Find new clients. Receive a lead list of hundreds of companies looking to scale their business every month.
SaaS startups have become the darling of Venture Capital investors, especially in the InsurTech industry. Over the past decade, software has proverbially “eaten the world” and SaaS companies have scaled to become unicorn corporations in staggering amounts of time.
In this article, we are examining 12 VC funded SaaS startups in the InsurTech industry.
Akur8 is a creator of an AI-driven insurance pricing platform intended to offer insurance firms AI-powered pricing automation and optimization. With the help of cutting-edge insurance pricing algorithms integrated into the company's platform, insurance carriers can increase their profits and gain market share by building pricing models 10 times faster than with conventional solutions. These models can be created and updated in hours as opposed to months.
The goal of Ease is to customize and modernize the employment experience. collaborating with sector specialists to offer a single, straightforward solution for payroll, benefits, and HR. By providing workers with a single location to access all of their human resources information, Ease makes it simple to set up and administer benefits, onboard new employees, and stay compliant. More than 70,000 companies rely on Ease for online enrollment and HR. The business is situated in San Francisco, California and was established in 2012 by Courtney Guertin and David A. Reid. Ease was recently ranked among the top 100 best employers in America by Forbes, Capterra, and G2 as well as the fifteenth fastest-growing software company for 2020.
Banks and insurance businesses may use EasySend to swiftly transform paper forms and cumbersome PDFs into digital journeys. EasySend is a no-code platform for creating and improving digital customer journeys that is specifically designed to meet the special needs of international financial institutions and insurance providers. Any banking or insurance use case is supported by the EasySend platform with pre-built components, including end-to-end digital mortgage loans, policy renewals, claims, and user onboarding. EasySend's powerful analytics and optimization engine equips its users to fully understand complicated digital workflows, identify churn-causing issues, streamline procedures, and increase income. Its clever eForms seamlessly interact with any third-party service, including out-of-the-box integration with top CRMs like Salesforce and Microsoft Dynamics, as well as legacy and core banking systems. Since its founding in 2016, EasySend has served over forty enterprise customers, including top financial institutions and insurance companies in the US, Germany, DACH, UK, Japan, and Israel. The company's solution has been adopted by over 90% of the Israeli financial and insurance markets and is quickly growing on a global scale.
Leading brands' digital transformation of their customer experiences is being reimagined by FICX. FICX helps contemporary businesses to quickly digitize and automate CX experiences and deploy them wherever they engage customers as a pioneer and industry leader in no-code CX app creation and automation. By reducing friction in sales and service, modern businesses are able to save expenses, increase sales conversion, and maintain pleased consumers. To learn more, go to www.ficx.com. Since its founding in 2012, CallVU has helped top international companies in the banking, insurance, and telecom industries increase the value of their digital assets while enhancing operational effectiveness. Israel, the UK, and the United States are all where CallVU has operations. The business was recognized by Gartner in 2016 as a "Cool Vendor in CRM and Customer Support" and by CIO Magazine in 2017 as one of the "20 Most Promising Digital Experience Solution Providers."
In order to provide quick and intelligent claims processing for the insurance sector, Five Sigma is a cloud-native, data-driven Claims Management Solution (CMS) with inbuilt AI/ML capabilities. By introducing automated workflows for claims processing and leveraging data modeling and AI to generate insightful suggestions, Five Sigma streamlines the claims management process while enhancing adjusters' decision-making and minimizing mistakes. Leading insurance firms utilize Five Sigma's CMS to modernize their claims processes, decrease claims leakage, increase compliance, and boost client satisfaction.
For P&C insurers, Friss is a provider of analytics software for compliance, risk, and fraud. For non-life insurance firms across the world, Friss is completely committed to fraud, risk, and compliance. FRISS assists insurers in growing their lucrative portfolios and enhancing consumer impression of them as dependable providers of insurance. By recognizing high risks and fraud at quote, underwriting, and claim processing across all private and commercial lines, FRISS, a ready-to-use business solution, lowers insurers' loss ratios. Since the FRISS® Score identifies the risk associated with each quotation, policy, or claim, it helps people make smarter decisions. With more than 150 installations in more than 30 countries, FRISS dominates the worldwide market. A comprehensive solution for fraud, risk, and compliance is provided by FRISS (www.friss.com). Risk evaluation during underwriting Automated real-time risk identification and evaluation during the underwriting process to produce profitable portfolio expansion. Having a comprehensive understanding of prospects before to letting them into your portfolio is crucial for preventing fraud and evaluating risks. It has been demonstrated that the FRISS underwriting solution's intelligent and consistent risk estimate considerably raises the combined ratio. Preventing and spotting fraud in claims The widespread consensus is that 10% or so of all insurance claims on average include some form of fraud. We all pay more for our insurance policies in order to pay for these fraudulent claims. There are three crucial factors: - How can fraud be accurately and effectively detected? - How may unscrupulous clients be quickly identified? How do you approach this in your day-to-day operations? By improving the likelihood of identifying fraud and minimizing false positives, you may lower your loss ratio. To determine the risks associated with a claim with accuracy and objectivity, use automated fraud detection during the claims process. It enhances straight through processing (STP), and claims that require more attention are immediately identified. ☆ Become and keep compliant All insurance procedures are subject to compliance. Become and remain compliant with the most recent laws and rules. Knowing and vetting your consumers will help you avoid costly penalties and brand harm. Obtain knowledge about the Ultimate Beneficial Owners (UBOs). Your underwriting procedure will be of higher caliber as a result. Additionally, few administrative costs will be imposed. Gartner acknowledged FRISS as the market leader in Europe in 2014, and the company is working to take the lead globally.
LeO is an AI-scaling platform for the insurance sector's digital transformation. automating many activities involving both clients and agencies. The SaaS option from LeO seamlessly interacts with the agency's or business's IT systems, automates all operations from start to finish, and offers astute insights and puts them into practice.
MkuSafe, a wearable technology company founded in 2016, uses SaaS and IoT sensors to identify, forecast, and avoid danger in working settings. Organizations may utilize the award-winning technology developed by MkuSafe to find real leading signs and proactively lower risk for their workers. Their unique wristband gadget has sensors that detect ambient and employee mobility data while they work and transmit that information back to the MkuSmart platform. Employee- and machine-generated reports about the environment, safety, and productivity may be seen on the cloud dashboard by safety and operational staff.
Redkik is a global Insurtech company with the mission to transform and improve the insurance industry for all parties within logistics and transportation. Redkik’s platform eliminates the need for annual and complex insurance policies. Through Redkik’s embedded integration with licensed cargo insurance providers, transport intermediaries can offer their customers on-demand per-shipment, customized cargo insurance when their freight is booked. The team of Redkik has a big passion for innovation and technology, together with great experience and deep knowledge from logistics and transportation, risk management, cargo insurance, machine learning, and software development. Join Redkiks rapidly growing network of global transport intermediaries offering instant per shipment insurance. Redkik brings intelligence to insurance and peace of mind for you and your customers.
For insurers, actuaries, and financial institutions, Slope Software, a Techstars-backed business, offers cloud-based actuarial modeling and risk management solutions. Slope is the first and only actuarial modeling tool that is entirely cloud-based. This cutting-edge modeling platform has a wealth of capabilities that make it simple to create intricate asset/liability models for a variety of insurance and investment products. Numerous actuarial operations, including Pricing, Valuation, ALM, Cash Flow Testing, PBR, and many more, may be supported by the platform with ease. Any insurer or consulting firm can use Slope as a whole modeling package. A simple point-and-click interface is used for model generation and building. Additionally, all formulas are given in plain English and are entirely open source. No expertise of coding or programming is necessary! Every model has controlled and stored assumptions and inputs, which may directly use current data sources like Excel spreadsheets. Model governance and validation are made easier by the tracking and user-visible transparency of all model and input changes. The integrated business intelligence dashboards, which offer aesthetically pleasing charts, graphs, and tables at the push of a button, make it simple to evaluate the results of model runs. The system, which is built on top of Amazon Web Services (AWS), can rapidly scale to meet the demands of each run. Without requiring users to manage any hardware resources, it can run several scenarios simultaneously. Automatic data management, tracking, and consolidation occur. The program is housed in a Virtual Private Cloud and was developed utilizing the most recent web technologies and standards. Sensitive data is encrypted at rest and all other data is encrypted in transit.
Sureify is a SaaS platform for Life and Annuity companies around the globe. Sureify’s sales, customer self-service engagement solution, and their up-sell cross-sell solutions enable life insurers to connect, service, and sell to their new and existing customers using the most life insurance focused platform in the market today. The enterprise platform solution is secure, scalable, and delivers pragmatic features with the basics of the everyday digital life insurer front of mind. The Sureify solution encompasses the consumer-facing web and mobile applications, automated messaging and self-service platform, agent engagement console, marketing dashboard, underwriters data platform with analytics and reporting for executive overview. Sureify also can be implemented right on top of existing core systems and CRM systems while integrating with existing contact center platforms, customer apps, and most life insurance emerging and traditional 3rd party applications. All this is supported by Sureify’s Customer Experience team to ensure best practices, ideation, configuration both inside enterprise and end-user digitalization. Life insurers use the Sureify platform for direct and agent digital sales, policyholder service and self service, new product education and marketing, churn reduction, upsell cross-sell, and complete digital tracking of policyholders. The time is now for the life and annuity insurer.
TCARE’s Medicaid-approved, SaaS platform reduces caregiver burnout and delays nursing home placement. TCARE’s evidence-based predictive technology saved Washington State Department of Social and Health Services over $10M in a 2,300-caregiver pilot by delaying nursing home admissions by 18-24 months. TCARE enables family caregivers to keep their loved ones at home longer. TCARE’s aging-in-place enterprise SaaS solution partners with government and healthcare entities. TCARE uses its scientifically-validated algorithms to create an individualized care plan, which reduces stress and burnout of caregivers and allows their loved ones to age in place.
Receive a lead list of hundreds of companies that just raised funding to scale their business every month straight to your inbox.
We partnered with Sherlock to offer you access their waterfall enrichment tool.
They aggregate contact info from premium vendors such as Apollo, Hunter, DropContact and many more.
