Wakam

Name

Wakam

Legal name

Wakam SA

Website

https://wakam.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

251–500 employees

Ownership category

akta.pro rank

Product category

Embedded Insurance Infrastructure

NAICS

Direct Property and Casualty Insurance Carriers (524126), Insurance Agencies and Brokerages (524210)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL)

akta.pro secondary industries

Insurance Program Administration & MGA/MGU Services (FSAEADAK), Claims Management & Digital FNOL Platforms (FSAGAGAC)

Keywords

• Embedded insurance platform
• Insurance infrastructure APIs
• White-label insurance solutions
• MGA partnership platform
• Digital insurance underwriting

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Insurance Premium Revenue: Wakam generates revenue primarily through gross written premiums (GWP) from insurance products distributed by partners. The company carries the underwriting risk while partners handle distribution and customer relationships. Wakam shares profits with partners from day one of live operations.
2. Platform Services - Addon Fees: The Play&Plug platform offers a free 'Bespoke' Plan for co-creating insurance products. Optional paid Addons include the AML Compliance Solution, priced per Purchase Order with firm, final, and non-refundable fixed fees. Additional services may be billed according to Wakam's rate card.
3. Social Impact Fund (Wakam for Good): Wakam for Good endowment fund receives contributions tied to partner performance: 1 euro per contract issued by partners, contributing to mental health and precision psychiatry research.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Wakam provides an API-first embedded insurance platform (Play&Plug) that enables MGAs and embedded insurance orchestrators to create, price, distribute, and manage white-label insurance products across 30+ European markets. Wakam carries the underwriting risk and regulatory compliance (French ACPR, UK PRA/FCA approvals), while partners retain full autonomy over pricing, claims, and customer relationships with profit sharing from day one. The platform is supported by the Wakam Pricing API (sub-300ms response, 99.9% uptime), AI-powered underwriting and fraud detection, a Snowflake data lake for real-time portfolio analytics, and an AML Compliance Solution.

Product overview

Wakam is a digital B2B2C insurer offering an embedded insurance platform for Europe that empowers MGAs and embedded insurance orchestrators to achieve speed, scale, and compliance. The core offering is the Play&Plug Platform, which combines the free Bespoke Plan for co-creating tailored insurance products with optional paid add-ons like the AML Compliance Solution. Partners access real-time capabilities through the Wakam Pricing API and Play&Plug Distributors Portal. The platform organizes insurance solutions across four distinct ecosystems: Mobility on the Move (transportation coverage), Singleton (independent professionals), Virtual Economy (digital lifestyle), and Live Better & Longer (health and life coverage). Wakam also operates Wakam for Good, an endowment fund supporting mental health research.

Differentiator

Problem solved

Functional benefit

Products and services

• Play&Plug Platform Digital B2B2C insurance platform that enables MGAs and embedded insurance orchestrators to create, distribute, and manage bespoke insurance products across 30+ European markets with API-first architecture.
• Plan Bespoke Free core plan providing co-creation of tailor-made insurance products including KYB self-enrollment, product configurator, innovative pricing models, project management tools, plain language documentation with Lisiscore readability scores, and access to the Wakam Pricing API.
• AML Compliance Solution Addon Optional paid API service automating customer verification and monitoring for AML/CFT compliance, including automated screening against sanctions, surveillance, and PEP lists, real-time alerting, and compliance reporting.
• Wakam Pricing API Real-time insurance pricing engine API delivering instant premium calculations based on product risk data, with customization of rates (deductibles, limits, payment options), sub-300ms response time guarantee, and 99.9% uptime SLA.
• Play&Plug Distributors Portal Partner portal providing 24/7 dashboard access to real-time metrics, KPI tracking, policy and claims management, document sharing, audit reports, and support request management with 98% availability SLA.
• UK Motorcycle Insurance Product Specialized UK motorcycle insurance product offering coverage for classic, vintage, and custom bikes as well as riders with non-standard risk profiles, launched in partnership with Principal Insurance.

Quantifiable outcome

• 90-day go-live vs industry 24 months
• +6 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability6 records

Feature5 records

Partnerships

Four partnerships are on record, tiered core, minor and supporting.

• Principal InsurancecoreChannel Partner/ Reseller/ Distributor · 10 March 2026Manchester-based broker Principal Insurance partnered with Wakam UK in March 2026 for a multi-million-pound partnership to inject competition into the UK motorcycle insurance market. The partnership addresses gaps left by industry consolidation and insurer exits, offering specialized policies for owners of classic, vintage, custom bikes, and riders with non-standard risk profiles. Principal Insurance administers approximately £30 million in policies annually and serves roughly 50,000 customers, with motorcycles representing their largest business segment.
• NIHR Mental Health Translational Research CollaborationminorStrategic or Co-development Partner · 10 March 2026The National Institute for Health and Care Research (NIHR) Mental Health Translational Research Collaboration partnered with Wakam and the FondaMental Foundation to unveil winners of the 2026 Precision Mind Prize for biomarker research in psychiatry.
• FondaMental FoundationcoreStrategic or Co-development Partner · 4 November 2025Wakam and the FondaMental Foundation created the Precision Mind Award in November 2025 to support Franco-British research on biomarkers in psychiatry. The €250,000 Precision Mind Prize was announced April 13, 2026, in London to fund research on psychiatric biomarkers aimed at improving early diagnosis, personalized treatment, and destigmatization of mental health conditions. This initiative aligns with Wakam's mission-driven approach and Wakam for Good endowment fund.
• ComplyAdvantagesupportingTechnology or IntegrationThird-party AML/CFT compliance service provider used by Wakam to automate entity screening against sanctions, surveillance, and PEP lists. Wakam's AML Compliance Solution Addon integrates ComplyAdvantage for real-time regulatory compliance automation.

Scale indicators14 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Qover: Qover is a Brussels-based embedded insurance orchestrator offering white-label insurance distribution via APIs. Despite being listed as a Wakam partner, it operates the most directly comparable B2B2C embedded insurance platform in Europe, targeting similar mobility, gig-economy, and e-commerce use cases.
• Wrisk: Wrisk is a London-based embedded insurance platform enabling insurers and brands to build white-label products. Comparable to Wakam in offering API-based infrastructure for partner-led distribution, though at smaller scale and narrower product focus.
• Cover Genius: Cover Genius is a global embedded insurance platform (XCover) that licenses its technology to merchants and platforms. Like Wakam, it sells an insurance-distribution-as-a-service model, focusing on e-commerce, travel, and digital ecosystems with proprietary pricing and claims API infrastructure.

Broad incumbents

• Beazley: Beazley is a Lloyd's specialty insurer with strong digital and European distribution. Like Wakam, it serves high-need segments with bespoke underwriting, although Beazley uses a more traditional broker-led distribution model rather than API-first B2B2C.
• Hiscox: Hiscox is a specialty insurer (Bermuda/London) with significant digital and small-commercial business, regulated by PRA/FCA. Comparable in scale, European digital posture, and appetite for non-standard risk profiles - directly relevant to Wakam's motorcycle and specialty lines.
• Munich Re: Munich Re is a global reinsurer and digital-insurance investor (e.g., via Munich Re Ventures) that both reinsures carriers like Wakam and competes for embedded insurance partnerships. Its scale and risk-modeling infrastructure shape the upper bound of Wakam's competitive landscape.
• Allianz: Allianz is a global insurance incumbent with embedded insurance partnerships and significant European operations. Relevant as a benchmark for regulated capital deployment, distribution breadth, and strategic responses to insurtech disruption.
• Lemonade: Lemonade is a New York-listed AI-native insurer with an embedded and partner-led insurance model that competes with Wakam in mobility and home verticals. While Lemonade is consumer-direct-heavy, its technology orientation and insurtech positioning make it a structural comparable.
• Aon: Aon is a global insurance broker and embedded-insurance platform player with pan-European reach. Listed as a Wakam partner, Aon also operates its own digital distribution capability, representing both a partner and competitor for white-label insurance distribution.

Emerging players

• Zego: Zego is a UK-based insurtech focused on mobility, fleet, and gig-economy insurance. Despite partnering with Wakam for some capacity, Zego operates its own technology-led insurance platform with direct partner distribution, partially overlapping with Wakam in mobility and PHV segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/hello_wakam
• Facebookfacebook.com/wearewakam
• LinkedInlinkedin.com/company/wearewakam

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wakam