Insuranceciooutlook
Claim Central Consolidated: Insurance Claims Made Easy

Top 10 Insurtech Companies in APAC - 2018

Insurers are transforming their legacy operations to reduce their current costs while building new capabilities to support digital imperatives to stay competitive, while enhancing operational efficiency, and productivity. The insurance industry is gradually opening its doors wider to the application of technology which is resulting in a transformational effect on the industry's work providing new solutions for insurers toward lower insurance rates, fraud prevention, billing efficiency, lower underwriting cost along with specialized insurance. For instance, harnessing big data facilitates the analysis of hordes of information about prospective risk generated in the insurance industry. This can potentially move risk selection from underwriting to marketing while similarly improving customer profiling and claims analysis.

New tech-savvy InsurTech entrants to the industry are focusing on technologies—such as artificial intelligence, Internet of Things (IoT), robotics, and blockchain—and redefining how insurance is done, and reshaping the economics of the industry. These InsurTech solution providers bring innovative ideas to the industry fuelling the development of pragmatic solutions that benefit the industry. Google's entry into the UK market in 2011, as an insurance aggregator, proved disruptive for the competitive market conditions and even influenced the insurance premiums. Besides, other companies such as retailers, telecom companies, and even car manufacturers are leveraging insurance technology and entering the insurance industry. Catering to the needs of the digitally transforming insurance landscape, InsurTech players help insurers become more customer-centric, agile, and efficient, alongside advancing insurers in the realms of data analytics as the industry evolves from just pricing and pooling risks to truly managing individual risks.

A distinguished selection panel comprising CEOs, CIOs, VCs, and the magazine’s editorial board has selected a list of the top InsurTech APAC solution providers that leverage innovative technologies and strategies to enhance solutions for the benefit of today's insurance industry. This edition of Insurance CIO Outlook features companies with expertise in insurance technology to update you about the best insurance measures you can choose from to grow revenues with enhanced customer experience, attract new customers, earn stronger customer loyalty, and boost lifetime values.

We present to you Insurance CIO Outlook’s "Top 10 InsurTech Companies in APAC - 2018."

Top APAC Companies

Offers claims management services, insurance technology, and data analytics to simplify the claims process along with reducing operational cost and lifecycle of a claim

claimcentral.com.au

Delivers AI predictive analytics solutions specially designed for enterprise value creation to assist organizations in their business

davincilabs.ai

Coherent Asia, Limited

Coherent Asia, Limited

Builds insurance risk analytics and reporting software for preparing asset & liability risk committees in large multinational insurers to effectively manage risks and allocate capital

CompareAsiaGroup

CompareAsiaGroup

Provides online comparison platform to save money and make better choices about personal finance with tools for insurance, credit cards, and other financial products

Earnix

Earnix

Provides advanced analytics solutions designed for the financial services industry, which deliver significant results by integrating data-driven decision-making into the business process

eBaoTech Corporation

eBaoTech Corporation

Leverages API cloud enabled connected insurance solutions and services for the evolving digital insurance industry

OneShield, Inc.

OneShield, Inc.

Delivers core business software solutions including billing, claims, rating technology and business analytics for mid to large sized P&C, life and health insurers to streamline their business

Sapiens International Corporation [NASDAQ:SPNS & TASE:SPNS]

Sapiens International Corporation [NASDAQ:SPNS & TASE:SPNS]

Provides software solutions for the insurance industry with core, end-to-end solutions to the global general insurance, property and casualty, life, pension and annuities, reinsurance and retirement markets

Stark Group

Stark Group

Designs, develops, and maintains insurance products and services to change the industry with innovation, creativity , distribution, and connectivity

The CareVoice

The CareVoice

Offers unique mobile-based and data-driven solutions that digitalize healthcare and insurance journey with consumers’ interest first