Top 10 startups in Insurance IT in Berlin, Germany - Tracxn (2024)

1. Wefox

App-based P&C insurance comparison platform for individuals

unicorn

Founded Year
2015
Investors

Deutsche Bank, Barclays

and 57 Others

Location
Berlin (Germany)
Tracxn Score
74/100What is this?

Stage
Series D

Competitors Rank
1 of 60 Competitors

Funding
$1.52B

App-based P&C insurance comparison platform for individuals. It offers quotes for motor, personal liability and household insurances. It offers a platform for users to manage policies digitally. The app is available for Android and iOS platforms.

2. Element

Insurance as a service platform offering private property and casualty insurance

soonicorn

Founded Year
2016
Investors

Global Brain, SBI

and 15 Others

Location
Berlin (Germany)
Tracxn Score
57/100What is this?

Stage
Series B

Competitors Rank
1 of 17 Competitors

Funding
$90.2M

Insurance as a service platform offering private property and casualty insurance. It offers a modular insurance API engine that enables digital businesses to launch custom insurance products. Businesses can use the white-label platform for real-time price calculation, underwriting, or mid-term policy adjustment.

3. Coya

Online platform that provides usage-based insurances

Founded Year
2016
Investors

Headline, InsurTech Directory

and 13 Others

Location
Berlin (Germany)
Tracxn Score
51/100What is this?

Stage
Acquired

Competitors Rank
1 of 17 Competitors

Funding
$40M

Online platform that provides usage-based insurances. It offers insurance solutions for bicycles, e-bike, dog liability, household, personal liability, and more. It offers coverage for theft, fire, storm & hail, water, and burglary & robbery. It offers customizable policies on a monthly basis.

4. omni:us

AI-based claims management solutions for the insurance industry

soonicorn

Founded Year
2015
Investors

Plug and Play Tech Center, Target Global

and 20 Others

Location
Berlin (Germany)
Tracxn Score
50/100What is this?

Stage
Series A

Competitors Rank
3 of 112 Competitors

Funding
$52.7M

AI-based claims management solutions for the insurance industry. It offers products for reduced bounce rate from online claims, coverage checks for automation procedures in the claims handling process, claims indexation for claims document management, and completeness checks for real-time claims settlement. It provides access to structured data to mitigate risk and prevent leakage through advanced predictive analysis.

5. Simplesurance

Point of sale insurance solutions

Founded Year
2012
Investors

KfW, German Startups Group

and 25 Others

Location
Berlin (Germany)
Tracxn Score
50/100What is this?

Stage
Acquired

Competitors Rank
8 of 314 Competitors

Funding
$78.2M

Simplesurance offers insurance solutions to e-commerce and retail businesses. It provides insurance for device, home appliance, car, pet, travel, cyber, etc. It enables cross-selling of insurances at point of sale at e-commerce sites by integrating at the checkout process. It provides product insurance to consumers through local retail stores. It offers a digital broker solution which enables consumers to manage their policies digitally and can be accessed via mobile or web app. Consumers can also reach their personal broker via phone, in-app chat or email. The solution can be integrated through web plugin, partner portal, API plugin or white-label shop.

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6. Teraki

Provides AI-enabled edge processing platform for automotive industry

minicorn

Founded Year
2014
Investors

Paladin Capital, Alumni Ventures

and 18 Others

Location
Berlin (Germany)
Tracxn Score
49/100What is this?

Stage
Series A

Competitors Rank
3 of 14 Competitors

Funding
$16.3M

Teraki provides an AI-enabled edge processing platform for the automotive industry. It offers embedded software that works as an enabler for current and future IoT/M2M applications. It claims that its solutions reduce the amount of data generated by sensors by up to a factor 10 without compromising its quality. The solution enables the applications to pre-process the sensor data for better decision making. It embeds on one side in the CPU & RAM-constrained chipsets of cars and integrates on the other side at a customer’s backend for the storage, labelling, training, and analysis of reconstructed or reduced data.

7. Friendsurance Business

White-label solutions for insurance businesses

minicorn

Founded Year
2010
Investors

Horizons Ventures

and 1 Other

Location
Berlin (Germany)
Tracxn Score
39/100What is this?

Stage
Series A

Competitors Rank
51 of 466 Competitors

Funding
$15.3M

Friendsurance Business is a white-label platform offering diversified solutions to insurance businesses. It is based on a flexible business model and offers tech solutions for issuing policies, handling payments, curating & optimizing policies, and a simple sign-in process.

8. EMIL

Provider of usage-based auto insurance

Founded Year
2017
Investors

10x Value Partners, Schumpeter Ventures

and 2 Others

Location
Berlin (Germany)
Tracxn Score
34/100What is this?

Stage
Funding Raised

Competitors Rank
4 of 17 Competitors

Provider of usage-based auto insurance. It offers two types of policies- liability partial coverage for loss or damage and liability fully comprehensive for loss, damage, and accidental coverage. Its policy management app facilitates the claim, breakdown, and customer services like GPS tracking, nearby gas station locator, and online parking tickets.

9. FinanceAds

Marketing campaigns and advertising solutions for banks and insurance industry

Founded Year
2014
Investors

FinLeap, Vealo Ventures

and 3 Others

Location
Berlin (Germany)
Tracxn Score
28/100What is this?

Stage
Funding Raised

Competitors Rank
202 of 2,409 Competitors

Marketing campaigns and advertising solutions for banks and the insurance industry. It offers solutions for GDPR-compliant tracking, real-time statistics, products comparison calculator, and more. It also offers advertising material for users.

10. muffin

Platform developing software for insurance sectors

Founded Year
2021
Investors

Techstars

and 1 Other

Location
Berlin (Germany)
Tracxn Score
26/100What is this?

Stage
Seed

Competitors Rank
25 of 65 Competitors

Funding
$20K

Platform developing software for insurance sectors. It offers multiple insurance services including liability insurance, travel insurance, and legal protection insurance.

Top 10 startups in Insurance IT in Berlin, Germany - Tracxn (2024)
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