Hedvig

Hedvig

Digital insurance for home, renters, students

Overview

Hedvig is a digital insurance provider focused on homeowners, renters, and students, offering policies that cover home contents, accidents, and optional extras like dental injuries and bicycle crashes through an easy-to-use app. The product works by collecting premiums and allocating 75% toward covering claims while the remaining 25% funds service improvements; any end-of-year surplus is donated to WeShelter to support homelessness initiatives in Denmark. The company earns a fixed percentage of premiums, so profits aren’t tied to denying claims, and customers can file claims, manage policies, and get instant help from a dedicated support team within the app. Compared with traditional insurers, Hedvig emphasizes transparent use of funds and direct customer support, plus a social impact component through WeShelter. Its goal is to provide simple, fair, and accessible insurance that protects customers’ belongings and lives while directing a portion of profits to social good.

About Hedvig

Simplify's Rating
Why Hedvig is rated
C+
Rated C on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Financial Services

Company Size

51-200

Company Stage

Late Stage VC

Total Funding

$75.6M

Headquarters

Stockholms kommun, Sweden

Founded

2017

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Simplify's Take

What believers are saying

  • Premium volume rose 28% to SEK 429m in FY25, beating industry growth.
  • Hedvig expanded pet and auto insurance, widening cross-sell beyond home coverage.
  • 2026 AI and claims automation should cut costs and improve member retention.

What critics are saying

  • Hedvig lost SEK 57m in FY25; profitability remains years away.
  • Capital injections continue: January 2026 owners added SEK 100m, signaling ongoing funding dependence.
  • If claims severity spikes, Hedvig faces solvency pressure and existential recapitalization risk.

What makes Hedvig unique

  • Hedvig's app-first insurance and instant claims workflow still define the brand in 2026.
  • SEB and Adelis back Hedvig, adding distribution leverage and institutional credibility since 2023.
  • Upptec integration automates property claims, freeing adjusters for complex member cases.

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Funding

Total Funding

$75.6M

Above

Industry Average

Funded Over

5 Rounds

Late VC funding comparison data is currently unavailable. We're working to provide this information soon!
Late VC Funding Comparison
Coming Soon

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

0%

2 year growth

0%
Upptec
Mar 31st, 2026
Hedvig and Upptec launch partnership to simplify claims management.

Hedvig and Upptec launch partnership to simplify claims management. a partnership focused on the automation of property claims Hedvig Insurance and Upptec are launching a partnership focused on the automation of property claims with a shared goal: to simplify claims management for Hedvig's members and make the process even more efficient, from filing the claim to payout. A smoother experience, every step of the way. Claims are never fun. But the process around them doesn't have to be complicated. Together with Upptec, Hedvig is creating a cohesive workflow where information, attachments and assessments are integrated into a single process without unnecessary steps or waiting times. Upptec specializes in managing content claims using modern technology, AI-assisted solutions and an advanced database. The collaboration between Hedvig and Upptec will ensure that all information, attachments, and assessments related to content claims are handled within the same process without unnecessary steps or waiting times. Small claims are handled directly in the app, while medium-sized claims are resolved via an AI-supported customer link that guides the member through the information-gathering process. The result is fewer steps, shorter lead times, and an experience that feels secure and personal even when the entire process takes place digitally with the insurance in your pocket. "We know that the path to customer satisfaction lies in quick responses and a claims handling process that is as seamless as possible. When it comes to quickly and easily automating property claims, Upptec is the market leader so it feels absolutely right that we are now integrating this component into our own technology platform," says Robert Collin, Chief Service & Claims Officer at Hedvig Insurance. More time for what requires human expertise. When simpler cases can largely be handled through automation, time is freed up for what is genuinely complex. This means that claims adjusters can focus where it's truly needed - on you as a member and on the cases that require careful consideration and human judgment. As a member, this means insurance that delivers when it really matters most. "The future of insurance is determined in the moments that truly matter. When something breaks or is lost and the customer needs real help. Hedvig and Upptec share the view that precisely that moment should be as painless as possible. I am incredibly excited about the future we are building together and about innovating alongside Hedvig" says Andreas Martin, Chief Executive Officer, Upptec About hedvig. Hedvig is a Swedish digital insurance company founded in 2018 that offers home, auto, pet, vacation home, and accident insurance. Hedvig's insurance policies are designed for the way people live today, with a focus on simple and fast assistance directly through the Hedvig app. For more information: hedvig.com About Upptec. Upptec is a leading insurtech company with a mission to simplify claims management for policyholders, insurance companies, and their employees. By constantly pushing the boundaries of what's possible and leveraging the latest technology, Upptec is transforming old ways of working and solving the challenges of the future. With deep expertise and a genuine commitment, Upptec creates solutions that make a real difference for people when they need it most. Pictured in page hero: Alice Olson, Upptec, and Per Niblaeus, Hedvig Försäkring First published: 2026-03-31

N2F
Dec 11th, 2023
n2f - Nordic Secondary Fund II invests in Hedvig

Nordic Secondary Fund is pleased to announce that we have acquired a stake in Hedvig.

Coverager
May 25th, 2023
Manypets Exits Swedish Market

Following our report, . ManyPets <i class="fa fa-info-circle company-popover" data-content="h3ManyPets/h3. div

Coverager
May 12th, 2023
Hedvig Enters Pet Insurance Market

Swedish full stack insurer . Hedvig <i class="fa fa-info-circle company-popover" data-content="h3Hedvig/h3. div

Finextra
Mar 13th, 2023
SEB buys stake in Nordic InsurTech Hedvig

As part of this, SEB Venture Capital is making a strategic investment in Hedvig in conjunction with a financing round led by Adelis Equity.

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