Insurtech in London

Of the top 150 insurtech companies in the world, 20 are based in the UK (the second highest number in the world), 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 the UK successfully secured more than £1bn in venture capital (VC) investment between 2019 and 2024[2], the highest share in Europe, highlighting the availability of capital for innovative insurtech ventures.

Successful London-based insurtech companies include Ki Insurance, ManyPets, YuLife and Zego[3].

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[4].

Notable funding rounds recently include London-based hyperexponential[5], raising $73m in 2024, and Marshmallow with $90m in 2025[6].

2. London's insurance market size and potential

The London insurance market brings an impressive annual income of $160bn[7]. It’s the world’s largest specialty insurance market, surpassing the combined worth of all its nearest competitors.

Three of Europe's top 10 life and health insurance companies are also based in London, with a combined value of $130bn[8].

This substantial market provides a vast canvas 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 programmes provide access to resources, mentorship and networking opportunities that are crucial for success.

4. Leading the way

The London insurance market brought in $48.4bn in total premium income in 2023, and London-based underwriting grew 14% in the same year.[9]

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.