The new InsurTech100 list for 2021 was launched on 26th of October. The prestigious ranking recognizes the world’s most innovative technology solution providers that address the digital transformation challenges in insurance.
The InsurTech (insurance technology) sector has experienced huge growth in recent years as shifting customer landscape and increased use of digital channels due to COVID-19 has necessitated innovation within the insurance industry. As a result, the global InsurTech market is projected to grow at CAGR of 34.4% and be worth $119.4bn by 2027 according to figures published by Valuates Reports, a market research company.
As a result, this year’s process to identify the 100 InsurTech innovation leaders was more competitive than ever. A panel of analysts and industry experts voted from a longlist of over 1,400 companies produced by FinTech Global. The finalists were recognized for their innovative use of technology to solve a significant industry problem, or to generate efficiency improvements across the insurance value chain.
FinTech Global director Richard Sachar said, “Consumers and businesses increasingly expect insurance cover to be offered via a range of digital and offline channels, and insurers that fail to keep up with the latest technologies and innovation will be less competitive and lose market share over time. The InsurTech100 list helps senior decision-makers in the industry filter through all the vendors in the market by highlighting the leading companies in sectors such as underwriting, pricing, IoT devices, distribution and data & analytics.”
In AppMan, we are proud to be acknowledged as a leading provider of technology solutions for the insurance industry. We help companies move towards a more digital ecosystem and grant not only the resources to complete a full roadmap but also the connections and integrations with peers. With our technologies we help insurers brokers, banks and more insurance related partners to stay up to date and capable of embracing digital ecosystems.
A full list of the InsurTech100 and detailed information about each company is available to download for free at www.TheInsurTech100.com.