49. Insly

Company: Insly

Founder:Risto Rossar

Website: https://insly.com/

Description:A cloud based platform for insurance brokers

 

Founded in 2015, Insly offers insurance policy management for insurance brokers and agents, as well as MGAs and wholesale. The London-based company said its goal is to make insurance easy to understand, manage, and buy for both service providers and end users.

Insly offers full-stack insurance software to sell and administer insurance policies. Its platform is used by over 1000 brokers and 30 underwriters, producing combined annual premiums of over €1.1 billion. It recently launched a low-code platform for MGAs and insurers which enables them to build insurance products “ten times faster” than the previous software version.

Insly offers full-stack insurance software to sell and administer insurance policies. Its platform is used by over 1000 brokers and 30 underwriters, producing combined annual premiums of over €1.1 billion. It recently launched a low-code platform for MGAs and insurers which enables them to build insurance products “ten times faster” than the previous software version.

Insly Founder and CEO Risto Rossar told Coverage: “The year started quite shockingly for us – just after having decided to start fundraising, the COVID-19 crises hit the world. We faced the difficult decision of whether to continue with fundraising and investments or set ourselves into normal growth mode. Choosing the latter, we successfully turned Insly into a profitable company and maintained a notable 32% growth in sales.”

In 2018, Insly announced an investment of €2.2 million (US$2.7 million), led by Concentric and Black Pearls VC and a further €1.3 million in January 2021 from Concentric and Uniqa Ventures, with participation from The British Business Bank’s Future Fund Scheme.