Switzerland-based InsurTech firm Insurteam, a travel insurance automation specialist, has closed a $1.3m funding round to accelerate its European expansion, according to VentureLab.
The capital will be used to extend Insurteam’s Managing General Agent (MGA) operations across the continent. As a former Venture Leaders Fintech participant, the company intends to use the funding to bring insurance products to market that fully incorporate its proprietary technology, with particular emphasis on underwriting performance and the customer experience.
Insurteam’s platform combines artificial intelligence, data analytics, and multichannel communication to automate both sales and claims management within the travel insurance sector. Its technology is capable of reducing claim management costs for insurers by as much as 80% and cutting processing times from several weeks down to just minutes, easing the workload on assistance teams in the process.
The company operates on a B2B2C basis, partnering with online travel agencies, tour operators, and wholesalers to help them manage insurance offerings while improving operational efficiency and customer satisfaction. Since launching, the platform has supported insurance policies for more than 100,000 customers, with operations already active in Italy, the Netherlands, and the DACH region.
Founded in 2024, Insurteam has grown from two to ten employees and has established MGA operations in Dublin, Ireland. The company more than doubled its revenue in 2025 and is projecting a comparable growth trajectory for 2026, backed by contracts already secured.
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