Singapore is now the clear center of insurtech innovation in Southeast Asia. Singapore is a fantastic place for startups and established businesses to rethink insurance for the digital age because it is a global financial center and the Monetary Authority of Singapore (MAS) is a forward-thinking regulator. Singapore’s insurtech scene is diverse, dynamic and changing quickly. It includes embedded insurance ecosystems, AI-driven underwriting and specialized managing general agents (MGAs) that use modern, legacy-free infrastructure.
The sector has moved past the initial hype phase and is now focused on long-term growth, integrating deeply into the ecosystem and getting a handle on the region’s complicated rules and regulations. Based on their market leadership, innovative business models, global recognition and contributions to shaping the future of insurance in Asia and beyond, this list highlights five insurtech companies that have a big presence and impact in Singapore.
How we selected the top insurtech companies
This list is based on things that are especially important to the insurtech ecosystem in Singapore. Companies were judged on how well-known and established they were in Singapore, how innovative and scalable their business models were, how well they were known and recognized in global markets, how well they worked with other companies and how much they helped improve insurance technology in the region. This is not an official ranking but a carefully chosen list to help investors, partners and industry stakeholders understand the main players in Singapore’s insurtech innovation.
List of top 5 insurtech companies in Singapore
- bolttech
- Singlife
- PRISM (Powered by Efinity)
- Igloo
- AMTD PolicyPal Group
Closer look at each insurtech company
1. bolttech
Bolttech is an international insurtech based in Singapore. Its goal is to create the best technology-based ecosystem for protection and insurance in the world. The company has become one of the fastest-growing insurtech companies in the world. It runs a technology-enabled insurance marketplace that connects insurers, distributors and customers through a large international network. Bolttech was named one of the top 100 insurtech innovators in the world in 2025, which shows how well it leads in distribution technology.
Key insurtech services and solutions
- Embedded insurance marketplace: an API-driven platform that lets non-insurance brands, like e-commerce sites and telcos, sell insurance products without any problems at the point of sale.
- Distribution technology: Connecting insurers with a vast network of distribution partners across multiple markets
- Insurance ecosystem: A single technology platform that makes it easier for insurers, distributors and customers to work together.
Notable strengths or differentiators
- Global scale: Serves customers in 35+ markets across North America, Asia, Europe and other regions, demonstrating exceptional cross-border capabilities
- Embedded finance leadership: With its API-driven platform, it is at the center of the trillion-dollar embedded finance opportunity.
- A trillion-dollar embedded investor confidence: Top investors back the company, demonstrating their strong faith in its business model and growth trajectory.
- Regulatory expertise: understands the complicated differences in regulations across many jurisdictions while keeping customers’ trust
Ideal partner type
Insurers seeking expanded distribution channels, distributors (e-commerce platforms, telcos and fintechs) wanting to offer insurance products and businesses looking to embed protection into customer journeys.
Contact information
Official website: bolttech
2. Singlife
Singlife started out as a life insurance company and has quickly grown into one of Singapore’s most successful financial services companies. The company got S$70 million in what was then the biggest Series A funding round ever for a Singapore-based insurtech company. This showed that early investors trusted its technology-driven approach to life insurance. Singlife has grown a lot since it started out as a startup and its dedication to innovation is clear in its work as an ecosystem builder. In 2026, Singlife and Microsoft worked together on the Singlife Connect Plus program to help high-growth insurance startups. The program gave them mentorship, help with regulations and access to the latest generative AI tools.
Key insurtech services and solutions
- Life insurance products that are digital-first: life, health and general insurance solutions that use technology
- Building an ecosystem: The Singlife Connect Plus accelerator program is helping to grow the next generation of insurtech startups.
- AI innovation: working with Microsoft to use generative AI in insurance solutions
- Regional growth: They are already in Singapore and the Philippines and want to be in all of ASEAN.
Notable strengths or differentiators
- Startup-to-market leader journey: Successfully moved from being a funded startup to an established market player, proving the insurtech model.
- Ecosystem commitment: The first financial services partner in ASEAN to work with Microsoft on the Startups Program, showing a commitment to growing the insurtech community as a whole.
- Regulatory expertise: Helps startups that are taking part with regulatory and compliance issues so they can carry out their go-to-market plans.
- Strategic vision: To be at the front of the insurtech transformation in Southeast Asia
Ideal partner type
Insurance innovators seeking mentorship and support, technology partners (like Microsoft) interested in insurance applications and customers seeking modern, digital-first insurance experiences.
Contact information
Official website: singlife.com
3. PRISM (Powered by Efinity)
PRISM is a new type of insurtech: a next-generation Managing General Agent (MGA) that was built from the ground up on modern, legacy-free infrastructure. Founded by industry veteran Bobby Heerasing and co-founders Sergei Korol and Jason Smith, PRISM began operations in Singapore and Hong Kong in December 2025. Efinity, a software company that provides modern insurance distribution and operations, powers the company. This shows how technology-led infrastructure can speed up the launch of MGAs while also making them more scalable, transparent and efficient.
Key insurtech services and solutions
- Data-driven underwriting for complicated risks in specialty and facultative insurance
- Technology-enabled MGA platform: Built on Efinity’s fully integrated operating foundation from the start
- Real-time portfolio analytics: AI-powered submission intake, digital underwriting workflows and policy issuance
- Operations without legacy systems: Built without the limitations of traditional systems, allowing for quick responses to changes in the market.
Notable strengths or differentiators
- Modern infrastructure: Launched with cutting-edge technology built in from the start, avoiding the problems that old systems cause for traditional insurers.
- Backing by Convex: Strong support from capacity providers that guarantees financial strength and the ability to underwrite loans
- Control and transparency: Efinity’s platform gives you real-time access to data and operational control that today’s markets need.
- Scalable foundation: Built to grow across products and regions without the problems that come with old systems
- Industry veteran leadership: Founded by experienced underwriters with deep market knowledge
Ideal client type
Brokers and clients seek specialty insurance solutions delivered through a transparent, data-driven and technology-enabled platform.
Contact information
Official website: www.prismmga.com
4. Igloo
Igloo, which used to be called Axenture, is a full-stack insurtech startup that started in 2016 and has since become a major player in Singapore’s insurtech scene. The company uses big data, real-time risk assessment and automated claims management from start to finish to come up with new B2B2C insurance solutions for platform partners and insurers. Igloo’s technology makes it easy for e-commerce, logistics and fintech platforms in Southeast Asia to add insurance to their services.
Key insurtech services and solutions
- B2B2C insurance solutions: Embedded insurance products for platform partners like e-commerce sites and logistics companies
- Real-time risk assessment: Using big data to set prices and underwrite policies
- Automated claims management: Digital processing of claims from start to finish to improve customer service
- Parametric insurance: new products that are based on objective events like the weather or flight delays
Notable strengths or differentiators
- Full-stack capability: Handles the whole insurance value chain, from designing products to processing claims.
- Regional footprint: Strong presence in Southeast Asia with a deep understanding of local markets
- Partnerships with platforms: Works with big e-commerce and logistics platforms to reach millions of customers.
- Data-driven innovation: Leverages real-time data for responsive, relevant insurance products
Ideal partner type
E-commerce platforms, logistics companies, fintechs and traditional insurers seeking to embed innovative insurance solutions into their customer offerings.
Contact information
Official website: https://iglooinsure.com/
5. AMTD PolicyPal Group
AMTD PolicyPal Group is a leading Singapore-based fintech and insurtech company that emerged from the successful PolicyPal startup. The group encompasses PolicyPal Pte. Ltd., Baoxianbaobao Pte. Ltd., PolicyPal Tech Pte. Ltd. and ValueChampion, forming a comprehensive financial technology ecosystem under the AMTD Digital umbrella. PolicyPal gained prominence as one of the first insurtechs to be recognized by the Monetary Authority of Singapore under its regulatory sandbox, paving the way for digital insurance innovation in the city-state.
Key insurtech services and solutions
- Digital insurance distribution: A platform that uses technology to help people buy and manage insurance
- Policy management: A single view of all of a person’s insurance policies
- Insurtech solutions: B2B tech products for insurance companies and distributors
- Part of the larger AMTD Digital fintech ecosystem is the integration of the financial ecosystem.
Notable strengths or differentiators
- Regulatory pioneer: First to enter the MAS regulatory sandbox, showing that they can handle Singapore’s strict rules and regulations.
- AMTD support: a strong corporate parent that gives you scale, resources and connections in the region
- Ecosystem approach: A part of an integrated fintech group that covers many areas of financial services
- Consumer focus: User-centric solutions making insurance more accessible and manageable for everyday consumers
Ideal partner type
Insurers seeking digital distribution capabilities, consumers wanting simplified insurance management and ecosystem partners across the AMTD network.
Contact information
Official website: AMTD PolicyPal Group
How to choose the right insurtech partner in Singapore
First, figure out what you want to do and why. Are you an insurance company looking for more ways to sell your products? Bolttech’s huge marketplace network lets you reach 35 or more markets right away. Are you a platform that wants to add insurance to customer journeys? Igloo’s B2B2C solutions make it easy to connect different systems. Are you a broker or a client who needs specialty insurance that is clear and up-to-date? The MGA platform from PRISM uses technology to do data-driven underwriting.
Second, look at the company’s geographic reach and knowledge of the law. If you do business in more than one Asian market, bolttech’s experience in multiple jurisdictions and Igloo’s presence in the region give you useful cross-border capabilities. If you mainly want to do business in Singapore but also want to expand into other ASEAN countries, Singlife’s ecosystem-building approach and relationships with regulators are great for your business.
Third, look at how mature the technology is and how well it can be integrated. Think about whether you need an API-driven marketplace (bolttech), a full-stack platform (Igloo), a modern MGA infrastructure (PRISM powered by Efinity), or ecosystem connectivity (AMTD PolicyPal Group). Ask for technical specs and integration demos to make sure that the new system will work with your current ones.
Fourth, think about where the company is in its life cycle and how well it fits with your strategy. Established companies like Singlife and bolttech have a lot of experience and a lot of customers. Newer companies like PRISM bring new ideas and modern infrastructure that aren’t held back by old problems. Find out which stage fits with your goals for the partnership and your level of risk tolerance.
Fifth, check to see if the partnership approach and culture are in line with each other. Instead of just being vendors, the best insurtechs see themselves as partners in the ecosystem. Singlife’s partnership with Microsoft to help startups grow is an example of this collaborative way of thinking. Check to see if potential partners are willing to work together to find solutions and invest in long-term relationships.
Singapore’s insurtech scene has world-class options for every step of the insurance process. Bolttech is the leader in global scale and new ideas for embedded insurance marketplaces. Singlife shows how a startup can become a market leader while also training the next generation of insurtech professionals. PRISM, which is powered by Efinity, is the future of specialty insurance because it has legacy-free, technology-enabled MGA infrastructure. Igloo offers full-stack B2B2C solutions for the platform economy in Southeast Asia. The AMTD PolicyPal Group has cutting-edge regulatory experience and ecosystem connectivity.
The right partner depends on your specific objectives—whether distribution expansion, technology enablement, specialty underwriting, or consumer engagement. We recommend engaging with shortlisted companies for detailed discussions, assessing their understanding of your business context and evaluating their commitment to partnership before committing.
Frequently asked questions
1. What is insurtech and why is Singapore a hub for it?
Insurtech is the use of new technologies to get more savings and efficiency out of the current insurance industry model. Singapore has become a major insurtech hub because it is a global financial center and is always looking ahead. regulator (MAS) that encourages new ideas with regulatory sandboxes, a strong digital infrastructure and a good location for the fast-growing Southeast Asian market.
2. How much do insurtech solutions cost in Singapore?
The price of a solution can vary a lot depending on the type of solution, the scope of the implementation and the pricing model (for example, SaaS subscriptions, revenue sharing, transaction fees, etc.). Embedded insurance solutions frequently incorporate revenue-sharing agreements with distribution partners. Platform licensing usually follows the pricing models for enterprise SaaS. To get an accurate cost estimate, ask for detailed proposals that are based on your needs.
3. How do I know if an insurtech company is reliable?
Reliability indicators include regulatory standing with MAS (if applicable), a proven track record and client list, partnerships with well-known insurers or technology providers (like Singlife’s partnership with Microsoft), support from investors (like bolttech’s world-class investors and PRISM’s Convex backing) and recognition from the industry (like bolttech’s top 100 insurtech ranking).
4. Are insurtech companies in Singapore suitable for traditional insurers?
Yes, a lot of insurtechs see themselves as partners with traditional insurers instead of competitors. Bolttech helps insurers reach more customers by giving them more ways to sell their products. Efinity gives MGAs like PRISM the power they need, but it also helps carriers with modern infrastructure. Microsoft and Singlife work together to grow the ecosystem. Traditional insurance companies can use insurtech tools to make their businesses more digital without having to build everything themselves.
5. What should I prepare before engaging an insurtech company?
Make sure you know exactly what your business goals are, who your target customers are, how you want to reach them, what technical integration needs you have, what your budget is and what rules you need to follow. If you’re an insurer looking for tech partners, get ready to give details of your current infrastructure and specific problems. If you’re a platform looking for embedded insurance, make sure you have data on customer volume and the ability to integrate.
6. How does Singapore’s regulatory environment affect insurtech?
MAS has a strong but supportive set of rules that encourages new ideas while keeping consumers safe and the economy stable. The regulatory sandbox has allowed innovators like PolicyPal to try out new ideas. Bolttech and other companies have to deal with a lot of different rules in more than 35 markets. PRISM’s launch shows that modern MGAs can meet the reporting and governance needs of capacity providers while working in both Singapore and Hong Kong.
