Insurtech in London

Of the top 150 insurtech companies in the world, 20 are based in the UK, and nearly all of them in London, the largest market for the sector in Europe. [1]

Here are five reasons why insurtech companies in London are set for success:

1. Funding opportunities

Insurtech companies in London successfully secured a remarkable $3bn^[2] in funding between 2017 and 2022, highlighting the availability of capital for innovative insurtech ventures. Notable funding rounds include Accelerant, YuLife and Stable.

This dynamic sector shows no signs of slowing as investment continues to flow. In 2023, UK insurtech companies raised a combined $395m, 43% more than 2022. 

Some notable rounds in 2024 include London-based hyperexponential, raising $73m and Supercede with $15m. [3]

2. London's insurance market size and potential

The London insurance market boasts an impressive value of $110bn^[4], surpassing the combined worth of all its nearest competitors. This substantial market provides a vast canvas for insurtech companies to grow and thrive.

Three of Europe's top 10 life and health insurance companies are based in London, with a combined value of $130bn [5]. This market provides conditions for insurtech companies in London to grow and thrive.

3. Supportive ecosystem

Insurtech Gateway, Lloyd’s Lab and Startupbootcamp InsurTech are dedicated accelerators specifically designed to nurture and propel the growth of insurtech startups in London and the UK. These programs provide access to resources, mentorship and networking opportunities that are crucial for success.

4. Leading the way 

London's insurance market has established itself as the largest global hub for commercial and specialty risk, earning $160bn a year, almost twice as large as its nearest competitor [6]. Insurtech companies in London can tap into this vibrant ecosystem and discover unparalleled opportunities for collaboration and business growth.

5. A green future

London and the UK are paving the way for green finance solutions, with the London Stock Exchange named “greenest exchange in the world” and London’s Green Finance Institute, a forum that helps shape the global green finance agenda.

 
See London's Insurtech facts: