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Business Insider asked Europe’s biggest tech investors to pick the disruptive insurance startups they think will blow up in 2021. Here are the 26 they chose.

Startup founders and venture capitalists are looking to take on the staid world of insurance.

2020 saw record amounts of capital flow into the space, amid an IPO for mobile insurance startup Lemonade and medical backup firm Oscar Health.

This year began with a massive $125 million round for Sidecar Health, and the largest raise in Europe in 2021 could soon come in the form of a raise from London-based Zego, as Insider recently reported.

Insurance as a sector covers everything from underwriting, distribution, claims, and product, with individual disruptors aiming to upend a largely traditional and digitally deficient industry.

In 2020, annual “insurtech” funding reached an all-time high of $7.1 billion across 377 deals — marking a 12% increase in funding and a 20% increase in deals compared to 2019, according to CB Insights.

We asked some of Europe’s top venture capitalists to name the most exciting insurance startups on the continent. Check out their picks below:


Cited by these VCs: Kartik Varma, MD at Techstars

In the Techstars portfolio? Yes

Total raised: $1.7 million

What it does: “Cachet offers gig economy workers personalized insurance that takes into account individual car usage and driving habits, helping to promote and boost the sharing economy.”

Why it’s hot in 2021: “The gig economy is reinventing the dynamics of work faster than traditional insurance companies can keep up. Estonian insurtech Cachet is providing gig workers with insurance products that are tailored for this sector, making a bold move on a fast-growing industry where incumbents haven’t been paying attention.”

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