The second annual list of the world’s most innovative technology solution providers for the global insurance industry was announced today by FinTech Global, a specialist research firm.
The InsurTech (insurance technology) industry has seen huge growth in the last two years as insurance companies grapple with the challenges of digital transformation and new demands from customers. Nearly $10bn has been invested in InsurTech companies since the beginning of 2017.
As a result, this year’s process to identify the leading 100 companies in the InsurTech space was even more competitive than last year. A panel of analysts and industry experts voted from a longlist over 1,000 companies produced by FinTech Global and the finalists were recognized for their innovative use of technology to solve a significant industry problem, or to generate cost savings or efficiency improvements across the insurance value chain.
“It is imperative that established insurance companies become aware of the latest innovations in the industry in order to be able to compete today in a market that is heavily focused on digital distribution,” said Richard Sachar, director of FinTech Global. “The InsurTech100 list helps them do just that and to identify new business models which will have lasting impact on the industry,” he added.
Among the world’s leading InsurTech companies are the following:
Earnix: provider of an end-to-end Pricing and Product Personalization Software Suite, driven by world-class data science, analytical modeling tools, and integrated machine learning
Anorak: developer of a smart independent insurance adviser to enhance the user experience for Life Insurance sales
Insuritas: leader in insurance agency outsourcing for financial institutions
Moonshot Internet: a developer of on demand B2B2C insurance products and services for e-commerce, retailers, payment and travel firms
Planck: a leading artificial intelligence data platform that provides real-time risk and underwriting insights for commercial insurance
ThingCo: a provider of next-generation telematics products using the latest technologies such as ADAS, HD cameras, Intelligent voice and AI
Sureify: an InsurTech platform that enables life and annuity carriers to engage, service, and sell to their new and in-force customers across all channels
Bdeo: a claims and underwriting automation provider which enhances the way customers connect with insurance companies through visual intelligence
Tractable: a developer of artificial intelligence for accident and disaster recovery