The insurance industry represents a huge opportunity for innovation, and is another area which is ripe for disruption from new competitors. With recent research from CB Insights showing that since 2010 there has been rapid investor growth into insurance tech, with funding into the insurance tech companies hitting an all-time high in quarter two this year.
Last week, Lloyd’s, the leading specialist insurance market, hosted a seminar to explore the benefits that technology can bring to the insurance sector, and according to the CB Insights paper, insurance incumbents are failing to create compelling digital experiences for consumers and falls significantly behind personal banking in consumer satisfaction with online experience.
In light of recent developments, bobsguide has listed some insurance tech companies that are raising the bar in the sector and are proving themselves to be ones to watch below.
Philadelphia-based Livegenic won an award for leading insurance disruptor from Accord earlier this month. Their real-time guidance for claims product is a video platform for insurance, which gives much of the control over the insurance claim adjustment process to the claimant by enabling live video, claimant-provided photographs and audio.