The top 100 InsurTech companies from around the world have been named in this year’s InsurTech 100, which has been compiled by FinTech Global.
This list outlines the innovative technology solutions which are redefining the sector and every leader in the insurance industry needs to know about in 2019.
InsurTech (insurance technology) is one of the largest and most active sectors within the FinTech space. According to FinTech Global, over $7bn has been invested in InsurTech solution providers since 2015 as insurance companies and investors look to benefit from the huge impact new digital models will have on the industry.
A panel of analysts and industry experts reviewed research around thousands of InsurTech companies from FinTech Global’s database before selecting the final 100.
Those to make the final cut were chosen based on how their technology is being used to solved major problems in the industry, either by cutting costs or improving efficiency across the value chain.
The US was the most represented country in the list, with 39 of the InsurTechs being based there. These include small business insurance broker Bunker, and Pie Insurance, which uses data analytics to provide workers’ compensation.
The next biggest country for companies named in the report was the UK, with there being 20 startups listed. Pay-per-mile car insurance By Miles, end-to-end insurance chatbot Spixii and subscription-based pet insurance Waggel were some of those named.
France, India, Singapore and Germany, make up another 17 companies to feature in the report, with the remaining list compiled of solutions based in Brazil, Sweden, South Africa, Netherlands, Australia and Hong Kong.
“The impact of the most innovative InsurTech companies will be measured in billions of dollars over the next few years,” according to FinTech Global director Richard Sachar.
“InsurTech 100 companies offer solutions that enhance functions across the entire insurance value chain, including marketing & distribution, underwriting & risk rating, claims and customer retention, and they incorporate the latest technologies, such as big data analytics, blockchain, artificial intelligence, the internet of things and bot-assistants.”
Last year, FinTech Global compiled the RegTech 100, a list of the most innovative regulatory technology solutions available in the market. The data and analytics platform is currently in the process of compiling this year’s RegTech 100 list.
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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