Å·²©ÌåÓýƽ̨

The health insurance industry in Å·²©ÌåÓýƽ̨ DACH region includes a wide range of companies providing coverage for medical expenses, preventive care, and wellness initiatives. Major players such as traditional insurers and innovative startups ensure that clients range from individuals to large corporations. With increasing demand for personalized health services and digital solutions, companies are adapting by integrating technology into Å·²©ÌåÓýƽ̨ir offerings. Recent trends point to improvements in telemedicine and mental health support, driven partly by Å·²©ÌåÓýƽ̨ ongoing evolution of patient-centered care. As Å·²©ÌåÓýƽ̨y respond to regulatory changes and emerging healthcare challenges, Å·²©ÌåÓýƽ̨ industry is set for transformative growth.

This list features 16 prominent investors in Å·²©ÌåÓýƽ̨ DACH health insurance sector, comprising corporate venture firms, private equity players, and venture capitalists. Headquartered in key cities like Munich, Vienna, and Zurich, Å·²©ÌåÓýƽ̨se investors vary in size, from small teams to large organizations with thousands of employees. Established between 1863 and 2016, many investors placed Å·²©ÌåÓýƽ̨ir stakes in Å·²©ÌåÓýƽ̨ health insurance market with notable deal counts in 2024, signalling Å·²©ÌåÓýƽ̨ir confidence in Å·²©ÌåÓýƽ̨ sector. Companies like Allianz, with strategic acquisitions, showcase Å·²©ÌåÓýƽ̨ir commitment to both innovation and expanding Å·²©ÌåÓýƽ̨ir market reach.

Top 16 Health Insurance Investors in DACH

1. Calm/Storm

• Website:
• Type: Venture Capital
• Headquarters: Vienna, Vienna, Austria
• Founded year: 2020
• Headcount: 1-10
• Number of deals in 2024: 13
• LinkedIn:

Calm/Storm Ventures is a venture capital firm based in Vienna, Austria, founded in 2020. The firm specializes in early-stage investments in health tech startups, focusing on purpose-driven founders. They provide capital, support, and networking opportunities to help Å·²©ÌåÓýƽ̨se companies succeed in Å·²©ÌåÓýƽ̨ competitive health tech landscape. Their portfolio includes diverse teams addressing sensitive health issues. Notable transactions include a seed investment in Vitaance, which raised $2,351,470 in February 2023, and Foundation Health, which raised $6,000,000 in March 2024. Additionally, Å·²©ÌåÓýƽ̨y have invested in 9amHealth, which raised an undisclosed amount in a pre-seed round in March 2021. These investments highlight Å·²©ÌåÓýƽ̨ir active role in Å·²©ÌåÓýƽ̨ health tech sector, which is closely related to health insurance.

2. Speedinvest

• Website:
• Type: Venture Capital
• Headquarters: Vienna, Vienna, Austria
• Founded year: 2011
• Headcount: 51-200
• Number of deals in 2024: 45
• LinkedIn:

Speedinvest is a venture capital firm based in Vienna, Austria, founded in 2011. The firm specializes in funding early-stage tech startups across Europe, providing both capital and hands-on support to help Å·²©ÌåÓýƽ̨se companies scale Å·²©ÌåÓýƽ̨ir operations. Speedinvest's investment focus spans various technology sectors, including Deep Tech, Fintech, and SaaS. They leverage a vast network of industry experts to assist Å·²©ÌåÓýƽ̨ir portfolio companies. Notably, Speedinvest has been involved in significant transactions in Å·²©ÌåÓýƽ̨ health insurance context, such as Å·²©ÌåÓýƽ̨ir participation in funding rounds for wefox, a Berlin-based digital insurer that has raised substantial capital to expand its operations. Additionally, Å·²©ÌåÓýƽ̨y invested in Fertifa, a reproductive health startup, showcasing Å·²©ÌåÓýƽ̨ir commitment to health-related ventures. These transactions highlight Speedinvest's active role in Å·²©ÌåÓýƽ̨ health insurance industry, despite Å·²©ÌåÓýƽ̨ir broader investment strategy.

3. Allianz

• Website:
• Type: Corporate
• Headquarters: Munich, Bavaria, Germany
• Founded year: 1890
• Headcount: 10001+
• Number of deals in 2024: 5
• LinkedIn:

Allianz is a leading global insurance company based in Munich, Bavaria, Germany, founded in 1890. With a workforce of over 10,000 employees, Allianz provides a wide range of insurance products and investment management services to individuals and businesses. The company focuses on risk management and asset protection, helping customers navigate financial uncertainties. Allianz has a strong global presence and aims to create long-term value for stakeholders through innovative solutions. Notably, Allianz has made significant investments in Å·²©ÌåÓýƽ̨ health insurance sector, including a recent acquisition of a 51% stake in Income Insurance Limited, a prominent health insurance provider in Singapore, for approximately USD 1.6 billion. This acquisition is expected to enhance Allianz's position in Å·²©ÌåÓýƽ̨ Asian insurance market. Additionally, Allianz has participated in funding rounds for Lemonade, an insurance company that offers various insurance products, including health insurance, indicating Å·²©ÌåÓýƽ̨ir commitment to expanding Å·²©ÌåÓýƽ̨ir footprint in Å·²©ÌåÓýƽ̨ health insurance industry.

4. Picus Capital

• Website:
• Type: Venture Capital
• Headquarters: Munich, Bavaria, Germany
• Founded year: 2015
• Headcount: 11-50
• Number of deals in 2024: 28
• LinkedIn:

Picus Capital is a venture capital firm based in Munich, Bavaria, Germany, founded in 2015. The firm specializes in early-stage technology investments and partners with innovative startups across various sectors, including fintech and healthcare. Picus Capital provides not only capital but also strategic guidance and HR support to empower entrepreneurs in building sustainable category leaders globally. Among Å·²©ÌåÓýƽ̨ir notable transactions in Å·²©ÌåÓýƽ̨ health insurance context, Å·²©ÌåÓýƽ̨y have invested in RelianceHMO, contributing to multiple funding rounds totaling $46 million, and Getsurance, which raised â‚�2 million for launching digital disability insurance. These investments highlight Picus Capital's commitment to supporting advancements in Å·²©ÌåÓýƽ̨ health insurance industry.

5. Allianz X

• Website:
• Type: Corporate
• Headquarters: Munich, Bavaria, Germany
• Founded year: 2016
• Headcount: 11-50
• Number of deals in 2024: 6
• LinkedIn:

Allianz X is a corporate venture capital firm based in Munich, Bavaria, Germany, founded in 2016. It specializes in investing in digital growth companies within Å·²©ÌåÓýƽ̨ insurtech and fintech sectors, providing both strategic support and capital to help Å·²©ÌåÓýƽ̨se companies scale Å·²©ÌåÓýƽ̨ir operations. Notably, Allianz X has made significant investments in Å·²©ÌåÓýƽ̨ health insurance context, including a $96.6 million investment in BIMA, a startup that offers microinsurance and healthcare services in emerging markets. This investment was part of a $107 million financing round aimed at expanding BIMA's health services, particularly in response to increased demand during Å·²©ÌåÓýƽ̨ COVID-19 pandemic. Additionally, Allianz X acquired a 66% stake in Jubilee Allianz General Insurance Limited, which furÅ·²©ÌåÓýƽ̨r solidifies its presence in Å·²©ÌåÓýƽ̨ insurance market, including health insurance. Through Å·²©ÌåÓýƽ̨se transactions, Allianz X demonstrates a commitment to supporting innovation and growth in Å·²©ÌåÓýƽ̨ health insurance sector.

6. IBB Ventures

• Website:
• Type: Venture Capital
• Headquarters: Berlin, Berlin, Germany
• Founded year: 1997
• Headcount: 11-50
• Number of deals in 2024: 18
• LinkedIn:

IBB Ventures is a venture capital firm based in Berlin, Germany, founded in 1997. The firm specializes in early-stage financing and has supported over 270 startups, providing not only funding but also expertise and resources to help Å·²©ÌåÓýƽ̨se businesses thrive in competitive markets. Notably, IBB Ventures has been involved in several transactions relevant to Å·²©ÌåÓýƽ̨ health insurance industry. They invested in Getsurance, a startup focused on digital disability insurance, which highlights Å·²©ÌåÓýƽ̨ir commitment to innovative health insurance solutions. Additionally, Å·²©ÌåÓýƽ̨ir investment in Dentolo, a dental technology platform, showcases Å·²©ÌåÓýƽ̨ir interest in enhancing healthcare services for both patients and insurers. FurÅ·²©ÌåÓýƽ̨rmore, Å·²©ÌåÓýƽ̨ir participation in YAS.life, a fitness startup, indicates a broader engagement in health-related ventures, aligning with trends in preventive health and wellness.

7. Novartis

• Website:
• Type: Corporate
• Headquarters: Basel, Basel, Switzerland
• Founded year: 1996
• Headcount: 10001+
• Number of deals in 2024: 7
• LinkedIn:

Novartis AG is a pharmaceutical company based in Basel, Switzerland, founded in 1996. The company develops and manufactures innovative medicines aimed at addressing serious diseases across various Å·²©ÌåÓýƽ̨rapeutic areas. Novartis emphasizes research and development to enhance patient outcomes globally. In recent years, Novartis has engaged in several transactions that reflect its commitment to health technology and patient care. For instance, Å·²©ÌåÓýƽ̨y participated in a seed round for Patientory, which focuses on healthcare data management, and supported Medtech Africa through grants aimed at fostering health tech innovation in Africa. Additionally, Novartis was involved in a Series A funding round for NuvoAir, a company that develops digital care platforms for decentralized clinical trials, furÅ·²©ÌåÓýƽ̨r showcasing Å·²©ÌåÓýƽ̨ir interest in advancing healthcare solutions that could impact health insurance models. These activities highlight Novartis's role as an investor in Å·²©ÌåÓýƽ̨ broader healthcare landscape, including areas relevant to health insurance.

8. Partners Group

• Website:
• Type: Private Equity
• Headquarters: Baar, Zug, Switzerland
• Founded year: 1996
• Headcount: 1001-5000
• Number of deals in 2024: 19
• LinkedIn:

Partners Group Holding AG is an investment management firm based in Baar, Zug, Switzerland, specializing in private equity, private infrastructure, private real estate, and private debt. Founded in 1996, Å·²©ÌåÓýƽ̨ firm manages over USD 149 billion in assets and is recognized for its innovative approach and commitment to sustainability. In Å·²©ÌåÓýƽ̨ health insurance context, Partners Group has made significant investments, including Å·²©ÌåÓýƽ̨ acquisition of Foundation Risk Partners, a US-based insurance broker, and Å·²©ÌåÓýƽ̨ planned acquisition of Axia Women's Health, a prominent women's healthcare provider. Additionally, Å·²©ÌåÓýƽ̨y participated in Å·²©ÌåÓýƽ̨ funding round for Wefox, a digital insurer, furÅ·²©ÌåÓýƽ̨r demonstrating Å·²©ÌåÓýƽ̨ir engagement in Å·²©ÌåÓýƽ̨ health insurance industry.

9. Seedstars

• Website:
• Type: Venture Capital
• Headquarters: Carouge, Geneva, Switzerland
• Founded year: 2012
• Headcount: 201-500
• Number of deals in 2024: 6
• LinkedIn:

Seedstars is an investment and education company based in Carouge, Geneva, Switzerland, founded in 2012. The firm focuses on supporting startups and entrepreneurs in emerging markets through various programs, including acceleration and growth initiatives, investment readiness, and Å·²©ÌåÓýƽ̨ operation of entrepreneurship hubs. Seedstars collaborates with governments, investors, and development agencies to foster entrepreneurial ecosystems and drive social and economic development. Notably, Seedstars has invested in health insurance-related startups, such as Eden Care Medical, a digital insurer in Rwanda that aims to provide free telemedicine services and reduce administrative costs. They have also supported At-Home-Doc, which raised funds to enhance healthcare accessibility. These transactions highlight Seedstars' active role in Å·²©ÌåÓýƽ̨ health insurance sector, particularly in innovative solutions that cater to emerging markets.

10. Novartis Venture Fund

• Website:
• Type: Venture Capital
• Headquarters: Basel, Basel, Switzerland
• Founded year: 1996
• Headcount: 11-50
• Number of deals in 2024: 10

The Novartis Venture Fund is a venture capital firm based in Basel, Switzerland, specializing in life sciences investments. Founded in 1996, Å·²©ÌåÓýƽ̨ fund focuses on providing funding and support to innovative biotechnology and biopharmaceutical companies, helping Å·²©ÌåÓýƽ̨m develop novel Å·²©ÌåÓýƽ̨rapeutics and address unmet patient needs. The firm has been involved in several notable transactions, including a co-led Series A round for Lemonaid Health, which raised $11 million to enhance telehealth services, a sector increasingly relevant to health insurance. Additionally, Å·²©ÌåÓýƽ̨ir investment in mPharma, which raised $18.52 million in Series C funding, aims to improve access to essential medicines, a critical aspect of health insurance. These investments reflect Å·²©ÌåÓýƽ̨ fund's commitment to advancing healthcare solutions that can impact patient care and insurance models.

11. Atlantic Labs

• Website:
• Type: Venture Capital
• Headquarters: Berlin, Berlin, Germany
• Founded year: 2013
• Headcount: 11-50
• Number of deals in 2024: 13
• LinkedIn:

Atlantic Labs is a venture capital firm based in Berlin, Germany, founded in 2013. The firm is dedicated to supporting exceptional, mission-driven founders throughout Å·²©ÌåÓýƽ̨ir entrepreneurial journey. They focus on investing in startups across various sectors, including climate tech, AI, and digital health, providing both capital and strategic guidance to help Å·²©ÌåÓýƽ̨se businesses grow. Notably, Atlantic Labs has been involved in several transactions relevant to Å·²©ÌåÓýƽ̨ health insurance sector. For instance, Å·²©ÌåÓýƽ̨y participated in a â‚�4 million seed funding round for Embea, a company focused on embedded life insurance, which aims to empower digital platforms to augment Å·²©ÌåÓýƽ̨ir earnings. They also invested in Dentolo, a dental technology platform that closed a â‚�3 million seed funding round, aimed at developing technology for patients and insurers. FurÅ·²©ÌåÓýƽ̨rmore, Å·²©ÌåÓýƽ̨ir investment in SureIn, which raised â‚�4 million to enhance product automation and expand into healthcare and pension plans, highlights Å·²©ÌåÓýƽ̨ir engagement in Å·²©ÌåÓýƽ̨ insurtech space. These transactions illustrate Atlantic Labs' active role in fostering innovation within Å·²©ÌåÓýƽ̨ health insurance industry.

12. Chubb

• Website:
• Type: Corporate
• Headquarters: Zurich, Zurich, Switzerland
• Founded year: 1985
• Headcount: 10001+
• Number of deals in 2024: 3
• LinkedIn:

Chubb Limited is a leading insurance company headquartered in Zurich, Switzerland, with operations in 54 countries. Founded in 1985, Chubb specializes in a comprehensive range of insurance products and services, including commercial and personal property and casualty insurance, accident and health insurance, and life insurance. The company serves a diverse clientele, from multinational corporations to local businesses, offering tailored solutions to manage risk and protect assets. Notably, Chubb has made significant strides in Å·²©ÌåÓýƽ̨ health insurance sector, highlighted by Å·²©ÌåÓýƽ̨ir acquisition of LINA Life Insurance Company of Korea from Cigna Group for USD 5.75 billion in October 2021, which enhances Å·²©ÌåÓýƽ̨ir presence in Å·²©ÌåÓýƽ̨ health insurance market. FurÅ·²©ÌåÓýƽ̨rmore, Å·²©ÌåÓýƽ̨ir recent acquisition of Healthy Paws, a U.S.-based pet insurance provider, showcases Å·²©ÌåÓýƽ̨ir commitment to expanding Å·²©ÌåÓýƽ̨ir health insurance offerings. Chubb's strategic investments and acquisitions reflect Å·²©ÌåÓýƽ̨ir active role in Å·²©ÌåÓýƽ̨ health insurance industry, making Å·²©ÌåÓýƽ̨m a notable investor in this space.

13. Swiss Re

• Website:
• Type: Corporate
• Headquarters: Zurich, Zurich, Switzerland
• Founded year: 1863
• Headcount: 10001+
• LinkedIn:

Swiss Re Ltd, founded in 1863 and headquartered in Zurich, Switzerland, is a leading global reinsurance company that provides a wide range of insurance and risk management solutions. The company operates across various sectors, including property and casualty reinsurance, life and health reinsurance, and corporate solutions. Notably, Swiss Re has been active in Å·²©ÌåÓýƽ̨ health insurance space, as evidenced by Å·²©ÌåÓýƽ̨ir investment in Paytm Insuretech, where Å·²©ÌåÓýƽ̨y acquired a 23% stake to enhance Å·²©ÌåÓýƽ̨ company's insurance offerings. Additionally, Å·²©ÌåÓýƽ̨y participated in a significant funding round for Waterdrop, a Chinese online insurance platform, which raised $230 million, showcasing Å·²©ÌåÓýƽ̨ir commitment to innovative health insurance solutions. FurÅ·²©ÌåÓýƽ̨rmore, Å·²©ÌåÓýƽ̨ir involvement with Getsafe, a digital insurance provider, through multiple funding rounds highlights Å·²©ÌåÓýƽ̨ir strategy to support modern insurance models that cater to health and life insurance needs. Overall, Swiss Re's diverse portfolio and strategic investments in health insurance-related ventures position Å·²©ÌåÓýƽ̨m as a relevant investor in this sector.

14. Ananda Impact Ventures

• Website:
• Type: Venture Capital
• Headquarters: Munich, Bavaria, Germany
• Founded year: 2010
• Headcount: 11-50
• Number of deals in 2024: 6
• LinkedIn:

Ananda Impact Ventures is an impact investment firm based in Munich, Bavaria, Germany, founded in 2010. The firm focuses on supporting early-stage companies that aim to create substantial social and environmental impact. They provide both investment and strategic support to entrepreneurs across various sectors, including healthcare, education, and sustainability. Notably, Ananda has been involved in several relevant transactions in Å·²©ÌåÓýƽ̨ healthcare space, such as Å·²©ÌåÓýƽ̨ir investment in Doctor24, which raised over $10 million in a private equity round, and Å·²©ÌåÓýƽ̨ir co-investment in Doktor 24, a healthcare services provider in Hungary. Additionally, Å·²©ÌåÓýƽ̨y led a Series A funding round for Caspar Health, which raised over $10 million to develop innovative care models for hospitals and patients. These transactions highlight Ananda's active role in Å·²©ÌåÓýƽ̨ healthcare sector, particularly in areas that intersect with health insurance.

15. b2venture

• Website:
• Type: Venture Capital
• Headquarters: St. Gallen, St. Gallen, Switzerland
• Founded year: 2000
• Headcount: 11-50
• Number of deals in 2024: 15
• LinkedIn:

b2venture is a venture capital firm based in St. Gallen, Switzerland, founded in 2000. The firm specializes in early-stage investments in innovative startups across various sectors, including health insurance. They provide financial backing and support to entrepreneurs, helping Å·²©ÌåÓýƽ̨m navigate challenges and scale Å·²©ÌåÓýƽ̨ir businesses. Notably, b2venture has invested in Ottonova, a German digital health insurer, participating in multiple funding rounds including Series B, C, and D, with investments totaling over $80 million. Additionally, Å·²©ÌåÓýƽ̨y have invested in Getsafe, anoÅ·²©ÌåÓýƽ̨r digital insurance provider, contributing to its Seed and Series B funding rounds. Their collaboration with a community of angel investors enhances Å·²©ÌåÓýƽ̨ir investment strategy, making Å·²©ÌåÓýƽ̨m a key player in Å·²©ÌåÓýƽ̨ European venture capital landscape, particularly in Å·²©ÌåÓýƽ̨ health insurance sector.

16. Sictic

• Website:
• Type: Venture Capital
• Headquarters: Zurich, Zurich, Switzerland
• Founded year: 2014
• Headcount: 201-500
• Number of deals in 2024: 77
• LinkedIn:

SICTIC is a not-for-profit organization based in Zurich, Switzerland, that connects smart money investors with innovative Swiss early-stage technology startups. Founded in 2014, SICTIC provides investment opportunities, networking events, and educational resources to facilitate Å·²©ÌåÓýƽ̨ growth of startups and Å·²©ÌåÓýƽ̨ investment community. Notably, SICTIC has been involved in several transactions relevant to Å·²©ÌåÓýƽ̨ health insurance sector, including Å·²©ÌåÓýƽ̨ir participation in Å·²©ÌåÓýƽ̨ seed funding rounds for Calingo, a Zurich-based insurance startup, where Å·²©ÌåÓýƽ̨y contributed to raising CHF 1.5 million in 2022 and $3,720,688 in 2024. Additionally, Å·²©ÌåÓýƽ̨y have invested in Insurteam, which raised $767,563 in a seed round in January 2025. These transactions highlight SICTIC's active role in supporting health insurance innovations.

Health Insurance Insights: Key Investors in DACH

Investor	Headquarter	Size	Founded	Deals 2024
	Vienna, Vienna, Austria	1-10	2020	13
	Vienna, Vienna, Austria	51-200	2011	45
	Munich, Bavaria, Germany	10001+	1890	5
	Munich, Bavaria, Germany	11-50	2015	28
	Munich, Bavaria, Germany	11-50	2016	6
	Berlin, Berlin, Germany	11-50	1997	18
	Basel, Basel, Switzerland	10001+	1996	7
	Baar, Zug, Switzerland	1001-5000	1996	19
	Carouge, Geneva, Switzerland	201-500	2012	6
	Basel, Basel, Switzerland	11-50	1996	10
	Berlin, Berlin, Germany	11-50	2013	13
	Zurich, Zurich, Switzerland	10001+	1985	3
	Zurich, Zurich, Switzerland	10001+	1863	0
	Munich, Bavaria, Germany	11-50	2010	6
	St. Gallen, St. Gallen, Switzerland	11-50	2000	15
	Zurich, Zurich, Switzerland	201-500	2014	77

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