6 insurtechs on Forbes' Fintech 50, 2023

Forbes assessed hundreds of fintech companies, evaluating criteria that included product originality, revenue growth and leadership team diversity, to determine its Forbes’ Fintech 50 of 2023. Six insurtech companies made the list this year; At-Bay, Coalition, Insurify, Kin Insurance, Next Insurance and Sure. 

Eric Weisburg, a senior principal at Aite-Novarica with over 20 years of insurance industry experience and whose expertise lies in insurance and technology, says that the insurtech companies recognized by Forbes this year “all demonstrate the ability to grow rapidly and attract a lot of capital.” 

He describes At-Bay and Coalition, two insurtechs with cybersecurity offerings, as having high growth and valuation at a time where cybersecurity is an in-demand product. “The cyber insurance marketplace has grown very rapidly, as have the losses in that space,” explains Weisburg. 

The other insurtechs highlighted by Forbes also utilize new technology solutions, like Insurify, which leverages AI and machine-learning solutions, and offer hot-topic products, such as the embedded insurance offerings from Sure.

“The industry has become excited about embedded insurance recently,” Weisburg says. “And Sure is a technology provider and enabler that facilitates the distribution of [embedded insurance.]”

Digital Insurance reached out to the insurance companies named on the list for comment via email.