Car makers and dealers are increasingly the ones selling insurance, not just referring it. Wrisk is building the workflow to make that happen: a platform that lets OEMs embed branded motor insurance directly into the digital customer journey, reducing the friction of separate quotes, re-keying data, and disjointed post-sale servicing.
UK-based Wrisk has raised GBP 12 million in a Series B round, with Allianz Holdings plc investing alongside Alma Mundi Ventures and Opera Tech Ventures, according to Finsmes. The funding is aimed at accelerating Wrisk’s embedded insurance platform and supporting expansion across Europe.
Why this round fits the embedded insurance trend
Embedded insurance is moving from “nice-to-have add-on” to a commercial lever for OEMs. The buyer (the OEM or distribution partner) is paying for an end-to-end insurance workflow that can sit inside vehicle purchase and ownership experiences. The pain it removes is straightforward: low conversion from hand-offs to external insurers, limited data continuity from vehicle purchase to policy, and a lack of control over customer experience.
Wrisk’s positioning sits at the intersection of distribution and underwriting economics. By combining OEM relationships with platform and data capabilities, it aims to help insurers improve areas such as data enrichment, risk assessment and pricing strategy. That matters in motor, where small pricing errors compound quickly and portfolio performance is highly sensitive to risk selection.
Commercial traction: policies and growth
Wrisk reported triple-digit revenue growth in 2024 and said it has written more than 100,000 policies in the UK. For an embedded model, those metrics are a useful proxy for whether integrations are converting and whether partners are willing to keep pushing volume through the channel.
The retention story in embedded insurance is typically driven less by seat-based SaaS lock-in and more by operational switching costs: OEM integrations, product approvals, customer communications, and claims and servicing workflows. Once embedded into a customer journey, replacement becomes disruptive for both the OEM and the insurer.
Allianz: from underwriter to equity partner
A key signal in the round is Allianz’s role. Allianz has been Wrisk’s primary underwriter for nearly a decade, and its investment deepens that long-running commercial relationship.
Strategically, this is consistent with what OEMs increasingly want from insurance partners: tighter collaboration, faster product iteration, and more insight-led pricing and engagement. Allianz’s participation also reflects a broader market dynamic: insurers are looking to secure distribution and data access through deeper partnerships with embedded platforms, rather than treating them as interchangeable intermediaries.
For Wrisk, a strategic investor with underwriting capacity can de-risk scaling. Embedded distribution often requires rapid adjustments to pricing, product design, and customer servicing to match OEM brand requirements and conversion targets. Having a long-term underwriting partner aligned via equity can reduce execution friction as the platform expands into new European markets.
Where the money is going: data science and intelligence
Wrisk said the Series B proceeds will support continued investment in data science and data insights as it scales. The stated focus is to build deeper insights, personalised engagement and smarter portfolio performance.
That emphasis is commercially logical. In embedded motor insurance, differentiation increasingly comes from:
- More accurate risk assessment using richer customer and vehicle data (including telematics where applicable)
- Pricing strategy and portfolio steering to protect loss ratios while maintaining conversion
- Personalised engagement across ownership events (renewal, service, upgrades) to support retention and cross-sell
The competitive landscape includes incumbent insurers building direct-to-consumer propositions, OEM captive and partner programmes, and insurtech platforms offering distribution and orchestration layers. In that environment, Wrisk’s defensibility will hinge on how deeply it is embedded in OEM workflows and whether its data capabilities translate into measurable improvements in conversion and portfolio performance.
Outlook
This round is a clean “with-trend” signal: strategic capital flowing into embedded insurance infrastructure, particularly in motor where OEMs can control the point of sale and capture ongoing ownership data.
What this enables
- Faster European expansion of Wrisk’s OEM-embedded insurance programmes
- Deeper investment in data science to improve pricing and portfolio outcomes
- Tighter insurer-platform collaboration, with Allianz further aligned to Wrisk’s growth
What to watch
- How quickly Wrisk can replicate UK traction across multiple European markets
- Evidence that data and intelligence upgrades improve loss ratio and conversion, not just UX
- The degree to which OEM partners standardise on one platform versus multi-carrier, multi-platform setups