Root
Wefox
TOP 10
04
Root
Founded : 2008
Taking telematics into the mainstream marketplace to enable safer drivers to benefit from better premiums , Root is revolutionising the US motor insurance market . Previously , such cover was only available to fleet operatives , but Root ’ s technology enables drivers to have their road performance assessed and monitored . The company incentivises safer driving through lowered premiums . Drivers simply download the insurtech ’ s mobile app and perform test driving for several weeks while the app monitors the driving behaviour in the background .
03
Wefox
Founded : 2015
The fastest growing insurtech in Europe , Wefox was launched in 2015 by Julian Teicke , a dynamic entrepreneur who decided to create the insurtech after conversations with his father , who had spent his entire career in the insurance industry . Wefox is now Europe ’ s number one digital insurer . It boasts eight offices across the continent , and has more than 2000 employees and advisors . In June , 2021 , the company made international headlines following the world ’ s biggest insurtech investor funding round to date , of $ 650mn . With a valuation of $ 3bn , Teicke made the company ’ s IPO , and then promptly made every employee of Wefox a shareholder with a $ 5,000 stake in the company .