Insuranceciooutlook
Caytons Cyber: Innovative Solutions for the Insurance Industry

Top 10 InsurTech Startups in UK - 2020

The insurance sector currently stands on the precipice of profound changes, especially in the wake of the digitilisation storm. The advent of smart technologies has drastically changed consumer behaviour, which has compelled insurers to replace the traditional operations with advanced insurance methods. For instance, insurers today are heavily utilising machine learning-based predictive analytics to collect a variety of data and analyse them to decipher consumer behaviour. Predictive analytics is even helping insurers to anticipate any upcoming market trends and prepare their claims processes and other deliverables accordingly. Besides, to enhance the user experience, insurance startups are leveraging AI-based underwriting and claims processes that eliminate redundant human participation and improve the quality of data gathered.

Furthermore, to understand customers better and expand their clientele base, insurance enterprises are resorting to social media platforms. From filing claims to requesting quotes to introducing new services, social media is helping insurance companies expand their reach among target customers. In fact, insurance startups are also offering chatbots to help customers navigate through their vast realm of solutions and services.

In order to assist companies in the insurance realm in shoring up their capabilities, we have compiled this issue of Insurance CIO Outlook. In this edition, we have listed the top 5 insurtech startups in UK 2020 to highlight the firms that can help you escalate your chances of success. Equipped with innovative technological capabilities, these enlisted insurtech startups are transforming the insurance landscape at the cloverleaf of various disruptive technologies. Besides, the magazine comprises insights from subject-matter experts, CIOs, and CXOs in the insurance sector on the latest industry trends, best practices, recent innovations, and highlights their expertise. We hope this issue of Insurance CIO Outlook helps you build the partnership you and your organisation need to foster an environment driven by robust and efficient technology.

We present to you Insurance CIO Outlook’s “Top 5 InsurTech Startups in UK - 2020.”

Top InsurTech Startups in UK

Caytons Cyber offers sophisticated underwriting and claims platforms to insurers, MGAs and other underwriting and claims organisations. The company witnessed this gap in the insurance industry in 2015 and developed a robust, sophisticated platform, Console, that would provide a single solution to the compliance and underwriting needs of insurers, MGAs, and other claims organisations. By consolidating the data generated by organisations into a single platform, Caytons Cyber helps them create a centralised source of information. Caytons Cyber doesn’t just deal with claims and underwriting systems; it has also built a document management system for the legal company Caytons LLP. In the process, the company takes learnings from that project and also uses them across its claims system

www.caytonscyber.com

Blocksure

Blocksure

It provides full cycle capabilities for all sales, policy administration activities and key claims processes

INSTANDA

INSTANDA

INSTANDA operates exclusively through Software-as-a-Service (SaaS) and is a radically different approach to insurance product innovation

Phinsys Limited

Phinsys Limited

Phinsys specialises in providing innovative solutions to insurance companies financial accounting, regulatory reporting and analytical needs

Policy Expert

Policy Expert

They’re passionate about insurance and they wanted to improve the way people thought about and bought their insurance cover