Who are Toronto’s Leading Innovators in the Insurtech Startup Scene?

The city of Toronto, home to a wealth of Startups, is known to be a dynamic hub for technological and business innovation. One particular area that has seen exponential growth in recent years is the Insurance sector. Insurance Startups from Toronto are not only redefining the traditional insurance models but also leveraging the power of technology to deliver cost-effective and personalized products and services to consumers. Here are 15 such noteworthy Insurance startups from Toronto, Ontario, Canada, that are bound to reshape and disrupt the insurance industry as we know it.


PolicyMe is an Insurance Startup founded by Andrew Ostro, Jeff McKay, and Laura McKay that aims to make life insurance easy. The startup operates in the Education, Finance, Insurance, and Personal Finance realm to simplify the often complex and confusing world of life insurance.

Relay Platform

Founded by Greg Boutin, Relay Platform is a Software-as-a-Service platform that is making strides in the Insurance, InsurTech, and Software industry.

Walnut Insurance

Walnut Insurance, founded by Adrien Niblock and Derek Szeto, offers life insurance plans that double as a premium membership with exciting benefits. Walnut operates in the Embedded Software, Finance, Financial Services, FinTech, Insurance, and Life Insurance sector.


SureBright, founded by Kai Jia and Manish Chauhan, is an insurance-as-a-Service platform that allows businesses to embed insurance and warranty products on their website.


Nyble is a Fintech startup that operates in the Financial Services, FinTech, and Insurance sector, and offers innovative solutions to help credit-invisible Canadians access & build credit.

Altius Analytics Labs

Altius Analytics Labs, founded by Abdelhamid El Bably and Benjamin Lee, is a software company that uses Big Data, Computer Vision, Industrial, Insurance, Machine Learning, and Software to identify ergonomic risks in workplaces quickly and accurately.

SHORE Underwriting

SHORE Underwriting, founded by Dave Alexander and Michael Shore, specializes in underwriting for emerging technology and professional services sectors in Canada.


Onlia, founded by Fernand Vartanian, operates in the Financial Services, Insurance industry. The motto of Onlia is to make it easy to live safely, and it rewards its customers along the way.


PolicyAdvisor is an online Canadian insurance broker founded by Jiten Puri that operates within the E-Commerce, InsurTech, and Life Insurance space.

Emote AI

Emote AI offers unique services of analyzing mental health, offering insurance, and clinical services for e-sport athletes and teams. Emote operates in the Artificial Intelligence, eSports, Insurance, and Psychology sector.

Biofect Innovations

Biofect Innovations is a biotech enterprise founded by John Abousawan, Ralph Delos Santos, and Teshager Kefale that develops microbial protein ingredients for food industries, operating in the Biotechnology, Food and Beverage, Life Insurance, Manufacturing sector.

Allegory Insurance

Allegory Insurance, founded by Onur Gungor, is crafting the future of insurance by leveraging AI and machine vision to help good drivers save money and prevent accidents.


HealthBank, founded by Odero Otieno, offers consumer & enterprise healthcare payments infrastructure for patients, providers, pharmacies, insurance carriers, benefits & HR, operating in the Accounting, Banking, Credit Cards, Developer APIs, Financial Services, FinTech, Health Care, Health Insurance, Mobile Payments, Personal Finance sector.


BeniPlus, founded by Robert Kearns, Scott Beckett, and Stephen DeKuyper, operates in the Financial Services, and Insurance sector to provide employee benefits, group benefits, healthcare savings account, SaaS.


CoverMarket is a comprehensive insurance marketplace operating in the Auto Insurance, Commercial Insurance, Insurance, Marketplace, Property Insurance sector.

These startups are testament to the vibrant and thriving insurance startup ecosystem in Toronto. They are leveraging the power of technology to transform conventional insurance provision, ensuring personalized, affordable, and transparent services for their customers. The innovative strides made by these startups are reshaping the insurance landscape, proving that Toronto is a burgeoning hub for disruptive technology and innovation in the insurance sector

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Canada Venture News

CanadaVenture.news is a Canadian venture magazine that covers startups, business, technology, and innovation in Canada. The online publication provides news, insights, and resources for entrepreneurs, investors, and business professionals, featuring articles, interviews, and analysis of the latest trends and developments in the Canadian startup ecosystem.