Aventus, the customer-centric insurtech platform enabling insurers and brokers to distribute insurance products via APIs through any channel, is delighted to be recognised in this year’s Insurtech 100 list released today.
The list is compiled by specialist research firm FinTech Global and identifies the world’s most innovative solution providers addressing the digital transformation challenges and opportunities within insurance. According to FinTech Global, the selection process was exceptionally competitive this year as over 1,200 innovative Insurtech companies were evaluated by an independent panel of analysts and industry experts to produce the Insurtech 100.
The finalists are recognised for innovative use of technology to solve a significant industry problem, to generate cost savings and efficiency improvements across the insurance value chain.
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.
Peter Goodman, CEO & Founder of Aventus, comments: “We’re incredibly proud to have been selected for this year’s Insurtech 100 list. From our launch in February this year, we have moved quickly and taken the market by storm. We already have customers in the UK, US and Australia.
“Insurance customer experience is fractured and out of date. Insurers, MGAs, and Schemes Specialist Brokers currently don’t have a clear customer view. Data silos and disparate systems breed inefficiency, stifle growth and prevent them from delivering customers a seamless buying experience. The market is now seeing how our technology is giving them an affordable route to developing their own ecosystem, making data work for them to delight their customers, and enabling upsell and cross-sell.”
The Aventus platform enables real-time analytics, taking customer data, third party and the insurer’s data, to give a 360° customer view. For example, the Aventus APIs create marketing triggers to the distributor and the provider, so they can return a quote estimate in real-time, tailored for the individual. The Aventus platform makes cross and up-selling easy and one-click insurance purchases a reality.
Peter Goodman continues: “As an API led Insurtech we are challenging and reimagining the insurance proposition. Over 50 integrations are already available with our platform. Our success so far in the UK, together with our cornerstone customer Stella in Australia, and the US, is evidence that the market has finally turned. Those insurance companies yet to modernise will be left behind.”
FinTech Global director Richard Sachar said: “Established insurance companies need to be aware of the latest innovation in the market 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.”
A full list of the InsurTech100 can be found at www.TheInsurTech100.com. More detailed information about the companies is available to download for free on the website.