 2026, Brolly’s app should continue to be the market leader in assisting users to optimize coverage, avoid coverage overlaps, and reduce insurance premium reductions.
Brolly’s app provides users with insurance assistance to make more informed decisions. Brolly continues to provide an advantage to Insurance management because of its AI. Brolly has greatly changed its users’ management of insurance through simplicity and low cost.
Brolly Features
- Founded 2016, based in London, UK
- AI to manage insurance policies
- Consolidation of multiple insurance policies
- Acquired by Direct Line Group
- Personalized insurance
| Pros | Cons |
|---|---|
| AI-driven policy management | Limited independence post-acquisition |
| Consolidates scattered policies | Smaller customer base |
| Personalized recommendations | Limited EU expansion |
| Backed by Direct Line Group | Innovation slowed after acquisition |
| Strong AI insights | Niche market focus |
7. Coya
Founded in 2016, Coya is a digital P&C insurance company headquartered in Berlin. Coya is a solution to the expensive, inflexible home contents insurance in the rapidly growing embedded insurance segment, offering low-cost insurance through its APIs.
By 2026, Coya plans to continue growth across Europe, partnering with more digital platforms to embed insurance within customer journeys.
Coya’s model simplifies customer and partner journeys through instant policy issuance and claims. Coya’s ability to quickly offer insurance across fintech and e-commerce is the secret to its rapid growth in Europe’s innovative insurance industry.
Coya Features
- Founded 2016, based in Berlin, Germany
- Digital property & casualty insurer
- API used for embedded insurance
- Low-cost insurance for home contents
- Claims submitted via the application
| Pros | Cons |
|---|---|
| API-first embedded distribution | Limited brand recognition |
| Low-cost home insurance | Narrow product portfolio |
| Instant claims filing | Heavy reliance on partnerships |
| Scalable across EU | Regulatory compliance challenges |
| Affordable premiums | Smaller valuation compared to peers |
8. Ottonova
Munich, Germany based firm Ottonova, established in 2017 as the first Digital Private Health Insurance firm in Germany focuses on expat customers. They help customers avoid the complexity and tediousness of the bureaucratic German health system by providing app based health insurance.
Ottonova’s market share has steadily grown and by 2026 they were serving thousands with their telemedicine and digital claims, and prevention health tools.
The app has real time chat with doctors and applications for booking and transparent billing. They are strong in regulatory compliance as the first of their kind, and in building pathways for the customer experience. Focused on the digital expat customer they continue to challenge traditional health insurance firms.
Ottonova Features
- Founded 2017, based in Munich, Germany
- Digital private health insurance
- Focus on expat coverage
- Integrates telemedicine & doctor
- Transparent billing & claims
| Pros | Cons |
|---|---|
| Germany’s first digital health insurer | Limited to private health insurance |
| Expat-focused solutions | Smaller customer base |
| Telemedicine integration | High regulatory barriers |
| Transparent billing | Premiums higher than statutory health |
| Strong compliance | Limited EU expansion |
9. Tractable UK
Founded in 2014, in London, UK, Tractable uses AI to solve slow and inaccurate auto damage claims within seconds. By 2026, worldwide automakers and insurers will use Tractable’s technology to process millions of claims annually.
Tractable uses AI to scale across many industries to speed up claims, detect fraud, and improve customer satisfaction.
Tractable UK remains a leader in Europe for claims automation driven by AI and offers insurance partners automotive and property damage claims automation. With strong partnerships and proven accuracy, Tractable has a unique opportunity to scale across many industries.
Tractable UK Features
- Founded: 2014
- AI-powered computer vision claims
- Sector focus: auto & property damage
- Global insurance partnerships
- Accelerates payouts and reduces fraud
| Pros | Cons |
|---|---|
| AI-powered computer vision | Limited to claims assessment |
| Fast auto damage analysis | Dependence on insurer partnerships |
| Global insurer partnerships | Regulatory concerns around AI |
| Fraud reduction | Limited consumer-facing presence |
| Expanding into property damage | High R&D costs |
10. Qover
Qover was launched in 2016 and is a Belgian company specializing in embedded insurance APIs. innovatively, Qover created technical solutions for insurance distribution in the B2B2C embedded segment for fintechs, mobility platforms, and e-commerce providers. By 2026, Qover will control 20+ European scalable embedded API insurance solutions for travel, mobility, and financial services.
Qover’s API technology enables insurance to be offered as modules. Qover continues to innovate and simplify the process of offering insurance. Dominating embedded insurance technology in Europe, Qover works with customers to fulfill their insurance offerings, when and where their customers need it.
Qover Features
- Founded: 2016
- Embedded insurance API provider
- B2B2C distribution for fintechs & mobility
- Modular, scalable insurance solutions
- Strong regulatory compliance
| Pros | Cons |
|---|---|
| Embedded insurance APIs | Heavy reliance on B2B2C partners |
| Scalable modular solutions | Limited direct consumer brand |
| Strong fintech partnerships | Regulatory compliance costs |
| HQ Brussels, founded 2016 | Smaller valuation compared to wefox/Alan |
| Powers mobility & fintech platforms | Dependent on partner growth |
Conclusion
In summary, the European InsurTech market in 2026 will represent a milestone for innovation and customer-centric solutions. Companies like wefox, Alan, and Lemonade (EU) and Tractable (UK) are examples of company valuations, scale, and automation.
An emphasis on customer needs has prompted the introduction of insurtechs like Getsafe, Zego, Brolly, Coya, Ottonova, and others. European insurtechs reflect a push for more accessible, modern, and AI-centric insurance ecosystems, which are exemplified by the companies and services described above.
FAQ
What is InsurTech?
InsurTech refers to technology-driven innovation in the insurance industry, using AI, APIs, mobile apps, and digital platforms to improve underwriting, claims, and customer experience.
Which is the largest InsurTech in Europe?
wefox, headquartered in Berlin, is Europe’s largest InsurTech by valuation (€2.4B+) and customer base (2M+).
Which InsurTech focuses on health insurance?
Alan (France) and Ottonova (Germany) specialize in digital health insurance, simplifying healthcare access with apps and telemedicine.
Which company leads in AI-driven claims?
Lemonade EU and Tractable UK are leaders in AI-powered claims automation, reducing claim times from weeks to seconds.
