Best Insurance IT Companies in Toronto, Canada
The 54 best Insurance IT companies in Toronto, Canada in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: Zafin.
Ranked: Best Insurance IT companies in Toronto
| # | Company | Disclosed funding | Last round | Employees | Founded | Founder | Tech stack | Recent signals |
|---|---|---|---|---|---|---|---|---|
| 1 | Zafin Banking software solutions to the financial services industry | $32M | 89 mo ago | 51 | 2002 | Charbel Safadi Chief Executive Officer | WordPressApple iCloud MailMicrosoft 365+31 | 2 launchs |
| 2 | BOXX Insurance Provider of cyber insurance and security solutions for businesses and homes | $24M | 41 mo ago | 43 | 2018 | Vishal Kundi Founder & CEO | WordPressMySQLPHP+38 | — |
| 3 | NexJ Customer management solution for financial industries | $22M | 182 mo ago | 100 | 2003 | — | — | — |
| 4 | Relay Platform for automating the reinsurance application processes | $15M | 62 mo ago | 35 | 2019 | Greg Boutin CEO | — | — |
| 5 | Lydia AI AI-powered platform offering health assessment and risk scoring services to insurance companies 53Talent top 28%AI top 30%Funding top 44%Tech top 44% All 9 signals ▾Talenttop 28% AItop 30% Fundingtop 44% Techtop 44% Growthtop 45% Productbottom 48% Globalbottom 38% Marketbottom 31% Newsbottom 22% Talent: 3 named leaders on record · 3 C-suite/founder profiles curated AI: Classified as an AI company · Product described with: ai-powered rank vs industry peers · Fliar Intelligence Index 53/100 | $14M | 18 mo ago | 40 | 2014 | Fedor Suprychev Co-Founder & Software Engineering Lead | WordPressMySQLPHP+19 | — |
| 6 | Cyberboxx Online cyber insurance platform for small & medium businesses | $10M | 57 mo ago | — | 2018 | Mike Senechal Co-Founder | — | — |
| 7 | Walnut Insurance Insurance product launch solution for businesses 37Tech top 29%Growth top 35%Funding top 45%Global bottom 29% All 6 signals ▾Techtop 29% Growthtop 35% Fundingtop 45% Globalbottom 29% Marketbottom 24% Newsbottom 18% Tech: 40 technologies across 6/8 capability areas · Cloud: Amazon Cloudfront, Amazon S3 Growth: Fresh capital in last 24 mo rank vs industry peers · Fliar Intelligence Index 37/100 | $9M | 23 mo ago | 19 | 2017 | — | WebflowUnbounceAmazon Web Services+21 | 3 job openings · 1 partnership |
| 8 | Finaeo Cloud based platform offering insurance solutions | $6M | 74 mo ago | 21 | 2016 | Aly Dhalla CEO / Co-Founder | — | — |
| 9 | Symbility Solutions cloud-based and mobile-enabled software for Claims management | $5M | 136 mo ago | 174 | 2002 | — | WordPressMySQLPHP+12 | — |
| 10 | Armilla AI Provider of AI insurance and AI software performance warranties for businesses 10AI top 30%Funding top 45%Moat top 48%Talent bottom 49% All 8 signals ▾AItop 30% Fundingtop 45% Moattop 48% Talentbottom 49% Globalbottom 39% Newsbottom 22% Marketbottom 18% Fin. healthbottom 8% AI: Classified as an AI company · Product described with: generative ai Funding: Raised $4.7M across 4 rounds · 4 rounds over 5 yrs (0.8/yr) rank vs industry peers · Fliar Intelligence Index 10/100 | $5M | 13 mo ago | 9 | 2020 | Karthik Ramakrishnan Co-Founder & CEO | — | 1 partnership |
| 11 | Sortspoke Platform offering data extraction software | $5M | 52 mo ago | 21 | 2015 | — | HubSpot CMS HubAmazon Web ServicesPostHog+16 | — |
| 12 | Terminal API-based platform for integration of telematic solutions into applications | $3M | 31 mo ago | 2 | 2023 | — | TurbopackEmotionSentry+17 | 1 job opening |
| 13 | SureBright Provider of an insurance-as-a-service platform | $3M | 25 mo ago | 16 | 2004 | Kai Jia Co-Founder | WebflowAmazon Web ServicesMobX+23 | 1 launch · 2 partnerships |
| 14 | Scribble Data Machine learning-based business intelligence suites provider | $2M | 52 mo ago | 19 | 2016 | Indrayudh Ghoshal Co-Founder & COO | WordPressMySQLPHP+31 | — |
| 15 | Zensurance Insurance platform for SMEs | $2M | 96 mo ago | 15 | 2016 | — | Amazon WebstoreWordPressApple iCloud Mail+44 | 5 awards |
| 16 | Ultrassure Provider of AI-powered contract intelligence solutions for the insurance industry, enabling searchable and… 35AI top 45%Talent bottom 49%Funding bottom 43%Global bottom 25% All 4 signals ▾AItop 45% Talentbottom 49% Fundingbottom 43% Globalbottom 25% AI: Product described with: ai-powered Talent: 1 named leader on record · 1 C-suite/founder profile curated rank vs industry peers · Fliar Intelligence Index 35/100 | $333K | 9 mo ago | — | 2025 | Matti Parnanen Founder & CEO | — | — |
Top 12 Insurance IT companies in Toronto
#1
Seed · Toronto, Ontario · founded 2020 · 9 employees$4.7Mraised▾
Provider of AI insurance and AI software performance warranties for businesses. It offers coverage for generative AI and AI agents, including AI system certification and risk reporting. The company’s policies address gaps across cyber, technology, errors and omissions, and general liability. It provides risk assessment, ongoing monitoring, and incident coordination services.
- Jun 2025Seed$1.3M
- Feb 2024Seed$3.3M
- Mar 2022Seed$500K
- Oct 2021Seed$1.2M
#2
Series A · Toronto, Ontario · founded 2014 · 40 employees$14Mraised▾
AI-powered platform offering health assessment and risk scoring services to insurance companies. It offers solutions for health assessment and data security. It analyses data to make risk predictions used to personalize individual experiences, accelerate underwriting practices, and develop insurance digital products.
- Jan 2025Series A—
- Sep 2021Series A$8M
- Nov 2018Series A$5M
#3
Seed · Toronto, Ontario · founded 2025$333Kraised▾
Provider of AI-powered contract intelligence solutions for the insurance industry, enabling searchable and structured analysis of insurance documents and accelerating underwriting processes.
- Oct 2025Seed$333K
#4
Seed · Toronto, Ontario · founded 2017 · 19 employees$8.6Mraised▾
Insurance product launch solution for businesses. Provides no-code integration options for development of insurance products, access to the widest variety of embedded products, in-platform branded insurance program, and more.
- Aug 2024Seed$4.6M
- Dec 2022Seed$4M
#5
Acquired · Toronto, Ontario · founded 2018 · 43 employees$24.5Mraised▾
Provider of cyber insurance and security solutions for businesses and homes. It offers tools to help prevent, respond to, and recover from digital risks. Coverage protects technology providers from claims related to software, service, or product failures. Support tools help businesses monitor threats, guide response, and strengthen cybersecurity. The company develops cyber protection services to enable corporate partners to provide solutions to their customers.
- Jan 2023Series B$14.4M
- Sep 2021Series A$10M
#6
Seed · Toronto, Ontario · founded 2004 · 16 employees$2.6Mraised▾
Provider of an insurance-as-a-service platform. It enables businesses to embed insurance and warranty products on their website. It enables businesses to connect, embed, and increase the average order values. It helps them to create a merchant setup, improve purchase conversion, and process claims.
- 2024Seed$500K
- Aug 2022Seed$2.5M
#7
Seed · Toronto, Ontario · founded 2023 · 2 employees$3.1Mraised▾
API-based platform for integration of telematic solutions into applications. The platform enables users to track vehicle location, report unsafe driving behaviors, monitor driver's hours of service, fleet management, and more.
- Dec 2023Seed$3.1M
#8
Acquired · Toronto, Ontario · founded 2002 · 51 employees$32.2Mraised▾
Banking software solutions to the financial services industry. It covers relationship banking for retail, corporate, wealth management and correspondent banking. The software suite, miRevenue, is a complete product and pricing lifecycle management.
- Jan 2019Series B$17.2M
- Nov 2014Series B$15M
- Dec 2013Conventional Debt$5M
#9
Acquired · Toronto, Ontario · founded 2019 · 35 employees$15.4Mraised▾
Relay offers a platform for automating the reinsurance application processes. It offers data submissions, insights & analytics, power user options, blockchain-based document authentication, email, rating, underwriting, and accounting systems.
- May 2021Series A$7.2M
- May 2021Seed$5.2M
- Jan 2020Seed$3M
#10
Series A · Toronto, Ontario · founded 2018$10Mraised▾
Cyberboxx provides an online cyber insurance platform for small & medium businesses. It offers coverage for data hacking, data breaching, data security, and more. It also offers quoting and binding software for insurance brokers. It offers subscription-based insurance policies.
- Sep 2021Series A$10M
#11
Acquired · Toronto, Ontario · founded 2003 · 100 employees$22.5Mraised▾
NexJ Systems is a cloud-based, enterprise CRM solutions for financial services, insurance, and healthcare industries.The Software combines artificial intelligence and industry-specific functionality with information from multiple applications and data stores to provide comprehensive knowledge of the individual customer. By encouraging ongoing, frequent interactions, NexJ solutions help organizations establish strong and trusted relationships with their customers.
- May 2011Post IPO$390.8K
- Apr 2010PE$22.5M
- Series A$10M
#12
Series A · Toronto, Ontario · founded 2015 · 21 employees$4.5Mraised▾
Platform offering data extraction software. It helps in organizing and extracting data from PDFs such as contracts, emails, invoices, financial statements, certificates, identifications, etc. It leverages AI and ML to convert PDF documents into data. It allows users to upload the documents, and returns human reviewed extracted data. It enhances the document review process for contracts, statements, and appraisals.
- Mar 2022Series A$4.5M
Funding & investor landscape
Notable founders
Market landscape — 10 sub-themes by coverage
Share of Insurance IT coverage by sub-theme.
Regulatory-risk over time rising
Funding & growth over time
funding rising · growth rising
Common questions
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