In the never-ending quest for industries to stay agile and avoid disruption, organizations from all verticals are infusing leading-edge technologies into their existing business models. And the insurance sector is no exception. To create new, tech-driven disciplines and harness the power of premium technologies like AI, big data, and others to meet expectations of next-gen customers, several insurance startups have revamped their way of doing business. For instance, insurance managers are utilizing machine learning algorithms for predictive analytics that helps them to determine pricing and risk selection, triaging and identifying outsider claims, anticipating trends, and many more. Again, to provide personalized customer experiences, insurance companies are resorting to AI that fundamentally changes their underwriting processes. AI also enables insurers to access data faster by cutting out the unnecessary human element. Further, insurance startups are leveraging IoT devices that keep them connected with their customers and give a first-hand information on client policies. These IoT devices also help insurance firms to mitigate risks and alerts of any risks involved.
In the wake of such drastic transitions, we have compiled this issue of Insurance CIO Outlook in order to assist organizations in the task of finding accomplished solution providers and consultancy/service companies to help them navigate the insurance technology realm. In this edition, we have listed the top 10 insurtech startups in 2020 to highlight the enterprises that can escalate the chances of your growth. Equipped with innovative technological capabilities, these enlisted startups are transforming the insurtech paradigm at the cloverleaf of various disruptive technologies. Besides, the magazine comprises insights from subject-matter experts, CIOs, and CXOs in the insurance sector on the latest industry trends, best practices, recent innovations, and highlights their expertise. We hope this issue of Insurance CIO Outlook helps you build the partnership you and your organization need to foster an environment driven by robust and efficient technology.
We present to you Insurance CIO Outlook’s “Top 10 InsurTech Startups - 2020”
