10 Risk Analytics Tech Companies That Are Powering the Insurance Industry

Continuing the haul over InsuranceTech companies (car insurance, health insurance, life insurance), we couldn’t have missed an opportunity to look at an emerging segment within InsuranceTech – analytical software for risks prediction. Insurance and risk analysis are closely related fields as an insurance choice is based on the estimation of risk. As InsuranceTech gains momentum, data-backed predictions on risks are becoming more relevant for efficient insurance estimation.

QuanTemplate is a revolutionary marketplace, communications and enterprise workflow technology that offers a secure Web-based platform for trading risk, regulatory reporting and creating financial models for use across the (re)insurance market. Through QuanTemplate, underwriters and brokers can conduct all operational activities required to trade in the insurance market while optimizing their risk in real time, all the time.

Tyche helps stakeholders in legal claims estimate the value of those claims.

Analyze Re's PRIME.RE platform offers advanced reinsurance technology to unlock new ways of risk pricing and optimization.

Zipari’s customer experience platform provides deep analytics and real-time recommendations to optimize consumer experience and improve customer satisfaction in the healthcare industry. The platform integrates with major CRM solutions providing industry-specific workflow management for healthcare companies to improve customer acquisition and retention.

Praedicat is dedicated to improving the underwriting and management of liability catastrophe risk. The company’s patent-pending technology delivers information extracted from scientific literature on emerging risk. Praedicat’s team analyzes the risk with a structured approach incorporating applied legal reasoning and economics.

Dynamis Software Corporation provides CDHC plan optimization tools for health insurance brokers. It offers the Dynamic Plan Designer, which allows brokers to interactively evaluate plan options with employers.

InforcePRO specializes in aggregating life policy data, contract performance information, and live market quotes, to monitor and mine hundreds of thousands of in-force (existing) policies for insurers, banks and agencies. "Orphan" policies need to be captured from in-force data downloads and prioritized for action to both reduce compliance headaches and generate new business.

FirstBest Systems, Inc. provides software solutions for property and casualty insurers. It offers solutions that include underwriting workstations, agent portals, agency connectivity and new business systems.

Shift Technology leverages the data science to automatically detect networks of fraudsters in insurance and e-commerce. The solution is integrated into the big data platform and is provided in a SaaS model.

miEdge provides insurance producers with a powerful system of insurance lead generation.