Best InsurTech Companies in Canada
The 244 best InsurTech companies in Canada in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: League.
Canada's InsurTech sector has a story worth knowing, and this directory ranks the best InsurTech companies in Canada by disclosed equity funding and recent funding momentum across 244 tracked players. Total disclosed capital sits at $702M, with League commanding a striking $242M of that alone. No unicorns yet, but the concentration at the top is real. The global market was valued around $16.6B in 2021 and is forecast to reach $165.4B by 2032 at a 30.34% CAGR, driven by rapid digitization of insurance services and demand for tailored coverage. That tailwind is reaching Canada's founders too.
So what's actually moving right now? AI claims processing and digital insurance platforms are the hot themes this quarter, and the funding signals elsewhere confirm the appetite. Pibitai's $7M raise shows early-stage InsurTech still pulling institutional interest, while Onsurity's 80% revenue growth in FY24 signals that digital-first insurance models can scale fast once distribution clicks. I'd keep an eye on how Canadian startups like PolicyMe and Quandri navigate data privacy pressures, which remain a structural drag across the sector. The investors backing this space, Luge Capital, BDC, MaRS Discovery District, know that regulatory friction is real, but you don't raise $702M collectively without a credible path through it.
- Top Insurtech Companies
Our analysis of 50 InsurTech companies
$13.8b in tracked funding; 100% of the stack-profiled cohort runs cloud-native; funding activity peaked in 2025.
Ranked: Best InsurTech companies in Canada
| # | Company | Disclosed funding | Last round | Employees | Founder | Tech stack | Web popularity | Recent signals |
|---|---|---|---|---|---|---|---|---|
| 1 | League Provider of SaaS based digital platform to manage employee health benefits 80Tech top 18%Funding top 23%Innovation top 27%Patents top 27% All 12 signals ▾Techtop 18% Fundingtop 23% Innovationtop 27% Patentstop 27% Moattop 31% Growthtop 35% AItop 45% Customerstop 45% Producttop 46% Marketbottom 47% Globalbottom 41% Newsbottom 37% Tech: 72 technologies across 6/8 capability areas · Cloud: Amazon Cloudfront, Amazon S3 Funding: Raised $242M across 5 rounds · 5 rounds over 12 yrs (0.4/yr) rank vs industry peers · Fliar Intelligence Index 80/100 | $242M | 15 mo ago | 136 | — | WordPress Block EditorUnbounceWordPress+45 | Top 5M | 1 launch · 1 partnership |
| 2 | Rates.ca Online insurance comparison platform for individuals | $51M | 63 mo ago | 400 | Igal Mayer President & CEO | SentryZendeskApple iCloud Mail+25 | Top 1M | — |
| 3 | NGrain Developer of 3D and AI solutions for damage assessment | $46M | 155 mo ago | 37 | — | — | — | — |
| 4 | Owl Technologies KYC solutions for banks and insurance companies | $40M | 55 mo ago | 89 | Sean Merat Co-Founder & CEO | Apple iCloud MailGoogle WorkspaceNode.js+25 | Top 10M | 2 awards |
| 5 | Zafin Banking software solutions to the financial services industry | $32M | 88 mo ago | 51 | Charbel Safadi Chief Executive Officer | WordPressApple iCloud MailMicrosoft 365+31 | Top 5M | 2 launchs |
| 6 | Apollo Insurance Online P&C insurance comparison platform for individuals and businesses | $25M | 24 mo ago | 79 | David Dyck Chief Marketing Officer | Founder | ContentfulSentryApple iCloud Mail+23 | Top 1M | 1 launch · 2 partnerships · 1 award |
| 7 | BOXX Insurance Provider of cyber insurance and security solutions for businesses and homes | $24M | 40 mo ago | 43 | Vishal Kundi Founder & CEO | WordPressMySQLPHP+38 | Top 10M | — |
| 8 | NexJ Customer management solution for financial industries | $22M | 181 mo ago | 100 | — | — | — | — |
| 9 | ProNavigator AI-based insurance chatbot for brokers | $16M | 45 mo ago | 38 | Joseph D'Souza Founder & CEO | — | — | — |
| 10 | PolicyMe Online life insurance comparison platform for individuals 64Tech top 25%Market top 35%Talent top 38%Moat top 39% All 8 signals ▾Techtop 25% Markettop 35% Talenttop 38% Moattop 39% Fundingtop 43% Growthbottom 48% Globalbottom 39% Newsbottom 18% Tech: 47 technologies across 6/8 capability areas · Cloud: Amazon Alb, Amazon Cloudfront Market: 2,802 employees (top 2% of FinTech) · Top-1,000,000 web property rank vs industry peers · Fliar Intelligence Index 64/100 | $16M | 14 mo ago | 2,802 | Andrew Ostro Co-Founder & CEO | WebflowSentryMarker+35 | Top 1M | — |
| 11 | Relay Platform for automating the reinsurance application processes | $15M | 61 mo ago | 35 | Greg Boutin CEO | — | — | — |
| 12 | 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 | 17 mo ago | 40 | Fedor Suprychev Co-Founder & Software Engineering Lead | WordPressMySQLPHP+19 | Top 10M | — |
| 13 | Finn AI based virtual assistant for banking and financial services | $14M | 91 mo ago | 43 | — | — | — | — |
| 14 | Foxquilt Platform enabling formation of social groups to avail insurance savings 42Growth top 35%Moat top 39%Tech top 41%Funding top 44% All 10 signals ▾Growthtop 35% Moattop 39% Techtop 41% Fundingtop 44% Producttop 49% Talentbottom 49% Innovationbottom 46% Globalbottom 36% Marketbottom 35% Newsbottom 21% Growth: Fresh capital in last 24 mo Moat: Editorial + unicorn rating 7/10 · 10 curated direct competitors tracked rank vs industry peers · Fliar Intelligence Index 42/100 | $11M | 13 mo ago | 52 | Mark Morissette Founder & CEO | SanityApple iCloud MailGoogle Workspace+20 | Top 10M | 1 partnership |
| 15 | Quandri Provider of AI-driven platform that automates insurance renewals and provides insights 60News top 27%Growth top 30%AI top 30%Partners top 32% All 12 signals ▾Newstop 27% Growthtop 30% AItop 30% Partnerstop 32% Innovationtop 36% Fundingtop 38% Producttop 38% Talenttop 38% Techbottom 48% Moatbottom 38% Globalbottom 36% Marketbottom 28% News: 7 BI events in 12 mo (of 15 tracked, 5 types) · +40% YoY Growth: Fresh capital in last 24 mo rank vs industry peers · Fliar Intelligence Index 60/100 | $10M | 11 mo ago | 22 | Jamieson Fregeau Co-Founder | WebflowApple iCloud MailGoogle Workspace+22 | Top 10M | 1 launch · 1 award |
| 16 | Cyberboxx Online cyber insurance platform for small & medium businesses | $10M | 56 mo ago | — | Mike Senechal Co-Founder | — | — | — |
| 17 | EquiSoft Provides digital solutions for insurance and wealth management organizations | $9M | 39 mo ago | 900 | — | Craft CMSApple iCloud MailMicrosoft 365+29 | Top 5M | — |
| 18 | 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 | 22 mo ago | 19 | — | WebflowUnbounceAmazon Web Services+21 | Top 10M | 3 job openings · 1 partnership |
| 19 | Breathe Life Digital marketing solutions for insurers | $8M | 69 mo ago | 60 | — | — | — | — |
| 20 | Emma Online life & auto insurance comparison platform for individuals | $7M | 42 mo ago | 43 | Guillaume Plante Co-Founder | WebflowApple iCloud MailGoogle Workspace+16 | Top 1M | — |
| 21 | Koos Intelligence Provider of AI-based database solutions for insurance services | $6M | 37 mo ago | 26 | — | — | — | 2 launchs · 1 partnership |
| 22 | Goose Digital insurance provider offering a range of insurance solutions for individuals | $6M | 40 mo ago | 20 | Omar Kaywan Co-Founder | StoryblokApple iCloud MailGoogle Workspace+11 | Top 10M | — |
| 23 | Finaeo Cloud based platform offering insurance solutions | $6M | 73 mo ago | 21 | Aly Dhalla CEO / Co-Founder | — | — | — |
| 24 | Symbility Solutions cloud-based and mobile-enabled software for Claims management | $5M | 135 mo ago | 174 | — | WordPressMySQLPHP+12 | Top 5M | — |
| 25 | Camilion Insurance policy and product management software | $5M | — | — | Bill McDermott CEO | — | — | — |
| 26 | 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 | 12 mo ago | 9 | Karthik Ramakrishnan Co-Founder & CEO | — | — | 1 partnership |
| 27 | Sortspoke Platform offering data extraction software | $5M | 51 mo ago | 21 | — | HubSpot CMS HubAmazon Web ServicesPostHog+16 | Top 50M | — |
| 28 | GaleForce Solutions CRM for the financial service industry | $4M | 241 mo ago | — | Aziz Pirani President & CEO | — | — | — |
| 29 | Intelligent Mechatronic Systems Provider of telematics solutions for insurance | $4M | 154 mo ago | 140 | — | — | — | — |
| 30 | YouSet Provider of online platform for comparing and purchasing insurance policies | $4M | 21 mo ago | 13 | Xavier Freeman Co-Founder and CEO | WordPressMySQLPHP+36 | Top 1M | 1 launch · 5 partnerships |
| 31 | Fairly Provider of AI governance, risk, compliance management platform for enterprises | $3M | 38 mo ago | 12 | David Bruwaene Co-Founder & CEO | — | — | — |
| 32 | Terminal API-based platform for integration of telematic solutions into applications | $3M | 30 mo ago | 2 | — | TurbopackEmotionSentry+17 | Top 50M | 1 job opening |
| 33 | QuickFacts Provider of SaaS-based software solutions for insurance brokerage management | $3M | 22 mo ago | 16 | — | Node.jsReactNext.js+15 | Top 10M | 1 job opening |
| 34 | Cyno Online marketplace provides direct access to the experts | $3M | 49 mo ago | 19 | Joshua Dyck Co-Founder | — | — | — |
| 35 | SureBright Provider of an insurance-as-a-service platform | $3M | 24 mo ago | 16 | Kai Jia Co-Founder | WebflowAmazon Web ServicesMobX+23 | Top 5M | 1 launch · 2 partnerships |
| 36 | Vinco Employee education benefits platform for companies | $3M | 55 mo ago | 42 | Sofia Sada Co-Founder & CTO | Node.jsBootstrapExpress+20 | Top 10M | — |
| 37 | Scribble Data Machine learning-based business intelligence suites provider | $2M | 51 mo ago | 19 | Indrayudh Ghoshal Co-Founder & COO | WordPressMySQLPHP+31 | Top 10M | — |
| 38 | Zensurance Insurance platform for SMEs | $2M | 95 mo ago | 15 | — | Amazon WebstoreWordPressApple iCloud Mail+44 | Top 1M | 5 awards |
| 39 | inscora Cyber risk and vulnerability assessment solutions provider | $2M | 22 mo ago | — | Gabriel Tremblay Co-Founder & CEO | — | — | 1 launch |
| 40 | ClearRisk Web-based Risk management solutions for insurance industries & SMEs | $2M | 156 mo ago | 53 | Icd Craig Rowe President/CEO/Co-founder | HubSpot CMS HubApple iCloud MailGoogle Workspace+18 | Top 10M | 1 award |
| 41 | Covera Platform to renew insurance policies | $2M | 104 mo ago | — | Scott Loong Co-Founder & CEO | — | — | — |
| 42 | Analyze Re SaaS for reinsurers | $1M | 151 mo ago | 15 | Oliver Baltzer Co-Founder & CTO | — | — | — |
| 43 | 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 | 8 mo ago | — | Matti Parnanen Founder & CEO | — | — | — |
| 44 | CloudAdvisors Cloud-based data monitoring platform for insurance advisors | $228K | 94 mo ago | 22 | Matt Lister Co-Founder & CEO | — | — | 4 partnerships |
| 45 | Sitata Online platform that provides location-based health & other emergency information for travelers | $120K | 90 mo ago | 20 | Mark Pavlides Advisor to Founder | BreakdanceWordPressMySQL+16 | Top 5M | — |
Top 12 InsurTech companies in Canada
#1
Series C · Toronto, Ontario · founded 2014 · 136 employees$242Mraised▾
League provides a SaaS-based digital platform for employee health benefits. The platform gives employers tools to easily manage their benefits program and deliver healthcare services for employees. The web-based app gives the ability to create personal health spending accounts and tracks employee utilization. It also gives customized offerings for employees, delivered on-site by the best health professionals in the business.
- Feb 2025Series C—
- Feb 2022Series C$95M
- Dec 2021Series C$70M
- Oct 2019Series B—
#2
Series A · Vancouver, British Columbia · founded 2021 · 22 employees$10Mraised▾
Provider of AI-driven platform that automates insurance renewals and provides insights. The platform helps brokerages automate repetitive tasks, increase productivity, and drive higher retention rates. It unlocks insights from personal lines renewal policy data. The platform offers renewal reviews, policy requoting, and connectivity solutions.
- Jul 2025Series A$12M
- Jun 2023Series A$8.5M
- Oct 2022Seed$1.5M
#3
Series B · Toronto, Ontario · founded 2018 · 2802 employees$15.8Mraised▾
Online life insurance comparison platform for individuals. It provides quotes for term life insurance and whole life insurance. Its insurance partners include RBC Insurance, Manulife, Canada Life, and more. It also offers insurance claims assistance solutions.
- Apr 2025Series B$21.6M
- Apr 2025Conventional Debt—
- Sep 2022Series A$13.5M
- Jul 2022Conventional Debt$5M
#4
Series B · Toronto, Ontario · founded 2016 · 52 employees$11.1Mraised▾
Foxquilt is a platform which enables users to form social groups and using group purchasing power, avail savings on premiums, reduced deductibles and further savings at renewal. Leverages a sharing economy technology platform so that groups of individuals or businesses seeking the same type of insurance can band together to save. As of Oct'18, the platform is yet to launch a product.
- Apr 2025Series B$216.9K
- Jul 2023Series B$12M
- Sep 2021Series A$6.3M
- Feb 2020Seed$2.6M
#5
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
#6
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
#7
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
#8
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
#9
Series C · Vancouver, British Columbia · founded 2018 · 79 employees$24.9Mraised▾
Online P&C insurance comparison platform for individuals and businesses. It offers quotes for professional liability insurance, home insurance, auto insurance, health, beauty, fitness insurance, retail store insurance for retail stores, and more. It also offers claim assistance solutions for users.
- May 2024Series C$13.5M
- Mar 2022Series B—
- Jan 2021Series A$10.6M
- Apr 2019Angel$744.1K
#10
Seed · Montreal, Quebec · founded 2017 · 13 employees$3.9Mraised▾
Provider of online platform for comparing and purchasing insurance policies. The platform allows users to compare policies from multiple insurance providers. It offers various types of insurance, including car, home, tenant, and condo. Users can customize their coverage and purchase policies online or with expert assistance.
- Aug 2024Seed$2.6M
- Aug 2022Seed$1.3M
#11
Seed · Bedford, Nova Scotia · founded 2020 · 16 employees$2.8Mraised▾
Provider of SaaS-based software solutions for insurance brokerage management. It offers a platform that organizes insurance brokerage personal lines information and presents it on a single search-engine platform for their team.
- Aug 2024Seed$2M
- Feb 2023Seed$830.3K
#12
Seed · Montreal, Montreal · founded 2023$2Mraised▾
Cyber risk and vulnerability assessment solutions provider. It is an automated cyber risk assessment and sales enablement solutions for cyber insurance brokers.
- Aug 2024Seed$2M
Funding & investor landscape
Notable founders
Market landscape — 10 sub-themes by coverage
Share of InsurTech coverage by sub-theme.
Regulatory-risk over time rising
Funding & growth over time
funding rising · growth rising
How research on Insurtech is moving in Canada
A read on the academic research around Insurtech — which themes are gaining ground, the institutions and researchers driving them, and how the tone is shifting. Based on 5 Canada-affiliated papers.
- University of Toronto1
- Simon Fraser University1
- University of British Columbia1
- Université Laval1
- University of Waterloo1
- Actuarial science2
- Automobile insurance1
- Context (archaeology)1
- Explanatory power1
- Trajectory1
Common questions
Rohit lives in the feed. He covers what's moving right now — the funding rounds, launches and shifts breaking across the trade press — and ties them back to where the sector is heading.