Annual list from research firm FinTech Global spotlights companies transforming the insurance industry
MILWAUKEE, Oct. 9, 2024 /PRNewswire/ -- Announced today, leading insurtech provider Zywave has been named to specialist research firm Fintech Global's 2024 InsurTech100 list, highlighting the leading innovators developing solutions to the critical challenges facing the insurance sector over the coming years.
This seventh annual edition of the InsurTech100 list was the most competitive to date. A panel of seasoned analysts and industry veterans selected the top 100 from over 2,100 nominations presented by FinTech Global. Each application was assessed on its ability to leverage technology, to either tackle a significant industry obstacle, or enhance efficiency across the insurance value chain, with only the most innovative and impactful companies making the final cut.
"Zywave is honored to be included in this year's InsurTech100 list, among some of the most innovative companies in the industry," said Martin Simoncic, Zywave's Chief Executive Officer. "We believe that in order to continue to move the insurance industry forward we must collaborate with like-minded leaders, sharing information and ideas that elevate all of us. I congratulate the other companies who made the list and look forward to working together in this thriving industry."
Zywave's winning nomination highlighted three primary areas of strength and differentiation:
- Powering profitability – Increased efficiency, proprietary data and actionable insights, modern distribution channels, and tools and resources that drive customer retention—they all add up to increased profitability. For example, a recent Total Economic Impact™ study, conducted by Forrester Consulting, revealed a 160% three-year return on investment for a composite enterprise that deployed Zywave solutions, and a total of $6.68 million in three-year benefits.
- Driving digital distribution - As the largest enabler of digital quoting in the insurance industry, Zywave unites product development and distribution, facilitating powerful industry connections. In 2023, Zywave saw a 20% increase in quoting volume within CPQ solutions across all lines of business, resulting in an estimated $76B in facilitated premium. In 2024, it also launched Cyber Quoting, expanding the distribution opportunities for a quickly growing market.
- Connecting the industry – Zywave's open API infrastructure helps connect its customers' data and tech stacks, enabling information to flow seamlessly between systems—both inside and outside the organization. In 2023, the company added 15+ new REST API capabilities to seamlessly deliver even more data to customers.
FinTech Global CEO Richard Sachar commented on the importance of the list, stating, "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."
"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."
A full list of the InsurTech100 for 2024 and detailed information about each company is available to download for free at www.TheInsurTech100.com. For more information on Zywave, visit www.zywave.com.
About Zywave
Zywave leads the insurtech industry, powering the modern insurance lifecycle while fostering connections between innovative agents and brokers, insurers, and MGAs. Zywave's customizable, all-in-one platform accelerates digitalization, distribution, and profitability to help insurance organizations meet their specific growth goals. More than 15,000 insurers, MGAs, agencies, and brokerages worldwide—including all of the top 100 U.S. insurance brokerages—use Zywave solutions to increase efficiency, make better informed business decisions, and fuel organic growth. Additional information can be found at www.zywave.com.
Contact: April Larsen
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SOURCE Zywave
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