Market
Insurtech in Canada
38 companies · 90 stories · $49.2M disclosed
Insurtech Daily tracks 38 insurance and insurtech companies headquartered in Canada — 16 insurers, 7 brokers and 6 insurtechs, across 90 stories going back to Aug 8, 2024. Between them they have disclosed $49.2M across 7 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 | |
| YouSet | $2.6Mas reported: C$3.5M | Seed | — | BetaKit | |
| QuickFacts | $2M | — | — | BetaKit | |
| 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 |
|---|---|---|---|---|
| Manulife | Insurer | Toronto | 13 | — |
| APOLLO | Broker | Vancouver | 11 | — |
| CatIQ | Industry body | Toronto | 8 | — |
| Sun Life | Insurer | Toronto | 7 | — |
| BOXX | Insurtech | Toronto | 6 | — |
| PolicyMe | Insurtech | Toronto | 5 | $21.9M |
| Quandri | Technology vendor | Calgary | 3 | $12.0M |
| Flora Fertility | Insurtech | — | 3 | $6.1M |
| QuickFacts | Insurtech | — | 3 | $2M |
| Fairfax | Insurer | Toronto | 3 | — |
| Rates Insurance Brokers | Broker | — | 3 | — |
| Wawanesa | Insurer | Winnipeg | 3 | — |
| Walnut | Insurtech | Toronto | 2 | $4.6M |
| 7shifts | Technology vendor | Saskatoon | 2 | — |
| Trisura | Insurer | — | 2 | — |
| YouSet | Insurtech | — | 1 | $2.6M |
| Cox Specialty Markets | MGA | Toronto | 1 | — |
| Definity Financial | Insurer | Waterloo | 1 | — |
| Desjardins Insurance | Insurer | — | 1 | — |
| Economical Insurance | Insurer | Waterloo | 1 | — |
| Foresters | Insurer | Toronto | 1 | — |
| GreenShield | Insurer | — | 1 | — |
| Humi | Technology vendor | Toronto | 1 | — |
| IBAC | Industry body | Ottawa | 1 | — |
| Insurance Institute of Canada | Industry body | Toronto | 1 | — |
| Intact | Insurer | Toronto | 1 | — |
| Interior Savings Insurance | Broker | — | 1 | — |
| ivari | Insurer | Toronto | 1 | — |
| Navacord | Broker | — | 1 | — |
| Nmbr | Technology vendor | — | 1 | — |
| Peel Mutual | Insurer | Ontario | 1 | — |
| Petsecure | Insurer | — | 1 | — |
| RBC Insurance | Insurer | Toronto | 1 | — |
| Sagen | Insurer | — | 1 | — |
| Steers Insurance | Broker | — | 1 | — |
| TIPI Insurance Partners | Broker | — | 1 | — |
| Trufla | Technology vendor | Calgary | 1 | — |
| Westland Insurance | Broker | Surrey | 1 | — |
Coverage
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Sunlife wins two global awards for Client-focused digital and AI innovation
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Manulife’s US unit swings to profit as AI underwriting scales and product mix shifts
John Hancock’s AI underwriting tool now handles more than 70% of preliminary assessments, but a product mix shift has cut new business value 13%
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Will Manulife Financial Corporation (MFC:TSX) Unlock Greater Profitability Through Digital Insurance and Cost Efficiency?
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PolicyMe launches AI copilot to speed up complex underwriting
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PolicyMe launches AI underwriting copilot
The company says it has helped more than 50,000 Canadians secure over $20 billion in coverage.
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Scoop renames as Rates Insurance Brokers
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Insurtech Coverdash and 7shifts launch pay-as-you-go workers’ compensation insurance
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Scoop Insurance Brokers Ltd. announces name change to Rates Insurance Brokers Ltd.
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Scoop Insurance Brokers Ltd. announces name change to Rates Insurance Brokers Ltd.
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Coverdash partners with 7shifts
7shifts provides workforce management software for restaurants.
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Manulife launches enterprise AI platform as it targets $1 billion in value by 2027
Approved AI tools can be reused across markets, starting with a US quoting tool that speeds preliminary life underwriting
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Could Manulife Financial (TSX:MFC) Transform Insurance Through AI?
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How Could Definity Financial (TSX:DFY) Evolve Its Insurance Business?
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CatIQ estimates CAD 563m loss from severe storm outbreak in southern Ontario
CatIQ, a Toronto-based organisation providing industry-wide catastrophe insurance data and a subsidiary of PERILS, has released its initial industry loss estimate for the severe storm outbreak that affected southern…
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Fairfax Financial commits US$2.3bn to acquire stake in Boots
Canadian insurer partners with Weston family's Wittington Investments in US$8.9bn deal for UK beauty retailer
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CatIQ lifts industry loss estimate for Ontario-Quebec storms to CAD 491m
CatIQ, a Toronto-domiciled organisation providing industry-wide catastrophe insurance data and a subsidiary of PERILS, has disclosed an elevated third industry loss estimate of CAD 491 million for the severe…
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Wawanesa launches WSI after acquiring Everest Canada
The Wawanesa Mutual Insurance Company (Wawanesa) has launched WSI, which marks the closing of the acquisition of Everest Insurance Company of Canada (Everest Canada), a move which aims to enhance and accelerate its…
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Intact partners with QuickFacts
Intact Insurance provides home, auto and business insurance to more than four million customers in Canada.
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10 extreme summer events caused insured losses of over CAD 1.8bn in Canada: CatIQ
According to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ), a Toronto-based organisation providing industry-wide catastrophe insurance data and a subsidiary of PERILS, 10 extreme weather…
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Montreal-area June flooding loss estimate climbs to CAD 442m: CatIQ
CatIQ, a Toronto-based organisation providing industry-wide catastrophe insurance data and a subsidiary of PERILS, has disclosed its third industry loss estimate for the June 2026 flooding event in Canada, which…
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CatIQ raises Montreal West Island flooding insured loss estimate to C$442m
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Marsh Canada forms co-brokering alliance with TIPI Insurance Partners
TIPI Insurance Partners is Canada’s largest Indigenous-owned and -led insurance brokerage.
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Canadian Insurer Sagen Plans to Raise Around C$300 Million
Insurance company Sagen MI Canada Inc. is looking to raise around C$300 million ($216 million) through a bond sale as soon as this week, according to people familiar with the matter. The debt will likely mature in seven…
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Manulife launches travel insurance app in ChatGPT
The app supports single-trip coverage for one traveler who is a Canadian citizen or resident.
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Manulife Asia Insurance and Ant Health explore cross-border healthcare services
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Sun Life expands AI tools for advisors
The tools are part of a broader responsible AI strategy, which also includes its proprietary agentic AI platform for technology architects and its founding membership in the AI Consortium.
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Cox Specialty Markets Selects ISI to Support Specialty Insurance Operations
Integrated core and AI solutions will help the specialty MGA streamline workflows across its distinct programs and further enhance the high level of service it provides to independent agents Toronto, Ontario and Troy…
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Wilton Re partners with Sun Life to launch Windsor Life Re, a life annuity sidecar-like reinsurer
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Sun Life and Wilton Re form reinsurer to scale block acquisitions
Sun Life and Wilton Re are combining expertise with institutional asset management capacity in a structure designed to acquire blocks at scale. The $10 billion target tells you how serious both parties are
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$900m partnership: Sun Life and Wilton Re to launch Windsor Life Re reinsurer
Sun Life Financial and Wilton Re have entered into a definitive agreement to establish a strategic reinsurance and asset management partnership, combining Wilton Re's liability management expertise with Sun Life's…
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Wilton Re and Sun Life partner on new life & annuity reinsurance vehicle
Sun Life Financial Inc. and Wilton Re have entered into a definitive agreement to establish a strategic reinsurance and asset management partnership, combining their capabilities across life and annuity reinsurance and…
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Sun Life and Wilton Re announce partnership
This partnership will combine Wilton Re's liability management expertise with Sun Life's insurance and asset management capabilities.
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Manulife launches CoverMe travel insurance app inside ChatGPT
Manulife has launched a ChatGPT app that allows Canadian travellers to receive personalised CoverMe travel insurance quotes.
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Wawanesa General Insurance Rebrands to W Insurance Following Auto Club Acquisition
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Wawanesa Insurance rebrands as W Insurance
The San Diego-based insurer serves more than 300,000 policies in California, offering auto, homeowners, condo and renters insurance directly to consumers.
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CatIQ raises Ontario & Quebec thunderstorm insured market loss estimate 17.5% to C$439m
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CatIQ lifts insured loss estimate for Ontario-Quebec storms to CAD 439m
CatIQ, the independent Toronto-based catastrophe insurance data provider and subsidiary of PERILS, has released its second industry loss estimate for the severe thunderstorm event that struck parts of southern Ontario…
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Gallagher buys Apollo to expand digital insurance in Canada
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Why Manulife chose to expand its Microsoft AI partnership
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Westland Insurance acquires Interior Savings Insurance
The company plans to continue growing across Canada through organic growth and acquisitions.
The 40 most recent of 90 stories naming a company based in Canada.