Definition:Baobab Insurance
🌳 Baobab Insurance is a Berlin-domiciled insurtech managing general agent registered under German law as an insurance agent (§ 34d GewO) and appointed as a Lloyd's coverholder, specializing in cyber insurance, e-crime, and IT liability products. The company distributes through brokers across Germany, Austria, and the Benelux, targeting customer segments from SMEs (up to €200M revenue) through mid-market and upper industrial clients (up to €1B revenue via the SCOR Syndicate at Lloyd's). Baobab has raised €20.1M in total venture funding through a June 2025 Series A and employs approximately 30 people.
🤖 Underwriting and technology. Baobab positions its underwriting as AI-native and data-first, combining automated underwriting and dynamic pricing with continuous monitoring and a machine-learning risk model co-financed by Investitionsbank Berlin and the European Regional Development Fund. The flagship CyberSafe product covers first-party exposures including business interruption, data recovery, hardware damage, and cyber fraud, alongside third-party network security, privacy, and media liability. Bundled prevention services — weekly scanning, phishing simulation training, awareness programs, and a DIN SPEC 27076 cyber risk check — differentiate the offering from conventional cyber policies.
💼 Capacity and competitive positioning. Baobab places risk across multiple carriers and Lloyd's syndicates, including Zurich Insurance Europe AG, ERGO, Liberty Specialty Markets, Tokio Marine Kiln, Talbot Underwriting, Argenta Syndicate Management, and the SCOR Syndicate at Lloyd's. The January 2026 SCOR partnership extends CyberSafe underwriting capacity to companies with annual revenue up to €1B, signaling a deliberate upmarket trajectory from the company's SME origins. Within the European cyber MGA ecosystem, Baobab most closely compares to integrated models such as Coalition and At-Bay in the US and Stoïk and Eye Security in Europe.
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