Market
Insurtech in Canada
35 companies · 73 stories · $72.2M disclosed
Insurtech Daily tracks 35 insurance and insurtech companies headquartered in Canada — 15 insurers, 6 brokers and 6 insurtechs, across 73 stories going back to Aug 8, 2024. Between them they have disclosed $72.2M across 7 funding rounds, the largest Armilla AI's $25M. Every figure is compiled from the coverage on this page.
Funding
| Company | Stage | Lead investor | Source | ||
|---|---|---|---|---|---|
| Armilla AI | $25M | — | — | FinTech Global | |
| 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 | |
| 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 |
|---|---|---|---|---|
| APOLLO | Broker | Vancouver | 11 | — |
| Manulife | Insurer | Toronto | 9 | — |
| BOXX | Insurtech | Toronto | 6 | — |
| Sun Life | Insurer | Toronto | 6 | — |
| CatIQ | Technology vendor | Toronto | 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 |
| Fairfax | Insurer | Toronto | 2 | — |
| Trisura | Insurer | — | 2 | — |
| Wawanesa Insurance | Insurer | Winnipeg | 2 | — |
| Armilla AI | Insurtech | Toronto | 1 | $25M |
| YouSet | Insurtech | — | 1 | $2.6M |
| Cox Specialty Markets | MGA | Toronto | 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 | — |
| 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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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.
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Everest to sell Mexico insurance operations to Fairfax
The transaction follows Everest's recent announcements of agreements to sell its Colombia and Canada insurance operations.
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Everest agrees to sell Mexico insurance business to Fairfax
Everest has agreed to sell its Mexico insurance operations to Fairfax Financial Holdings, continuing its strategic withdrawal from commercial retail insurance markets.
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Arthur J. Gallagher & Co. Acquires Canada’s Apollo Insurance Solutions
Arthur J. Gallagher & Co., the Rolling Meadows, Illinois-based insurance broker, announced the acquisition of Vancouver, British Columbia-based Apollo Insurance Solutions Ltd. Terms of the transaction were not…
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Gallagher acquires Vancouver-based digital tenant insurance broker Apollo
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Gallagher acquires Apollo Insurance
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CatIQ closes book on record 2024 Calgary hailstorm with CAD 3.35bn industry loss estimate
Catastrophe Indices and Quantification Inc (CatIQ), the independent Toronto-based organisation that provides industry-wide catastrophe insurance data and is a subsidiary of PERILS, has disclosed its sixth and final…
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Arthur J. Gallagher acquires Canadian digital insurance broker By Investing.com
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Gallagher acquires Apollo Insurance
Apollo raised $11.4 million across three funding rounds from investors including Liberty Mutual, Trisura, and Definity.
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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
The 40 most recent of 73 stories naming a company based in Canada.