PolicyMe
PolicyMe is a Canadian digital insurance platform offering term life, critical illness, health and dental, and home and auto insurance to individual Canadians through a 100% online application, underwritten by Securian Canada and distributed via D2C plus fintech partnerships.
- Company typePrivate
- Founded2018
- HeadquartersToronto, Canada
- Headcount101–250
- GTM typeB2C
- OfferingServices
What PolicyMe does
PolicyMe is a Canadian digital insurance platform founded in 2018 and headquartered at 199 Bay Street, Toronto. The company offers term life insurance, guaranteed issue life insurance, critical illness insurance, health and dental insurance, and home and auto insurance (currently Ontario-only for P&C) to individual Canadians and families. All life, critical illness, and health & dental policies are underwritten and issued by Securian Canada (Canadian Premier Life Insurance Company, A.M. Best A1), positioning PolicyMe as a licensed insurance administrator and technology provider rather than the risk-bearing carrier.
The core technology is a proprietary reflexive underwriting system built in partnership with Securian Canada that uses over 1,000 rules to evaluate applicants across the full life insurance spectrum (fully underwritten, simplified issue, and guaranteed issue) in a single real-time session, with most applicants approved without a medical exam. The platform supports a 100% online application process completed in approximately 20 minutes, province-specific content and quoting flows, and a hybrid self-serve / licensed-advisor support model. PolicyMe is licensed across all Canadian provinces and territories, including Quebec for Insurance of Persons.
PolicyMe generates revenue through insurance premiums (subscription-style monthly billing starting at $18/month for term life, $12/month for critical illness, and $45/month for health and dental) and referral and partnership arrangements with embedded fintech distribution partners such as Wealthsimple and Embark. The company has raised CAD $51 million cumulative across a $18M CAD Series A in September 2022 (RGAX, Securian Financial, SiriusPoint) and an additional $30M CAD between 2023-2025 (Blue Cross Life Insurance Company of Canada, Securian Canada). CEO Andrew Ostro leads the company, with co-founder Jeffrey McKay serving as CTO.
PolicyMe firmographics
Firmographics- Name
- PolicyMe
- Legal name
- PolicyMe Corp.
- Website
- https://policyme.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- PolicyMe is a Canadian digital insurance platform offering term life, critical illness, health and dental, and home and auto insurance to individual Canadians through a 100% online application, underwritten by Securian Canada and distributed via D2C plus fintech partnerships.
- Ownership category
- akta.pro rank
PolicyMe industry classification
Industry- Product category
- Digital Insurance
- NAICS
- Direct Life Insurance Carriers (524113), Agencies, Brokerages, and Other Insurance Related Activities (5242), Direct Health and Medical Insurance Carriers (524114), Direct Property and Casualty Insurance Carriers (524126)
- SIC
- Life Insurance (6311), Accident & Health Insurance (6321), Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Level Term Life Insurance (FSAIAAAA)
- akta.pro secondary industries
- Simplified Issue (No-Exam) Term Life Insurance (FSAIAAAH), Guaranteed Issue Term Life Insurance (FSAIAAAG)
Keywords
Where PolicyMe is headquartered
LocationHeadquarters
- HQ city
- Toronto
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
PolicyMe business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Life Insurance Premiums: PolicyMe earns revenue through insurance premiums paid by customers for term life insurance, critical illness insurance, health and dental insurance, and home and auto insurance policies. The company acts as a licensed insurance administrator and technology provider on behalf of Securian Canada.
- Referral and Partnership Revenue: PolicyMe generates revenue through referral partnerships with companies like Embark and Wealthsimple, where these partners direct their clients to PolicyMe's insurance platform in exchange for referral arrangements.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Term Life Insurance starting at $18/month |
| Subscription | Monthly | Critical Illness Insurance starting at $12/month |
| Subscription | Monthly | Health and Dental Insurance starting at $45/month |
| Subscription | Monthly | Home and Auto Insurance bundle savings up to $320 |
| Subscription | Monthly | Wealthsimple Complimentary Premium Period |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels6 records
PolicyMe product offering
Product offeringCore offering
PolicyMe is a Canadian digital-first insurance platform that distributes and administers term life insurance, guaranteed issue life insurance, critical illness insurance, health and dental insurance, and home and auto insurance directly to consumers through a 100% online application process completed in approximately 20 minutes. The company acts as a licensed insurance administrator on behalf of underwriter Securian Canada (A.M. Best A1), using a proprietary reflexive underwriting engine with over 1,000 rules to match applicants to the best risk-adjusted price in real time, without medical exams for most applicants.
Product overview
PolicyMe is a Canadian digital insurance platform offering a multi-product portfolio of life, critical illness, health and dental, and home and auto insurance products. The core offerings include Term Life Insurance (with guaranteed issue variant), Critical Illness Insurance covering 44 conditions, Health and Dental Insurance with multiple plan tiers (Economic, Classic, Advanced), and Home and Auto Insurance. The platform operates as a digital-first solution backed by Securian Canada, emphasizing streamlined 100% online applications completed in approximately 20 minutes without traditional agent appointments or medical exams for most applicants.
Differentiator
Problem solved
Functional benefit
Products and services
- Term Life Insurance
Quantifiable outcome
- Rates as low as 23% below industry average for term life insurance
- +2 more outcomes
Companies that use PolicyMe
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
PolicyMe technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability2 records
Feature3 records
PolicyMe partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- Securian CanadacoreStrategic partnership for underwriting and product issuance. Securian Canada (Canadian Premier Life Insurance Company) issues all PolicyMe life, critical illness, and health & dental policies. Developed the unified life insurance evaluation platform with over 1,000 reflexive underwriting rules. Rated A1 by A.M. Best.
- EmbarkcoreReferral partnership with Embark (RESP promoter) launched December 2025 to offer families integrated financial planning combining education savings tools with life insurance guidance. Collaboration includes educational resources like webinars and financial planning content.
- WealthsimplecoreCo-branded partnership offering complimentary premium periods to eligible Wealthsimple clients on Term Life (up to $1M) and Critical Illness (up to $250K) policies. Premium waivers based on Wealthsimple tier: Core (3 months), Premium (6 months), Generation (12 months).
Scale indicators9 records
Recent moves6 records
Expansion highlights6 records
PolicyMe competitors and assessment
Company assessmentDirect peers
- Sonnet Insurance: Canadian digital-first insurance platform offering home and auto insurance online. Most directly comparable to PolicyMe on digital distribution, Canadian focus, and insurtech operating model.
- Breeze Insurance: Canadian digital life insurance provider focused on simplified-issue, no-medical-exam coverage. Closest direct competitor to PolicyMe's core life insurance product and target segment.
- Haven Life: US-based digital-first term life insurer using algorithmic underwriting and a fully online application. Operates the same DTC digital life insurance playbook as PolicyMe, with MassMutual as underwriter.
- Ethos Life: US digital life insurance platform using predictive underwriting to issue policies in minutes without medical exams. Closely aligned with PolicyMe's simplified-issue, technology-led model.
Broad incumbents
- Lemonade: Public digital insurance platform spanning renters, home, auto, pet, and life. Operates a similar AI-driven, mobile-first, brand-led model and serves as the public-market comparable for digital insurtechs like PolicyMe.
- Manulife: One of Canada's largest life and health insurers with broad individual and group coverage. Represents the incumbent competitive set PolicyMe is disrupting in the term life and health & dental categories.
- Sun Life Financial: Major Canadian life, health, and wealth insurer with growing digital direct-to-consumer capabilities. A traditional incumbent rapidly digitizing in the same categories PolicyMe targets.
- Canada Life: Large Canadian life and health insurer offering individual life, critical illness, and health & dental products. Direct overlap with PolicyMe's product portfolio and target customers.
- iA Financial Group: Canadian insurance and wealth manager with individual life, critical illness, and group benefits lines. Competes in the same Canadian individual insurance categories as PolicyMe.
Regional players
- Wawanesa Life: Canadian mutual insurer with life and P&C products primarily distributed through brokers. Comparable product set and Canadian footprint, but uses a traditional intermediated distribution model rather than PolicyMe's direct digital channel.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
PolicyMe social profiles
Digital presencePolicyMe financial estimates
Financial estimateRevenue estimate
Valuation estimate
PolicyMe leadership team
Management profileNumber of profiles
Profiles2 records
PolicyMe funding detail
Funding detailFunding overview
Funding rounds7 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
PolicyMe M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about PolicyMe
What does PolicyMe do?
PolicyMe is a Canadian digital-first insurance platform that distributes and administers term life insurance, guaranteed issue life insurance, critical illness insurance, health and dental insurance, and home and auto insurance directly to consumers through a 100% online application process completed in approximately 20 minutes. The company acts as a licensed insurance administrator on behalf of underwriter Securian Canada (A.M. Best A1), using a proprietary reflexive underwriting engine with over 1,000 rules to match applicants to the best risk-adjusted price in real time, without medical exams for most applicants.
Is PolicyMe a public or private company?
PolicyMe is a private company. It is classified as venture growth investor backed and is currently operating.
When was PolicyMe founded?
PolicyMe was founded in 2018. It employs 101 to 250 people.
Where is PolicyMe based?
PolicyMe is headquartered in Toronto, Canada, in the North America region.
How does PolicyMe make money?
Two revenue lines are on record. Life Insurance Premiums are the primary driver. The others are referral and Partnership Revenue.
Who are PolicyMe's main competitors?
Direct peers on record are Sonnet Insurance, Breeze Insurance, Haven Life and Ethos Life. Broad incumbents are Lemonade, Manulife, Sun Life Financial, Canada Life and iA Financial Group. Wawanesa Life is listed as a regional player.
Does PolicyMe have an API?
No public API is recorded for PolicyMe.
What industry is PolicyMe in?
PolicyMe's product category is Digital Insurance. Its primary akta.pro industry code is FSAIAAAA, Level Term Life Insurance, with a secondary code of FSAIAAAH, Simplified Issue (No-Exam) Term Life Insurance. Its NAICS code is 524113 and its SIC code is 6311.