Insify is a Netherlands-based company operating in the insurtech sector. Founded in 2020, the startup focuses on providing digital insurance solutions for freelancers and small-to-medium enterprises (SMEs). The company positions itself within the wider European effort to simplify insurance through technology and automation. This article presents a factual overview of Insify’s background, funding, products, technology, and challenges.
Company Background
Insify was founded by Koen Thijssen, who previously worked in the technology and e-commerce sectors, including at Bloomon and Rocket Internet. The company is headquartered in Amsterdam and employs around 50 to 60 people. Insify began operations in the Netherlands and has since expanded into Germany and France.
Products and Services
Insify provides business insurance products designed for independent professionals and SMEs. Its offerings include:
- Commercial liability and professional indemnity insurance to cover claims of damage, error, or negligence related to business operations.
- Occupational disability insurance, intended to protect income in cases where policyholders are unable to work.
- Digital policy management, where customers can obtain insurance quotes online within minutes.
- Risk assessment through data analysis, using digital tools to price policies and automate parts of the onboarding process.
Policies are delivered entirely online, and customers can adjust or renew coverage as needed. The company also distributes products through embedded partnerships with digital platforms and via brokers.
Funding and Investment
Insify has raised several rounds of venture capital since its founding:
- In February 2022, the company secured €15 million in Series A funding, led by Accel and joined by Visionaries Club, Frontline Ventures, and Fly Ventures.
- In June 2023, it announced an additional €10 million Series A extension, bringing the total Series A funding to €25 million. New investors included Opera Tech Ventures and Nico Rosberg, alongside earlier backers.
- In September 2025, Insify raised a €16.3 million Series B round, led by Evli Growth Partners with participation from Munich Re Ventures, Accel, Opera Tech Ventures, Visionaries Club, and Frontline Ventures.
The company has stated that this funding is intended for product development and further European expansion.
Technology and Operations
Technology is a central element of Insify’s business model. The company uses data-driven methods to assess risk and determine pricing. Its digital onboarding process is designed to reduce the time required for new customers to receive quotes and purchase policies. Automation is applied to underwriting, policy adjustments, and, in some cases, claims handling.
Insify’s systems are built to adapt to different regulatory environments in Europe. The company partners with reinsurance firms, including Munich Re, to manage risk and ensure compliance across multiple markets.
Market Context
Insify is part of a wider trend of digitalisation within the European insurance industry. Traditional insurance providers often rely on manual processes and longer timelines, while insurtech firms emphasise automation and customer self-service. Startups such as Insify seek to address perceived gaps in the market for freelancers and small businesses, which have sometimes been underserved by traditional insurers.
The European insurtech sector is competitive, with numerous firms attempting to modernise different aspects of the industry. Expansion across borders introduces additional challenges, given that each country applies its own regulatory frameworks to insurance products.
Challenges
Insify faces several challenges common to insurtech firms:
- Regulation: Insurance is heavily regulated across Europe, and requirements differ from country to country. Expanding while meeting all compliance obligations can be complex.
- Competition: Established insurers are increasingly investing in digital platforms, and other startups are targeting similar markets.
- Sustainable growth: Venture capital funding creates expectations of scaling and profitability, which can be difficult in insurance due to narrow margins and long-term risk management.
- Data management: Using large sets of data for underwriting requires careful handling to maintain accuracy, privacy, and compliance with data protection laws.
Outlook
With recent funding secured, Insify has signalled its intention to expand its presence in Europe and develop new products. Its focus remains on freelancers and SMEs, sectors that continue to represent a significant portion of the European economy. Future developments are expected to include greater automation in claims management and broader integration with digital platforms.
Conclusion
Insify is an insurtech company founded in 2020 and based in Amsterdam. It offers digital business insurance products aimed at freelancers and SMEs, with operations in multiple European countries. Having raised over €40 million across several funding rounds, it is backed by investors including Accel, Munich Re Ventures, and Evli Growth Partners. While it has expanded quickly, the company faces challenges typical of the insurance sector, including regulatory complexity, competition, and the need to demonstrate long-term sustainability. This places Insify within the broader context of the European insurtech market, where technology is reshaping how insurance products are delivered and managed.
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