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The Insurtech Map Report


As the insurance industry evolves at an unprecedented pace, staying ahead of emerging trends and key players is more critical than ever. The Insurtech Map serves as a key resource for navigating this transformation. Featuring over 200 startups from Germany, Austria, Switzerland, and Liechtenstein (DACH region), the map provides a comprehensive view of the innovation that had shaped the industry in 2024.


With each yearly report, we highlight the latest startups, investment rounds, and technological breakthroughs driving the future of insurance. Startups are indicators of where true innovation is happening, where investments are flowing, and where the industry's future is being shaped.


Industry Trends and Market Evolution

The insurtech landscape in the region continues to mature, aligning with broader European trends.


The Role of Generative AI

Insurtechs are increasingly leveraging Generative AI (GenAI) to drive efficiency and innovation across key areas of the insurance process:

  • Customer Experience: AI-powered personalization is transforming the way insurers interact with customers, leading to better-tailored policies and services. This results in improved customer retention and higher Net Promoter Scores (NPS), as customers feel more valued and understood. Here are some examples of thriving startups on  the map using this technology: Muffintech, Enterprise Bot

  • Claims & Fraud Detection: Automation through AI is revolutionizing claims handling by speeding up processes and reducing human error. AI systems are also being developed to help customers better understand their policies and prevent fraud. EXB, Omni:us 

  • Risk Assessment & Pricing: AI-driven underwriting models are enabling insurers to process vast amounts of data more efficiently. By automating document analysis and providing real-time insights, these models help underwriters deliver faster, more accurate pricing, reducing costs and improving risk management. Lumnion


“Generative AI (GenAI) is one of the greatest disruptive technologies that has emerged and is here to stay. GenAI-driven solutions are now the norm, significantly enhancing efficiency in core processes. These solutions improve precision in underwriting (UW) and claims assessments, enabling highly customized customer interactions.” Swiss Insurtech Hub Team





Investment & Strategic Moves


In 2024, the global insurtech sector experienced a slight decline in investment funding, with notable regional variations, including the DACH region.


DACH Region and European Context:

  • European Funding Trends: Europe as a whole experienced a 21% decrease in insurtech funding, totaling $1.8 billion across 61 deals, down from $2.2 billion in 2023. B2B Software as a Service (SaaS) startups accounted for 43% of total insurtech funding so far in 2024. mundiventures.com.

  • ELEMENT's funding round highlights the growing importance of digital platforms in the insurance sector. By streamlining the delivery of insurance products through a flexible, partner-centric model, ELEMENT exemplifies how InsurTech firms can drive innovation and efficiency in a traditionally conservative industry. ELEMENT, German InsurTech innovator, secures €50m in latest funding round . 


Funding Rounds Shaping the Ecosystem

Despite economic uncertainties, over the past months, we have seen important fundraising : 

  • Bolttech: In December 2024, bolttech, a global insurtech, announced a Series C funding round led by Dragon Fund, aiming to drive its continued expansion. Bolttech

  • Wefox: Wefox, a prominent German insurtech, raised €170 million in a funding round led by Searchlight Capital Partners in December 2024, maintaining its valuation at $4.5 billion. Insurtech Insights





New DACH Insurtech Startups in 2024


A Diverse Range of New Players

This year, we welcomed a variety of startups across different segments of the insurance value chain. From Marketing & Distribution to Claims & Customer Service, these companies are redefining how insurance is sold, processed, and managed.


The following startups joined the Insurtech Map in 2024:

  • Smart Paws

  • GARANTIEMAX GmbH

  • Preventinno

  • Hesse Digital

  • Corify

  • Lumnion

  • Calvin Risk

  • noimos

  • muffintech

  • legal-i

  • INSRD

  • cartinx

  • Avian AG

  • aestimo

  • Qoveria


The Latest Entries: A Look at Q4 2024

In the final quarter of the year, two startups stood out with innovative solutions designed to enhance policy management and financial security.


Humbrela

Humbrela is an AI-powered insurance and warranty management platform designed to revolutionize policy handling and claims management. By leveraging automation, Humbrela makes insurance processes faster, more seamless, and highly customer-friendly. Humbrela


Gut Geregelt

Gut Geregelt is a Swiss digital platform that simplifies retirement planning and legal documentation. With features like living wills, power of attorney, and digital estate planning, it brings much-needed efficiency and accessibility to personal financial management. Gut Geregelt

These new additions reflect the evolving landscape of insurtech, with a strong focus on automation, embedded insurance, and financial planning solutions.



The DACH insurtech ecosystem continues to mature, striking a balance between innovation, regulation, and sustainability. As we move into 2025, we anticipate further consolidation, deeper AI adoption, and a stronger focus on embedded insurance models.

With insights from the Insurtech Map, this report captures the pulse of an industry in transformation. Stay connected with the latest updates and developments at Insurtech Map.



Acknowledgements

 

The Insurtech Map is an initiative by HITS - House of Insurtech Switzerland. 


The Insurtech Map is a co-creation by HITS - House of Insurtech Switzerland, Swisscom, Clara, and Institut für Finanzdienstleistungen Zug IFZ.




Sources:

CBInsights, SONR, MundiVentures, 



 
 
 

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