Top 20 Insurance Tech Solution Companies - 2021
It is imperative to put the customer journey at the centre of any insurance-focused digital transformation program. More and more insurers are taking an agile approach to lifecycle design, identifying pain points and attempting to eliminate them using technology. Consumers today expect real-time interaction and online access to services that are handled consistently from their mobile devices. This means that insurers must embrace the transition from paper-based operations to new, fully digital ecosystems, with just a few exceptions requiring manual intervention.
Many insurance companies are already utilizing artificial intelligence (AI) in their operations or plan to do so in the near future. It's simple to understand why. AI can help with insurance policy distribution, for example, using chatbots to sell policies directly to customers or identifying coverage gaps, underwriting, and claims assessment, among other things.
Organizations now realize that they can't and shouldn't try to handle everything themselves due to financial and operational risk. A partnership is a preferable alternative in some cases. Insurtechs (insurance-focused tech businesses) are transforming the insurance landscape by establishing new ways of pricing, generating, distributing, and servicing policies. Engaging with insurtechs is a feasible method to tackle and close the innovation gap because developing new solutions involves time, money, and management effort.
At this juncture, various Insurance Tech Solution Providers are entering the market to cater to the different needs of enterprises. To help them choose the solution that best fits their requirement, CIOReview has compiled a list of top insurance tech solution providers. Besides, the magazine also comprises insights from thought leaders on industry trends, best practices, recent innovations, and their advice for aspiring CIOs.
We present to you CIOReview’s “20 Most Promising Insurance Tech Solution Providers - 2021”.