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Top 10 Insurance Technology Solutions Companies - 2021
Insurance is one of the industries that has tried to keep technological advancements at arm’s length. This has paved the way for agile and tech-driven Insurance Technology companies to successfully penetrated the market space.
Their adaptability and survivability is best seen in the light of Covid-19 and the post-pandemic recovery of various companies in the insurance sector. The impact of the pandemic and subsequent financial crunch has drastically impacted insurance industry trends and customer outlook. Firstly, it has pushed health and wellness to the forefront of customer’s concerns, to which insurers have responded by bolstering their traditional medical and life cover with an array of digital health and wellness products and services. Companies offering solutions for the demand in the healthcare ecosystem will have a better advantage over their competitors.
Traditional setups that were skeptical of outright automation have changed their views as IT integration can aid them in complex decision-making. Solutions offering better flexibility and cost-savings for customers like flat premium revenues and pay-as-you-go insurance services are su... Continue Reading
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When Mark Tattersall founded BackNine in 2008, it was his love for the insurance industry that kept him going. He believed that the industry had the capacity to offer the important security that people needed at the most challenging phases in their lives, and it was imperative to better serve life insurance professionals across the country. Today, BackNine is aiming to provide life insurance sellers with the ultimate tech-enabled solution for streamlining and scaling their business while offering efficient and effective solutions for their clients
Pilotbird leverages lifestyle analytics to empower life and health carriers to deliver better insurance outcomes for millions of Americans via group ancillary products. Pilotbird offers out-of-box predictive analytics solutions on social data points for risk scoring, engagement of group member ahead of enrollment and fraud detection in group and worksite products. In group underwriting, it enriches traditional actuarial risk factors with social data points (e.g., smoking habits, lifestyle choices, high-risk hobbies) to segment cases while staying compliant with regulatory expectations. To reduce claims fraud, Pilotbird surfaces inconsistencies in the claimant’s behavior (e.g., claimant of disability policy enjoying an afternoon game of golf)
Offers a solid competence to craft great architecture to build agile, scalable, and high-performance digital systems
Performology
Performology is a complete business and employee performance management system that helps insurance agency owners drive the right behaviors by aligning their agency and staff with their parent company goals and then use incentive compensation to inspire and motivate maximum performance. End result: success becomes systemic throughout the organization. With their seamless integration platform, manage all aspects of the business under one intuitive platform with client’s existing lead management, CRM, and reporting tools
Adlib Software
Adlib’s purpose is to create better data that amplifies human potential and maximizes business performance. How do we get there? Their content intelligence and automation solutions make it easy to discover, standardize, classify, extract, and leverage clean structured data from complex unstructured documents. In doing so, their global customers reduce risk, simplify compliance, automate processes, and enter a whole new level of performance
Bolt Solutions
Bolt enables insurance companies to connect to each other and transform how insurance is bought and sold. Bolt is making property and casualty insurance simpler for everyone: carriers, agents, brokers and customers. Their SaaS (Software as a Service) insurtech platform enables companies to quickly create product and distribution partnerships in all 50 states
Duck Creek Technologies
Duck Creek Technologies gives P&C insurers a genuine path to the future with advanced technology grounded in decades of industry expertise, responsive to the unique challenges of each carrier, and shaped by the day-to-day of human behavior. They are sustained by a persistent curiosity that isn’t afraid to challenge the norms of the property & casualty industry, that believes the vision for tomorrow need not be tied to the legacy of today, and it is their job to get client’s there sooner
EasySend
EasySend empowers banks and insurance companies to quickly convert paper forms and clunky PDFs into beautiful and compliant eForms without writing a single line of code. Gain full visibility into how customers interact with your workflows, pinpoint problems leading to churn, enhance customer experience and drive revenue growth with powerful real-time analytics
iptiQ
iptiQ was born in 2016 from Swiss Re’s ambition to protect more people and their families by making insurance easier and more engaging. Their business model is based on forging strong partnerships to sell insurance via trusted brands. Combining their expertise with smart use of data and technology enables them to excel at creating scalable digital insurance solutions. Their partners benefit from tailor-made insurance products with little fuss
Majesco
Majesco is the leading software partner to both the P&C and L&A insurance markets to modernize, optimize and innovate their businesses at speed and scale. Over 330 insurers, from greenfields, start-ups and MGAs to the largest insurers, reinsurers and brokers use Majesco’s next generation SaaS platform solutions of core, data and analytics, digital, distribution, absence management and a rich ecosystem marketplace of established and InsurTech partners to build the future of insurance
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