Groundspeed: Boosting Insurance Risk Assessment With Consolidated Analytics

Top 10 Insurtech Startups Companies - 2022

Insurance companies are using satellites, drones, and real-time data to give consumers more user-friendly policies. Telematics is also starting to see broader acceptance from automobile insurers to record the driving patterns and behavior of an individual and offer suitable auto insurance plans. AI is being used by a few insurers for pre-inspection of motor insurance.

Likewise, automated solutions within predefined parameters are accelerating policy purchases and claims processing, in a matter of minutes, driving consumer experience. In light of these technology trends, the insurtech market is expected to reach a net worth of $165 billion in the next five years.

To put the spotlight on such key developments in the industry, Insurance CIO Outlook illustrates how insurance companies are leveraging the latest developments to enhance performance and exceed consumer expectations. This edition also features a thought leadership article authored by Nick Bendell, Venture Capital Senior Associate at MTech Capital. He sheds light on how cloud-based microservices architecture with APIs passes data across systems, enabling insurers to cater to more service requests.

In this edition of Insurance CIO Outlook magazine, we also bring to you the story of some of the emerging insurtech startup companies that deliver the best outcomes for their clients. Dark Matter Insurtech stands out in the list for facilitating data exchange and distribution between an AMS and different specialty carriers’ portals by running as an interface engine and connectivity platform. Additionally, other innovative insurtech startups like Groundspeed are also pushing the limits of insurance technology through its AI-driven Data Pipeline platform, which automatically captures relevant inbound submission data, extracts insights, and structures the information to transform the submission, rating, and underwriting of policies.

Through the following pages, we aim to shine a light on the innovative trends and latest developments in the insurtech startup space. We would like to know your thoughts.

    Top Insurtech Startups Companies

  • Groundspeed Analytics is a leading SaaS-delivered submission and placement technology provider to the commercial Property & Casualty industry. Groundspeed automatically extracts data from loss runs, exposure schedules, and other documents and enriches submission data with the industry's largest contributed dataset, giving underwriters additional insight on even the most complex risks in just hours, not days or weeks. Groundspeed is trusted by market-leading insurance carriers and has helped their clients improve quote-to-bind ratios, improve loss ratios, cut operating expenses, and so much more! Unlock the value in your unstructured data by partnering with Groundspeed.

  • Dark Matter InsurTech, LLC was founded to focus on the Excess & Surplus Lines market distribution strategy. For the MGA, Wholesaler, MGU, and Program Administrator, the firm helps to allow digital distribution, expedite operations, minimize keystrokes, and enhance data with its flagship platform, dmConnect.

  • C3 Risk & Insurance Services

    C3 Risk & Insurance Services

    C3 Risk & Insurance Services brings color to the insurance industry to prevent the unexpected and provide a fresh perspective to risk mitigation. C3 creates peer business relationships in order to help insureds prevent unexpected loss.

  • Damco Solutions

    Damco Solutions

    Damco Solutions is the trusted technology partner of businesses worldwide enabling them to leverage IT as a strategic asset. Empowered by technology expertise, immaculate execution capabilities, and unwavering focus on the customer needs, Damco was able to nurture success in multiple technologies and verticals.

  • DigitalOwl


    DigitalOwl's mission is to harness the use of Natural Language Processing to provide a faster, more efficient process of reviewing medical records for all parties. Through its state-of-the-art technology, easy-to-use navigation, and knowledgeable staff, DigitalOwl is revolutionizing the way medical records are reviewed.

  • Insurance Technology Services

    Insurance Technology Services

    Insurance Technology Services (ITS) is an insurance consulting and services firm with practices for Property & Casualty, Life & Health, Data Services and Training and Development. ITS provides implementation support (including project management, business analysis, testing and data conversion), process improvements (including PMO establishment, QA and production support), and change management (including training, organizational change and BPR).

  • Oscar Insurance

    Oscar Insurance

    Oscar is the first health insurance company built around a full stack technology platform and a relentless focus on serving members. Oscar was founded to provide consumers with access to the affordable, high-quality health care they deserve.

  • Pendella Technologies

    Pendella Technologies

    Pendella is a fast-growing startup technology company bringing decades of insurance expertise, innovation, and intelligent business design to fulfill one purpose: to bring the financial protection of individual life and disability insurance to all people, regardless of age, health status, or income level.

  • Pinpoint Predictive

    Pinpoint Predictive

    Pinpoint provides AI-based human behaviour intelligence software. Pinpoint's turnkey platform allow insurers to compliantly leverage unmatched risk selection at the very beginning of the customer journey.

  • Wagmo


    Wagmo is a tech-first pet wellness company built with new pet parents in mind. Wagmo's wellness and insurance plans empower pet parents to get the care they need for their pets when they need it the most. Wagmo alleviates the financial stress of routine and emergency pet care from grooming to essential maintenance, cancer treatments, and emergencies without having to compromise.