About InsurTech SaaS sector in Asia
The InsurTech SaaS sector in Asia comprises 247 companies, including 101 funded companies having collectively raised $1.07B in venture capital money and private equity. Out of these, 39 are Series A+ funded, and 2 have achieved unicorn status.
InsurTech SaaS sector in Asia has seen 8 acquisitions and 4 IPOs.
This sector includes companies which provide software as a service (SaaS) solutions primarily for the insurance industry.
All companies providing SaaS based solutions for the insurance industry are included in this sector. Excludes companies that do not provide SaaS based solutions for the insurance industry.
Top InsurTech SaaS Companies in Asia
There are 247 InsurTech SaaS startups in Asia which include ABI Health, Klaim AI, Wiz AI, Mintpro, Riskcovry. Out of these, 101 startups are funded, with 39 having secured Series A+ funding, and 2 achieving unicorn status.
Over the past 10 years, an average of 10 new companies have been launched annually. Notably, several of these startups have been founded by alumni of IIM Calcutta, IIT Bombay and IIT Delhi.
Here is the list of top InsurTech SaaS startups in Asia
1. ABI Health
Provider of AI-driven solutions for healthcare operations. These solutions streamline insurance claim management, automate lab operations, and enhance patient services. Specific offerings include AI agents for claim processing, a Fabric LIMS for laboratory workflow automation, and evoke.ai for lab result certification. The company also provides hospital information system (HIS) integration and customized dashboards for efficient operational tracking. The solutions aim to improve efficiency, reduce errors, and enhance decision-making within healthcare settings.
Key facts about ABI Health
2. Klaim AI
Provider of AI-based claims management software for healthcare professionals. The company has developed a digital platform that assists healthcare professionals with revenue management, claims to process, and other claim management tools. The system uses an automation tool for tracking daily operations, insurance claims, and more. The software has an inbuilt dashboard system that provides real-time data analysis, track records, submission forms, and financial reports.
Key facts about Klaim AI
- Founded Year: 2020
- Location: United Arab Emirates
- Stage: Series A
- Total Funding till date: $17.6M
- Investors: Mad'a Investment, Knuru and 8 Others
- Latest Funding Round: Series A, Oct 27, 2025, $*****
- Tracxn Score: 62/100 What is this?
- Competitors Rank: 11 of 1,025 Competitors
3. Wiz AI
Developer of AI talkbots and chatbots for customer experience solutions. The platform delivers multilingual support and multichannel automation mimicking human interactions. It offers enterprise-ready and customized solutions with safeguards for compliance. It is designed with enterprise-grade security that protects data.
Key facts about Wiz AI
- Founded Year: 2019
- Location: Singapore
- Stage: Series B
- Total Funding till date: $56M
- Investors: Tiger Global Management, GGV Capital and 31 Others
- Latest Funding Round: Series B, Nov 05, 2025, $*****
- Tracxn Score: 62/100 What is this?
- Competitors Rank: 30 of 2,875 Competitors
4. Mintpro
Mintpro provides app-based agency management software for insurance agents. It offers solutions for insurance quoting, sales & distribution, renewal management, and more. It also offers lead generation, claims management, customer management, and more. The app is available on Android platform.
Key facts about Mintpro
- Founded Year: 2017
- Location: Mumbai (India)
- Stage: Unfunded
- Tracxn Score: 62/100 What is this?
- Competitors Rank: 8 of 650 Competitors
5. Riskcovry
Provider of a platform for digital insurance distribution and management. The platform offers tools for managing the insurance lifecycle, including purchase, management, and claims. It provides a unified application programming interface for integrating with multiple insurers and products. The platform supports assisted, embedded, and direct insurance distribution channels.
Key facts about Riskcovry
- Founded Year: 2018
- Location: Mumbai (India)
- Stage: Series A
- Total Funding till date: $14.4M
- Investors: Morphosis Venture Capital, 360 One and 37 Others
- Latest Funding Round: Series A, Jan 03, 2024, $*****
- Tracxn Score: 61/100 What is this?
- Competitors Rank: 10 of 650 Competitors
Companies founded year-on-year in the InsurTech SaaS sector in Asia
20 InsurTech SaaS startups in Asia were founded in 2017 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | - |
2025 | 8 |
2024 | 2 |
2023 | 7 |
2022 | 6 |
2021 | 12 |
2020 | 16 |
2019 | 15 |
2018 | 14 |
2017 | 20 |
Stage-wise distribution of InsurTech SaaS sector companies in Asia
Out of the total 247 InsurTech SaaS companies in Asia, 101 have secured funding. Among them, 39 have reached Series A or higher, and 20 to Series B or beyond.
Founded - 247
Funded - 101
Series A+ - 39
Series B+ - 20
Series C+ - 15
Company Stage | No. of companies |
|---|---|
Founded | 247 |
Funded | 101 |
Series A+ | 39 |
Series B+ | 20 |
Series C+ | 15 |
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Funding Trends in the InsurTech SaaS sector in Asia
Total funding year-on-year in the InsurTech SaaS sector in Asia
The InsurTech SaaS sector in Asia saw a total funding of more than $948M in the last 10 years. The most amount of funding was in 2021 at more than $218M.
- Total Funding
Year | Total Funding |
|---|---|
2025 | $27M |
2024 | $95.8M |
2023 | $59.7M |
2022 | $180M |
2021 | $218M |
2020 | $32.8M |
2019 | $215M |
2018 | $87.1M |
2017 | $17.8M |
Recent Funding Rounds in InsurTech SaaS in Asia
In the year 2025, till November 2025, InsurTech SaaS companies in Asia have raised $10M in equity funding across 6 rounds.
In the same period last year (i.e. till July 2024), InsurTech SaaS companies in Asia had raised $92.3M across 7 rounds.
So, 2025 has seen a 89.11% drop in funding in InsurTech SaaS companies in Asia as compared to 2024.
Here are some recent, important funding rounds in InsurTech SaaS companies in Asia:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Series B | 1893 | Nov 05, 2025 | ||
Seed | 5956 | Oct 28, 2025 | - | |
Series A | 8338 | Oct 27, 2025 | ||
Series A | 2644 | Mar 10, 2025 | ||
Seed | 6870 | Jan 14, 2025 |
Top Investors in InsurTech SaaS in Asia
Plug and Play Tech Center is the top investor in InsurTech SaaS companies in Asia based on number of companies invested.
Here are some top investors in InsurTech SaaS companies in Asia:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Sunnyvale (United States) | ||
Singapore (Singapore) | ||
Zurich (Switzerland) | ||
Redwood City (United States) | ||
Herzliya (Israel) |
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M&A activity in InsurTech SaaS sector in Asia
In the year 2025, till April 2025, 1 acquisition happened in InsurTech SaaS sector in Asia.
Here are some recent, important acquisitions in InsurTech SaaS sector in Asia:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Apr 22, 2025 | ||
Acqui-Hired | Apr 05, 2022 | ||
Acqui-Hired | Jul 26, 2021 | ||
Business Acquisition | Jul 01, 2021 | ||
Acqui-Hired | Jun 22, 2021 |
Acquisition trends in InsurTech SaaS sector in Asia
Here are the acquisition trends in InsurTech SaaS sector in Asia:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | - |
2025 | 1 |
2024 | - |
2023 | - |
2022 | 1 |
2021 | 3 |
2020 | - |
2019 | 1 |
2018 | - |
2017 | 1 |
IPOs in InsurTech SaaS in Asia
In the year 2022, till January 2022, 1 IPO happened in InsurTech SaaS sector in Asia.
Here are some recent, important IPOs in InsurTech SaaS sector in Asia:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Jan 26, 2022 | Hong Kong Exchanges (HKG) | |
Jul 21, 2021 | Australian Securities Exchange (ASX) | |
Mar 17, 2015 | Tokyo Stock Exchange (TSE) | |
Nov 01, 2005 | Bursa Malaysia (KLSE) |
Colleges which produce the most InsurTech SaaS companies in Asia
Companies founded by alumni from top colleges in the InsurTech SaaS in Asia
Most number of InsurTech SaaS startups in Asia have been founded by alumni from IIM Calcutta, IIT Bombay and IIT Delhi.
College | No. of companies |
|---|---|
IIM Calcutta | 6 |
IIT Bombay | 5 |
IIT Delhi | 5 |
IIT Kharagpur | 5 |
Technion Israel Institute Technology | 5 |
BITS Pilani | 3 |
Harvard University | 3 |
IIT Kanpur | 3 |
Nanyang Technological University (NTU) | 3 |
Harvard Business School | 2 |
Total funding in InsurTech SaaS companies founded by alumni from top colleges in Asia
In the last 10 years, IIT Kharagpur graduates' InsurTech SaaS companies in Asia have raised the most funding among top colleges. IIT Kanpur alumni are second, and Technion Israel Institute Technology alumni are third.
College | Total Funding |
|---|---|
IIT Kharagpur | $289M |
IIT Kanpur | $269M |
Technion Israel Institute Technology | $51.9M |
London School of Economics and Political Science | $40.6M |
Harvard Business School | $36M |
Harvard University | $36M |
University of Warwick | $30.1M |
IIT Delhi | $20.6M |
Nanyang Technological University (NTU) | $14.4M |
University of California (Berkeley) | $14.4M |
Top News in InsurTech SaaS in Asia
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Azentio CEO on fintech's role in Islamic finance future, discussing lending in GCC and AI governanceGulf Business•Nov 13, 2025•Azentio
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Azentio Launches Next-Gen Loan Origination for Retail, SME, and Corporate LendersPR Newswire•Sep 15, 2025•Azentio
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Azentio Expands Regional Leadership Team to Drive Growth in MEAGlobal FinTech Series•Jun 12, 2025•Azentio
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Azentio Expands Middle East Presence with New Dubai and Cairo OfficesPR Newswire•Apr 24, 2025•Azentio
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BusinessNext ranked highest for financial services in 2025 Forrester WaveBusiness Line•Mar 26, 2025•BUSINESSNEXT
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Vitesse and Five Sigma Partner to Expedite Payments and Enhance Customer Experience in Insurance ClaimsFintech Finance•Mar 12, 2025•Vitesse, Five Sigma Labs, Web.dev, Vitesse
