SAN FRANCISCO, Dec. 14, 2021 (GLOBE NEWSWIRE) — U+, a leading global digital innovation company, announces the release of its list of Top InsurTech Innovators to Watch. Companies included were selected from the full insurance coverage gamut, ranging from life, pet and parametric to home and auto insurance providers, using technology to add products and improve service to customers from around the world.
“The use of smart technologies in insurance is taking off, with a growing number of insurance companies making strategic investments in digital innovation,” said U+ Founder and CEO Jan Beránek. “The innovative, insurance-focused startups on this list are guided by progressive leadership, and they are liberating insurers from the constraints of plodding legacy systems that don’t meet the demands of current consumer expectations.”
There are insurance providers for most areas of life that pose risks, but those with customer experience at the forefront are seeking to reduce customer costs and application time, while providing more tailored customer experiences. The companies highlighted in the Top InsurTech Innovators to Watch list are classified as insurtech startups because they focus on efficiency and cost savings.
According to a Reuters report, investment in insurtech start-ups worldwide totalled $10.5 billion in the first nine months of 2021. The third quarter investment totalled $3.1 billion, which is an increase of 23% compared with the third quarter of 2020.
InsurTech innovators to watch include:
Pula, Switzerland – An agricultural insurance provider using technology and parametric insurance to serve a previously uninsured market of 1.5 billion smallholders worldwide, primarily in Africa and Asia. The award-winning company uses insurance and digital products to support farmers with managing climate risks directly impacting farms, livestock and crops.
Lemonade, U.S. – A licensed insurance carrier utilizing an artificial intelligence (AI) bot to assist customers with policies for renters, homeowners, car, pet and term life insurance in the United States; the company also offers liability and contents insurance to customers in France, the Netherlands and Germany. Rather than waiting days or weeks for a claim to be approved, Lemonade’s AI has the ability to process and approve claims instantly, all while reducing costs.
To see U+’s complete list of Top InsurTech Innovators to Watch, please visit https://innovate.u.plus/insurtech-watchlist-.
U+ selected its 2021 Top InsurTech Innovators after extensive market research, leveraging databases including CB Insights and Crunchbase. The digital innovation company also considered such factors as number of customers and amount and date of funds raised.
U+ is a leading global digital innovation company, specializing in corporate research and development, building and launching corporate and startup innovations, and the transformation of Fortune 1000 companies’ digital ideas into real products. During the past 12 years, U+ has successfully turned more than 90 ideas into reality with total valuation exceeding $1B in Fintech, Energy, Telco, Automotive and E-health, including Swiss Re, AXA Insurance, Société Générale and other companies within the Insurance industry. For more information, please visit https://u.plus/.
Leah R. H. Robinson
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