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Novidea selected for Global InsurTech100

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Third annual InsurTech100 list announces Novidea in the tech companies transforming the global insurance industry

Specialist research firm FinTech Global has announced the world’s most innovative solution providers addressing the digital transformation challenges and opportunities within insurance.

The InsurTech (insurance technology) industry has grown tremendously over the last three years as insurance companies grapple with the challenges of digital transformation, and more recently, remote communication post Covid-19. Nearly $17bn has been invested in InsurTech companies since the beginning of 2017, according to figures published by FinTech Global.

As a result, this year’s process to identify the leading 100 companies in the InsurTech space was more competitive than ever. A panel of analysts and industry experts voted from a longlist of over 1,200 companies produced by FinTech Global and the finalists were recognized for their innovative use of technology to solve a significant industry problem, or to generate cost savings or efficiency improvements across the insurance value chain.

FinTech Global director Richard Sachar said, “Established insurance companies need to be aware of the latest innovation in the market in order to remain competitive in the market post Covid-19 which is heavily focused on digital distribution and increased use of customer data.

“The InsurTech100 list helps senior management filter through all the vendors in the market by highlighting the leading companies in sectors such as underwriting, pricing, IoT devices, customer experience and data & analytics,” he added.