The "InsurTech100" recognizes the innovative
companies transforming the insurance industry
BOSTON, Oct. 15,
2024 /PRNewswire/ -- Expert.ai, the industry leader
in providing AI-powered solutions to enterprises, has been named in
the seventh annual FinTech Global InsurTech100, highlighting the
leading innovators developing solutions to the critical challenges
facing the insurance sector over the coming years. The InsurTech
100 ranking is the result of a competitive review of seasoned
analysts and industry veterans who reviewed more than 2,100
nominations, and this is the second consecutive year that expert.ai
has been included in the list.
Despite challenging macroeconomic and funding environment
recently, the InsurTech industry continues to show resilience,
recording strong year-on-year growth. According to the research
firm FinTech Global, the sector's market size has grown from
$18.7bn in 2023 to $25.9bn in 2024. The long-term growth potential
of the sector is also providing hopeful reading for investors and
industry stakeholders as it is set to grow to a size of
$496.5bn by 2033 (a whopping 38.8%
CAGR growth rate.)
"The InsurTech100 is a vital resource for industry leaders
looking to stay ahead of the curve. The companies that have worked
their way onto the list are driving real innovation and providing
the tools insurers need to navigate the complexities of digital
transformation in this dynamic marketplace," said FinTech
Global Director Richard
Sachar. "As industry leaders refine their
technology strategies, these companies are playing a pivotal role
in shaping the future of insurance. The solutions they
offer—ranging from artificial intelligence and machine learning to
telematics—are changing the game across the sector."
"While advances around Generative AI and Large Language
Models have captured headlines, it's also clear they work best in
combination with other AI approaches on vertical solutions, making
them more cost-effective and efficient at the same time, especially
in regulated industries like insurance where out-of-the-box
accuracy and algorithms' explainability are essential attributes
for any AI project success," said Umberto Pardi, SVP EMEA,
expert.ai. "Expert.ai's inclusion in the InsurTech100
list validates the effectiveness of our Hybrid AI approach and the
value that our solutions bring to our insurance customers around
the world."
With expertise honed from hundreds of successful AI
implementations for some of the world's leading insurance
companies, expert.ai streamlines operations across claims
automation and risk engineering workflows as well as policy review
and submission intake. Recently named a "Leader" by leading
research firm in document mining and analytics platforms with
highest score possible in AI: GenAI criterion, expert.ai leverages
robust AI capabilities, strategic vision and industry-oriented
strengths to stand out from the crowd as a reliable partner
equipped to deliver cutting-edge solutions tailored to meet
business objectives, and the most stringent regulatory and
operational demands. Expert.ai is recognized for out-of-the-box
accuracy and explainability, both key factors for using AI in
regulated industries.
A full list of the InsurTech100 for 2024 and detailed
information about each company is available at
www.TheInsurTech100.com.
About expert.ai
Expert.ai (EXAI: IM) is a Euronext Growth Milan-listed company
specialized in the implementation of enterprise artificial
intelligence solutions to create business value for organizations
across Europe and North America. By applying a proven innovation
framework, expert.ai supports businesses and public administrations
in their digital transformation, harnessing the potential of AI
across various processes and use cases through a responsible,
transparent and sustainable approach that focuses on people,
problems to solve and goals to achieve. With more than 25 years of
experience in natural language solutions, expert.ai has
successfully implemented hundreds of projects by integrating the
best AI technologies on the market with its proprietary
technologies (knowledge graph, machine/deep learning techniques,
large language models and generative AI). Banks and financial
institutions, insurance companies, publishers and organizations in
the healthcare, defense, intelligence and public administration
sectors choose expert.ai's solutions to automate knowledge on a
large scale, manage massive volumes of information, improve
decision making processes and enable new levels of efficiency by
leveraging the right data at the right time with speed. The
company's customers, either directly or through partners, include
AXA XL, Zurich Insurance Group, Generali, Sanofi, EBSCO, The
Associated Press, Bloomberg, INDG, Dow Jones and other industry
leaders. Learn more at https://www.expert.ai
View original content to download
multimedia:https://www.prnewswire.com/news-releases/expertai-named-among-the-top-100-leading-innovators-in-the-insurance-market-302276227.html
SOURCE expert.ai