Nayya CEO Sarah Liebel
Nayya
Insurance has long been a tough nut to crack for fintech companies. The industry is capital-intensive and highly regulated, and weather risks are notoriously hard for property insurers to predict. Yet more and more startups are starting to show steady progress in creating lasting innovations and building sustainable businesses.
For example, in December 2025, London brokerage WTW agreed to acquire technology-focused brokerage Newfront, a former Fintech 50 honoree based in San Francisco, for $1.3 billion (including contingency payments). In January 2026 Ethos, another former Fintech 50 list-maker that offers life insurance without requiring a medical exam, went public.
Our 2026 Fintech 50 list includes five insurance companies, up from four last year. Three of this year’s honorees are Fintech 50 first-timers.
New York startup Nayya is one. It feeds data about employees’ health and finances into its AI-driven software to help people pick the most cost-effective insurance plans and to manage their personal finances. Led by CEO Sarah Liebel, who was previously an executive at Groupon and coaching platform BetterUp, Nayya recently acquired fintech startup Northstar to extend its reach to financial advisors. In 2025, Nayya brought in about $30 million in revenue and reached nearly a million users.
Reserv also made its Fintech 50 debut this year. It uses AI to speed up claims processing for insurers, especially for commercial auto, trucking and logistics insurance. It consolidates a company’s claim files into one place so adjusters can easily query them. Led by cofounder and CEO CJ Przybyl, a serial entrepreneur and former chief strategy officer at claims-management company Snapsheet, Reserv reached $53 million in revenue in 2025, up from $24 million the year prior.
Chicago-based Honeycomb Insurance has found a different niche providing commercial property insurance to landlords and condo associations. Sending insurance reps to inspect a building is expensive, so Honeycomb uses aerial imagery and AI to do remote inspections. Last year, it grew its customer base by 70% to 30,000 buildings.
Here’s the list of all five insurance companies that made the Fintech 50 in 2026:
Coalition
Headquarters: San Francisco, California.
As the largest startup offering cyber insurance and proactive monitoring tools with more than 100,000 policyholders, Coalition insures against incidents like cyberattacks, email scams and accidental privacy violations. It partners with traditional carriers and reinsurers to write insurance, retaining about 10% of the financial risk. In 2025, it continued to expand internationally with its launch in Denmark, France and Sweden. It also acquired Wirespeed, a startup that uses AI to dramatically reduce the time it takes to detect and mitigate a cyber threat.
Funding: $800 million from Valor Equity Partners, Allianz X and T. Rowe Price, among others.
Latest valuation: $5 billion.
Date of last valuation: July 2022.
Bona fides: In 2025, it grew active policyholders to 110,000, up from 91,000 the year prior. Not yet profitable but cash-flow positive, says CEO Joshua Motta.
Cofounders: CEO Joshua Motta, 42, a former CIA analyst and Goldman Sachs investment banker; John Hering, 42, also the founder of Lookout.
Honeycomb Insurance
Headquarters: Chicago, Illinois.
Founded in 2019, Honeycomb provides commercial property insurance to landlords and condo associations, insuring buildings against fires and property damage. It uses aerial imagery and AI to do remote inspections, keeping its costs low. Honeycomb is available in 20 U.S. states and acts as a managing general agent (MGA), underwriting insurance and handling claims but not taking on any of the financial risk, which is assumed by reinsurers.
Funding: $55 million from Zeev Ventures, Denver-based Ibex Investors and Israeli insurance company Phoenix Insurance, among others.
Latest valuation: $140 million.
Date of last valuation: May 2024.
Bona fides: Honeycomb insures more than 30,000 customers, up 70% from the year prior. At the end of 2025, it reached $275 million in annualized gross written premiums.
Cofounders: CEO Itai Ben‑Zaken, 49, a Wharton MBA who previously led the insurance division of digital marketplace firm QuinStreet; CTO Nimrod Sadot, 48, who earned his PhD in physics at Stanford and previously with Intel and Applied Materials.
Kin Insurance
Headquarters: Chicago, Illinois.
In a bid to keep costs and rates low, it sells home insurance policies digitally and directly to consumers in 13 states, instead of employing a network of insurance agents. The insurance company itself is structured as a co-op owned by policyholders, with Kin taking 32% of premiums as a management fee. Reinsurance covers about 50% of the risk. In 2025, Kin expanded into two new states (Colorado and Missouri), started offering mortgages and grew its customer base to 217,000 policyholders, up from 172,000 the year prior.
Funding: $330 million from QED
Latest valuation: $2 billion.
Date of last valuation: August 2025.
Bona fides: In 2025, Kin revenue climbed to $202 million, from $156 million in 2024.
Cofounders: CEO Sean Harper, 45, who previously cofounded ecommerce startup FeeFighters, which was acquired by Groupon in 2012; former Kin CTO Lucas Ward, 43, who left Kin in 2023 and previously cofounded fraud analytics startup Rippleshot.
Nayya
Headquarters: New York, New York.
Feeds data about employees’ health and finances into its AI-driven software to help them pick the most cost-effective medical and supplemental insurance plans, file claims and manage their 401(k)s and personal finances. In 2025, Nayya acquired fintech startup Northstar to extend Nayya’s reach to financial advisors.
Funding: $130 million from Felicis, ICONIQ and Viewpoint, among others.
Latest valuation: $515 million, according to PitchBook.
Date of last valuation: January 2022.
Bona fides: In 2025, it hit more than $30 million in annual revenue and nearly a million users (most through partnerships with companies like payroll processor ADP).
Cofounders: Former CEO Sina Chehrazi, 35, a Georgetown Law graduate who worked at fintech company Enigma before starting Nayya; Chehrazi stepped down as Nayya’s CEO in January 2026 and became executive chair; former CTO Akash Magoon, 29, who left Nayya in 2022 and is now cofounder and CEO of health tech startup Adonis.
CEO: Sarah Liebel, 43, who joined Nayya in late 2024 after executive stints at Groupon, BetterUp and 1stDibs and became Nayya’s CEO in January 2026.
Reserv
Headquarters: New York, New York.
Founded in 2022, Reserv uses AI to help insurers (and companies that self-insure) more quickly process claims. Focused on commercial auto, trucking and logistics insurance, it consolidates a company’s claim files into one place so claims adjusters can easily query them with any question they have. In 2025, Reserv doubled its number of customers, which include a top-five U.S. logistics company, to more than 100.
Funding: $72 million from Flourish Ventures, Bain Capital Ventures and Altai Ventures, among others.
Latest valuation: $261 million.
Date of last valuation: September 2025.
Bona fides: Reached $53 million in 2025 revenue, up from $24 million in 2024.
Cofounders: CEO CJ Przybyl, 43, a serial entrepreneur and former chief strategy officer at claims-management company Snapsheet; president Martha Dreiling, 41, a former executive at fintech companies including small business lender OnDeck Capital and renters insurance company Rhino.
