Upcover is the only Australian company named on this year’s CB Insights Insurtech 50 list.

The commercial insurance platform was recognised as one of the world’s 50 most promising insurtechs based on funding, partnerships, innovation, team strength, technical capability and growth potential.

Co-founder Anish Sinha says it is a “huge milestone”.

“We’re the only business of our kind in the Australian market,” he said. “We’ve hit a real stride over the past 12 months and look forward to continuing to roll out new and innovative products that push the boundaries of B2B insurance.”

Sydney-based Upcover says it serves more than 60,000 businesses through more than 40 underwriters. The platform enables businesses to secure tailored covers including cyber, professional indemnity, fintech, healthtech and property. 

Upcover completed a $19 million funding round in February.