Upptec

Name

Upptec

Legal name

Upptec AB

Website

https://upptec.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Insurance Claims Automation Software

NAICS

Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292), Claims Adjusting (524291)

SIC

Services-Prepackaged Software (7372), Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Claims Management & Digital FNOL Platforms (FSAGAGAC)

akta.pro secondary industry

Policy Administration, Underwriting & Rating Platforms (Core Insurance SaaS) (FSAGAGAB)

Keywords

• Claims automation software
• Insurtech platform
• Content claims processing
• Insurance claims AI
• Property claims automation

Headquarters

HQ city

Malmö

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Platform SaaS / Per-Claim Automation Licensing: Upptec operates as a B2B SaaS platform for insurance companies, charging for platform access and per-claim automation processed through the system. Implementation fees apply for initial integration (3-week onboarding to production cited). The platform's value is tied to measurable cost savings (e.g., 20%+ reduction in discarded item payouts, 70% overvaluation correction on restored goods), positioning the pricing model to align with outcomes and efficiency gains for insurers.
2. API Integration & Professional Services: Revenue derived from API integration projects with insurance carriers' core systems (Guidewire/ClaimCenter, internal platforms). Includes implementation, configuration of Policy Central rules, data migration, and Customer Success Manager-led training and certification programs. Integration complexity and scope influence project-based revenue.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

Upptec provides a B2B SaaS platform that automates content (home and personal property) insurance claims from first notice of loss to settlement, built on more than one billion data points from real claims and 20+ years of insurance expertise. The platform comprises Connect for full straight-through processing of small, high-volume claims; Open-Link for guided self-service intake of medium-sized claims with 10+ items; and Inspect for collaborative large loss claim handling. A RESTful JSON API and Policy Central policy engine enable integration into insurer core systems (Guidewire/ClaimCenter, chatbots, mobile apps) with calculated payouts aligned to each insurer's specific terms and depreciation rules.

Product overview

Upptec is a content claims automation platform offering a unified portfolio of modules designed to handle the full spectrum of content claims sizes. The core Upptec platform provides end-to-end automation from FNOL to settlement, built on over 1 billion data points from real claims and 20+ years of experience. The product suite includes: Connect for small, high-frequency claims with full STP automation; Open-Link for medium-sized claims (10+ items) with guided customer flows; Inspect for large loss claims with real-time collaboration between insurers, restoration companies, and policyholders; Collect for rule-based attachment collection; and Policy Central for compliant calculation logic. The platform shifted to a process-led architecture in 2026, optimizing outcomes rather than just individual tasks. Key capabilities include AI-assisted item identification, automated valuation against current market prices, and straight-through processing achieving 98% automation rates.

Differentiator

Problem solved

Functional benefit

Brands

• Connect: Product for small frequent content claims with full automation and STP (straight-through processing).
• Open-Link
• Inspect
• Upptec Direct
• Collect
• Policy Central

Products and services

• Upptec Platform Unified content claims automation platform that handles insurance claims from first notice of loss to settlement, built on more than one billion data points from real content claims and 20+ years of claims handling experience. The process-led architecture supports small, medium, and large claims end-to-end with AI-assisted item identification, Policy Central-compliant calculations, and integration into insurer core systems via RESTful JSON API.
• Connect (Small Frequent Claims) Full automation solution for small, high-volume, low-complexity content claims such as electronics, appliances, theft claims, mobile phones, and accessories. Handles claims with straight-through processing (STP) including item identification, valuation, and payout-ready calculations. Policyholders submit details via a guided digital flow; the system automatically identifies, values, and calculates payouts based on insurer policy rules with no handler intervention.
• Open-Link (Medium Claims) Digital service for medium-sized claims involving 10+ items. Provides frictionless claims intake via a unique guided link sent to the policyholder. AI identifies and values each object instantly; the handler receives a clean, complete case to approve. Delivers up to 76% reduction in handling time per claim and 98% automatic object valuation.
• Inspect (Large Loss Claims) Collaborative platform for large loss claims involving fire, flood, or catastrophe. Creates a digital workspace for real-time collaboration between insurers, restoration companies, and policyholders. AI-assisted bulk item import via image, video, or voice. Automatic application of depreciation rules, full audit trail with timestamps, and cost analysis for restoration vs. replacement decisions. Documented to deliver 20%+ reduction in payouts for discarded items and 70% overvaluation correction on restored goods.
• Collect (Rule-Based Attachment Collection) Rule-based attachment collection solution for smart claims. Dynamic rule engine ensures policyholders provide exactly the right documentation based on item type and value. Flags items exceeding defined thresholds (purchase price or compensation after depreciation) and automatically requests attachments for those specific items. Locked item list prevents post-submission changes; handlers retain granular control to manually unlock individual items.
• Policy Central (Policy Engine) Advanced policy engine that ensures every valuation and payout calculation is accurate and compliant, fully aligned with each insurer's specific conditions and depreciation rules. Enables trigger-based automation and real-time customer updates across the claims journey, and powers the straight-through processing capability across Connect, Open-Link, and Inspect.
• Upptec Certification Program Hands-on training program delivered by Upptec Customer Success Managers, covering platform navigation, item valuation across product categories, claim handling workflows, and best practices. Consists of 1-2 hour 1:1 sessions and results in a recognized certification with a digital badge for LinkedIn. Designed to generate internal advocacy and deepen product adoption among claims handlers at insurer customer organizations.

Quantifiable outcome

• 98% of content claims handled automatically
• +8 more outcomes

Named customers13 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability7 records

Feature8 records

Partnerships

Seven partnerships are on record, tiered flagship, core and major.

• Hedvig InsuranceflagshipStrategic or Co-development Partner · 1 March 2026Hedvig is a Swedish digital insurance company (founded 2018) offering home, auto, pet, vacation home, and accident insurance through a mobile-first app. Partnership focuses on automating property and content claims. Small claims handled directly in the Hedvig app; medium claims via AI-supported customer link. Goal: streamline claims from filing to payout within a cohesive, app-native workflow. Robert Collin, Chief Service & Claims Officer at Hedvig, cited Upptec as the market leader in property claims automation.
• CAB (Centri Berg AB)coreTechnology or Integration · 1 February 2026CAB is a Swedish insurance software provider. Since February 2026, Upptec's content registration has been available through a dedicated access point within CAB's MEPS platform. This integration unifies building damage (MEPS) and content claims (Upptec) within the same claim and overall process, enabling insurers like Folksam to manage large claims involving both categories in a single digital workflow with real-time collaboration and AI-assisted item identification.
• FRIDAY (Germany)flagshipStrategic or Co-development Partner · 1 December 2024FRIDAY is a Berlin-based digital insurer with a European insurance license, known for mileage-based billing, paperless administration, and daily cancelability. The partnership is Upptec's first outside the Nordics. Following a successful pilot, FRIDAY deployed Open-Link for self-service content claims automation across its German book of business. Andreas Strick (Director Operations Germany) cited STP improvement, reduced manual work, and cost savings as outcomes. FRIDAY sees this as foundational for scaling across European markets.
• Undo ForsikringmajorStrategic or Co-development Partner · 1 November 2023Undo is a mobile-only Danish insurer (founded 2018), backed by Tryg, targeting 21–35-year-olds with a tech-company approach. Upptec implemented Open-Link and Connect for self-service claims, fully integrated within the Undo app. Camilla Morell (Head of Claims at Undo) cited increased efficiency and customer experience improvements. Undo is the first insurance provider in Denmark using Upptec solutions. Undo won the Nordic Fintech Design Award in 2019 for its app.
• ICA FörsäkringmajorStrategic or Co-development PartnerICA Försäkring is the insurance arm of ICA Group, a major Swedish retail and food company. CIO Mattias Trostek has spoken publicly at the Nordic Claims Event about building faster, smarter claims operations with Upptec. Ann-Charlotte Jenmert (Head of Claims, ICA Försäkring) is quoted: 'With Upptec, we can customize our solutions to best meet the expectations of our clients and our own operational goals.'
• GjensidigeflagshipStrategic or Co-development PartnerGjensidige is one of the largest P&C insurers in the Nordics. The partnership uses Upptec's API for full automation from first notice of loss to compensation payout. Policyholders report claims, track status, and receive bank transfers within seconds in many cases. More than 20% of claims are fully automated from FNOL to payout. Markus Ljungblad (Head of Claims, Gjensidige) cited: 'With Upptec, we could automate more, handle claims faster, and deliver a better customer experience.'
• FolksamflagshipStrategic or Co-development PartnerFolksam is one of Sweden's largest insurance companies with ~4 million customers. Partnership since 2013. Folksam was the first insurer in Sweden to integrate Upptec for automated claims submission. In 2024, Folksam implemented the full Upptec platform. Results: +153% more automated items, 42.77% total automation rate, 98% automation for mobile phones. Now expanding into jewelry claims automation — one of the most manually handled categories in content insurance.

Scale indicators11 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Tractable: AI-powered visual damage assessment for property and auto insurance claims, including item identification and repair estimation. Directly comparable to Upptec's AI-driven image, video, and audio item identification and valuation in content claims workflows.
• Snapsheet: Cloud-based claims management and estimation platform serving property and casualty insurers, with a focus on digital intake and workflow automation. Comparable to Upptec's claims automation and digital workflow capabilities for P&C content claims.
• Shift Technology: AI-native platform for insurance fraud detection, claims automation, and underwriting. Shares Upptec's AI-driven approach to automating insurance operations, though Shift's primary historical focus has been fraud rather than content item valuation.

Emerging players

• Yembo: AI-powered virtual inspection and itemization platform for insurance claims. Overlaps with Upptec's Inspect module for large loss claims, particularly the AI-assisted bulk import of items via photo, video, and voice.
• Flyreel: AI-guided property inspection for insurance underwriting and claims using computer vision. Comparable to Upptec in its use of AI for property and content assessment within insurance workflows.

Broad incumbents

• CCC Intelligent Solutions: Large SaaS platform for property and casualty claims management, primarily in auto but expanding into property. Provides a comparable claims workflow and valuation capability at much greater scale than Upptec, representing both a partner and potential competitor.
• Mitchell International: Established provider of claims management software and services for P&C insurers, particularly in auto and casualty. Overlaps with Upptec's claims automation workflow focus, though Mitchell is a much larger, suite-oriented player.
• Solera Holdings: Global provider of data, software, and workflow solutions for automotive and property claims, and notably featured on Upptec's homepage as an ecosystem partner. Comparable to Upptec's claims workflow and valuation capabilities but operating at significantly larger scale.
• Guidewire Software: Dominant core insurance platform provider with PolicyCenter, ClaimCenter, and BillingCenter. Upptec integrates directly with Guidewire's ClaimCenter, making Guidewire both a critical distribution channel and a potential competitor if it builds native content claims automation.

Regional players

• Frends Technology: Nordic-headquartered integration platform provider serving insurance and financial services. Comparable as a regional technology enabler for insurers in the Nordics, though Frends focuses on broader enterprise integration rather than content claims specifically.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks1 record

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/17891302
• Xx.com/upptec

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

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 Upptec