This article showcases our top picks for the best Spain based InsurTech companies. These startups and companies are taking a variety of approaches to innovating the InsurTech industry, but are all exceptional companies well worth a follow.
We tried to pick companies across the size spectrum from cutting edge startups to established brands.
We selected these startups and companies for exceptional performance in one of these categories:
- Innovative ideas
- Innovative route to market
- Innovative product
- Exceptional growth
- Exceptional growth strategy
- Societal impact
Top Spain InsurTech Companies
Coverfy APP is a free mobile insurance manager that simplifies and solves all insurance-related issues for its users. The APP optimizes user´s insurance policies and covers all his insurance needs using digital technology and semi-authomatic algorithms.
Coverfy is an insurance broker registered at the General Directorate of Insurance and Pension Funds (DGSFP) and acting independently from the insurance companies.. .
Cleverea is the P&C neoinsurer for the millennial generation. We focus on a B2B2C distribution strategy with partners like neobanks, insurers/insurtechs, brokers, airlines, etc.
We conceptually design, technologically develop and stretegically distribute highly disruptive insurance products across the whole customer journey.. .
Livetopic is a online algorithmic advisor that performs a detailed and independent analysis of the economic and financial situation of a person. Our automated consultant analyzes your situation to show your degree of protection and what to do in case of retirement, disability, widowhood, orphanage and sick leave.
And best of all, you can view your analysis comfortably from anywhere, without having to make endless views to a consultant. We give you your financial passport, unique and non-transferable, which defines your current financial situation and forecasts for the future.
Without marks, without compromises. The passport will contain useful information so that you look to the future with peace of mind and the best selection of offers..
Finnovista Finnovista is an impact organization that empowers the transformation of the financial services and insurance industries by building between large corporates and Fintech & Insurtech startups with the purpose of creating a better world. Founded in 2012, Finnovista works with entrepreneurs and large corporates through collaborative activities such as conferences, acceleration and scale-up programs, startup engagement programs and innovation programs to drive their innovation journey and transformation.
Finnovista has consolidated as the most active Fintech investor and one of the most relevant players in the startups ecosystem in Latin America. Finnovista promotes FINNOSUMMIT, the leading conference in Fintech & Insurtech in Latin America and develops Startupbootcamp acceleration and scale-up programs and corporate innovation programs for clients such as Visa, BBVA, HSBC, Scotiabank and Fiinlab by Gentera.
Finnovista is part of Rainmaking Group, a global leader in corporate innovation and venture development.. .
FinTechStage engages financial services professionals, regulators, investors, entrepreneurs, technology partners and governments to build trusted and enabling FinTech tribes around the world. We firmly believe that innovation in Financial Services will improve people’s lives.
Through the immersive events they connect global industry experts with local financial services communities to explore, challenge and solve important issues related to FinTech, RegTech, InsurTech, Artificial Intelligence and Financial Inclusion.. .
Millennials are growing up and they have difficulties to save for medium and long-term goals, they don’t have ways to manage finances and they think investment products are only for professional investors and hard to access. In fact, they don’t have a fully digital planner/advisor for their major life investments.
Talvi is the only automated financial advisor offering financial planning, investment management, financial education and banking-related services all on a mobile app. We partner with corporates to distribute Talvi through their customer base.
Talvi = Goal Planning + Learning + Savings + Automated Investments + Transactional Marketplace (home sellers, mortgages, car sellers, lending, insurances, etc). .
First insurance Marketplace offering covers for 100% digital on-boarding. Current Insurance products and underwriting processes are defined to be sold trough offline channels.
Weecover reshapes current product portfolio and underwriting processes using a top notch technology to facilitate online on-boarding processes for Companies, Customers and Distribution partners.Weecover has developed an in-house technology which supports digital quote & buy process for any insurance product. Weecover has implemented its solution in several large Companies on-boarding solutions which are and enabling Companies to allocate the insurance offer right in the check out process for e-commerce and transactional platforms.
Large utility companies like Telefonica and Endesa and some others are using our software.. .
Catalana Occidente is a property and casualty company that operates in the global insurance market as well as the global credit insurance market. It generates most of its revenue from Spain and other European countries.
The company’s revenue is generally split between its traditional insurance business and its credit insurance activity. Its traditional insurance business includes residential, commercial, auto, and life insurance products.
Grupo’s credit insurance business protects companies from the default risk associated with selling products and services on credit.. .
Motopoliza is a price comparison app that specializes in motorcycle insurance. Andrés de Suñer, Sergio Fernández, Miguel Caldés, Antonio Santolaya, and Santiago Zabala founded this insurtech in 2009 that has as mission to facilitate, thanks to the internet, the relationship of the consumer with their insurance in the field of comparison, contracting and after sales service.
Its legal form is that of insurance brokers, working with a total of 23 different companies, where they examine all their offers to bring them closer to users. All this through a creative commitment that gives the user a clear, impartial and efficient experience with their insurance.
The platform summarizes the usefulness of the various products of insurance companies, focusing on the analysis of their characteristics and utilities. At the moment they have not received external capital and operates exclusively in Spain, where they have gained recognition of the sector.
Proof of this is the Innovation prize in the Insurance Week of Spain and the Gema prize in the Insurance Week for the most innovative Project, both delivered to the company in 2011. Its differential value lies in a team with extensive experience in the sector, the use of cutting-edge technology and the 360º experience that they offer to the user.
Motopoliza carries out a personalized study according to the needs of the clients, in a continuous dialogue with the insurers. In just 60 seconds, perform the most detailed product search and in less than four minutes the contract can be closed.
At the same time, the client is in constant communication with the online platform, or can even contact by phone to guarantee the clarity of the service and resolve possible doubts or incidents. In addition, the platform also has a special section so that amateur riders can have specific insurance in the event of a circuit accident.
Mykeys is a technology company that provides an app to store keys in the cloud and get a copy when you need it, and an SaaS for centralized and automated key management using our platform. Our unique software is able to recognize more than 200 types of keys using artificial intelligence and image processing, and allows to get a copy from a locksmith – not a simple 3D print copy but a real key with digital quality.
It’s the first company in Europe with a key recognition technology that allows to duplicate without having the physical key. Our solution is designed for both B2B and B2B2C.
From private users who want to digitize their key and reduce the risks of running out of it, to companies that manage multiple assets including insurance companies, property agencies, real estate, tourism apartaments, etc. Anyone with a key! The algorithm developed by the Mykeys team is capable of identifying all types of keys, allowing scalability and internationalization without large investments in new developments, proof of which is the distribution agreement in Puerto Rico and the USA with a local company.
A distribution agreement with the Keyline partner for distribution in Italy and Portugal is expected to be concluded during 2020. Our business model is based on digitization and custody of the key and on the other hand on the use of the Web Portal as a differential service for companies..
PuntoSeguro is a life insurance comparison website that provides its users with tools to compare insurance policies and select the most suitable policy that best suits their needs. It allows its users to compare prices and coverage of the best insurance companies in Spain by filling a form on the site.
It also offers other insurance policies such as insurance of death, repatriation, accident, and business. It works with over 15 insurance companies.
The website is financed through the intermediation of insurance policies. Launched in 2001, PuntoSeguro is operated from Madrid, Spain..
Gistek Insurance Solutions
GISTEK INSURANCE SOLUTIONS is a company that develops disruptive solutions for the insurance sector, that is, what is known today as an InsurTech company (a company that applies new technologies to new solutions in the field of insurance). www.gistek-s.com
GISTEK was established in 2004 due to the need to develop and apply new technologies in the field of insurance.
Ubiquos 5.0 is our Insurtecth system that allows to appear at risk through the telepresence technique, via Internet connection (mobile or web), making a high-quality video communication between the resident technician (on-site) and the person mobile device physically at risk. Ubiquos 4.0 with different techniques of AI as: Deep Learning, Machine Learning and Computer Vision, streamlines the claim resolutions.
The main difference respect our competitors is the use of Artificial Intelligence techniques to evaluate automatically the car’s claims. In this case, we develop a system capable of resolve automatically auto’s claims with Deep Learning and Computer Vision methods. In insurtech field it is an innovative system to help experts to resolve claims.
SaaS Enabled Marketplace Platform Our Marketplace connects over 50,000 FinTechs worldwide to corporations that need their innovation (financial entities, insurers, real estate …), with investors who seek to detect the best investment opportunities without intermediaries and with all those companies that want collaborate with different products and services (technological, legal, marketing, HR …) by helping the FinTech sector to grow, scale and succeed. Open Innovation Strategies & Intelligence We help corporations to collaborate, co-create, launch PoCs, MVPs, adquire or invest in the best FinTech opportunities.
Identification of over 1,000 solutions for our clients has been conducted, more than 50 real collaborations have been launched & we have invested in more than 30 startups and scaleups. Our team has analysed more than 10,000 FinTech, InsurTech, PropTech, RegTech, LegalTech, WealthTech & PayTech from 60 countries, mapping 500 different business models and technologies.
We also develop investment reports, open banking & guidance in the regulatory Sandbox sector. Unconference(s): The FinTech Ecosystem Since 2015 Finnovating has created the largest FinTech Ecosystems through Unconference(s), holding 20 private meetings a year in Europe, Latam, USA & Asia.
Each Unconference counts with the participation of 100 CEOs & founders from best FinTechs, regulators, investors & corporations interested in their collaboration. Thanks to our private meetings, above 1,000 collaboration & investment agreements have been successfully closed..
Pi-Tech Labs focuses on the creation of smart devices. It designed YHIWO, a bracelet capable of detecting the movements that are made with the fingers, hand, and arms, in such a way, that it allows to control different electronic devices through simple gestures and movements.
It was founded by Francisco Ortega and Juan Luis Mayorga in 2014. It is headquartered in Málaga, Spain..
Santalucía IMPULSA is a corporate acceleration program for startups and innovative projects specialized in insurtech. It is promoted by the Santalucía Group, for entrepreneurs and startups with less than 5 years.
The program offers a process of acceleration and the opportunity to seek collaborations and alliances with Santalucía. Santalucía IMPULSA was founded in 2016 and is based in Madrid, Spain..
Fintech Payments | The first marketplace of Fintech & Insurtech solutions
Fintech Payments is a Fintech & Insurtech advisory marketplace with a presence in more than 43 countries.
Thanks to our pool of partners, among which are Payment Institutions, E-money Institutions, Banks, Core Banking solutions, Payment infrastructures, Banking SaaS, wealthtech platforms, Insurance brokers, Insurance companies, Insurance agencies, KYC, AML and fraud solutions, PIS & AIS solutions, among many many others, any business can choose the right solution for their business model FOR FREE.
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