​MOST PROMISING START UP

Open to newly formed businesses operating in the global insurtech market for five years or less. Entrants must demonstrate:

• How they have addressed a particular gap in the insurance market through their products and services.

• How they have achieved/continue to achieve rapid growth.

• How their business is easily scalable and attractive to investors through innovation and disruption.

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BEST USE OF MACHINE LEARNING​

Entrants must demonstrate some (or all) of the following:

• How their product has harnessed Machine Learning to increase automation and keep up with increasing data volumes.

• How their product has harnessed Machine Learning to assist with the development of insurance products/services.

• How their product has harnessed Machine Learning to fight fraud effectively.

• How their product has harnessed Machine Learning to create a streamlined customer journey.

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BEST UNDERWRITING TECHNOLOGY

Entrants must evidence:

• How their technology has created a modern, connected solution that automates underwriting processes and optimises decision making.

• How replacing manual underwriting with a modern, connected solution has resulted in a better bottom line and an improved customer experience.

• How confident, predictive decisions have been made in line with the expectations of the modern consumer.

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BEST CUSTOMER ENGAGEMENT SOFTWARE

Successful firms must show:

• How they have built a digital experience that prioritises customer experience and retention, harnessing some (or all) of the following to drive engagement: offers, rewards, bonuses, benefits and gamified content.

• How they stay competitive by optimising frictionless customer experience and/or integrating solutions into the everyday lives of their users.  

• How their platform embraces industry partnerships and enables fully configured personalisation.

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​BEST INSURANCE MANAGEMENT SYSTEM (AGENCY MANAGEMENT SYSTEM)

Shortlisted firms must show:

• How their software streamlines and simplifies the storage of data, delivering instant access to relevant information as and when needed.

• How their software dramatically increases business efficiency, marketing automation and/or lead management capabilities.

• How their software adheres to regulatory compliance in a variety of geographical areas.

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BEST CLAIMS PROCESSING SOFTWARE

Shortlisted firms must demonstrate:

• How their software manages and evaluates customer claims efficiently.

• How their software reduces manual work and improves overall productivity for Claims teams.

• How their software organises, tracks and processes claims well, capturing all relevant information and reducing claims management costs, fraudulent claims, and complaints.

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BEST PAYMENT SOLUTIONS PROVIDER

Shortlisted firms must show:

• How their Payment Solution improves payment experiences across the entire policy journey.

• How their Payment Solution integrates seamlessly with other platforms, improving cashflow whilst saving time.

• How their Payment Solution prioritises security and transparency around payment status.

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BEST DATA SOLUTIONS PROVIDER

Shortlisted firms must illustrate:

• How they have helped insurers, brokers and MGAs maximise the value of their data, decommissioning legacy systems by archiving historical data in compliance with regulatory restrictions.

• How they have enabled accessibility to data and ease of practical use across the insurance value chain.

• How they have helped insurers, brokers and MGAs to improve operational efficiency, solve problems and achieve KPIs.   

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​​​​​​BEST B2B INSURTECH (BUSINESS TO BUSINESS)

Shortlisted firms must evaluate:

• How they connect with target businesses in order to build direct relationships, making it easier to identify trends in the market and discover new products / lines of business.

• How the B2B relationship is streamlined to create efficiency, removing roadblocks and maximising outcomes for the end user.

• How value is built through digital transformation and maturity, with a strong correlation to revenue and growth.

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BEST CLOUD-BASED SOLUTION

Shortlisted firms should demonstrate:

• How their cloud-based insurance software allows insurance operations to be conducted wholly or partially through an online interface, streamlining processes and engaging efficiency.

• How their cloud-based insurance software remains accessible from any location with an internet connection, enabling remote-working scenarios without compromising security.

• How their cloud-based insurance software remains flexible, convenient and adaptable to business needs and changing market conditions.

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BEST COUNTER-FRAUD INSURANCE TECHNOLOGY 

Shortlisted firms should outline:

• How they have harnessed technology to prevent, identify and address insurance fraud in an innovative way.

• How they have used their fraud solution(s) to collaborate effectively with insurers, brokers, MGAs.

• How they have used their fraud solution(s) to promote cross-sector collaboration between the public and private sector.

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BEST PARAMETRIC INSURANCE PRODUCT

Shortlisted firms must consider:

• How their Parametric Insurance Product harnesses technology to quantify data.

• How their Parametric Insurance Product harnesses technology to improve outcomes for the consumer.

• How their Parametric Insurance Product harnesses technology to complement traditional insurance practices.

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BEST EMBEDDED INSURANCE PROVIDER

Shortlisted firms must show:

• Demonstrable added value and integration of products at the point of sale.

• A streamlined claims process during the ‘moment of truth’, avoiding consumer frustration when a claim needs to be made.

• Effective collaboration and partnerships with the industry, providing tailored insurance for stakeholders across multiple industries.

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BEST GLOBAL INSURANCE & INSURTECH COLLABORATION

Successful firms must demonstrate:

• How their partnership has brought innovation and value to the insurance industry.

• How their partnership has addressed a gap in the market.

• How their partnership has streamlined insurance operations and processes.

(Please note: this is open to both Insurers/Brokers who have collaborated with Insurtech)

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 INSURTECH INFLUENCER OF THE YEAR

  Open to any individual with a positive social platform of industry-relevant content, including but not limited to LinkedIn, Twitter, Instagram, podcasts, videos and blogs.
 

Shortlisted individuals must demonstrate:

• How they have harnessed their niche within the insurance/insurtech industry in order to organically build a substantial following and target audience.  

• How their specialist knowledge, authority and insights have contributed towards an improvement of the overall understanding and reputation of insurance / insurtech.

• How they have successfully and consistently identified industry trends over time, exploring original lines of thought or unique perspectives within the wider business landscape.  

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​INSURTECH OF THE YEAR

Entrants must demonstrate:

• Significant success and achievements in business over the last 12 months, with strong indication of customer/client satisfaction.

• How they have adapted to changing market conditions over the last 12 months.

• How they have harnessed innovation to remain nimble in a challenging landscape.

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