Intact Insurance

Intact Insurance, established in 1809, is a prominent Canadian insurance company offering a wide array of property and casualty insurance products. It provides personal lines such as auto, home, and recreational vehicle insurance, as well as commercial lines for small to medium-sized businesses. These include commercial property, liability, and vehicle insurance, catering to diverse industries like retail, manufacturing, and contracting. Intact Insurance distributes its products through a network of brokers, independent agencies, and directly to consumers under brands like Intact Insurance, belairdirect, and Brokerlink. The company is a subsidiary of Intact Financial Corporation and is headquartered in Toronto, Canada.

Ben Belec

Senior Associate

Aaron Hoffman

Senior Associate

Jonathan Khov

Analyst

Elissa Kong

Analyst

Amine Mahmoudi

Director

Elizabeth Pipes

Senior Associate

Justin Smith-Lorenzetti

Vice President, Investments

Past deals in InsurTech

arqu

Series A in 2024
Arqu is a financial services company focused on the insurance sector, providing specialized software solutions tailored for the industry. The company's proprietary technology platform facilitates data-driven, digital risk placement services, enhancing efficiency, visibility, and transparency throughout the placement process. By leveraging advanced technology, Arqu aims to streamline operations for its clients, ensuring a more effective and informed approach to insurance services.

Urban Jungle

Venture Round in 2024
Urban Jungle Services Ltd., established in 2016 and headquartered in London, specializes in providing insurance solutions tailored for urban renters and sharers. Its platform offers a comprehensive home insurance policy that allows housemates to split costs and update names as needed, covering shared possessions, deposits, and various emergency expenses. This tech-driven approach aims to make home insurance more accessible and affordable for young professionals.

Coterie Insurance

Venture Round in 2024
Coterie Insurance is an InsurTech company focused on simplifying commercial insurance for small businesses through an API-based platform. By leveraging data-backed underwriting and automation, Coterie delivers accurate pricing and a streamlined submission-to-bind process. This technology allows clients to efficiently obtain coverage, receive quotes, and issue policies, ultimately saving time and alleviating the complexities associated with managing insurance audits. Coterie's approach aims to remove unwanted risks for businesses, enhancing their overall insurance experience.

Shepherd

Series A in 2024
Shepherd is an Insurtech company that provides technology-driven insurance solutions specifically for the commercial construction industry. It operates an online insurance platform that utilizes data and technology to assess, predict, and price risks associated with construction projects. By automating manual processes, Shepherd's platform streamlines operations for brokers, allowing them to save time and enhance the overall experience for their construction clients.

Urban Jungle

Series A in 2022
Urban Jungle Services Ltd., established in 2016 and headquartered in London, specializes in providing insurance solutions tailored for urban renters and sharers. Its platform offers a comprehensive home insurance policy that allows housemates to split costs and update names as needed, covering shared possessions, deposits, and various emergency expenses. This tech-driven approach aims to make home insurance more accessible and affordable for young professionals.

Acko

Series D in 2021
Acko is a digital insurance provider that streamlines the underwriting and distribution of various insurance products through its online platform. The company specializes in personalized insurance offerings, leveraging data and analytics to tailor its products to user consumption behaviors. Acko offers a range of bite-sized insurance solutions, primarily targeting drivers and professionals within the transportation sector, while also expanding into healthcare with policies related to employee health benefits and wellness. Its approach aims to simplify the insurance buying experience, making it transparent and efficient for consumers.

Coterie Insurance

Series B in 2021
Coterie Insurance is an InsurTech company focused on simplifying commercial insurance for small businesses through an API-based platform. By leveraging data-backed underwriting and automation, Coterie delivers accurate pricing and a streamlined submission-to-bind process. This technology allows clients to efficiently obtain coverage, receive quotes, and issue policies, ultimately saving time and alleviating the complexities associated with managing insurance audits. Coterie's approach aims to remove unwanted risks for businesses, enhancing their overall insurance experience.

Snapsheet

Series E in 2021
Snapsheet is a cloud-native claims management software company that specializes in transforming the end-to-end claims process through digitization and intelligent automation. The company offers a comprehensive suite of services, including electronic intake of first notice of loss (FNOL), data investigation, technology-assisted investigation, claims assessment, and digital payment processing for settlements. By leveraging its technology-enabled appraisal services, Snapsheet enhances customer experience and increases organizational agility for its clients. The company is known for deploying one of the fastest digital auto insurance claims processes in the United States. As a trusted innovation partner, Snapsheet collaborates with over 100 clients, including major insurance carriers, third-party administrators, and disruptors in the insurtech and sharing economy sectors.

Coterie Insurance

Series A in 2021
Coterie Insurance is an InsurTech company focused on simplifying commercial insurance for small businesses through an API-based platform. By leveraging data-backed underwriting and automation, Coterie delivers accurate pricing and a streamlined submission-to-bind process. This technology allows clients to efficiently obtain coverage, receive quotes, and issue policies, ultimately saving time and alleviating the complexities associated with managing insurance audits. Coterie's approach aims to remove unwanted risks for businesses, enhancing their overall insurance experience.

Acko

Series D in 2020
Acko is a digital insurance provider that streamlines the underwriting and distribution of various insurance products through its online platform. The company specializes in personalized insurance offerings, leveraging data and analytics to tailor its products to user consumption behaviors. Acko offers a range of bite-sized insurance solutions, primarily targeting drivers and professionals within the transportation sector, while also expanding into healthcare with policies related to employee health benefits and wellness. Its approach aims to simplify the insurance buying experience, making it transparent and efficient for consumers.

Acko

Series C in 2019
Acko is a digital insurance provider that streamlines the underwriting and distribution of various insurance products through its online platform. The company specializes in personalized insurance offerings, leveraging data and analytics to tailor its products to user consumption behaviors. Acko offers a range of bite-sized insurance solutions, primarily targeting drivers and professionals within the transportation sector, while also expanding into healthcare with policies related to employee health benefits and wellness. Its approach aims to simplify the insurance buying experience, making it transparent and efficient for consumers.

Metromile

Series E in 2018
Metromile, Inc. is a digital insurance platform based in San Francisco, California, specializing in pay-per-mile car insurance. The company provides real-time, personalized auto insurance policies that cater to the needs of modern drivers, utilizing data science to offer pricing that reflects actual mileage rather than traditional estimates. Metromile's services include the Metromile Pulse, a wireless device that connects to the car's onboard diagnostics port to track mileage, location, and driving behavior. This data collection supports the company's automated claims process and complimentary smart driving features, resulting in average savings of 47% compared to previous insurance costs. Additionally, Metromile licenses its technology platform to insurance companies globally, enabling them to enhance operational efficiency, automate claims, and reduce fraud losses. Originally founded as Fair Auto, Inc. in 2011, the company rebranded to Metromile in 2012.

Snapsheet

Series C in 2016
Snapsheet is a cloud-native claims management software company that specializes in transforming the end-to-end claims process through digitization and intelligent automation. The company offers a comprehensive suite of services, including electronic intake of first notice of loss (FNOL), data investigation, technology-assisted investigation, claims assessment, and digital payment processing for settlements. By leveraging its technology-enabled appraisal services, Snapsheet enhances customer experience and increases organizational agility for its clients. The company is known for deploying one of the fastest digital auto insurance claims processes in the United States. As a trusted innovation partner, Snapsheet collaborates with over 100 clients, including major insurance carriers, third-party administrators, and disruptors in the insurtech and sharing economy sectors.

Metromile

Series D in 2016
Metromile, Inc. is a digital insurance platform based in San Francisco, California, specializing in pay-per-mile car insurance. The company provides real-time, personalized auto insurance policies that cater to the needs of modern drivers, utilizing data science to offer pricing that reflects actual mileage rather than traditional estimates. Metromile's services include the Metromile Pulse, a wireless device that connects to the car's onboard diagnostics port to track mileage, location, and driving behavior. This data collection supports the company's automated claims process and complimentary smart driving features, resulting in average savings of 47% compared to previous insurance costs. Additionally, Metromile licenses its technology platform to insurance companies globally, enabling them to enhance operational efficiency, automate claims, and reduce fraud losses. Originally founded as Fair Auto, Inc. in 2011, the company rebranded to Metromile in 2012.

Canadian Direct Insurance

Acquisition in 2015
Canadian Direct Insurance Incorporated is a property and casualty insurance company based in Vancouver, Canada, with an additional office in Edmonton. Founded in 1996, the company serves customers in British Columbia and Alberta by offering a range of personal insurance solutions, including auto insurance, home insurance (covering tenants, condos, and homeowners), and travel medical insurance. Notably, Canadian Direct pioneered an over-the-phone distribution model, allowing it to provide services directly to customers and offer significant cost savings. The company is dedicated to delivering competitively priced insurance products, efficient claims handling, and high-quality customer service. In 2015, Canadian Direct became a subsidiary of Intact Financial Corporation, integrating its operations in Alberta with belairdirect while continuing to maintain its brand and product offerings.
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