2O Most Promising Insurance Technology Service Providers 2017

2O Most Promising Insurance Technology Service Providers 2017

After Insurance Industry opened itself to FDI and other regulatory changes, the country has wit­nessed increased participation of the private sec­tor insurance companies. For a long time, the traditional insurance business model has proved to be remarkably resilient. But time has changed. New com­panies are coming in with evolving regulation and dynamic market conditions which is increasingly playing a dominant role in reshaping the industry. They are feeling the effects of technology and might of Data Analytics. Insurance Technol­ogy Services are increasingly changing the product and service deliveries thereby changing the business model altogether. The time is currently ripe and for the near future the platform is all set to welcome the opportunities that are abound for in­cumbent insurance companies in this new world. But they will not be evenly shared. Those companies that move swiftly and decisively are likely to be those that flourish. Those that do not will find it increasingly challenging to generate RoI. One vital aspect of the technology enabled Insurance sector is that earlier Customer relationships used to be managed solely through an agent, but moving forward, relationship management is lean­ing towards digitalization. Companies need to strike a sym­biotic relation between digitization and customer relation by engaging social media, mobile apps and being mindful of geo-awareness from IoT sensors. Leveraging the cloud for data and IoT activities will give insurers the chance to know their customers better.

To sustain the digitization impact both agents and custom­ers need more intuitive user interfaces allowing real-time ac­cess to policy and claims. Real-time access to data, combined with a digital interface, presents the opportunity for reaching to new customers with new product types in a way that is sus­tainable for insurers. Opting for an apt Insurance Technology Service provider will allow insurers to manage risk, improve subscriber loyalty and optimize sales opportunities in better ways. The business circle, years of experience and expert’s views are some of the other pivotal aspects on which the deci­sions can be made. Considering these and observing the trends as well, CIOReview India has come up with a list of “20 Most Promising Insurance Technology solution providers 2017”. A distinguished panel of CEOs, CIOs, industry analysts and the CIOReview India editorial team has closely scrutinized these companies addressing the above features .We believe that the listing given by us will bring in a better clarity thereby ena­bling your businesses to take decisions that will sustain the test of time.

We present to you CIOReviewindia 2O Most Promising Insurance Technology Service Providers 2017.

Company Name Company Description
3i Infotech Renders end-to-end core insurance solution for business processes & customer service across claims, underwriting, reinsurance, billing, finance, and distribution.
AccelTree Software Renders a wide variety of products and solutions to the BFSI sector, with special focus on Insurance and Banking.
Allerin Tech Avails insurance business with big data solutions & insurance analytics for risk and claim management.
Basix Provides a comprehensive set of services that include Financial Inclusion Services (FINS), Agricultural / Business Development Services (Ag/BDS) and Institutional Development Services (IDS).
C2L BIZ Solutions Develops solutions around distribution management, claims management, underwriting, channel portal, customer portal and ODS.
Candela Labs An IP-led technology company focused on smart automation and digital solutions for insurers and banks.
Chegus Infotech Delivers a comprehensive set of insurance and re-insurance software solutions to developing economies.
Clover Infotech Offers solutions such as insurance automation, robo-advisory, virtual agents, and online advice.
Datacomp Enables insurance & financial services automation software solutions for the intermediaries.
GrayMatter Software Services Specializes in end-to-end BI implementation services, airport analytics, insurance analytics, SAP BO services, BPO analytics and finance analytics.
Hansa Solutions Avails insurance solution, reinsurance solution, rule engine, document management and group insurance solution.
ICM Solutions Provides an aggregator type insurance portal using technologies such as JAVA, J2EE, Struts,XML,Ajax,JSON, REST API and SOAP web services.
Intellika Technologies Expertise revolves around consulting, technology and sourcing to deliver next generation insurance solutions.
Mobinsure Software An insurance domain specific software company, with a focus of developing world class software products for insurance intermediaries on SAAS model.
NavisRx IT Solutions Delivers web-based strategy execution management platform across insurance and banking industry.
Nvest Solutions Builds software tools for insurance, mutual fund advisors for financial planning and advisory.
Sapiens International Offers core business insurance software solutions for insurers, brokers and MGAs of the general insurance, property and casualty, life, pension and annuities, reinsurance and retirement markets.
SatSure Advances in satellites, machine learning and big data analytics across multiple domains like agriculture, forestry, insurance, irrigation, cities, environment and oil & gas.
Track Four Infotec Expertise lies in health insurance, specifically in systems development, business process creation and re-engineering.
Winsoft Technologies Avails enterprise software solutions to financial organizations & solutions for depository participants, depository participants, mutual fund and insurance distributors.