Market
Insurtech in Canada
15 companies · 35 stories · $44.6M disclosed
Insurtech Daily tracks 15 insurance and insurtech companies headquartered in Canada — 6 insurers, 5 insurtechs and 2 brokers, across 35 stories going back to Aug 8, 2024. Between them they have disclosed $44.6M across 5 funding rounds, the largest PolicyMe's $21.9M. Every figure is compiled from the coverage on this page.
Funding
| Company | Stage | Lead investor | Source | ||
|---|---|---|---|---|---|
| PolicyMe | $21.9Mas reported: C$30M | — | — | Business Wire+1 | |
| Quandri | $12.0Mas reported: C$16.5M | — | — | BetaKit+2 | |
| Flora Fertility | $5M | — | — | Athletech News | |
| Walnut | $4.6M | — | — | BetaKit+1 | |
| Flora Fertility | $1.1Mas reported: C$1.5M | — | — | BetaKit |
Every round is listed with its reporting in the funding tracker, and totals across all markets in the company ranking.
Companies
| Company | Type | Based | Stories | Disclosed |
|---|---|---|---|---|
| BOXX | Insurtech | Toronto | 6 | — |
| APOLLO | Insurtech | Vancouver | 5 | — |
| Manulife | Insurer | — | 5 | — |
| PolicyMe | Insurtech | — | 3 | $21.9M |
| Quandri | Technology vendor | Calgary | 3 | $12.0M |
| Flora Fertility | Insurtech | — | 3 | $6.1M |
| BMO Insurance | Insurer | — | 3 | — |
| Walnut | Insurtech | Toronto | 2 | $4.6M |
| Trisura | Insurer | — | 2 | — |
| Economical Insurance | Insurer | Waterloo | 1 | — |
| GreenShield | Insurer | — | 1 | — |
| IBAC | Industry body | Ottawa | 1 | — |
| Navacord | Broker | — | 1 | — |
| Peel Mutual | Insurer | Ontario | 1 | — |
| Steers Insurance | Broker | — | 1 | — |
Coverage
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Navacord partners with Steers Insurance
As part of the transaction, several Steers employees will become Navacord shareholders.
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Cyber insurtech BOXX adds AI deepfake cover to Cyberboxx Business
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BOXX Insurance adds affirmative AI and deepfake coverage to Cyberboxx Business policy
BOXX's new endorsement reflects a wider split forming across the cyber insurance market
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Economical Insurance renews IBAC Broker Identity Program support
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BMO Insurance launches AI-enhanced SmartDecision tool delivering a faster and more seamless path to coverage for clients and advisors
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How Manulife hit its first ROI on AI investment
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BMO launches health and dental insurance plan powered by GreenShield
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PolicyMe Launches Canada's First Unified Life Insurance Journey
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BMO launches new health and dental insurance plans
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Guidewire Cloud to power Peel Mutual’s AI strategy
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Mahindra and Manulife Insurance JV Moves Ahead; Gets Approval from Corporate Affairs Ministry
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APOLLO Insurance expands embedded tenant coverage through Yardi partnership
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BOXX Insurance, the Cyber Insurtech and Protection Company, Announces Executive Appointments to Drive USA Expansion and International Growth
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Flora Fertility Raises $5M for Customer-Owned Reproductive Insurance
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APOLLO Becomes RentCafe’s Preferred Tenant Insurance Partner in Canada
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QuickFacts and BOXX Insurance team up to boost cyber protection
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AI-led insurer Honeycomb grows footprint via Trisura
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Honeycomb Insurance Announces Partnership with Trisura to Expand Admitted Capacity
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Canadian InsurTech Quandri raises $12m to scale AI platform
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Canadian insurtech Quandri secures US$12 million in funding
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Quandri secures $16.5 million CAD to help North American insurance firms automate renewals with AI
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Zurich Insurance buys Toronto's BOXX to boost retail, SME business
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Zurich Insurance Buys Canadian Insurance Technology Firm BOXX
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APOLLO updates portal for digital insurance
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Manulife dares startups to tackle Asia’s age imbalance
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PolicyMe Announces $30 Million CAD in Funding and Expanded Product Suite, Transforming Digital Insurance
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PolicyMe eyes new insurance products, more partners after raising $30 million over two years
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Manulife goes 100% Gen AI
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Manulife Canada unveils new life insurance products
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Flora Fertility closes $1.5 million CAD to bring individual fertility insurance across North America
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Flora: Revolutionizing Fertility Coverage With Individually-Owned Insurance Policies
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APOLLO and FirstService Residential Partner to Offer Digital Insurance to Residents
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APOLLO Launches Pet Insurance, Powered by Petsecure
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National Bank reinvests as Walnut secures $4.6 million to expand embedded insurance capabilities
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Walnut Insurance Secures $4.6M to Transform Insurance Distribution with Embedded Technology