November 24, 2016
The young, but extremely vibrant history of InsurTech proves it to be one of the most electric industries to follow in 2017 and beyond. An ever-expanding list of outstanding InsurTech startups is already shaking up the $4.5-trillion-dollar industry by leveraging technological capabilities. The use of disruptive technologies like big data, Internet of Things (IoT), mobile technology, AI, social network and blockchain are gaining momentum and InsurTech firms are looking for a scope to capitalize it.
The rapid growth of InsurTech startups, interest from VC firms and the corporate world served as a sign that the ecosystem has a tremendous potential and requires action to leverage those opportunities. In response to the flourishing startup environment, opportunistic minds have built InsurTech-focused accelerators to nourish the next big idea and the next Uber of insurance.
Meanwhile, hundreds of InsurTech startups around the world prove that the insurance industry cannot move forward without complete revamp of traditional models of delivering insurance products. In various ways, the startup community is reimagining insurance, bringing advanced technologies to the biggest industries around the world.
The following list of 101 InsurTech companies is certainly not exhaustive but contains some of the most interesting examples of forward-thinking insurance solutions providers that target various members of the industry with tech-powered offerings.
Accuscore (former Acculitx) provides world-class expertise for identification of driver risk to the fleet safety.
Allay enables companies to work with the broker of their choice to do online, paperless health insurance purchasing and full HR and benefits administration. Companies can ensure compliance with local and federal employment laws, have all their benefits plans in one place, and help employees understand their benefits and self-manage their HR information – everything online.
American Well offers software, services, and access to clinical services – everything one needs to offer a complete telehealth service – whether it's a health plan, an employer, or a delivery network. The company’s mobile and web service connects doctors with patients for live, on-demand video visits over the internet and handles all the administration, security, and record keeping that modern healthcare requires.
Amodo provides a state-of-the-art customer behavior analytics and usage-based insurance platform. Amodo is a post-revenue company which has achieved a very steady and rapid growth since the very founding date (end of March 2013). With Amodo’s technology, insurers leverage on digital channels and connected devices such as smartphones, connected cars and wearables to acquire and engage new customers.
Analyze Re’s PRIME.RE platform offers advanced reinsurance technology to unlock new ways of risk pricing and optimization.
AppSichern offers insurance protection for short periods – for example for sporting events, business trips or children’s school trips.
Array Health is a leading provider of private insurance exchange technology. Its cloud-based software platform enables health plans of any size to power their own branded online exchanges – a strategic channel that helps them compete and thrive in the post-health-reform world.