Top 25 InsurTech Companies - 2018

ACD

ACD is a leading InsurTech company, which provides a software platform for workflow management by leveraging the technology of cloud computing. Offering expert assistance to the enterprises in claim processing, premium accounting, and other critical operations, ACD emphasizes on achieving customer satisfaction. Autolink is the innovative insurTech platform developed by this company. This unified platform acts as a digital hub to ensure ultra-fast centralized claim processing. With comprehensive strategies to merge technology and human capital seamlessly, ACD focuses on providing end-to-end process optimization along with consistency and cost efficiency. To drive smarter decision-making, the company has developed robust data analytics. ACD’s offerings collectively drive the industries toward success.

acdcorp.com

App Orchid

An advanced insurance technology solution provider, App Orchid leverages Artificial Intelligence (AI), machine learning and natural language interface to provide deep analytical insights. This company offers solutions complying with both structured and unstructured data types. By conceptualizing cognitive computing, App Orchid holds the mission of developing intelligent applications, which cater to the needs of the insurers. Helping the insurance companies in handling risks, achieving customer satisfaction and improving efficiency, App Orchid follows authentic operational approach. The company profoundly transforms the legacy of insurance processes by using advanced big data-driven memory concepts, and pattern matching algorithms.

www.apporchid.com

CHSI Technologies

CHSI Technologies is a top insurance technology company, which offers innovative insurance management software solution by leveraging cloud technology. By developing Connections, a unique insurance technology application, CHSI Technologies caters to the needs of both large and small scale enterprises. Featuring high-quality and affordable solutions the company envisions leading the realm of insurance technology. CHSI Technologies employs its rich expertise to offer cutting-edge insurance management services. Understanding the utility needs of the insurance industry this creative platform delivers informative insights to optimize the performance of this sector.

chsiconnections.com

edjuster

Empowering insurers, edjuster offers reliable insurance management software solutions. The company’s high-quality offerings are capable of satisfying the needs of both, the insurance providers as well as the claimants. With a vision of optimizing performance, workflow and the operational methods of the insurance industry, this company provides innovative, trustworthy and fulfilling value-added solutions. Serving the world with its creative and smart InsurTech applications edjuster plays a significant role in designing result-driven insurance strategies. edjuster promotes error-free transactions and policy evaluations and ensures dispute-free claims processing with smooth customer service.

www.edjuster.com

FAST

One of the leading insurance technology solution providers, FAST stands for “Flexible Architecture, Simplified Technology.” Fulfilling the needs of the financial and insurance sectors, FAST offers various simple and user-friendly technology solutions, which help in overcoming the critical industrial challenges. Known for structured and dynamic software architecture, FAST’s products and services integrate with the working principles of the insurance providers to streamline processes effectively and achieve desired outcomes. Developing various specialized solutions such as FAST 8x automation engine, and high-tech SOA-compliant insurance components, the company, focuses on upgrading the traditional ideas and legacy systems.

www.fasttechnology.com

Genius Avenue

Genius Avenue is a top insurance technology company, which envisions redefining the strategies and digitalizing the operational methodologies of the insurers. By leveraging best of the technologies, Genius Avenue has gained rich expertise in providing insights into go-to-market policy plans, and other insurance-related processes. The company extends its services to provide product assistance to other sectors like distribution, and more. Genius Avenue has tailored several applications like digital payment gateway, policy-consumer engagement platform, and insurance management systems, as per the customer needs such as secured online payment facilities, policy insights, and accurate evaluation of premium and claims.

thenextgeniusavenue.com

Imprezzio

Imprezzio provides insurance technology applications, which help in boosting productivity and profitability. The exclusive sales software system, designed by Imprezzio maximizes business opportunities to enable the insurers to reap better outcomes. This company offers a software solution suite which is realistic, intuitive, and result-driven. The software platform helps in improving sales by analyzing the market situation and initiating strategized lead generation. Established in the year 2004, Imprezzio began as a developer of data management software to help the insurers carry out insurance processes efficiently. Software solutions and innovative sales strategies offered by the company drives the insurance industry towards growth and excellence.

imprezzio.com

InsurIQ

Transforming the software ecosystem of the insurance industry, InsurIQ has emerged as a leading insurance technology company. InsurIQ replaces the existing manual and analog working styles with the latest automatic and digital operational environment by providing high-tech end-to-end product and process management solutions. The company’s user-friendly offerings serve multiple functions. Facilitating single-point data access control high-speed and high-quality software solutions ensure cost and time efficiency along with insurer and customer experience.

insuriq.com

MFX

MFX is a renowned insurance technology company, which develops specialized business applications to commercial property and casualty insurers. Analyzing and combining the various processes of the insurance industry, MFX has developed a system integrator, which offers expert insights into business optimizations. This company’s software suite is found reliable by many insurance providing companies across the globe. With advanced InsureTech applications, MFX serves the insurance companies with ideas to keep pace with the continuously changing market demands. As a trusted business optimization partner, MFX has been delivering customer-focused and impactful strategies.

www.mfxservices.com

Reliant Vision

The global market leader, Reliant Vision provides expert IT insights to enable the insurance industry to employ technological solutions to overcome workforce or talent management issues. The company designs innovative strategies to streamline staffing processes and integrates them with IT-based applications. Developing customized software solutions, Reliant Vision upgrades the software ecosystem. The best-in-quality proactive solution suite offers comprehensive ways to found end-to-end claims processing. Founded in the year 2013, Reliant Vision has been serving the various aspects of insurance management. Broadening its functional prospect this company provides specialized outsourcing and consulting services.

www.reliantvision.com

SE2

SE2 is known for developing Business Process as a Service (BPaaS) platform, which exclusively helps the annuity and life insurance companies. Providing innovative third-party administration (TPA) solutions, SE2 simplifies complex operations. Supporting cost-effective process management, the company provides business tactics to help the insurers stay in tandem with the changing market requirements. By employing its creative knowledge, SE2 delivers software products and services by leveraging the latest technological trends. Along with improving the profitability of the mid-scale insurance industry and millennial service seekers, this highly reliable and purpose-specific platform drives the insurance industry towards achieving its goals.

se2.com

Simply Easier Payments

Simply Easier Payments is a popular insurance technology company, which has developed a smart electronic payment gateway tailored for the insurance industry. Empowering the insurers this high-tech platform facilitates smooth and secured online payments. Simply Easier Payment gateway supports real-time transactions on both web and mobile platforms. Ever since 2006, Simply Easier Payments has been revolutionizing online and voice payment processes. Adapting to the continuously evolving technology, this company has been fostering value-added payment processing strategies. The gateway offers different options to enhance the customer experience.

www.simplyeasierpayments.com

Smart Communications

Smart Communications offers customer communications management (CCM) solution, helping businesses to scale their communications more efficiently. The CCM solution of Smart Communications allows insurance companies to cater communications to the channels preferred by their customers and relieve the burden on IT teams. Apart from Insurance, Smart Communications also provides innovative CCM solutions for financial services, healthcare, and travel. Smart communications offers Conversation Cloud, which makes it easy for a company's Marketing, Customer Service, and Operations teams to take full advantage of their data infrastructure from a single unified framework. Smart Communications also delivers other products such as SmartCOMM, SmartCOMM for Salesforce, smartDX, and Margin Xchange.

www.smartcommunications.com

Systems Consulting Services, Inc.

Systems Consulting Services, Inc is a software company that offers a cost-effective solution for underwriting through its java-based Business Information Analysis System (jBIAS). jBIAS is an automated data retrieval system which allows various insurance carriers to obtain actionable underwriting data. The solution also enables insurance companies to interface with various third-party data service provider, which helps them to avoid the expense of developing and maintaining an in-house custom solution. jBIAS also acts as a single platform for insurance companies to aggregate all of their underwriting data, allowing businesses to serve their customers with a competitive edge over their counterparts.

www.scsiweb.com

TFA Benefits

TFA Benefits is a leading general agency that offers brokers and consultants with various products and services. The company’s innovative solution TFA Edge enables its customers to provide individual quotes, group quotes and ACA enrollments in just minutes. The solution offers an easy AOR with no paperwork and group options with a single census. TFA Edge also enables its customers to complete an application on Healthcare.gov website within minutes by offering them Web-Broker status. The Web-Broker status provides brokers with direct access that decreases enrollment time from an hour to less than 10 minutes. TFA Benefits delivers other services like individual quoting and enrollment, Group quoting, compliance regulation among others.

www.tfaedge.com

Virtual Benefits Administrator

Virtual Benefits Administrator is a leading software design company that offers custom solutions to insurance companies. The company delivers a unique and secure common cloud-based architecture, allowing insurance companies to administer any line of business on a single platform. The platform integrates customer service dashboards and intuitive benefit plan, design, and testing, which helps insurers to reduce administrative costs and increase productivity across the organization. The company also offers a VBA Gateway solution, which is a self-service web portal. The self-service web portal allows a company’s employees to have instant access to all the information.

vbasoftware.com

Applied Systems

Applied Systems is a software company that provides leading cloud-based software to insurance companies. The company offers an agent management system, which is a single, integrated system that offers a panoramic view of clients and prospects to each agent regardless of role, time, and location. Applied Systems also delivers insurer connectivity technology that helps insurance companies to have a single workflow for assessing new markets and automating policy information exchange. Its technology eliminates time and cost spent on manual processes, enabling businesses to deliver faster and more efficient services to insureds. Applied Systems also offers various other solutions which include data analytics, mobility, cloud services, marketing and distribution, and many others.

BRIDGE INSURANCE GROUP

Bridge Insurance Group is a diversified independent insurance agency that offers customized individual insurance solutions. Bridge Insurance Group provides insurance solutions for various industry verticals such as Medicare, Automotive, commercial, home, annuities, and others. The company offers client services and processing systems that help businesses in office management. Bridge Insurance Group also delivers client resolution support to assist in the resolution of customer inquiries that needs careful consideration and professional guidance. The company presently serves in Ohio, West Virginia, Michigan, Indiana, Illinois, Maryland, Florida, and has an industry experience of more than 30 years.

CodeObjects

CodeObjects is a leading software and services platform for the property and casualty insurance industry. The company offers innovative cloud-based enterprise software and services platform that allows insurance companies to drive business efficiency, adapt to market change, and increase profitability and growth. The robust modeling framework of the company helps in cost control by reducing product, rating, and forms configuration complexities. CodeObjects also offers intuitive rules management that allows insurance companies to make product changes without depending on IT. The company also provides State-of-the-Art workflow and rules engine that helps companies to optimize operations by automating the error-prone processes.

DOCUTRAX

DOCUTRAX is an information technology and services company that facilitates risk transfer from businesses to third-parties through professional oversight of certificates of insurance (COI) and other compliance-related documents. The company offers a full-service solution for its clients to manage collection, notification, and communication with insured ones and their insurance brokers. The DOCUTRAX solution improves risk management and reduces a company’s exposure to unnecessary claims due to the negligence, carelessness or accidents caused by others. The company also allows its clients to set up a system to solicit, track, manage, and report various document with a central repository to store all the information that has controlled user access.

DXC Technology

DXC Technology is a leading independent, end-to-end IT services company that delivers innovative digital transformations for enterprises. The company offers a comprehensive modernization and application portfolio management services that leverage the latest innovations in cloud, mobility, cybersecurity, social and analytics and offer true end-to-end capabilities. The management services help insurance companies to re-master their application portfolios, and experience dramatic improvements in agility, operational performance, and regulatory compliance. DXC Technology also offers a comprehensive suite of insurance software that enables insurance companies to enhance operational efficiencies, customer experience, and adapt to changing risk landscape. DXC Technology also provides many other services like analytics, cloud services, and Internet of Things (IoT).

INSURITY

Insurity is an insurance technology company that offers core insurance processing software and data integration and analytics solutions. The company enables property & casualty insurers to modernize their enterprise and achieve their business goals through various innovative solutions. The company’s vast industry experience coupled with core processing applications and data integration and analytics solutions helps it to process billions of dollars of premium each month for more than 100 insurers. The company provides a suite of software and analytics solutions for policy administration, claims, billing, reinsurance, and data integration.

Majesco

Majesco is a leading insurance solutions and services provider that delivers software solutions for core insurance functions such as, policy administration, Underwriting as well as billing and claims. The company delivers cloud computing, microservices and API-enabled technology solutions that allow insurers to modernize, innovate, and connect to build the future of their business, helping enterprises to move with the market, create business value and deliver innovation to customers faster. The company also provides various other consulting and insurance specific IT services for testing, data conversion, data-warehousing/BI, mobility, enterprise integration, and business process management.

PEGA

PEGA is a leading customer engagement and digital process automation company that empowers companies to quickly deploy, extend and change applications to meet strategic business needs. Many insurance companies implement Pega’s technology solutions that allow them to automatically match millions of transactions together in real-time, which can take several weeks or months for brokers and carriers to match. The company’s artificial intelligence software allows insurers to deliver the most personal and relevant customer experience at every touchpoint. The company offers CRM applications, BPM and case management, chatbots and virtual assistants, mobility, workforce intelligence, and many other services for various industries like finance, healthcare, manufacturing, energy and utilities, and several others.

Sapiens [NASDAQ and TASE: SPNS]

Sapiens is a leading software solutions provider for the insurance industry. The company offers digital software and services for various verticals of insurance market like property and casualty, life, pension and annuity, reinsurance, finance, compliance regulations, employee compensation, and so on. Sapiens also provides customer and agent portals, which offer advanced analytics solution with an API layer and digital studio. The company offers modern automated insurance carriers’ processes, which help in developing organizational efficiencies and providing a better end user experience. Sapiens also delivers cross-domain expertise that consists of insurance practice expertise, business analysis, program management, and business transformation.