Seventh annual InsurTech100 names the companies transforming the insurance industry
FinTech Global has released the new edition of its InsurTech100 list, highlighting the top innovators addressing the critical challenges facing insurers
LONDON, UNITED KINGDOM, October 9, 2024 /EINPresswire.com/ — Despite challenging macroeconomic and funding environment recently, the InsurTech industry continues to show resilience, recording strong year-on-year growth. Based on recent reports the sector’s market size has grown from $18.7bn in 2023 to $25.9bn in 2024. The long-term growth potential of the sector is also providing hopeful reading for investors and industry stakeholders. The InsurTech market is set to grow to a size of $496.5bn by 2033, a whopping 38.8% CAGR growth rate.
Given this strong growth, it is not surprising this year’s contest to make the InsurTech100 ranking was the most competitive to date. To compile the list, a panel of seasoned analysts and industry veterans meticulously reviewed over 2,100 nominations presented by FinTech Global.
Each application was assessed on its ability to leverage technology, to either tackle a significant industry obstacle, or enhance efficiency across the insurance value chain, with only the most innovative and impactful companies making the final cut.
FinTech Global CEO Richard Sachar commented on the importance of the list, stating, “The InsurTech100 is a vital resource for industry leaders looking to stay ahead of the curve. The companies that have worked their way onto the list are driving real innovation and providing the tools insurers need to navigate the complexities of digital transformation in this dynamic marketplace.
“As industry leaders refine their technology strategies, these companies are playing a pivotal role in shaping the future of insurance. The solutions they offer—ranging from artificial intelligence and machine learning to telematics—are changing the game across the sector.”
Some of the world’s leading businesses in the 2024 InsurTech100 include:
Agentero: digital insurance network that connects independent insurance agents with top-rated carriers
AgentSync: builds modern insurance infrastructure that connects carriers, agencies, MGAs, and producers
Companjon: leading end-to-end InsurTech specializing in innovative, AI-driven embedded insurance solutions for B2B2C that are flexible, dynamic, and frictionless
Cortical.io: automates the review of complex documents with meaning-based software and improves the quality and efficiency of document-centric insurance processes
Decerto: delivers insurance software solutions like Agent Portal and Higson, serving major companies in Poland and abroad
Five Sigma: offers an AI-native, automation-first claims management platform (CMS) and Clive™, the insurance industry’s first AI Claims Adjuster
GIROUX.ai: Our multi-dimensional AI and insurance predictive analytics platform improves underwriting accuracy, enhances operational efficiency and boosts profitability
Hexure (formerly Insurance Technologies): offers digital solutions for the insurance industry that optimizes sales and efficiency throughout the entire process
IP Integration: enables insurers to meet their digital transformation goals with creative and innovative Contact Centre, Cloud and Connectivity services and solutions
Majesco: a top SaaS provider, powers insurance transformation with cloud-native solutions, intelligent workflows, insights, and risk management for P&C and L&AH
Nanoinsure: empowering insurers to innovate products, deliver seamless digital sales applications, and modernize policy administration systems with Nanoinsure intelligent software
Peak3 (formerly ZA Tech): The next generation insurance cloud platform for Life, Health and P&C Insurance
SAFE Security: AI-driven cyber risk management platform providing real-time insights and recommendations to align security with business objectives
Treppy: Transforming travel insurance distribution through AI-powered solutions and delivering superior experiences for agents and travelers worldwide
A full list of the InsurTech100 for 2024 and detailed information about each company is available to download for free at www.TheInsurTech100.com.
Mariyan Dimitrov
FinTech Global