In recent years, InsurTech has been redefining the contours of the traditional insurance industry. The newer business models such as microinsurance, on-demand insurance, etc., are leading the insurance industry towards short-term insurance products instead of long-term products based on time, usage, and activity. This trend is primarily being driven by a focus on niche segments paving the way for innovative, tech-driven InsurTech players who can address these areas. The MEDICI Team has consistently kept up to date with the leading players in the insurance (InsurTech) space and has followed the latest trends in the industry.
Continuing the series of awards run by MEDICI and its partners, which have seen a tremendous success in cross-segment chapters (MEDICI Top 21 – AI Awards, MEDICI Top 21 – Blockchain Awards, MEDICI Top 21 – InsurTech Awards, and MEDICI Top 21 – RegTech Awards), MEDICI in partnership with EY conducted the Top 21 InsurTech program over a period of three months and is now proud to announce the world’s most innovative companies disrupting the traditional insurance space (download Global InsurTech Report 2019: MEDICI-EY Top 21) created by MEDICI in partnership with EY). With this program, we tried to identify the early-stage startups that will bring about the next wave of disruption in the insurance space. For this reason, only startups that were founded post-2015 with a maximum funding of $10 million were considered for this exercise.
Hundreds of companies were rigorously screened and evaluated by the MEDICI Team and hand-picked global partners, including EY, to identify seven leaders from each region: EMEA, APAC, and the Americas.