Top 20 Insurance Technology Companies - 2018
Sustained economic growth, rising interest rates, and higher investment income are among the positive factors that appear to be bolstering insurer results in 2018, setting the stage for enhanced top- and bottom-line growth in the year ahead. The US property and casualty (P&C) side of the business got off to a particularly good start in the first half, with net income more than doubling compared to 2017. In the P&C sector, US premiums written grew 4.6 percent in 2017, the highest percentage in the past decade, before jumping by 12.7 percent in the first half of 2018.
However, the outlook for annuities appears to be a lot brighter, thanks primarily to rising interest rates and increased disposable income. Total US annuity sales are forecasted to rise between 5 and 10 percent for 2018—and gain another 5 percent next year. While improving economic conditions this year may have brightened the short-term outlook for insurers in 2019, for many insurers, a rising tide won’t necessarily lift all boats equally. There are still plenty of challenges to overcome in the year ahead, as well as opportunities to improve a carrier’s competitive position and bottom line.
To help CIOs navigate through the list of Insurance Technology solution providers, our distinguished selection panel, comprising CEOs, CIOs, CFOs, industry analysts and the editorial board of CIOReview narrowed the 20 Most Promising Insurance Technology Solution Providers that exhibit competence in delivering competent comprehensive insurance technology innovations.
We present to you CIOReview’s 20 Most Promising Insurance Technology Solution Providers - 2018.
|Cape Analytics||Providing the firms that protect and finance our homes and businesses with actionable information|
|CyberCube||The CyberCube platform was established in 2015 by Symantec to apply the cyber security company’s unique sources of data, intelligence and expertise to cyber insurance analytics|
|DataRobot||DataRobot offers an automated machine learning platform for data scientists of all skill levels to build and deploy accurate machine learning models in a fraction of the time|
|Denim||Denim is making marketing personal, at scale. Designed with today’s mobile and social consumers in mind, Denim’s patent-pending, data-driven platform saves time and money by enabling marketing teams to create and manage micro-targeted mobile and social media ad campaigns on behalf of local representatives|
|Ebix||Ebix is a leading international supplier of on-demand infrastructure exchanges to the insurance, financial, and healthcare industries|
|EIS Group||The digital insurance platform built to move carriers closer to their customers|
|Fadata Group||Offers advanced integrated digital platform to insurance companies to connect faster and effectively with their customers|
|FastTrack Disability Risk Management Solutions & Services||FastTrack Disability Risk Management Solutions & Services offers technological solutions, powered by robotics that enables claims organizations to efficiently and consistently make claim benefit determinations in a way that is repeatable and defensible|
|Groundspeed||Focusing on the property and casualty insurance industry, serving insurance brokers, carriers and managing general agents (MGAs)|
|Insurance Systems||Insurance Systems Inc. (ISI) is 100% dedicated to providing software solutions to the P&C insurance industry|
|Insurance Technology Services||ITS is an insurance consulting and services firm specializing in the design, implementation, and utilization of technology to optimize critical business processes and achieve exceptional results|
|Intelledox||The Intelledox platform is used by many of the world’s leading enterprise and government organizations to transform outdated forms and processes into intelligent, customer-centric experiences|
|LIDP||Develops and delivers innovative, proven software solutions and related services to the life, health, and annuity insurance markets|
|NIIT Technologies||More than 25 million policies transformed, USD 100 billion premium payments written by clients, and 5X savings delivered through legacy modernization for over 50 active Insurers|
|Planck Resolution||AI-based data platform for commercial insurance, that given any business name & address, provides relevant underwriting insights in real-time|
|Risk Based Security||Provides detailed information and analysis on data breaches and vulnerability intelligence|
|SE2||Offers an end-to-end digital transformation solution, helping clients launch products rapidly, improve efficiencies, save cost, and maximize profits while dramatically improving the customer experience|
|VUE Software||VUE Software offers configurable solutions to meet the unique needs of the life and annuity, health, and property & casualty markets|
|Wiztek Solutions||Delivers reliable, high-performance, cost-effective business process applications using its proven proprietary platform and development processes|
|XDimensional Technologies||Provides insurance processing and distribution solutions through a scalable platform to agents, brokers, wholesalers, MGAs, carriers, and policy holders|