Top 20 Insurance Technology Companies - 2017

Top 20 Insurance Technology Companies - 2017

Insurance companies face a new marketplace today. One that is flooded with numerous technologies, influenced by IoT and data analytics. This is driving a change in the operating and business models of insurers, creating new InsurTech partnerships through disaggregation in insurance value chain—fostering the emergence of firms that offer specialized products and services. Amid the changing scenario, insurance companies are turning toward blockchain, augmented reality, Artificial Intelligence (AI) and Robotic Process Automation (RPA) to streamline business processes and operations.

With the rise of AI, insurers have started to automate more complex and high-risk processes such as property assessment, fraud detection, and claims verification and processing. Similarly, augmented reality is becoming a viable option for marketing and training processes. Companies are now able to directly communicate with customers and bring services to their fingertips through mobile apps. Further, insurance distribution is being redefined by new channels and tools such as chatbots to increase sales and provide superior customer service. These technological advancements have created new opportunities and leading insurance solution providers are developing novel technologies that complement the evolving landscape.

To help insurance companies deploy the solutions suited for their operations, a distinguished panel comprising CEOs, CIOs, analysts and the CIOReview editorial board has evaluated firms with a proven record in successfully assisting enterprises with robust insurance solutions. The companies featured here fulfill the need for cost-effective and flexible solutions that add value to the complex insurance landscape.

In this edition of CIOReview, we present to you 20 Most Promising Insurance Technology Solution Providers 2017.

Company Name

Company Description

Acceptiv Specializes in enabling insurers reach the under-served middle market and to effectively sell life and critical illness products online or through omni-channel distribution
Aligned Business Provides an agile, future-proof insurance product development platform that boosts the speed-to-market immensely, taking cost constraints for each insurance product to market out of the system investment equation
Assurant Shipping Insurance Assurant’s acquisition of Shipsurance offers lower rate shipping insurance with proprietary, simple to use technology
Benovate Offers an innovative platform that enables employers, providers, insurers, and communities to proactively manage health risk and drive engagement
BriteCore Offering the best-in-value API-based insurance industry software with full integration and support
Carpe Data Provides next generation predictive scoring and data products to P&C and life insurance companies
CHSI Technologies Arming small insurers with fast, affordable, integrated, and webbased insurance management solutions
Cloverleaf Analytics Provides an end-to-end insurance BI solution that gives customers access to real-time analytics to discover trends and insights
Guidewire Delivers the software that P/C insurers need to adapt and succeed in a time of rapid industry change, and to ensure that every customer succeeds in the journey
in2vate Helping organizations simplify their risk management, education, and compliance programs
Pagos Provides SpreadsheetWEB that enables insurance companies to create, maintain, and manage complex, enterprise-level, web-based applications
Patriot Technology Solutions Provider of customer-driven insurance solutions, a core insurance suite, professional and consulting services for the property and casualty insurance industry
SE2 Delivers purpose-built end-to-end service optimization solutions for life and annuity insurance carriers leveraging innovative technology platform
Semantify Provides knowledge based analytics solution by integrating AI, advanced analytics, natural language, and machine learning for big data discovery and analytics
SISTRAN A provider of software solutions and services for the insurance industry
Sky Insurance Technologies Provides proprietary products to improve the efficiency and performance of back-office processes for insurance professionals
Smart Communications Smart Communications helps the world’s largest enterprises simplify their customer and business communications—while making those communications do even more
VersiTrax Provides solutions that are innovative, accurate, reliable, and secure to simplify the compliance and risk mitigation needs of organizations
Veruna Enabling independent insurance agents to grow their business by changing the way they do work
VIPR Solutions Delivers a modern, comprehensive suite of dedicated software solutions that provide end-to-end management for the insurance market