LONDON – 26 October 2021 – AkinovA Ltd. are delighted to announce that they have been selected in the InsurTech100 for 2021. This prestigious ranking recognises the world’s most innovative technology solution providers that address the digital transformation challenges in insurance.
The InsurTech (insurance technology) sector has experienced huge growth in recent years as shifting customer landscape and increased use of digital channels due to COVID-19 has necessitated innovation within the insurance industry. As a result, the global InsurTech market is projected to grow at CAGR of 34.4% and be worth $119.4bn by 2027 according to figures published by Valuates Reports, a market research company.
This year’s process to identify the 100 InsurTech innovation leaders was more competitive than ever. A panel of analysts and industry experts voted from a longlist of over 1,400 companies produced by FinTech Global. The finalists were recognized for their innovative use of technology to solve a significant industry problem, or to generate efficiency improvements across the insurance value chain.
FinTech Global director Richard Sachar said, “Consumers and businesses increasingly expect insurance cover to be offered via a range of digital and offline channels, and insurers that fail to keep up with the latest technologies and innovation will be less competitive and lose market share over time. The InsurTech100 list helps senior decision-makers in the industry filter through all the vendors in the market by highlighting the leading companies in sectors such as underwriting, pricing, IoT devices, distribution and data & analytics.”
AkinovA CEO, Dr. Henri Winand commented, “AkinovA’s objective is to grow the industry with a blend of third- party innovative product offerings, easy to use data and analytics, new regulatory framework and, of course, technology. This enables carriers, brokers, analytics providers and clients to have a more dynamic environment within which risk transfers take place to meet the needs of a more connected world. It is wonderful to be recognised by FinTech Global in this way and are delighted to be included in the Insurtech 100 as a result.”
A full list of the InsurTech100 and detailed information about each company is available to download for free at www.TheInsurTech100.com.
AkinovA is an independent electronic marketplace for the transfer and trading of re/insurance risk which is regulated in Bermuda. The marketplace is a regulated electronic environment where insurance, reinsurance and ILS risks can access new sources of capacity as well as increase the efficiency of transferring and trading re/insurance risks in the primary and secondary markets. AkinovA also offers re/insurance service providers an additional channel to share their models, data and expertise with market participants. AkinovA is working with the existing re/insurance value chain to grow the overall market.
AkinovA operates with the regulatory oversight from the Bermuda Monetary Authority (BMA).For more information, please go to: www.AkinovA.com, email enquiries@AkinovA.com or phone +44 (0)20 8012 8172