The winds of change are blowing across the Insurance industry powered by the emergence of modern-day technologies such as AI, Big Data, IOT, and cloud. The industry has witnessed a rise of small and medium players, who leverage the power of these technologies to change the way the industry work. They are bringing in innovative solutions that help insurers to reduce cost, make better assessments, keep up with the compliances, and make informed decisions. Further, these solutions have reduced the gap between the insurers and customers allowing real-time communication through mobile apps, wearable devices, Instant messaging, etc. Insurers have been able to help customers develop behaviors, which will help them to protect their insured asset better, by analyzing real-time data and providing instant feedback. Customers, on the other hand, have been benefitted with perks like lesser premium, faster processing, and overall better consumer experience. There is no denying the fact that the industry is in dire need of a transformation and more and more players are jumping into the bandwagon of advanced technology- from drones to inspect the premises to complex AI system taking over the risk assessment.
To help insurers to make informed decisions about the latest products and solutions they can avail, EV presents a list of ‘EV 20 Innovative Insuretech providers’. Amongst several companies, a panel of experts comprising CEOs, Investors, CTOs, Industry experts, and EV editorial team have worked together to choose top Insuretech providers. These technology companies provide robust and affordable solutions for platform management, marketing, billing, revenue management, and more. We expect that this list will help you understand numerous innovations, solutions, and services in the Insuretech sector.