InsurTech100 is an annual list of 100 of the world’s most innovative InsurTech companies, selected by a panel of industry experts and analysts. It helps inform buyers, sellers, investors, and innovators worldwide.
Now in its sixth edition, entrants are assessed by the InsurTech100 Advisory Board and FinTech Global team, and the list is determined based on the following criteria:
- Industry significance of the problem being solved
- Growth, in terms of capital raised, revenue and customer traction
- Innovation of technology solution
- Potential cost savings, efficiency improvement, impact on the value chain and/or revenue enhancements generated for clients
- How important is it for insurance executives to know about this company?
FinTech Global reports that insurance firms have “faced an uphill battle to rapidly digitise their services and meet the evolving customer demands.” The research firm claims that experts predict the sector is “set to soar at a CAGR of 32.7%, estimating its worth to be $159bn by 2030.”
Konrad Pfeffer, Principal Architect and MD of DACH at Ascent, is largely in agreement with this sector growth outlook. On the inclusion of Ascent in the annual list, he says,
I am really proud of the recognition we have received as a serious insurtech player amongst a very busy and fast-moving tech landscape. This award is a testament to the cloud pedigree at Ascent, combined with our proven domain knowledge and collaborative way of working.
Ascent’s Chief Technology Officer, Murray Foxcroft, notes that “As one of only 10 OpenAI priority partners on Azure, Ascent is in prime position to identify and deliver profitable Generative AI use cases for enterprise insurance and reinsurance customers.”
Three of the world’s largest reinsurers work with Ascent, which makes the 450-strong company with offices in UK, Germany, Malta, Bulgaria and Portugal an obvious choice of partner for an enterprise insurer or reinsurer of any digital maturity.
Chief Commercial Officer of Ascent, George Earp, provides the following comment: “In this highly competitive sector, this award highlights Ascent’s diligence and persistence to drive customer value at every stage of engagement — be it an MVP or five-year strategy, our domain and cloud expertise stands out as value-proving to enterprise customers.”
The full list of 100 firms can be accessed on Fintech Global’s website.