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26th October, 2021

The fourth annual InsurTech100 list includes 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, as their new InsurTech100 list for 2021 is launched today.

The InsurTech (insurance technology) sector has experienced huge growth in recent years as shifting customer landscape and increased use of digital channels due to COVID-19 has necessitated innovation within the insurance industry. As a result, the global InsurTech market is projected to grow at CAGR of 34.4% and be worth $119.4bn by 2027 according to figures published by Valuates Reports, a market research company.

As a result, 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 long list of over 1,400 companies produced by FinTech Global. The finalists were recognised for their innovative use of technology to solve a significant industry problem, or to generate efficiency improvements across the insurance value chain.

Novidea Ben PottsBen Potts, UK Managing Director of Novidea said: "We are delighted to be included, once again, in FinTech Global's InsurTech100 list. This is a great recognition of the impact Novidea is making in the market, as the global provider of the ‘born-in-the-cloud’ insurance platform that enables brokers, agents, and MGAs to manage and drive growth across the entire distribution lifecycle."

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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 over time. 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.”

A full list of the InsurTech100 and detailed information about each company is available to download for free at www.TheInsurTech100.com

 

 

About Insurtech100

The INSURTECH100 is an annual list of 100 of the world’s most innovative InsurTech companies selected by a panel of industry experts and analysts. These are the companies every leader in the insurance industry needs to know about as they consider and develop their digital transformation strategies.

The list has been updated for 2021 to recognise the next generation of solution providers shaping the future of the insurance industry. The list aims to help senior management and insurance professionals evaluate which digital insurance models have market potential and are most likely to succeed and have a lasting impact on the industry.


About Novidea

Novidea is a global provider of a leading data-driven insurance platform that enables brokers, agents, and MGAs to manage the customer journey, end-to-end, and drive growth across the entire distribution lifecycle.


The Novidea platform, built to leverage the power of Salesforce’s Big Technology, provides a complete ecosystem that covers every aspect of an insurance business, including a 360-degree view of all management information, an integrated front- and back-office, and automated workflows that streamline every phase of the customer journey.


Using cloud-based technology, brokers, and MGAs have instant access to all customer data, with actionable intelligence, from any device, anywhere. This enables them to make better-informed decisions and deliver greater customer value as true risk consultants through products and services tailored to individual needs. Novidea supports more than 90+ customers, including agents, brokers, MGAs, and the London market, managing more than 20 million policies across 17 countries, worldwide.

For more information: www.novideasoft.com

 

For further information contact

Simon Hayes, M.D.

NextGen Communications

simon@nextgencomms.com

M: +44 (0)7771 516544

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