Startup insurance providers compared

Corgi, Vouch, Embroker and Founder Shield all sell insurance to startups, and all now offer some form of AI cover. They are built very differently: one writes its own policies, two are brokers, and one does both. Here are the facts that tell them apart.

From each company’s own pages, checked 22 October 2026. No rankings, no star ratings and no commissions.

Side by side

Corgi, Vouch, Embroker and Founder Shield compared
	Corgi	Vouch	Embroker	Founder Shield
What it is	Program administrator with its own insurers	Broker	Digital broker with its own programs	Broker, part of The Baldwin Group
Who underwrites	Policies are written by Corgi’s own insurers, Corgi Insurance Company (an admitted carrier, NAIC 17989) and Technology Risk Retention Group, which Corgi calls its primary underwriting entity, or by partner carriers Corgi says are rated A- or better by AM Best but does not name.	Places cover with carriers it describes as AM Best-rated but does not name. Hiscox agreed in August 2025 to buy Vouch’s underwriting agency (Corix) and its insurer (Vouch Insurance Company), and Vouch has a multi-year distribution agreement with Hiscox.	Some of its own programs are underwritten by Everspan, a partnership Embroker announced in October 2024. Its FAQ says policies are issued by their respective carriers without naming them all.	Places cover with carriers it does not generally name. Its Gen AI Liability policy is underwritten by Testudo with Lloyd’s capacity.
AI cover	A modular AI liability add-on to its tech E&O policy, reported to cover biased or inaccurate outputs, harmful generated content, misuse of training data and adversarial attacks. Limits are not published.	“AI Insurance”, launched in January 2024, which Vouch describes as a specialized tech E&O policy covering AI errors, bias and discrimination, IP claims and defense costs for regulatory investigations. Vouch says it typically does not cover intentional misconduct, physical harm from AI hardware or cyber incidents. Limits are not published.	An Artificial Intelligence Coverage Endorsement, added automatically to eligible tech E&O and cyber quotes. It confirms AI-delivered services count as tech services and covers AI discrimination claims, defense costs for regulatory investigations and algorithm removal expenses up to $150,000. The page shows an effective date of 5 August 2025; Embroker’s announcement is dated 26 May 2026.	Gen AI Liability: a standalone, claims-made policy for US companies with up to $10B in revenue that use, rather than sell, generative AI. It covers third-party claims arising from AI outputs: errors including hallucinations, IP infringement or defamation, data disclosure, bodily injury and property damage. Limits are not published.
Who it is for	Startups and tech companies from pre-seed to growth stage, including SaaS, AI, fintech, crypto, marketplaces, health tech and data centers.	Growing companies in technology (including AI, crypto, fintech and SaaS), healthcare and life sciences, professional services and financial services.	Funded startups and tech companies, plus law firms, VC and PE firms, financial services, real estate agents and consultants.	High-growth, venture-backed companies from pre-seed to IPO, in fintech, Web3, tech and media, life sciences, and services and retail.
How you buy	Online application, quote and same-day binding, or a call with a specialist first.	Online application with licensed advisers. Vouch says over 80% of companies get a quote and buy within one business day.	Online quote and purchase, with licensed brokers for some cover. Other brokers can sell its products through Embroker Access.	Online quote request and an assigned adviser.
Published prices	Publishes planning estimates: $2,000 to $4,000 a year for eligible early-stage startups at $1M limits for general liability, tech E&O and cyber, and $10,000 to $25,000 or more at Series A. A Corgi blog post gives different ranges.	No price list, but its guides publish median premiums paid by its own clients: about $2,000 a year for tech E&O at a $1M limit, $2,755 for cyber and $6,000 for D&O.	Not published	Not published
Licenses	Corgi Insurance Services publishes producer license numbers for 49 states and DC; New Mexico is not on its list.	Vouch Specialty Insurance Services publishes property-casualty license numbers for all 50 states and DC, and surplus lines numbers for all but Georgia (NPN 19926463).	Lists license numbers by state without naming the licensed company. It says it is licensed in all 50 states and DC, but Rhode Island is not on its list.	Its terms say products are offered by The Baldwin Group LLC, a licensed broker. No license numbers are shown on the site.
Ownership and funding	Venture-backed and independent. Announced $108M across its seed and Series A rounds in January 2026, a $160M Series B at a $1.3B valuation on 7 May 2026 and a $106M Series B1 at $2.6B on 28 May 2026, both led by TCV; Corgi puts its total raised at $378M. A further extension was reported from July 2026 at a valuation of $4B to about $5.2B; we found no confirmation from Corgi.	Venture-backed. Raised $90M in September 2021 at a reported $550M valuation, taking the total to $160M, and $25M in March 2024, taking it to more than $185M.	Venture-backed. Its last announced round was a $100M Series C led by FTV Capital in June 2021, taking the total raised to more than $140M.	Acquired in 2021 by Baldwin Risk Partners, now The Baldwin Group (Nasdaq: BWIN).
Founded	2024 (Insurance Business; not stated on Corgi’s site), San Francisco	2018, San Francisco	2015, San Francisco	2012 (CB Insights), New York
Online reviews	Trustpilot: No reviews	Trustpilot: 3.5 from 5 reviews; G2: 4.7 from 3 reviews	Trustpilot: 2.9 from 2 reviews; G2: 5.0 from 1 review	Trustpilot: 3.7 from 1 review
Regulatory actions found	None found	None found	Texas Department of Insurance consent order, 2 December 2025: Embroker Insurance Services filed 2024 surplus lines policies late and paid the assessed fees late. Penalty $1,225. Order	None found

Corgi: Corgi discloses that state guaranty funds, which pay claims if an insurer fails, do not cover policies issued by a risk retention group, and that its risk retention group has no AM Best rating.

Founder Shield: A different business, Founder Shield LLC of Dallas, uses the hyphenated address founder-shield.com and does not sell insurance. The broker is at foundershield.com.

Head to head

Also on the register: Coalition and Newfront. Coalition sells cyber and tech E&O with affirmative AI wording through brokers; Newfront is a broker now owned by WTW. For what to buy at each funding stage, see insurance for AI startups.

Questions

What are the best alternatives to Vouch?

For startups buying online, the closest alternatives are Embroker and Corgi, which both sell tech E&O with AI wording, and Founder Shield (now The Baldwin Group's Innovation Practice), a broker with a standalone Gen AI Liability policy. They differ in structure: Vouch and Founder Shield are brokers, Embroker is a broker that also sells its own programs, and Corgi writes cover through its own insurers.

Which startup insurers publish prices?

Corgi publishes planning estimates for a package at each funding stage. Vouch publishes the median premiums its own clients pay, such as about $2,000 a year for tech E&O at a $1M limit. Embroker and Founder Shield quote after an application. See what AI startup insurance costs for all the published figures.

Why don't you rank or rate them?

Because we have no fair way to measure claims handling or value across companies, and the online review samples are tiny, from zero to five reviews each. We publish the facts that can be checked and say where each comes from.