Spot Insurance
Spot Insurance is an Austin-based insurtech that embeds Refund Guarantee, Travel, and Injury coverage into the checkout flows of experience-based businesses such as ski resorts, tour operators, and booking platforms via an API-first platform with Stripe Connect revenue splitting.
- Company typePrivate
- Founded2019
- HeadquartersAustin, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Spot Insurance does
Spot Insurance Inc. is a private, Austin-based insurtech founded in 2019 that provides embedded financial protection products (Refund Guarantee, Travel Insurance, and Injury Insurance) to experience-based businesses via a B2B2C distribution model. The company's core technology is an API-first platform with a real-time quoting engine, Stripe Connect-powered payment routing for revenue splitting, and integration options spanning direct API, React/Vue SDKs, and a prebuilt widget. Coverage is sold at checkout as an opt-in add-on (typically 8-15% of booking value), with the platform engineered to keep customers on partner flows rather than redirecting to external insurance portals.
Spot generates revenue primarily through transaction fees on coverage sales, with revenue share passed to distribution partners and a default monthly invoicing model that leaves partners as Merchant of Record. Customer segments span ski resorts and mountain destinations (Alterra Mountain Company, Ikon Pass, Berkshire East), tour operators and travel platforms (Inntopia, The Flybook), event and registration platforms (Brushfire), and sports associations (USA BMX). Partnerships with channel platforms such as Aspenware extend reach across ski resort ecommerce customers without direct sales effort. The company has raised at least $69.6M across multiple rounds, most recently a $25M raise in May 2025, and reports hundreds of thousands of coverages sold annually with a 98% customer satisfaction metric.
Spot Insurance firmographics
Firmographics- Name
- Spot Insurance
- Legal name
- Spot Insurance Inc.
- Website
- https://getspot.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Spot Insurance is an Austin-based insurtech that embeds Refund Guarantee, Travel, and Injury coverage into the checkout flows of experience-based businesses such as ski resorts, tour operators, and booking platforms via an API-first platform with Stripe Connect revenue splitting.
- Ownership category
- akta.pro rank
Spot Insurance industry classification
Industry- Product category
- Embedded Insurance
- NAICS
- Insurance Agencies and Brokerages (524210), Other Insurance Related Activities (52429), Agencies, Brokerages, and Other Insurance Related Activities (5242)
- SIC
- Insurance Agents, Brokers & Service (6411), Accident & Health Insurance (6321)
- akta.pro primary industry
- Trip Cancellation/Interruption & Refund Protection Platforms (THALALAB)
- akta.pro secondary industries
- Embedded Travel Insurance Distribution & APIs (THALALAA), Underwriting, Pricing & Policy Administration (PAS) for Travel Insurance (THALALAK), Embedded Travel Insurance/Protection Payments & Claims Disbursement (THALAHAJ)
Keywords
Where Spot Insurance is headquartered
LocationHeadquarters
- HQ city
- Austin
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Spot Insurance business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Marketing or Sales, Technology or R&D, Operations, Infrastructure
Revenue model
- Transaction Fees / Coverage Sales: Partners earn revenue share on every coverage policy sold through their platform. Customers pay an optional fee (typically 8-15% of booking value) at checkout for coverage, with partners receiving a portion as distribution revenue.
- Revenue Retention for Partners: When customers cancel, Spot (as the coverage partner) issues refunds to customers while partners retain the original booking revenue. This allows partners to re-sell cancelled inventory, effectively earning revenue twice on the same inventory.
- Partner Invoicing: Spot's default payment model involves invoicing partners monthly for the previous month's enrollments. Partners remain Merchant of Record for all protection product sales, and Spot handles enrollment on their behalf.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Cancel For Any Reason (CFAR) coverage at checkout |
| Transaction based/ take rate | Pay-as-you-go | Refund Guarantee - up to 100% refunds |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels4 records
Spot Insurance product offering
Product offeringCore offering
Spot Insurance is an embedded insurance platform that sells financial protection products (Refund Guarantee, Travel Insurance, and Injury Insurance) to experience-based businesses such as ski resorts, tour operators, booking platforms, and event organizers. The company distributes coverage through API, SDKs, and prebuilt widgets that partners integrate into their checkout flows, allowing end customers to purchase cancel-for-any-reason or injury coverage as an add-on at point of sale.
Product overview
Spot Insurance is an embedded insurance platform offering a suite of financial protection solutions (Refund Guarantee, Travel Insurance, and Injury Insurance) designed for experience-based businesses. Founded in 2019 by outdoor enthusiasts and headquartered in Austin, Texas, Spot operates a B2B2C model, partnering with businesses across active and travel markets (ski resorts, tour operators, booking platforms) to embed coverage at point of sale. The platform integrates via API, React/Vue SDKs, or prebuilt widget, and features a digital quoting engine for real-time pricing, a streamlined claims process (sub-5-minute submission, under-24-hour payouts), and Stripe Connect payment routing with configurable revenue splitting. Partners can offer coverage as opt-in add-ons, bundle into pricing, or via landing pages, reaching customers through hundreds of thousands of coverages sold annually across diverse industries.
Differentiator
Problem solved
Functional benefit
Products and services
- Refund Guarantee Spot's core product providing coverage for non-refundable purchases up to 100%, enabling customers to cancel for any reason with no documentation required. Embedded directly into partner booking flows at checkout for experience-based businesses.
- Travel Insurance Cancellation and interruption coverage for non-refundable travel expenses including lodging, activity bundles, and bespoke travel packages. Works with experience-based businesses to protect travel costs.
- Injury Insurance Covers customers' out-of-pocket medical costs including deductibles, copays, and coinsurance, both in-network and out-of-network. Designed for passes, tickets, or memberships where customers may face increased injury risk during activities.
- Spot SDK Prebuilt software development kits for React and Vue (with others available on request) enabling partners to integrate Spot's insurance products into their platforms with minimal development effort.
- Spot Widget Prebuilt UI component (Add-On) that displays the insurance offer at checkout with minimal development work, styled to fit partner brand. Part of Spot's integration options alongside API and SDK.
Quantifiable outcome
- Conversion rates can drop 30-50% at redirect points where traditional protection sends customers away from platform
- +4 more outcomes
Companies that use Spot Insurance
Customer profileNamed customers5 records
Segments5 records
Ideal customer profiles3 records
Spot Insurance technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
AI capability1 record
Feature5 records
Spot Insurance partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core, flagship and minor.
- AspenwarecoreAspenware integration brings Spot's Refund Guarantee into their commerce platform for ski resorts. The integration allows resorts to activate coverage for daily lift tickets, lessons, and rentals. Technical groundwork completed for 2026-2027 winter season activation.
- Alterra Mountain CompanyflagshipAlterra Mountain Company (parent of Ikon Pass) partners with Spot to offer injury and refund coverage on season passes. Spot's policies integrate seamlessly with Alterra's systems for efficient claim management and customer service. The partnership enables seasonal injury and refund coverage across Alterra's portfolio of ski resorts.
- Ikon PassflagshipIkon Pass offers Spot's Refund Guarantee and injury coverage on season passes. Customers can opt in at checkout when purchasing passes through Ikon Pass. Coverage includes seasonal injury and refund protection.
- USA BMXcoreUSA BMX offers year-round injury coverage through Spot for BMX racers. Members can upgrade their USA BMX membership to include injury protection.
- Berkshire EastcoreBerkshire East Mountain Resort has partnered with Spot for years to provide injury insurance for their riders at Thunder Mountain bike park. Spot coverage is offered on lift tickets and season passes.
- BrushfireminorEvent registration platform offering Spot's cancel for any reason refund coverage on select events. Customers can opt in to Spot coverage when checking out.
- OutsideminorOutdoor media and experience company partnered with Spot for coverage offerings on events and experiences.
- InntopiaminorTravel technology platform enabling Spot distribution across their network of tour operators and activity providers.
- The FlybookminorBooking platform for tours and activities integrating Spot coverage for operators and their customers.
Scale indicators6 records
Recent moves5 records
Expansion highlights6 records
Spot Insurance competitors and assessment
Company assessmentDirect peers
- Cover Genius: Cover Genius is a global embedded insurance API platform offering protection products at checkout across travel, e-commerce, and ticketing. It directly competes with Spot in the embedded travel and experience protection category with a similar B2B2C distribution model.
- Bolttech: Bolttech is an embedded insurance exchange connecting insurers with distribution partners globally, with significant focus on travel and gadget protection. Its API-driven model and partnership-led distribution mirror Spot's B2B2C approach in travel and lifestyle verticals.
- Xcover: Xcover (by Cover-More) provides embedded travel and ticket protection APIs distributed through booking platforms and event ticketing partners. It overlaps directly with Spot's CFAR/refund guarantee offering and travel protection product for booking platforms.
Emerging players
- Battleface: Battleface is a travel and adventure-focused insurer offering customizable travel, cancellation, and adventure sports coverage through a digital platform. It serves similar niche segments (adventure travelers, sports) and overlaps with Spot's travel and injury insurance products.
Broad incumbents
- Allianz Travel: Allianz Travel is one of the largest global travel insurance providers offering trip cancellation, interruption, and medical coverage. As an incumbent, it competes across the broader travel insurance market where Spot also operates, but does not focus exclusively on embedded experience-economy distribution.
- AIG Travel: AIG Travel offers comprehensive travel insurance products including trip cancellation, medical, and baggage coverage globally. It is a broad incumbent in the same overall category as Spot's travel insurance offering but distributed primarily through traditional channels rather than embedded APIs.
- World Nomads: World Nomads provides travel insurance targeted at adventure and experiential travelers, covering trip cancellation, medical, and activity-specific risks. Its audience overlaps with Spot's outdoor and adventure customer base, making it a comparable incumbent in the experience-economy travel insurance space.
- Travel Insured International: Travel Insured International is a US-based travel insurance provider offering trip cancellation, interruption, and travel protection products through agents and online channels. It competes in the same trip protection category where Spot operates but uses traditional distribution rather than embedded checkout integration.
Others
- InsureMyTrip: InsureMyTrip is a travel insurance comparison marketplace aggregating policies from multiple carriers. While not a direct competitor, it serves the same end-customers searching for travel protection and represents an alternative distribution channel that competes for the same insurance dollars.
- Worthix: Worthix is not a direct insurance peer but operates as an insurtech-adjacent technology platform in the experience economy. Included as an adjacent ecosystem player given shared focus on experience-driven consumer protection.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Spot Insurance social profiles
Digital presenceSpot Insurance financial estimates
Financial estimateRevenue estimate
Valuation estimate
Spot Insurance leadership team
Management profileNumber of profiles
Profiles3 records
Spot Insurance funding detail
Funding detailFunding overview
Funding rounds7 records
Investors12 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Spot Insurance 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 Spot Insurance
What does Spot Insurance do?
Spot Insurance is an embedded insurance platform that sells financial protection products (Refund Guarantee, Travel Insurance, and Injury Insurance) to experience-based businesses such as ski resorts, tour operators, booking platforms, and event organizers. The company distributes coverage through API, SDKs, and prebuilt widgets that partners integrate into their checkout flows, allowing end customers to purchase cancel-for-any-reason or injury coverage as an add-on at point of sale.
Is Spot Insurance a public or private company?
Spot Insurance is a private company. It is classified as venture growth investor backed and is currently operating.
When was Spot Insurance founded?
Spot Insurance was founded in 2019. It employs 11 to 50 people.
Where is Spot Insurance based?
Spot Insurance is headquartered in Austin, United States, in the North America region.
How does Spot Insurance make money?
Three revenue lines are on record. Transaction Fees / Coverage Sales are the primary driver. The others are revenue Retention for Partners and partner Invoicing.
Who are Spot Insurance's main competitors?
Direct peers on record are Cover Genius, Bolttech and Xcover. Battleface is listed as an emerging player. Broad incumbents are Allianz Travel, AIG Travel, World Nomads and Travel Insured International. Others are InsureMyTrip and Worthix.
Does Spot Insurance have an API?
Yes. Spot offers a public-facing API accessible via their developer portal (docs.getspot.com). The API enables quoting for dynamic, real-time pricing and coverage generation. Key endpoints include quote requests (triggered when customers reach the checkout page), quote acceptance, and requote acceptance. Quote acceptance responses include payment values: spotPrice (total customer charge), partnerCut (partner retention), and invoiceAmount (amount routed to Spot via Stripe Connect). The platform also supports webhook notifications for refund events. Integration options include full API (direct quoting endpoints for flexibility), prebuilt SDKs for React and Vue (with others available on request), and a prebuilt widget for fastest integration. Developer documentation is at docs.getspot.com/docs/introduction.
What industry is Spot Insurance in?
Spot Insurance's product category is Embedded Insurance. Its primary akta.pro industry code is THALALAB, Trip Cancellation/Interruption & Refund Protection Platforms, with a secondary code of THALALAA, Embedded Travel Insurance Distribution & APIs. Its NAICS code is 524210 and its SIC code is 6411.