The second annual InsurTech 100 list has been revealed by FinTech Global, identifying the industry’s pioneering companies as we come into the new year.
This list identifies the world’s most promising and innovative technology solution providers in the insurance space.
Companies in last year’s report received a lot of attention throughout the year. A total of $300m in venture capital funding was invested into those listed in the inaugural report. The largest deal for a company in the former InsurTech 100 was a $60m Series C by Acko General Insurance which put its company valuation up to $300m.
The InsurTech industry has witnessed strong growth levels over the past few years. Since the beginning of 2017 nearly $10bn has been invested into the space, with over $3.7bn of this coming in 2019 alone.
A panel of analysts and industry experts voted on more than 1,000 companies, with the finalists being chosen for an innovative use of technology to solve a significant industry problem, or generate cost savings or efficiency improvements across the insurance value chain.
End-to-end pricing, rating and product personalization software suite Earnix was one of the companies to make this year’s list. Others to make the new report are smart life insurance advice platform Anorak, SaaS platform to for life and annuity carriers Sureify, AI data platform for real-time risk and underwriting insights Planck, claims and underwriting automation solution Bdeo, and AI solution for accident and disaster recovery Tractable.
Several companies from last year’s list managed to hold onto their positions in the list. Returning companies included on-demand B2B2C insurance product developer Moonshot, telematics product builder ThingCo, insurance agency outsourcing for financial institutions Insuritas
FinTech Global director Richard Sachar said, “Established insurance companies need to be aware of the latest innovation in the market in order to remain competitive in the current market heavily focused on digital distribution. The InsurTech100 list helps them do just that and identify new business models which will have lasting impact on the industry.”
A full list of the InsurTech 100 and a summary description of each company can be downloaded for free from the website: www.TheInsurTech100.com.
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