20 Most Promising Insurance Technology Solution Providers - 2015

As the digital revolution transforms the way enterprises interact and do businesses, the insurance world is fundamentally going through a major transfiguration. Digitization is impacting the en-tire insurance value chain, from insurers to intermediaries, distributors, and service providers. Today, insurers have developed deep resources, strong balance sheets, enormous scale, vast quantities of data, and rigorous process discipline—all assets that can help them connect with customers in the new digital environment.

Far from being an intellectual pursuit or an interesting trend in other industries, many insurers view advanced technologies as critical to satisfying the needs of customers and agents, running an efficient and profitable business, and providing a competitive edge in the marketplace. Each of these technologies creates opportunities and challenges for insurers. It provides security, reduces business risks, encourages savings, accelerates the economic growth of the country, offers credit facilities, and reduces inflation.

Based on relative importance to the industry, the next generation trends cover a wide spectrum of technologies—Analytics and Big Data, Mobility, Collaboration, Cloud computing, Telematics—enabling business model revolution, innovation, and customer experience. Also, as a highly regulated industry, insurance carriers always need to build regulatory compliance into their business processes and adjust their processes to assure they remain in compliance as new regulations are enacted.

To help CCOs, CIOs, and CEOs find the right insurance technology and provider for their enterprises, our selection panel has evaluated hundreds of insurance technology providers that own innovative technologies in this space. In our selection, we looked at the vendors’ capability to fulfill the burning need of cost-effective and flexible solutions to tackle complex challenges of the insurance sector. We present to you CIOReview’s 20 Most Promising Insurance Technology Solution Providers 2015.

Company Name

Company Description

AccelTree Software Provides world-class mobile enterprise solutions to large and medium Insurance companies to enhance productivity of their field force by using mobile phones and tablets as an extension to the existing core systems
Appian A leader in modern BPM and Application Platform-as-a-Service(PaaS), providing organizations across the globe with the solutions needed to transform business
AWPL A specialist organization providing Business Process Automation and Optimization solutions exclusively to Insurance companies, Banks and Financial institutions
Bolt Solutions Offers the leading online sales and client service platform for anyone who wants to sell or buy insurance online
DataCede Provides first class service and tools to customers, identifying core issues faster while reducing costs and maximizing ROI
FirstBest Systems, Inc. A leading provider of property/casualty insurance underwriting technology and services to U.S and global insurance firms.
FJA-US, Inc. FJA-US, Inc. enables insurance carriers to shorten the time as well as reduce the cost of bringing products to market.
InsPro Technologies A provider of life insurance policy administration systems
Insurity Provider of efficient and innovative solutions for streamlining data operations of Insurance enterprises.
Intrasurance Technology Services A provider of software solutions that specializes in automating and simplifying insurance processes to drive consumer self-service and reduce operational costs and IT investments
LIDP Software Solutions Providing innovative solutions for life, annuity, and health insurance administration for over 30 years
PlanSource PlanSource provides the industry’s most flexible and extensible health exchange and benefits engagement platform in the cloud
RAM Technologies RAM Technologies specializes in the development of superior software solutions for health insurance payers.
Resource Edge A company that establishes an effective way to automate and improve the Internet resume search and source process for insurance and financial service recruiting.
Riskonnect Riskonnect provides the premier, enterprise-class risk management work platform, configured to meet its clients’ existing business processes.
Sequel Business Solutions A company that offers a fully hosted, fixed priced Eclipse Managed Application Service for insurance organizations looking to benefit from outsourcing and cloud solution
SPLICE Software A Company that creates automated dialogs augmented with user data to improve Customer Engagement
ThreatMetrix ThreatMetrix builds trust on the Internet by offering market-leading advanced fraud prevention and frictionless context-based security solutions. These solutions authenticate consumer and workforce access to mission critical applications using real-time identity and access analytics that leverage the world’s largest trusted identity network
Ventiv Technology A leading global provider of risk management, claims and safety solutions to businesses and public entities
WEBCBG Provide advanced and flexible IT solutions by combining latest technologies with experience in risk management and insurance