PSP Insurance

What PSP Insurance does

PSP Insurance operates as Wizer, a privately-held insurance company headquartered at A. Tsereteli St. №138 in Tbilisi, Georgia, founded in 2011 and employing 501-1,000 people. The company offers a multi-line insurance portfolio spanning health, auto, travel, and property coverage to individual consumers, SMEs with 5-10 employees, and business organizations in the Georgian domestic market. Its product architecture includes branded health products (Ritm for individuals, SME CARE for SMEs, and a specialized 5-10-person company health package), standard and simplified auto products (including Easy Auto with streamlined enrollment), travel insurance, and commercial property insurance covering buildings, inventory, machinery, and fixtures.

Wizer's technology layer centers on the online insured portal at online.wizer.ge, which enables digital policy management and claims submission for policyholders, complemented by phone-based service (*0055, +995 32 218 55 55) and a physical sales office in Tbilisi. The company maintains healthcare ecosystem partnerships with New Hospitals (a healthcare provider network), PSP (pharmaceutical distribution), and GMP (a medical provider), supporting cashless claims and provider-direct access for health insurance customers. Pricing is quote-based and not publicly disclosed, with premiums varying by individual risk profiles, coverage limits, and policy terms on an annual billing cadence.

The business model is built on subscription-based insurance premiums collected across health, auto, travel, and property lines. Revenue mechanics depend on policy renewal cycles and bundled product strategies, such as Ritm (health plus complimentary travel) and auto promotions offering one month free coverage. Distribution combines direct-to-consumer digital self-service, inside sales via phone, and direct sales through the Tbilisi office. Ownership is not publicly detailed, though the PSP Group brand affiliation and a shareholder information document linked from the company's site indicate a parent-group relationship. The company operates exclusively in Georgia (Caucasus region), with no disclosed geographic expansion plans.

Name

PSP Insurance

Legal name

სადაზღვევო კომპანია ვაიზერი (Wizer Insurance Company)

Website

https://ipsp.ge

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

501–1,000 employees

Short description

PSP Insurance, operating as Wizer, is a privately-held Georgian insurer offering health, auto, travel, and property coverage to individuals, SMEs, and businesses in Georgia through digital and direct-sales channels.

Ownership category

akta.pro rank

Headquarters

HQ city

Tbilisi

HQ country

Georgia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premiums: Wizer generates revenue through collecting insurance premiums from policyholders across multiple product lines including health, auto, travel, and property insurance. Premiums are collected on subscription/recurring basis with coverage periods and renewal cycles.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels2 records

Core offering

PSP Insurance (Wizer) is a Georgian insurance company that underwrites and distributes a multi-line insurance portfolio to individual consumers and small/medium businesses. Core offerings include individual health insurance (Rythm product bundling health plus complimentary travel insurance), organizational/group health insurance including SME CARE and a 5-10 employee plan, auto insurance (standard and Easy Auto), travel insurance, and property insurance covering buildings, warehouses, stored goods, machinery, furniture, and fixtures.

Product overview

PSP Insurance (Wizer) operates as a multi-product insurance company offering a portfolio of insurance solutions. The core offerings include health insurance (individual Rithm product, organizational plans, SME-specific SME CARE, and plans for companies with 5-10 employees), auto insurance (standard and simplified Easy Auto options), travel insurance, and property insurance. The company also provides an online insured portal for accessing services digitally. The product architecture consists of standalone core insurance products supplemented by specialized sub-products targeting specific customer segments.

Differentiator

Problem solved

Functional benefit

Brands

• Rhythm (რიტმი): Individual health insurance product offering health coverage plus travel insurance as a gift.
• SME CARE

Products and services

• Rythm Individual Health Insurance Individual health insurance product for personal and family coverage, combining health insurance with complimentary travel insurance as a gift. Targeted at individual Georgian consumers and families.
• Auto Insurance Vehicle insurance for personal and company automobiles with individually customized terms, including a 1 month free coverage promotional offer and additional gifts.
• Easy Auto Insurance Simplified auto insurance product with a streamlined enrollment process, offered as an accessible alternative to the standard auto insurance.
• Health Insurance (Organizational) Comprehensive health insurance for organizations' employees and their family members, covering medical expenses and healthcare services.
• Health Insurance for 5-10 Person Companies Specialized health insurance package designed for small businesses with 5-10 employees, positioned as a profitable and practical offer for small businesses.
• SME CARE Health insurance tailored for small and medium enterprises, providing coverage for employees and their families.
• Travel Insurance Travel insurance covering unexpected health deterioration expenses during international travel, offered at competitive rates and terms.
• Property Insurance Property insurance covering buildings and structures, warehouses and storage facilities, stored goods and inventory, machinery and equipment, furniture and fixtures, and other business assets.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered minor and core.

• PSP (Logo Partner)minorOthersPSP logo appears on the Wizer website as a partner. PSP is a Georgian pharmaceutical distribution company. The partnership may relate to pharmacy network access for insured customers.
• New Hospitals (Logo Partner)coreOthersNew Hospitals is a Georgian healthcare provider network. This appears to be a core healthcare provider partnership enabling Wizer to offer cashless health insurance claims and access to hospital services for insured customers.
• GMP (Logo Partner)minorOthersGMP logo appears on the Wizer website as a partner. GMP may refer to a healthcare or pharmaceutical company in Georgia. The partnership likely relates to medical provider network access for health insurance policyholders.

Scale indicators1 record

Recent moves6 records

Expansion highlights2 records

Emerging players

• Oscar Health: Oscar Health is a technology-focused health insurance carrier in the US using a digital-first member experience and provider network partnerships. It is comparable to Wizer's individual and SME health insurance products (Rithm, SME CARE) and its healthcare provider partnerships (New Hospitals).
• Lemonade: Lemonade is a digitally-native, direct-to-consumer insurance carrier that pioneered the mobile-first insurance experience and AI-driven claims. It is comparable to Wizer as a reference point for Wizer's online.wizer.ge portal strategy and DTC distribution model, though Lemonade operates at a much larger scale.

Direct peers

• TBC Insurance (TBC Group): TBC Insurance is the insurance arm of Georgia's largest banking group, offering multi-line insurance products with a strong digital distribution channel. It is a direct competitor to Wizer, particularly for SME and bank-affiliated customer segments.
• Aldagi: Aldagi is one of the largest multi-line insurance companies in Georgia, offering health, auto, property, and travel products to individuals and corporates. It is the most direct local competitor to Wizer, operating in the same Georgian market with a comparable multi-line, multi-segment proposition.
• GPI Holding: GPI Holding is a major Georgian insurance group offering a broad portfolio of P&C and life products through multiple subsidiaries. It competes head-to-head with Wizer for individual, SME, and corporate insurance customers in the Georgian market.
• IC Group (Insurance Company Georgia): IC Group is a Georgian insurer providing health, auto, and property insurance to individuals and businesses. It is a direct peer competing for the same customer segments within the same regulatory and economic environment as Wizer.

Regional players

• Euroins Insurance Group: Euroins is a multi-line insurance carrier operating across Central and Eastern Europe, offering motor, property, and health products. It is a relevant regional peer for understanding competitive dynamics and product structures in CEE/CIS insurance markets similar to Georgia.
• Armeestate (Armenia): Armeestate is one of the leading insurance companies in Armenia, the neighboring Caucasus market, offering similar multi-line insurance products. It is a regional peer for understanding cross-Caucasus insurance demand patterns and competitive intensity.

Market position

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/ipsp.ge

Revenue estimate

Valuation estimate

Number of profiles

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 PSP Insurance