Insurely

Sweden · www.insurely.com · 8 vendors

Insurely is an open finance provider that offers solutions for the insurance and pension industry. The company aggregates and standardizes financial data, including insurance, pension, investment, mortgage, and loan data, from various financial institutions. This enables banks and insurers to access real-time personal financial data with user consent, facilitating improved customer experiences, lead generation, and product development.

Resilience scores

Technology vendors

Services catalogue

1 service in catalogue across 1 category; runs on 8 sub-vendors.

Insights

Last updated 2026-06-14 · revision 2

8 direct vendors, 174 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Migration Readiness: 9/10

Assessed by AI based on technology stack characteristics (cloud-native vs legacy, containerization, microservices), regulatory environment, data residency requirements, financial stability, and vendor lock-in risks. The score ranges from 0-10, where higher scores indicate better readiness for technology migration.

Insurely exhibits high migration readiness, scoring 85. Their internal tech stack, featuring Node.js, TypeScript, React, Java, Spring Boot, AWS, and Terraform, indicates a modern, cloud-native, and likely microservices-oriented architecture. The existing adoption of AWS and Infrastructure-as-Code with Terraform significantly reduces the complexity and effort for future migrations, whether to different cloud regions, other cloud providers, or for refactoring existing services. Their products are built around Open Finance APIs and real-time data, which generally implies a modular and API-first design, further aiding migration efforts. The geographic diversity of their service vendors (4 countries) suggests they are not overly reliant on a single vendor ecosystem, which can ease migration away from specific vendor technologies if needed. The primary unknowns that prevent a perfect score are the lack of specified data residency requirements, which could introduce significant compliance hurdles during migration, and the unspecified financial stability, which impacts the ability to fund large-scale migration projects. While vendor lock-in risk is unknown, their modern, cloud-agnostic (in principle) tech stack suggests a good degree of flexibility.

Compliance

7 in-scope frameworks identified; showing 3.

NIS2 (source) — Assessment Required

Insurely operates as a financial services provider in the EU, specifically as an open finance data infrastructure company serving banks and insurers. Financial services are classified as Essential Entities under NIS2. Non-compliance with NIS2 can result in significant fines (up to €10M or 2% of global turnover) and operational restrictions. Given their critical role in financial data infrastructure and multi-country operations, the risk level is high if not compliant.

Evidence: https://www.insurely.com/security, https://www.insurely.com/our-story

ISO 27001 (source) — Compliant

Insurely has achieved ISO 27001 certification, demonstrating compliance with international information security management standards. This significantly reduces information security risks and demonstrates mature security practices appropriate for their financial services operations.

Evidence: https://www.insurely.com/security

SOC 2 (source) — Assessment Required

As a cloud-based financial data service provider serving enterprise clients (banks, insurers), SOC2 compliance would be expected by customers for vendor risk management. While not legally required, lack of SOC2 could impact business relationships and customer trust. The risk is medium as it's more of a competitive/commercial risk than regulatory.

Evidence: https://www.insurely.com/security

Financials

Three-year financials

Financial Resilience Score: 5/10

Insurely AB is a venture-funded Swedish insurtech scale-up that has raised approximately USD 25-27 million in total disclosed funding, including an USD 18 million Series A led by Insight Partners in 2021 and a roughly USD 6 million extension in 2022. The company benefits from a credible institutional backer, blue-chip enterprise customers (BNP Paribas, Avanza, Nordnet, Skandia, ICA Försäkring), and regulatory status as a registered insurance intermediary supervised by Finansinspektionen. These provide a meaningful moat and customer stickiness typical of multi-year enterprise contracts in financial services. However, like most Series-A insurtechs, the company is likely operating at a loss with equity replenished primarily through share issues rather than retained earnings. Cash runway depends on continued ability to raise capital in a tougher European fintech financing environment. The business case is partially predicated on the EU FIDA (Financial Data Access) regulation creating a tailwind, which introduces regulatory timing risk. Customer concentration among a small number of large bank/insurer contracts and competition from open-banking players expanding into insurance (Tink/Visa, Nordigen/GoCardless) further constrain resilience. Overall, the company has reasonable backing and positioning but limited financial self-sufficiency.

Key strengths: Strong institutional backer (Insight Partners) supporting follow-on capital access, Blue-chip enterprise customer base with sticky multi-year contracts (BNP Paribas, Avanza, Nordnet, Skandia, ICA Försäkring), Regulatory tailwind from upcoming EU FIDA (Financial Data Access) regulation, Registered insurance intermediary status under Finansinspektionen creates barrier to entry, Total disclosed funding of approximately USD 25-27 million across seed, Series A, and extension rounds

Risk factors: Cash burn and path-to-profitability risk typical of Series-A insurtechs, Runway dependent on continued equity fundraising in tougher European fintech climate, Customer concentration risk with small number of large bank/insurer anchor contracts, Regulatory dependency on FIDA being adopted and implemented on schedule, Competitive pressure from open-banking players (Tink/Visa, Nordigen/GoCardless) expanding into insurance, FX and country-mix risk as company expands from SEK into EUR and DKK markets

Workforce by country

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