Among the technologies areas exemplified by the companies in the 2018 GIA cohort are AI, gamification, continuous underwriting, portals, apps, IoT/connected world devices.
The Chainsure and WealthChain solutions are designed to help insurers and financial services firms combine blockchain technology with enterprise capabilities to impact multiple areas of their value chains.
The solution helps insurers manage crop portfolio risk and optimize their company’s stakeholder value under current yield, price, and crop insurance program uncertainties.
Insurers’ challenges are related to larger data volumes, the speed of the data, the complexity of the data, and also the need to turn this data into insights that improve workflow and have a positive impact on customer experience.
CLARA helps workers’ compensation claims organizations to improve the medical management of claimants while reducing the costs of claims with easy-to-use AI-based solutions.
The new solution, based on the vendor’s Arias product family, addresses actuarial departments’ challenges, including process inefficiencies, data management, workflow, reporting, and compliance.
The Latvia-based supplier of digital capabilities and consulting services adds a center of excellence for digital engagement staffed by 50 digital experts to Sapiens’ Digital Division.
The acquisition expands the firm’s marketshare in California, and gives customers access to new markets and 24/7 online service.
The value propositions for insurers include simplification, agility, and access to better data and analytics; for the platform provider: revenue and the ability to build new kinds of service offering by itself and with platform partners.
The platform enables the connection of parties and channels in the insurance ecosystem, and can serve as an accelerator from a legacy to a digital insurance technology environment.