UK-based insurtech firm Wrisk has secured strategic backing from Allianz in a Series B funding round, marking a significant milestone as the company scales its embedded insurance model across the automotive and mobility sectors.
The investment brings Allianz, one of the world’s largest insurance groups, onto Wrisk’s cap table as both a strategic partner and long-term supporter. While financial terms of the round were not disclosed, the funding is expected to accelerate Wrisk’s product development, deepen insurer and OEM partnerships, and support expansion into new European and international markets.
Founded in 2016, Wrisk provides digital insurance infrastructure that allows brands, particularly car manufacturers and mobility providers, to embed tailored insurance products directly into the customer journey. Its platform enables end-to-end policy management, pricing, claims handling and compliance, allowing partners to offer insurance as a seamless extension of their core product rather than as a standalone add-on.
The Allianz backing signals growing confidence among established insurers in embedded and usage-based insurance models, as traditional distribution channels face disruption from digital-first competitors and changing consumer expectations. By partnering with Wrisk, Allianz gains access to modern distribution technology and new customer segments, while Wrisk benefits from Allianz’s underwriting strength, balance sheet and global reach.
The Series B round follows a period of steady growth for Wrisk, which has expanded its footprint in the UK and Europe and strengthened relationships with automotive brands looking to retain more control over the customer lifecycle. Demand for embedded insurance has risen sharply as manufacturers seek recurring revenue streams and tighter customer engagement in an increasingly competitive mobility market.
Wrisk said the new capital will be used to enhance its technology stack, invest in data and analytics capabilities, and support regulatory approvals in additional jurisdictions. The company is also expected to grow its engineering and commercial teams to meet rising demand from enterprise clients.
The deal reflects a broader trend of collaboration between incumbents and insurtechs, as global insurers increasingly favour strategic investments over outright competition in the race to modernise insurance distribution.
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