On July 16, 2025, CNBC named Veracity Insurance Solutions — Food Liability Insurance Program’s (FLIP’s) parent company — one of the World’s Top Fintech Companies for 2025.
Veracity is the reason food and beverage entrepreneurs can quote, purchase, and manage their liability insurance entirely online. This award speaks volumes about the level of excellence FLIP customers can expect from their insurance provider.
Veracity Insurance Solutions: The Innovator Behind FLIP
Founded in 2012 by CEO Daryle Stafford, Veracity Insurance specializes in providing custom liability policies for underserved businesses across the country.
These businesses, ranging from cosmetics manufacturers to outdoor recreation tour guides, often struggle to find insurance providers willing to cover them because of their risk factors. But where other insurance brokerages avoid these niche industries, Veracity embraces them.
As a managing general agency (MGA), Veracity works as the middleman between insurance carriers and agents. With an in-house team of underwriters, Veracity creates tailor-made policies and online programs that agents use to cover their high-risk clients.
This focus on tech and customized policies eventually led Veracity to launch its 100% online small business insurance programs, including FLIP and Insurance Canopy.
The Methodology Behind the Award
Each year, CNBC partners with Statista to analyze data on companies around the world in the fintech (financial technology) space.
Companies are evaluated based on both overarching key performance indicators (KPIs) as well as data that is specific to their category. While all companies on the list are considered fintech businesses, they are broken down further into segments like insurtech (insurance technology), which is Veracity’s category.
Some of the KPIs used to determine the top companies in 2025 were:
- Innovative practices
- Market share
- Customer satisfaction
- Revenue growth
To narrow down the list even more, both types of KPIs are weighted. Overarching KPIs are worth 40% of the company’s final score, whereas segment-specific KPIs are worth 60%.
This data-driven approach allows Statista to accurately determine the top 300 fintech companies across the globe, of which Veracity emerged as one of the leaders in the insurtech space.
Why Veracity’s Win Is a Win for FLIP
Veracity’s commitment to offering tech-focused insurance solutions is the powerhouse behind FLIP’s quick and easy application process. Veracity helped pave the way for an online insurance marketplace, allowing FLIP to make getting coverage as painless as possible for food and beverage business owners.
FLIP and the other online programs help support Veracity’s vision to offer flexible, affordable coverage to American business owners so they can achieve their entrepreneurial goals without sacrificing their security.
With Veracity’s win, FLIP policyholders can feel confident knowing their coverage is backed by a company recognized as a global leader in the insurtech industry.
Learn more about FLIP and how food and beverage business owners protect their dreams with help from our highly rated, affordable liability policies.
Alex Hastings
Seattle-based copywriter and (WA) licensed insurance agent Alex Hastings leverages her experience as a lover of fast-casual food, baked goods, and iced oat milk lattes. She holds a B.A. in Creative Writing from Western Washington University. Before working at Veracity, she was a retail copywriter at Zulily and an English language teacher in South Korea. Alex is fully trained on FLIP insurance coverages and writes content that connects food and beverage business owners with the policies they need.
Seattle-based copywriter and (WA) licensed insurance agent Alex Hastings leverages her experience as a lover of fast-casual food, baked goods, and iced oat milk lattes. She holds a B.A. in Creative Writing from Western Washington University. Before working at Veracity, she was a retail copywriter at Zulily and an English language teacher in South Korea. Alex is fully trained on FLIP insurance coverages and writes content that connects food and beverage business owners with the policies they need.
Kyle Jude
Kyle Jude is the Program Manager for Food Liability Insurance Program (FLIP). As a dedicated program manager with 10+ years of experience in the insurance industry, Kyle offers insight into different coverages for food and beverage business professionals who are looking to navigate business liability insurance.
Kyle Jude is the Program Manager for Food Liability Insurance Program (FLIP). As a dedicated program manager with 10+ years of experience in the insurance industry, Kyle offers insight into different coverages for food and beverage business professionals who are looking to navigate business liability insurance.
