Global segment ranking · Fintech › Insurance

The world’s most valuable neo-insurers startups

Edition 0·Published 28 Oct 2026·Next scheduled update 18 Dec 2026

Digital insurers that carry the risk themselves, as licensed insurers or full-stack underwriting agencies, and sell their own car, home, health, pet, life, small-business and cyber policies directly to people and companies. Ranked worldwide by AI-estimated valuation, with listed pure players shown in grey at their market value for reference. The market sets the value; AI models estimate it.

Twice a year Claude · multi-AI consensus from 1 Dec 2026· Method· Order never changed by a human

Key metrics for this segment: key milestone. Figures as published by each company or the press, dated, not recalculated. The AIs weigh them alongside funding history and comparables.

Not in this segment. Listed, so not ranked: Oscar Health, Lemonade, Ethos, Go Digit, ZhongAn, Hippo and Root Insurance (shown in grey). Bought: Next Insurance (ERGO), Thimble (Arch), justInCase (Sony Financial Group), Singlife (Sumitomo Life), Leocare. Insolvent: Luko. Created by a group: Youse (Caixa Seguradora). Software sold to insurers, not ranked here: Bestow, Kovrr. In other segments: insurance sold inside other companies’ purchases under Embedded insurance (Faye, Laka-style partners, bolttech, Cover Genius); brokers, comparison sites and agents under Insurance distribution (Prima Assicurazioni, Clark, wefox). A company appears in one segment only. Method

The segment at a glance

39companies ranked

4companies on the radar

17countries in the ranking

7listed benchmarks

Sources: Company announcements, Bloomberg, Reuters, TechCrunch, Insurance Journal, Coverager, Sifted, Finextra, Valor Econômico, Inc42, Entrackr, The Economic Times, and market data for listed companies. Intention counters will be shown above a threshold of amount and number of Backers.

Rankings by region

Filter the ranking and the Radar. Ranks stay worldwide. Regional pages: Asia · Europe · Latin America & Caribbean · Middle East & North Africa · North America · Oceania · Sub-Saharan Africa.

Global ranking · Neo-insurers

Top 39 Radar Challengers

Snapshot28 Oct 2026First edition: no movements yet.

World · 39 ranked companies

#	Company	Last round · Key metrics	AI valuation	Pool of Interests	Back
—	Oscar HealthListed · NYSE · OSCR		USD 9.56bnMarket cap · Oct 2026Listed company · not ranked
1	Alan#2 in FranceDigital health insurer offering company health plans to employers and individuals in France, Belgium and Spain, combined with an app for claims, prevention and teleconsultation.	Series G · USD 550M · Jun 2026Key metrics not disclosed	Last known equity round: Series G · USD 550M · Jun 2026 (Prosus; Teachers’ Venture Growth, Index Ventures, Dara Holdings) Published valuation: USD 6.3bn (Jun 2026)Method	Be the first	Back
—	LemonadeListed · NYSE · LMND		USD 3.49bnMarket cap · Oct 2026Listed company · not ranked
—	EthosListed · Nasdaq · LIFE		USD 2.7bnMarket cap · Oct 2026Listed company · not ranked
—	Go DigitListed · NSE · GODIGIT		USD 2.69bnMarket cap · Sep 2026Listed company · not ranked
2	CorgiFull-stack commercial insurer for startups and founder-led businesses, underwriting and handling claims in-house for policies such as D&O, cyber, tech E&O and general liability.	Series B1 · USD 106M · May 2026Profitable since April 2026 (company statement) · Apr 2026	Last known equity round: Series B1 · USD 106M · May 2026 (TCV; Prime Capital, Zone 2 Ventures, Kindred Ventures, First Order Fund) Published valuation: USD 2.6bn (May 2026)Method	Be the first	Back
—	ZhongAnListed · HKEX · 6060		USD 2.4bnMarket cap · Aug 2026Listed company · not ranked
3	Kin InsuranceDirect-to-consumer home insurer focused on catastrophe-exposed US states such as Florida and Louisiana, using property data to price homeowners policies sold and serviced online.	Series E · USD 50M · Sep 2025On pace for over USD 370M of premium in 2023 · 2023	Last known equity round: Series E · USD 50M · Sep 2025 (QED Investors, Activate Capital); Valuation of USD 2bn before the new money Published valuation: USD 2bn (Sep 2025)Method	Be the first	Back
4	Marshmallow#19 in the United KingdomDigital car insurer in the United Kingdom using alternative data to price drivers underserved by traditional insurers, such as recent immigrants, selling policies online and via app.	Equity and debt · Apr 2025Key metrics not disclosed	Last known equity round: Equity and debt · Apr 2025 (Portage; BlackRock); USD 90M of equity and debt, split undisclosed Published valuation: USD 2bn (Apr 2025)Method	Be the first	Back
5	ManyPets#23 in the United KingdomDigital pet insurer offering cat and dog insurance in the United Kingdom and United States, with online sign-up, app-based claims and direct payments to vets.	Series D · USD 350M · Jan 2022Key metrics not disclosed	Last known equity round: Series D · USD 350M · Jan 2022Method	Be the first	Back
6	Pie InsuranceSmall-business insurer in the United States selling workers' compensation and commercial auto policies through agents and partners, using data-driven pricing and its own carriers.	Series D · USD 315M · Sep 2022Annualised run-rate premium near USD 300M · Apr 2022	Last known equity round: Series D · USD 315M · Sep 2022 (Centerbridge Partners, Allianz X; White Mountains, Gallatin Point, Greycroft, Acrew Capital)Method	Be the first	Back
7	Acko#26 in IndiaLicensed digital general and life insurer selling car, bike, health and life insurance online to Indian consumers, alongside embedded micro-policies sold through ecommerce and travel partners.	Series D · USD 255M · Oct 2021Key metrics not disclosed	Last known equity round: Series D · USD 255M · Oct 2021 (General Atlantic)Method	Be the first	Back
8	CoalitionCyber insurer for small and mid-sized businesses that combines cyber and technology E&O policies, sold through brokers, with security scanning, monitoring and incident response services.	Series F · USD 250M · Mar 2022Key metrics not disclosed	Last known equity round: Series F · USD 250M · Mar 2022 (Allianz X; Kinnevik, Durable Capital, Whale Rock, T. Rowe Price)Method	Be the first	Back
—	HippoListed · NYSE · HIPO		USD 1.02bnMarket cap · Oct 2026Listed company · not ranked
9	At-BayCyber insurer for small and mid-sized businesses that pairs cyber and technology E&O policies, sold through brokers, with continuous security monitoring and managed security services.	Series D · USD 185M · Jul 2021Key metrics not disclosed	Last known equity round: Series D · USD 185M · Jul 2021 (Icon Ventures, Lightspeed; Khosla Ventures, M12, Acrew Capital, Qumra Capital)Method	Be the first	Back
—	Root InsuranceListed · Nasdaq · ROOT		USD 803MMarket cap · Oct 2026Listed company · not ranked
10	Alice#11 in BrazilHealth plan operator in Brazil offering company and individual health plans built around a coordinated care team, its own app and a curated network of providers.	Series C (incl. extension) · USD 149M · Feb 2025Key metrics not disclosed	Last known equity round: Series C (incl. extension) · USD 149M · Feb 2025 (Apax Digital, Samsung)Method	Be the first	Back
11	OpenlyPremium homeowners insurer distributing policies through independent agents in the United States, using property data and automated pricing to quote comprehensive home coverage.	Growth equity · USD 123M · Jan 2025USD 301M written premium in 2023 (Rock Ridge partner carrier) · 2023	Last known equity round: Growth equity · USD 123M · Jan 2025 (Eden Global Partners; Advance Venture Partners, Obvious Ventures, Clocktower Technology Ventures, Point Judith Capital)Method	Be the first	Back
12	YuLifeGroup life and employee benefits insurer for employers in the United Kingdom, United States and South Africa, combining cover with a wellbeing app that rewards healthy activity.	Series C · USD 120M · Jul 2022Key metrics not disclosed	Last known equity round: Series C · USD 120M · Jul 2022 (Dai-ichi Life; Creandum, LocalGlobe, Target Global, Latitude)Method	Be the first	Back
13	Descartes UnderwritingParametric insurance underwriter covering climate and natural catastrophe risks for corporations and public entities, using satellite and sensor data to trigger automatic payouts, sold through brokers.	Series B · USD 120M · Jan 2022Over 200 corporate clients · Jan 2022	Last known equity round: Series B · USD 120M · Jan 2022 (Highland Europe; Eurazeo, Serena, Cathay Innovation, Blackfin)Method	Be the first	Back
14	LadderDigital life insurance provider in the United States selling flexible term life policies online with instant underwriting decisions and the option to adjust coverage over time.	Series D · USD 100M · Oct 2021Key metrics not disclosed	Last known equity round: Series D · USD 100M · Oct 2021 (Thrive Capital; Lightspeed, Allianz)Method	Be the first	Back
15	ResilienceCyber insurer for mid-market and large companies combining cyber insurance capacity with risk quantification software, security assessments and incident response, sold through brokers in several countries.	Series D · USD 100M · Aug 2023Key metrics not disclosed	Last known equity round: Series D · USD 100M · Aug 2023 (Intact Ventures; Lightspeed, General Catalyst, Founders Fund)Method	Be the first	Back
16	Lassie#16 in SwedenDigital pet insurer covering dogs and cats in Sweden, Germany, France and the Netherlands, combining insurance policies with an app that rewards owners for preventive care learning.	Series C · USD 75M · Feb 2026Key metrics not disclosed	Last known equity round: Series C · USD 75M · Feb 2026 (Balderton, Felix, Inventure, Stena Sessan)Method	Be the first	Back
17	Honey InsuranceHome insurer in Australia selling home and contents policies online, pairing cover with free smart-home sensors that detect leaks, fire and break-ins to reduce claims.	Series A · USD 71M · Apr 2024ARR of AUD 40M · Apr 2024	Last known equity round: Series A · USD 71M · Apr 2024 (Gallatin Point Capital)Method	Be the first	Back
18	SteadilyLandlord insurer in the United States selling rental property and short-term rental policies online and through property-tech partners, with fast quoting and its own carrier.	Series C · USD 30M · Apr 2025About USD 250M annualised gross written premium · Apr 2025	Last known equity round: Series C · USD 30M · Apr 2025 (Two Sigma Ventures; Zigg Capital, Clocktower Technology Ventures, Belfer Investment Partners, Nine Four Ventures) Published valuation: USD 360M (Apr 2025)Method	Be the first	Back
19	CowbellCyber insurer for small and mid-sized businesses selling standalone cyber policies through brokers, using continuous risk assessment and AI-based underwriting, with closed-loop risk management services.	Series C · USD 60M · Jul 2024Key metrics not disclosed	Last known equity round: Series C · USD 60M · Jul 2024 (Zurich Insurance Group)Method	Be the first	Back
20	BranchReciprocal insurer selling bundled home and auto insurance in the United States, with instant online quotes and distribution through its own site, agents and embedded partners.	Series D · USD 51M · Oct 2024Key metrics not disclosed	Last known equity round: Series D · USD 51M · Oct 2024 (American Family Ventures, HSCM Ventures)Method	Be the first	Back
21	Bene Assicurazioni#17 in ItalyLicensed Italian insurer selling motor and property insurance through digital channels and agents, built on its own technology platform for pricing, underwriting and claims management.	Funding round · USD 42.4M · Apr 2022Key metrics not disclosed	Last known equity round: Funding round · USD 42.4M · Apr 2022 (Italmobiliare)Method	Be the first	Back
22	Reliance Health#10 in NigeriaHealth maintenance organisation in Nigeria, Egypt and Ghana offering affordable health insurance plans to individuals and employers, combined with telemedicine and its own clinics.	Series B · USD 40M · Feb 2022Key metrics not disclosed	Last known equity round: Series B · USD 40M · Feb 2022 (General Atlantic)Method	Be the first	Back
23	Honeycomb InsuranceCommercial property insurer for apartment buildings, condominium associations and other residential real estate in the United States, using imagery and AI for self-serve quoting and underwriting.	Growth round · USD 40M · Jun 2026Gross written premium of USD 275M exiting 2025 · Dec 2025	Last known equity round: Growth round · USD 40M · Jun 2026 (Zeev Ventures; Ibex Investors, Peakline, Alpha Partners, Meitar Partners)Method	Be the first	Back
24	Naked#8 in South AfricaLicensed digital insurer selling car, home and contents insurance in South Africa through an app that quotes, binds and handles claims with automated, AI-assisted processes.	Series B2 · USD 38M · Jan 2025Key metrics not disclosed	Last known equity round: Series B2 · USD 38M · Jan 2025 (BlueOrchard, Hollard, Yellowwoods, IFC)Method	Be the first	Back
25	OttonovaDigital private health insurer in Germany offering full and supplementary health cover with app-based claims, chat advice and appointment services, and licensing its insurance software.	Series F · USD 34.5M · Sep 2022Key metrics not disclosed	Last known equity round: Series F · USD 34.5M · Sep 2022 (Cadence Growth Capital)Method	Be the first	Back
26	Hellas Direct#3 in GreeceLicensed digital insurer selling motor, home and health insurance direct to consumers in Greece and Cyprus through an online platform with in-house claims and roadside assistance.	Series B · USD 32.4M · Feb 2024Key metrics not disclosed	Last known equity round: Series B · USD 32.4M · Feb 2024 (ETF Partners, Portage Ventures, IFC, EBRD)Method	Be the first	Back
27	HedvigLicensed digital insurer in Sweden selling home, contents, car, pet and accident insurance through an app with instant sign-up and chat-based claims. · Controlled by Adelis	Majority investment round · USD 31.4M · Mar 2023Premium volume of SEK 429M in 2025, up 28% · 2025	Last known equity round: Majority investment round · USD 31.4M · Mar 2023 (Adelis; Nicklas Storakers, SEB)Method	Be the first	Back
28	ZegoCommercial motor insurer for gig-economy drivers, couriers and fleets in the United Kingdom and Europe, using telematics and data to price policies sold online and through platforms.	Late-stage round with extension · USD 28M · Oct 2026Key metrics not disclosed	Last known equity round: Late-stage round with extension · USD 28M · Oct 2026 (Sompo; Indico Capital Partners, Explorer Investments)Method	Be the first	Back
29	ClearcoverDigital car insurer in the United States that prices and sells auto policies online and through partners, with app-based claims handled using automation and AI.	Equity offering (Form D) · USD 25M · Oct 2025Key metrics not disclosed	Last known equity round: Equity offering (Form D) · USD 25M · Oct 2025Method	Be the first	Back
30	AzosDigital life insurer in Brazil selling individual life and disability policies through a network of partner brokers, using automated underwriting and an online purchase and claims process.	Series C · USD 24M · Mar 2026Revenue more than doubled in 2025; insured capital over BRL 100bn · 2025	Last known equity round: Series C · USD 24M · Mar 2026 (Kaszek, Kevin Efrusy; Endeavor Catalyst)Method	Be the first	Back
31	Pineapple#14 in South AfricaLicensed digital insurer selling car, home and gadget cover in South Africa through an app with photo-based quotes, flexible premiums and an unclaimed premium refund model.	Series B · USD 21.3M · Nov 2023Key metrics not disclosed	Last known equity round: Series B · USD 21.3M · Nov 2023 (Futuregrowth, Talent10, MIC, Old Mutual ESD)Method	Be the first	Back
32	SofiaLicensed specialised health insurer in Mexico offering digital medical expense plans to companies and individuals, with app-based consultations and a network of doctors and hospitals.	Growth round · USD 21M · May 2026More than 1,300 business clients; renewal rate above 95% · May 2026	Last known equity round: Growth round · USD 21M · May 2026 (Kfund; Index Ventures, Kaszek, BID Lab, Kayyak Ventures)Method	Be the first	Back
33	PierDigital insurer in Brazil selling car and smartphone insurance through an app, with self-service inspection, AI-assisted claims and pricing aimed at previously uninsured customers.	Series B · USD 20.5M · Sep 2021Revenue of BRL 250M in 2025 · 2025	Last known equity round: Series B · USD 20.5M · Sep 2021 (Raiz Investimentos)Method	Be the first	Back
34	InsifyDigital insurer for freelancers and small businesses in the Netherlands, France and Germany, selling liability, business and income-protection policies online with automated underwriting.	Series B · USD 19M · Sep 2025Gross written premiums more than tripled since Series A extension · Sep 2025	Last known equity round: Series B · USD 19M · Sep 2025 (Evli Growth Partners; Munich Re Ventures, Accel, Opera Tech Ventures, Visionaries Club)Method	Be the first	Back
35	PolicyMeDigital life and health insurance provider that lets Canadians buy term life, critical illness and health and dental plans online, underwritten by partner insurers and also sold through partners.	Series B · USD 17.5M · Feb 202518,000+ customers, CAD 10bn+ coverage sold, profitable since mid-2024 · Apr 2025	Last known equity round: Series B · USD 17.5M · Feb 2025 (Securian Canada, Blue Cross Life)Method	Be the first	Back
36	JustosDigital car insurer in Brazil pricing auto policies with driving and vehicle data, sold online and through brokers, with app-based claims and its own insurance licence.	Growth round · USD 16.6M · Jun 2025Key metrics not disclosed	Last known equity round: Growth round · USD 16.6M · Jun 2025 (Ribbit Capital; Kaszek, Endeavor Catalyst, Scale-Up Ventures)Method	Be the first	Back
37	CrabiLicensed digital car insurer in Mexico selling auto policies online and through dealerships and financing platforms, using AI for pricing and claims handling.	Series A · USD 13.6M · Jun 2025Key metrics not disclosed	Last known equity round: Series A · USD 13.6M · Jun 2025 (Kaszek, Ignia; 30N Ventures, Redwood, Carao Ventures, Azuro Capital)Method	Be the first	Back
38	LakaInsurer for cyclists and light electric vehicle riders in the United Kingdom and Europe, offering bike and e-scooter cover with a collective model that caps premiums.	Series B · USD 10.4M · Jul 2025Key metrics not disclosed	Last known equity round: Series B · USD 10.4M · Jul 2025 (Ponooc, Achmea Innovation Fund, Autotech Ventures, Motive Partners)Method	Be the first	Back
39	Calingo InsuranceDigital insurer in Switzerland selling term life and disability insurance online, with fully digital underwriting, application and policy management for individuals and families.	Pre-Series A · USD 3.5M · Aug 2024Key metrics not disclosed	Last known equity round: Pre-Series A · USD 3.5M · Aug 2024 (emma Ventures; Zuercher Kantonalbank)Method	Be the first	Back

Back · Backing on Uback (pronounced “you back”) means declaring an Interest (free) or an Intention (coming soon). Backing does not mean that this company is raising funds or that a shareholder is selling shares, and it is not a commitment to invest. Any deal, through a funding round or a sale by an existing shareholder, is handled by a partner desk: the Fundraising Desk of the country for a round, the Secondary Sales Desk assigned to the company for a sale. · Terms

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Invest in neo-insurers, together

Uback aggregates investment intentions from business angels, family offices, corporates and sector specialists worldwide. Every ranked company already has professional investors on its cap table, who have negotiated a shareholders’ agreement: you don’t start from a blank page.

Strength in numbers

Alone, a small ticket opens no doors. Together, Backers carry weight.

Declare an Interest · free

On a company, whether or not it has agreed, or on a sector in a country, a region or worldwide. Up to 5 at a time, movable or withdrawn at any time.

Confirm it as an Intention · coming soon

When a pool’s Interests reach its confirmation threshold, Backers confirm them as paid Intentions.

A partner desk takes over

When a pool’s Intentions reach its critical mass, a floor amount estimated by the AI, the pool is passed to the country's Fundraising Desk, who presents this demand to the companies concerned and, if expectations converge, builds a transaction. A block of existing shares goes to the Secondary Sales Desk assigned to the company.

Closing

Capital raise or sale of existing shares: small tickets are pooled in a common vehicle set up by the partner desk. Each Backer decides whether to take part.

Uback does not advise, does not negotiate, collects nothing. Each funding round is run with the Fundraising Desk of the company’s country, each sale of existing shares by the Secondary Sales Desk assigned to the company, under the law that governs its shares.

Get notified when Intentions open What happens after my declaration? Interests: free, open now · Intentions: coming soon, once the Fundraising Desk signs · price per ticket band · valid for life · movable until you sign with a partner desk

Challengers

A registered company raising funds that is not in the ranking will be able, for a fee, to appear in a separate list labelled “Challengers”, for a set period, with a memo available to verified Backers. The listing has no effect on the ranking. Not open yet.

Sponsored space · no Challenger listed yet

Radar · known eligible companies, not ranked

Sorted by date of last round, with no judgement and no AI call.

Angle Health · United States · North AmericaDec 2025Back
Vouch · United States · North AmericaFeb 2025Back
Sami · Brazil · Latin America & CaribbeanDec 2024Back
Getsafe · Germany · EuropeMar 2022Back

Listed benchmarks

Not ranked: no intention is possible on a listed company.

Oscar Health · United StatesNYSE · OSCR · USD 9.56bn (Oct 2026)
Lemonade · United StatesNYSE · LMND · USD 3.49bn (Oct 2026)
Ethos · United StatesNasdaq · LIFE · USD 2.7bn (Oct 2026)
Go Digit · IndiaNSE · GODIGIT · USD 2.69bn (Sep 2026)
ZhongAn · ChinaHKEX · 6060 · USD 2.4bn (Aug 2026)
Hippo · United StatesNYSE · HIPO · USD 1.02bn (Oct 2026)
Root Insurance · United StatesNasdaq · ROOT · USD 803M (Oct 2026)

Sources and method for this segment

Calendar. Global segment rankings are published twice a year. Next edition: December 18, 2026.

Eligibility. At least $1M raised in equity, non-listed company, main activity in this segment (neo-insurers). A company appears in one segment only.

Sources. Company announcements, Bloomberg, Reuters, TechCrunch, Insurance Journal, Coverager, Sifted, Finextra, Valor Econômico, Inc42, Entrackr, The Economic Times, and market data for listed companies.

Method and rules, common to all rankings →