The new InsurTech100 list for 2021 is launched today. The prestigious ranking recognizes the world’s most innovative technology solution providers that address the digital transformation challenges in insurance.
The InsurTech (insurance technology) sector has experienced explosive growth in the last two years as the huge increase in the use of digital channels and the level of customer expectations due to COVID-19 restrictions has accelerated the need for innovation. On the current trajectory, the global InsurTech market is projected to reach $100bn within the next five years.
This year’s process to identify the 100 InsurTech innovation leaders was more competitive than ever. A panel of analysts and industry experts voted from a longlist of over 1,400 companies produced by FinTech Global, a specialist research firm. The finalists were recognized for their innovative use of technology to solve a significant industry problem, enhance the customer experience or generate efficiency improvements across the insurance value chain.
FinTech Global director Richard Sachar said, “Consumers and businesses increasingly expect insurance cover to be offered via a range of digital and offline channels, and insurers that fail to keep up with the latest technologies and innovation will be less competitive and lose market share. The InsurTech100 list helps senior decision-makers in the industry filter through all the vendors in the market by highlighting the leading companies in sectors such as underwriting, pricing, IoT devices, distribution and data & analytics.”
Some the world’s leading companies in the 2021 InsurTech100 include:
AdvantageGo: provider of commercial (re)insurance management solutions that transform how insurers manage underwriting, policy and claims administration
AkinovA: the only neutral digital marketplace with full new regulatory approval to transfer and trade insurance risks
CelsiusPro: Swiss ClimateRisk InsurTech specializing in industrializing index insurance solutions to mitigate the effects of adverse weather, climate change and natural catastrophes
Companjon: Europe’s leading InsurTech specialising in innovative add-on insurance that is fully flexible, hassle-free and all digital
Earnix: providing insurers with fully personalized and dynamic rating, pricing, and product offerings, through predictive analytics and advanced Al/ML capabilities
EIP: an InsurTech software business providing a plug & play digital marketplace for managing and offering subscription insurance products
Greater Than: offers real-time data analytics that predicts driver-related accidents and CO2 emissions helping motor insurance & mobility decrease fatalities and carbonization
Insuritas: leader in embedded P&C insurance agency solutions for financial services providers in the U.S.
iPipeline: the leading provider of no code/low code, content-based digital solutions for life, annuities, and wealth management
Life.io: leading customer engagement technology firm that helps insurers accelerate the development of their end- to-end digital client experience.
Majesco: a leading SaaS software provider for P&C and L&A insurance markets to modernize, optimize and innovate their businesses at speed and scale.
NeuralMetrics: provides AI-driven customer lifecycle solutions, empowering insurers to increase classification accuracy, improve underwriting, reduce premium leakage & prevent adverse selection
Pinpoint: developed a cutting-edge data and analytics platform leveraging behavioral economics to improve carriers’ ability to predict key insurance outcomes
Quantiphi: an AI-First digital engineering company helping insurers with data transformations and custom AI solutions
Qumata: helps Life & Health insurers streamline their underwriting process, allowing applicants to avoid lengthy questionnaires by sharing their digital data
Relay Platform: the first agnostic quote-bind-issue platform for brokers and underwriters enabling workflow and data control, powerful quoting and proposal generation features
Sure: SaaS infrastructure and robust APIs that enable faster speed to market for embedded insurance programs
ThingCo: provider of next-generation telematics products serving both the B2C and B2B insurance markets
Ushur: delivers the world’s first AI-powered Customer Experience Automation™ platform, purposely built to intelligently automate the end-to-end insurance customer journey.
Wakam: digital B2B insurer that creates white label innovative insurance solutions for all types of distributors.
A full list of the InsurTech100 and detailed information about each company is available to download for free at www.TheInsurTech100.com.