Nearly US$17 billion has been invested in insurtech companies since the beginning of 2017, according to FinTech Global. The InsurTech100 is an annual list of the world’s most innovative solution providers addressing digital transformation challenges and opportunities within insurance as selected by a panel of analysts and industry experts.
FinTech Global director Richard Sachar commented: “Established insurance companies need to be aware of the latest innovation in the market in order to remain competitive in the market post-Covid-19, which is heavily focused on digital distribution and increased use of customer data.
“The InsurTech100 list helps senior management filter through all the vendors in the market by highlighting the leading companies in sectors such as underwriting, pricing, IoT devices, customer experience and data & analytics.”
Travel insurtech Blink named on the list
Among others, insurtech Blink was named for the second year in a row. Commenting on the announcement, Blink’s Co-Founder and CEO Paul Prendergast said: “This is a great day for all of us in Blink Parametric. I see the wealth of InsurTech innovation driving change in our industry at an extraordinary pace right now, so to be selected and recognised from over 1,200 companies is a huge honour. This recognition motivates us to keep doing what we do best: prioritising the delivery of superior service experiences with simple, intuitive, online products that solve real problems, not only for the insured, but for insurers too.”
Blink successfully launched Blink Travel in 2016. It launched Blink Parametric in 2020, offering a full suite of parametric insurance solutions, and in April, the company launched Blink Luggage. Prendergast said: “Although travel is very tough right now and everyone is dealing with personal and business difficulties, we are bullish and continue to invest to allow our partners to innovate at speed.”