upcover featured as an emerging leader in Gallagher Re’s Global InsurTech Report on commercial insurance & AI

Australian insurtech upcover has been recognised in Gallagher’s Global InsurTech Report (Q3 2025) as one of the standout innovators redefining commercial insurance with artificial intelligence.

The report, produced by the team at Gallagher Re, highlights upcover among a small cohort of companies shaping the future of underwriting, distribution and risk management through advanced data and automation technologies.

The recognition builds on upcover's inclusion earlier this year in the CB Insights Insurtech 50, where it was named one of the world’s most promising private insurtechs. Together, the two honours mark the Sydney-based company’s growing global visibility as it scales its AI-native commercial insurance platform.

According to the Gallagher report, more than 74% of global insurtech funding in Q3 2025 went to AI-focused companies, as insurers worldwide turn to automation and predictive analytics to manage risk and improve underwriting efficiency. upcover’s inclusion underscores Australia’s contribution to this trend, with the company pioneering one of the few fully digital business insurance platforms capable of real-time quoting and embedded policy servicing.

“Being recognised in Gallagher’s Global InsurTech Report is another validation of the work we’re doing to bring commercial insurance into the digital age,” said Skye Theodorou, co-founder of upcover. 

 “One in three businesses that quote with us take insurance from us, because we’re offering coverage that actually fits their needs. Our AI-powered platform isn’t just about faster quoting, it’s about smarter coverage. We’re helping thousands of businesses find the right insurance in minutes, while supporting underwriters with deeper, data-driven insight.”

Anish Sinha, upcover co-founder and COO, added: “The momentum we’re seeing internationally shows that AI is transforming commercial insurance faster than anyone anticipated. We’re proud to be one of the few Australian companies recognised on the global stage for leading that change. Our mission remains the same: to make business insurance accessible, transparent and truly digital for every SME and emerging enterprise.”

upcover serves more than 60,000 businesses across Australia and New Zealand through a network of over 40 local and global insurers and underwriters. The company’s proprietary AI-native platform replaces outdated, broker-driven models by enabling tailored coverages including cyber, professional indemnity, fintech, health-tech and property insurance, all placed digitally via its risk exchange. 

The Gallagher report identifies commercial insurance as one of the fastest-evolving segments of the global insurtech landscape, with over US$470 million in funding raised by commercial-focused insurtechs in Q3 2025.

The report also notes AI’s growing role in underwriting, pricing and risk mitigation, themes that are central to upcover’s technology roadmap.