The insurance industry is undergoing a digital transformation, and the latest InsurTech100 list by FinTech Global celebrates the companies leading the way. The list recognises firms that are not only addressing the industry’s most pressing challenges but are also reshaping how insurers operate and engage with their customers through cutting-edge technology.

According to Precedence Research, the InsurTech sector is showing strong year-on-year growth, with the sector’s market size growing from $18.71bn in 2023 to $25.97bn in 2024. The long-term growth potential of the sector is also providing hopeful reading for investors and industry stakeholders. The same research found that by 2033, the market is set to grow to a size of $496.56bn, a whopping 38.8% CAGR growth rate over the nine-year period.

To compile the InsurTech100 list, a panel of seasoned analysts and industry veterans meticulously reviewed over 2,100 nominations presented by FinTech Global and its sister publication InsurTech Analyst. Each nominee was assessed on its ability to leverage technology to either tackle a significant industry obstacle or enhance efficiency across the insurance value chain, with only the most innovative and impactful companies making the final cut.

The InsurTech100 finalists encompass the sector’s finest trailblazers, and many of the companies featured in the latest list have hit recent headlines over the last 12 months in a variety of sub-sectors, including underwriting, claims, cyber risk, and customer engagement.

Agentero and AgentSync received plaudits for modernising insurance infrastructure by connecting agents, carriers, and producers through digital networks. Companjon has also received wide acclaim over the last year for its AI-driven embedded insurance solutions, offering flexible, dynamic, and seamless B2B2C experiences. Five Sigma is revolutionising claims management with its AI-native platform and Clive™, the industry’s first AI claims adjuster.

While on the AI front, GIROUX.ai is enhancing underwriting accuracy and operational efficiency, while Cortical.io is leveraging meaning-based software to automate complex document reviews, improving insurance workflows. Companies like Majesco and Nanoinsure received their spot on the list for their work to empower insurers to innovate with cloud-native and intelligent software solutions, while Peak3 is advancing digital transformation in life, health, and P&C insurance.

Hexure (formerly Insurance Technologies) earned its spot for offering digital solutions that optimise sales processes and enhance efficiency throughout the entire insurance lifecycle, helping insurers streamline operations. Decerto received its flowers for delivering insurance software solutions like Agent Portal and Higson, which serve major insurance companies in Poland and beyond.

The InsurTech100 is a vital resource for insurance executives looking to stay ahead of the curve. The companies that have worked their way onto the list are driving real innovation and providing the tools insurers need to navigate the complexities of digital transformation in this dynamic marketplace. As industry leaders refine their digital transformation strategies, these companies are playing a pivotal role in shaping the future of insurance.

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Source: FinTech Global’s InsurTech100 celebrates the industry’s leading innovators