10 Most Promising Insurance Tech Solution Providers - 2021
With the advent of technology and modernization of almost all sectors, insurance sector, being slow in change, is considered as a conservative sector. But within last few years insurance sector has undergone massive change as they emerge to exploit the technology. The innovation of IOT has bought significant change in insurance company proceedings. Data, being the widely known secret to success in today’s world, it is necessary to identify wanted and unwanted data from the massive data generated by IoT sensors. Data analysis is always required in the insurance sector. Even the traditional methods of insurance sector involves data analysis, management and wise use of this data in business. This huge data collection and procedures makes the traditional insurance proceedings too lengthy. Integration of modern technology could reduce this time and by doing so some of the insurance companies have succeeded in reducing its 1 week long procedures to 20 minutes. Adoption of technology solutions with AI integration among insurance companies will help to understand the demands of customers, key trends, and new product innovation processes.
India’s share in the global insurance market is estimated as 1.7%, and it is expected to grow to 2.3% by 2030. India’s total real premium growth rate, which was 9.3% which is 1.5% of the world average in 2018.Global Insurance tech Market revenue was valued as 5.48 billion in 2019 and is expected to reach 10.14 billion by 2025, growing at a CAGR of 10.80% during the period 2019-2025.
Understanding the needs and studying key progressions and developments in the business sector with the entry of technology in insurance sector CIOReviewIndia brings you “10 Most Promising Insurance Tech Solution Providers - 2021” The following list helps every organization to find right insurance tech solution providers and is prepared by a panel of judges including CEOs, CIOs, Industry analysts and CIOReviewIndia editorial team.
We present to you CIOTechOutlook 10 Most Promising Insurance Tech Solution Providers - 2021.
10 Most Promising Insurance Tech Solution Providers - 2021
Recommend a Company
| Company Name | Company Description |
|---|---|
| Vertafore | The leader in modern insurance technology, has built and delivered best-in-class InsurTech solutions to connect every point of the insurance distribution channel. |
| Company Name | Company Description |
|---|---|
| Candela Labs | provides a ‘stress-free’ experience for claimants, partner providers and insurers – from initiation to assessment and pay-out. |
| Company Name | Company Description |
|---|---|
| Actlogica | A comprehensive, fully integrated and state-of-the-art software for wealth managers |
| Claim Genius Inc | Makes claims processing, damage assessment, and recycling a smooth experience by skilfully coupling AI and claiming process |
| Cosmonet Solutions | With business intelligence and technical expertise, we deliver a great customer experience through innovative end-to-end digital solutions. |
| Eoxegen | A cloud-based, PaaS and SaaS insurance solution that help organisers to provide worldclass experience to their customers. |
| Neutrinos | Create hyper-personalised user experiences across all touchpoints in the customer and employee journeys. |
| Omnino Solutions | Provides Business Analysis, Development & Customisation, Testing and Support services to enable organisations maintain their Core Insurance Systems effectively. |
| Popcode Innovations | Identifies and fixes the problems in motor insurance claim settlement like Delay in process, Fraudulent, Cost effective repair and Salvage recycling. |
| Vieva InTech | Provides innovative solutions for efficiency and fraud control in insurance processes in India and internationally. |