NotSure
This week, WeSure announced the acquisition of Utah Business Insurance Company (UBIC), stating that the group writes approximately $1.6 billion in premiums and manages more than $8 billion in assets. It is likely that the premium is neither homegrown nor organic.
WeSure is a young company built around an old insurer. WeSure Insurance was founded in Israel in 2018, while its publicly-traded parent, WeSure Global Tech, now controls approximately 67% of Ayalon Insurance, a traditional Israeli insurer established in 1976. WeSure Global Tech trades on the Tel Aviv Stock Exchange.
The Ayalon acquisition explains most of WeSure’s headline scale. WeSure did not organically grow into a billion-dollar insurance group. It purchased control of Ayalon using a combination of capital from strategic investors, bank debt, seller financing and existing funds.
The group also operates an offshore technology center in Bangalore, India, that provides IT maintenance and supports product development and international expansion.
WeSure first came onto our US radar through its relationship with AmTrust.
In 2024, AmTrust subsidiary Technology Insurance Company (TIC) held a 30% non-controlling interest in WeSure Digital Insurance Services, while WeSure USA Holdings, described as a third party, owned the remaining 70%. TIC also invested $10.3 million in WeSure Global Tech—the Israeli public company and ultimate owner of WeSure Digital Insurance Services—through a convertible note. The disclosed structure therefore involved three WeSure entities: WeSure Global Tech, WeSure USA Holdings and WeSure Digital Insurance Services.
By 2025, TIC’s interest had declined to 22.5%, while “other third parties” held the remaining 77.5%. However, the 2025 filing identifies the entity as WeSure Technologies USA rather than WeSure Digital Insurance Services.
WeSure Digital Insurance Services is an insurance agency based in Hoboken, New Jersey. Records show its first filing in 2021 and appointments with three AmTrust entities: CorePointe Insurance Company, Milford Casualty Insurance Company and Southern Insurance Company.
In 2023, Milford filed its WeSure BOP product in Virginia, Tennessee, Ohio and Pennsylvania. The filings included updated coverage packages for restaurants, retailers, offices, service providers, and medical and dental practices. They also included professional liability coverage for pet-service businesses, barbershops, hair salons and nail salons, along with bailee coverage for laundries and dry cleaners. Milford reported no policyholders at the time. As a side note, WeSure’s current appetite is available here.
A later New Jersey filing stated that, as of September 2024, Milford had eight active commercial property policies generating $129,739 in written premium through the WeSure Digital program.
Neither Southern nor CorePointe disclosed MGA premium attributable to WeSure for 2025. Milford, meanwhile, reported $2.66 million in premium through WeSure in 2024 and $4.58 million in 2025—an increase of approximately 72%. The growth is noteworthy, although less so given the small underlying figures. See page 21 of Coverager’s MGA report.
Another filing suggested that WeSure was involved—or expected to be involved—in distributing workers’ compensation coverage from Synergy Comp, which is not an AmTrust entity. However, the filing does not establish that any policies were ultimately written through the relationship.
As of January 11, 2026, WeSure offered BOP and workers’ compensation insurance in eight states and cyber insurance in 10. Across its products, it was active in California, Georgia, Indiana, Michigan, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee and Virginia.
WeSure’s US website averaged approximately 5,400 monthly visits between June and August 2026, according to Similarweb, compared with 148,000 for Thimble—more than 27 times as much traffic. Yet the companies have similarly sized teams: WeSure had 63 employees, up 53% year over year, while Thimble had 57, down 5%, according to LinkedIn data.
Website traffic is not a perfect measure of WeSure’s reach, however, because the company also distributes through independent agents. Co-founder Emil Vainshel previously described this as a deliberate point of differentiation:
“We are going in the opposite direction to Hippo and Lemonade. Most of the players in the insurance field went with the direct route and for individual products. We will market digital policies to businesses that will combine multiple branches such as liability, third party and professional liability. Among other things, we will also rely on local agents.”
He also described agent recruitment as a central part of his role in the US:
“In the US, I mainly meet with insurance agents to convince them to market the policies of WeSure with businesses, and I couldn’t do that via Zoom as efficiently.”
Still, in the US, WeSure remains a tiny insurance operation. There is no clear evidence that its organic insurance business has progressed in line with the scale suggested by the group’s headline figures. What is clear is that WeSure has turned to acquisitions.
In 2025, it agreed to acquire Hourly, a provider of payroll services and pay-as-you-go workers’ compensation coverage for US small and midsize businesses that primarily employ hourly workers, in an all-stock transaction valuing Hourly at $53 million. Hourly had raised approximately $39.2 million across four funding rounds. WeSure later announced a memorandum of understanding for another, smaller US acquisition, and it has now announced the purchase of UBIC.
UBIC was launched in 2006 by Ron Nielsen, a masonry business owner who struggled to find a workers’ compensation carrier that understood contractors. Originally called Utah Builders Insurance Company, it began as a contractor-focused insurer but has since expanded its appetite to restaurants, hospitality, agriculture, healthcare, retail and other industries. Its geographic reach remains limited: UBIC is licensed to write business in Utah, Nevada and Missouri.
Early filings show that UBIC’s distribution strategy relied on partnerships with Utah trade associations and payroll provider BBSI. In 2010, the insurer introduced a 5% workers’ compensation credit for members of organizations including Associated Builders and Contractors of Utah, the Utah Masonry Council and the Utah Valley Homebuilders Association. A year later, it extended the same credit to BBSI’s payroll and PEO clients.
What WeSure is buying is a small, three-state workers’ compensation carrier that reported a $6.5 million underwriting loss in 2025, up from a $2.2 million loss in 2024. UBIC directly wrote $8.9 million in premium in 2025: $3.46 million in Utah, $2.74 million in Missouri and $2.72 million in Nevada and it reached approximately $22 million in net written premium by assuming $14.1 million of workers’ compensation premium from unaffiliated insurers.
The UBIC acquisition takes on a different meaning when considered alongside Hourly, the payroll provider WeSure agreed to acquire in 2025. WeSure is attempting to sit on both sides of the model. Through Hourly, it would control a payroll platform and multi-carrier agency with appointments across Berkley, AmTrust, Nationwide and Great American. Through UBIC, it would also own carrier capacity. For now, however, UBIC remains a small, three-state insurer—and Hourly is still looking for hunters.
All told, WeSure has assembled the infrastructure for a payroll-linked workers’ compensation business. Recruiting “hunters” is not fundamentally different from hiring “Corgi girls” if the objective is to sell. The more important distinction is strategic: insurance may ultimately prove to be the thing Corgi does least well, while WeSure is placing insurance at the center of its US expansion rather than treating it merely as an extension of payroll management and employee benefits. That may be the difference between building with insurance investors and building without them.