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Pendella: Making Individual Life and Disability Insurance Mainstream Again

Top 10 InsurTech Startups - 2021

In recent times, InsurTech has gradually become a powerful driver of change in the insurance industry. Against the backdrop of the global pandemic and volatile economy, insurance businesses are readily harnessing the benefits of InsurTech. Companies are leveraging innovative technologies such as AI, big data, IoT, and more to meet the expectations of next-gen customers and thrive in the market. With the increasing need for digitization of insurance services and simplifying the claims processes, insurance companies are focusing on improving communication with their customers and implementing automation processes.

Several InsurTech companies are focusing on leveraging deep learning competent artificial intelligence (AI) and data analytics to efficiently handle agents’ tasks and find the accurate mix of policies to complete an individual’s coverage. All in all, InsurTech companies are radically transforming the insurance industry by driving innovations, and insurance businesses will likely see more advancements in the coming future.

As such, the technological progressions in the arena are opening up a universe of new possibilities for InsurTech companies. This implies that firms looking for robust InsurTech solutions have to choose from a plethora of options.

To make this task easier and assist industry leaders in identifying the right companies providing InsurTech solutions, Insurance CIO Outlook presents to you “Top 10 InsurTech Startups - 2021.” A distinguished panel comprising CEOs, CIOs, VCs, Analysts, and the Insurance CIO Outlook editorial board has selected the top InsurTech companies. In our selection process, we looked at the company’s offerings, core competency, news/ press releases, client testimonials, milestones, and other recognition.

    Top InsurTech Startups

  • C3 Risk & Insurance Services (C3) is a leading San Diego-based specialty insurance brokerage. C3 handles all lines of insurance, including advance planning and life insurance, workers compensation, general liability, professional liability, and more. Besides, the company provides insurance around specialty divisions, including construction and surety, transportation, manufacturing, real estate, life science and financial services —with an exclusive focus on the fast-paced and high-risk life sciences industry. The company has developed its two proprietary technologies—C3 Profile and C3 The Answer—the first to educate the underwriting community of exposures that each company has and the second to provide real-time accurate loss data to help clients make better decisions

    c3insurance.com

  • The company offers advanced AI-based technology for faster medical records review, enabling clients to attain increased productivity and a competitive edge. DigitalOwl currently works in the US with multiple companies to help them get through the mind-numbing hassle of manual underwriting and claims analysis. The company’s technology solution extracts over 17,000 medical data points from a variety of different conditions, procedures, and medications, including cancer, heart disease, accidents, orthopedic conditions, diabetes, arthritis, hypertension, and brain injuries, with greater than 95 percent accuracy. It is a highly versatile, smart, and dynamic tool that generates a focused data set with multiple filtering options and easy-to-use navigation

    www.digitalowl.com

  • Pendella offers a white-label AI-powered SaaS platform providing instant decision underwriting, accelerated underwriting, and point-of-sale underwriting capabilities. Pendella's end-to-end software and cloud-based agent-assist platform simplifies, modernizes, and digitizes the individual life and disability insurance buying and selling experience. Pendella's AI-enabled insurance recommendation engine leverages self-reported customer information, system data (CRM), and big data to deliver tailored life and disability insurance options for the consumers regardless of age, health, or income level by assessing their personal, professional, and financial data. Simultaneously, Pendella also provides partners with full marketing support to help them launch their customized platform and maximize revenue

    www.pendella.com

  • Personalizing predictive analytics with Pinpoint provides a tremendous opportunity to treat people as true individuals with future potential. At the same time, adding individualized data enrichment increases efficiencies and savings for insurers and the great majority of insureds. Pinpoint has built an extraordinary data-enrichment and analytics platform that uses thousands of behavioral data points per person to model standardized individual personality traits for 260 million US adults. These scores comprise the empirically developed Five-Factor Model and also break down into dozens of more granular statistical sub-facets

    pinpointpredictive.com

  • Salty Dot Insurance Agency streamlines the front-end/back-end of insurance processes that brings transparency and lets customers change ratio of cost-to-value and check pricing of perceived value in real-time. The company’s unique Embedded Insurance® platform is the easiest way to get a custom-built policy right when consumers need it most. It provides a seamless experience driven by artificial intelligence and machine learning. True to its name, Salty speaks of the level of permanency and consistency that it adds to the customer’s value proposition and subsequently transforms the insurance space. As a high-growth insurance technology company, it generates an end-to-end customer experience at the behest of its state-of-the-art embedded insurance approach

    wearesalty.com

  • Lemonade

    Lemonade

    Lemonade reverses the traditional insurance model. It take a flat fee, pay claims super fast, and give back what’s left to causes customers care about

  • Metromile

    Metromile

    Metromile’s team combines the best technologists with veterans from Fortune 500 insurers and financial services giants. Metromileare committed to building a diverse, inclusive and equitable culture at all levels

  • Next Insurance

    Next Insurance

    Next Insurance was created to give various business the coverage it deserves. Simple, affordable and tailored.

  • Snapsheet

    Snapsheet

    Snapsheet Cloud’s SaaS solutions operate as a stand-alone platform for end-to-end claims management or as separate modules—from eFNOL, Appraisals, Payments and more

  • Surround Insurance

    Surround Insurance

    Modern consumers enjoy more options and choices than any other generation in history. The shift from owned assets to shared access gives them the flexibility to work, live, and move on their terms. It also leaves them exposed to an unprecedented level of financial uncertainty