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The prestigious ranking celebrates the groundbreaking tech companies that are developing solutions to the insurance industry’s most daunting challenges.
LONDON, UNITED KINGDOM, September 20, 2023/EINPresswire.com/ — Specialist research firm FinTech Global has unveiled its sixth annual edition of its prestigious InsurTech100 list. The ranking celebrates the groundbreaking tech companies that are developing solutions to the insurance industry’s most daunting challenges.
Over the last couple of years, insurance firms have faced an uphill battle to rapidly digitize their services and meet the evolving customer demands. InsurTech companies have consistently been the solutions to these challenges. Experts predict the sector is set to soar at a CAGR of 32.7%, estimating its worth to be $159bn by 2030.
This competitive landscape meant this year’s battle to earn a spot amongst the 100 InsurTech visionaries was intense. A select group of analysts and seasoned industry specialists sifted through a comprehensive list of over 1,900 contenders presented by FinTech Global.
The chosen few were acknowledged for their inventive technological applications either to solve a major industry challenge or to bolster efficiency throughout the insurance value chain.
FinTech Global’s director, Richard Sachar, commented, “The widespread availability of generative AI capabilities has opened the doors for even greater innovation within insurance. We’re entering a new wave of digitalization and insurance firms need to be prepared. The InsurTech100 will help top-level insurance executives in discerning the tech pioneers revolutionizing key areas like underwriting, pricing, distribution, and data analytics.”
Here is just a sneak-peak at some of the industry-defining InsurTechs which made the list:
Appian: Everything you need to design, automate, and optimize your most complex insurance processes. Unlock innovation with AI process automation
Ascent: the company helps leading global insurers and reinsurers to build new capabilities and accelerate digital maturity in the cloud
Assurdeal: offers unique proprietary AI which is assessing brokers, customers portfolios, finding ideal buyers and sellers in real-time
Companjon: leading European InsurTech specializing in innovative AI-driven embedded insurance for B2B2C that is fully digital, flexible, and frictionless
Cortical.io: delivers AI-based solutions that streamline the extraction, classification, review and analysis of information hidden in complex documents
DigitalOwl: AI platform for summarizing medical records, so teams can make smarter, streamlined decisions
Expert.ai: delivers underwriting and claims solutions through its AI Platform, automating language intensive processes to increase capacity, cut costs and improve win rates
Federato: offers RiskOps underwriting platform for P&C and Specialty insurance carriers and MGAs, providing real-time risk selection and portfolio optimization
GIROUX.ai: boosts insurance underwriting profits for your business with its powerful profitable revenue generating data analytics, machine learning, AI platform
Glia: helps insurers redefine how they interact with their policyholders and agents to deliver a personalized, efficient customer experience
IntellectAI: offers an AI powered end to end underwriting ecosystem serving Commercial, Specialty and E&S insurance lines
Majesco: leading SaaS software provider that empowers the success of the insurance industry’s digital transformation
Nanoinsure: offers no-code & low-code platform empowers insurers self-configurate products, build digital frontend and life admin applications faster. Proven.
Novidea: the leading InsurTech provider of a data-driven insurance platform for brokers and MGAs to manage customer insurance journeys
Relay Platform: Intuitive broker desktop for modern commercial brokers increases & easily manages deal-flow, simplifying access to instant-quotes from digital and traditional carriers
VisitorsCoverage: InsurTech innovator changing the way people think about travel insurance
YuLife: delivers group insurance products that improve lives and reward wellbeing
A full list of the InsurTech100 for 2023 and detailed information about each company is available to download for free at www.TheInsurTech100.com.
Mariyan Dimitrov
FinTech Global
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