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.