Chosen among thousands of contenders, By Bits, the software-as-a-service insurance platform, has been named No.49 in the Insurtech Insights Future50 Europe – the industry’s definitive ranking of the early stage insurtech startups shaping the insurance landscape in Europe. This award is a culmination of months of work researching and rating the most impressive insurtechs in the industry. Thousands of insurtechs were whittled down to a shortlist of over 300 before the final Future50 were selected by a panel of over 20 C-level judges.
Callum Rimmer, founder and CEO of By Bits, said: “We’re really excited to be included alongside so many brilliant, innovative companies – and congratulations to everybody who featured on the list. This is a great validation of what we’ve achieved over the last 12 months and testament to the skill and hard work of our team and partners.”
Rimmer continued: “What this list reveals more than anything else is the sheer speed and scale of innovation which is happening across the insurance industry. We want to play a major role in helping insurers, and motor insurers in particular, to transform their commercial and operating models in order to meet the rapidly evolving needs and expectations of today’s consumers. Our goal is to help forward-thinking insurers to stop delaying and make that change today, in a sustainable and cost-effective way, in order to drive competitive advantage and set themselves up for the future.”
The By Bits platform enables motor insurance providers to create innovative, personalised services for customers and bring usage-based policies to market in a fast and cost-effective way. In doing so, insurers can meet heightened consumer demand for pay-by-mile insurance products, a trend that has been accentuated during the COVID-19 pandemic, when millions of people have continued to pay the same insurance premium despite doing significantly less driving.
The By Bits Platform has been brought to market by the co-founder of By Miles, the UK’s only pay-by-mile motor insurance product, which itself has won a string of industry innovation and customer services awards.
CLAIM TECHNOLOGY ALSO MAKES THE GRADE
Chosen among thousands of contenders, Claim Technology has been named at number 26 on the Insurtech Insights Future50 Europe listing. This award is a culmination of months of work researching and rating the most impressive insurtechs in the industry. Thousands of insurtechs were whittled down to a shortlist of over 300 before the final Future50 were selected by a panel of over 20 C-level judges.
Future50 is the world’s most credible ranking of up-and-coming insurtechs. See the full Future 50 here.