Relay Platform recognized for the second consecutive year as one of world’s most innovative technology solution providers that address the digital transformation challenges in insurance.
The InsurTech (insurance technology) sector has experienced explosive growth in the last two years as the huge increase in the use of digital channels and the level of customer expectations due to COVID-19 restrictions has accelerated the need for innovation. On the current trajectory, the global InsurTech market is projected to reach $100bn within the next five years.
This year’s process to identify the 100 InsurTech innovation leaders was more competitive than ever. A panel of analysts and industry experts voted from a longlist of over 1,400 companies produced by FinTech Global, a specialist research firm. The finalists were recognized for their innovative use of technology to solve a significant industry problem, enhance the customer experience or generate efficiency improvements across the insurance value chain.
FinTech Global director Richard Sachar said, “Consumers and businesses increasingly expect insurance cover to be offered via a range of digital and offline channels, and insurers that fail to keep up with the latest technologies and innovation will be less competitive and lose market share. The InsurTech100 list helps senior decision-makers in the industry filter through all the vendors in the market by highlighting the leading companies in sectors such as underwriting, pricing, IoT devices, distribution and data & analytics.”
Check out page 19 for an ad describing our placement and proposal automation functions, and pages 83-85 for a detailed profile, interview and use case with INSUREtrust.