Research firm FinTech Global announced the 2020 InsurTech100, a list that recognizes the world’s most innovative solution providers for the insurance industry. Nearly $17 billion has been invested in InsurTech companies since the beginning of 2017, according to figures published by FinTech. For the InsurTech100, a panel of analysts and industry experts voted from more than 1,200 companies and the finalists were awarded a place on the list 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.
The leading companies that were awarded a place on the InsurTech100 include:
Anorak: the world’s first fully automated life insurance advice platform authorised by the FCA.
Bdeo: creating a fully automated, instant, and seamless underwriting & claims management process based on artificial intelligence (AI) to transform the industry.
ClaimVantage: global InsurTech vendor providing cloud- native, life, health, and absence claim management solutions.
EIP: InsurTech software bus iness enables device and lifestyle insurance providers to reduce costs, maximize profits and upgrade their digital customer experience.
Humn.ai: deep-tech MGA using streaming data, neural networks and real-time geospatial risk modelling to modernise commercial fleet insurance.
Jooycar: the fastest growing auto InsurTech and connected car company in Latin America that arrives to the U.S. market.
Life.io: leading customer engagement technology firm that helps insurers accelerate the development of their end-to-end digital client experience.
Maptycs: advanced risk data analytics, geospatial visualization, and severe weather events monitoring for property risk analysis and loss projections.
Medallia: experience management cloud technology company enabling insurers to engage with customers across the entire customer journey.
NeuralMetrics: underwriting solutions company helping customers classify and automatically assess risk quality in seconds for prospects, live submissions, and portfolio management.
Omniscience: powers insurers’ multi-decade compounding advantage through better risk selection, 92% complex Underwriting Automation STP rate, and 90% opex reduction.
Planck: leading AI data platform that provides real-time risk and underwriting insights for commercial insurance.
QOMPLX: cloud-native risk management SaaS solution provider that helps insurance firms solve data challenges and improve underwriting processes.
Quantiphi: an applied AI and data science software company helping insurers with data transformations and custom AI solutions.
Relay: the first subscription- based all-inclusive risk placement platform for commercial insurance and reinsurance.
ThingCo: provider of next- generation telematics products serving both the B2C and B2B insurance markets.
Wakam: digital B2B insurer that creates white label innovative insurance solutions for all types of distributors.
A full list of the InsurTech100 can be found at TheInsurTech100.com.