Best insurtech companies 2026 

The modern insurance industry is on the verge of groundbreaking changes. Moving in the wake of the IT revolution, the insurance sector is undergoing a radical transformation by switching to digital channels of interacting with customers and delivering insurance products. Since the number of tech-driven insurance carriers in the market is constantly growing, finding a reliable partner among them becomes a challenging endeavor for individuals, small businesses, and large enterprises alike.  

This article offers an overview of the contemporary insurtech industry, outlines parameters for selecting an insurtech company, gives a list of world leaders in the domain, and dwells on the disruptive trends that shape the contours of the sector today and beyond. 

The insurtech landscape in 2026: Important facts to consider

In the tech-savvy world of the early third millennium, organizations go digital in all their shop floor activities. There are two major reasons behind this shift. First of all, digital transformation allows them to radically streamline and facilitate their workflows. Second of all, embracing high-tech innovations is what their customers demand.  

Both reasons work for the insurance realm, too. On the one hand, insurance automation and digitalization spell a more efficient pipeline, manual process minimization, OPEX reduction, and a sharper competitive edge. On the other hand, more and more insurance services consumers (like any other consumers today) prefer to leverage online channels – such as a customer portal or a mobile app – for handling all related routines and enjoying the ultimate insurance experience. In a survey held four years ago, the percentage of such customers equaled 55%, and today this number is definitely greater.  

Sensing attractive prospects insurance technology implementation can usher in, companies in the field invest heavily in innovative solutions. This year, the global insurtech market is estimated at $11.25 billion, and it is forecasted to increase almost four-fold by 2030, manifesting a mind-blowing CAGR of 30.34% (and in the US even bigger – 51.6%). North America remains the largest insurtech niche, but the Asian Pacific region displays the most dynamic growth pattern, so future-oriented players in the industry should pay close attention to various segments of consumers there.  

Apparently, insurance firms with big-time aspirations should make the most of professional cutting-edge solutions that they can obtain only from competent software vendors. What should they steer by when choosing an IT company to partner with?  

Criteria for selecting an insurtech vendor

While cooperating with many behemoths in the field (among them such major-league players as UNIQA, Fadata, WTW, BriteCore, and BenefitNet), we came to know what insurance professionals pay attention to in opting for an insurtech solution developer. 

Innovation and technology adoption 

Since getting a state-of-the-art product is the ultimate goal of insurtech development, the technological arsenal the potential candidate wields should be the major tipping factor. It should include mainstream tools, frameworks, programming languages, and methodologies, as well as novel know-how (artificial intelligence, machine learning, big data, blockchain, etc.) that push the envelope in the sector.  

Financial performance and growth 

You must be sure you will get the maximum value for the money you spend on the solution you are planning to onboard. The vendor should demonstrate how their product is going to improve workforce efficiency and productivity, reduce costs, and promote business growth in the long run. 

Market impact and customer satisfaction 

You can figure it out by reading ex-clients’ testimonials and reviews the solid vendor places on its site. To get more detailed information on how satisfied they were with the cooperation process and its outcomes, you should contact them personally and make further inquiries.  

Industry recognition and rewards 

Proud vendors usually showcase their rewards on the site. The best place to check industry recognition is rating platforms (such as Clutch and GoodFirms) that give independent assessments of vendors across multiple categories. 

All these factors considered, you will still be left with dozens, if not hundreds, of IT companies on your candidates’ list. To save time and effort, read about the top companies specializing in insurtech software development. 

Top 10 insurtech companies

By partnering with one of the following vendors, you will improve your KPIs (insurer financial strength rating, new policies per agent, average cost per claim, insurance distribution, underwriting cycle time, you name it) and give a powerful boost to your insurance business.  

DICEUS 

During 15+ years of presence in the insurance software market, we have obtained a deep understanding of the nuts and bolts of the industry. This knowledge enables us to develop both multifunctional insurance digital channels (such as apps, portals, and chatbots) and a broad range of narrow-purpose insurtech products covering all steps of the insurance lifecycle, including risk management, claims processing, fraud detection, policy administration, underwriting processes, advanced analytics, and more. Besides, we can craft solutions for various insurance options (health insurance, life insurance, property and casualty insurance, home insurance, etc.). 

Our qualified and certified experts provide customers with full-cycle insurtech development services, starting from the ideation and discovery phase down to deployment, support, and maintenance. Moreover, they consult insurance agents and organizations on different aspects of insurance solutions’ functioning and usage.  

On top of that, we have a ready-made suite to offer to clients who want to start using professional software right off the bat. Our suite of ready-made software products for insurance includes AI-Powered Underwriting Workbench, Group Insurance Management Platform, Policy Administration System, Super App, DWH, Customer Portal, Broker Portal, and Chatbot. All of them are flexible and scalable products that can be fine-tuned to meet your business and technical requirements and seamlessly integrate into your company’s current digital environment. 

ePayPolicy 

This Texas-based company focuses on revolutionizing and largely automating the insurance payment process. Its payment solutions and API integrations guarantee secure online payments and enable access from a customizable payment page to all communication software an insurance company utilizes in its shop floor activities.  

Snapsheet 

Another insurance payment booster is the automated payment tool offered by this vendor. Besides, Snapsheet provides cloud-native claim-management software with a virtual appraisal solution as its centerpiece. The latter allows policyholders to submit photos as damage proofs via email or SMS, accelerating the entire routine of processing claims. 

Next Insurance 

Hailing from Silicon Valley’s principal center, Palo Alto, the company lives up to the reputation of the place, radically transforming small business insurance. Its multifunctional digital platform allows small business owners to safeguard their assets and expand insurance coverage options, including equipment insurance, workers compensation, liability insurance, and more. 

Spark Advisors 

The vendor’s ultimate goal is to stimulate insurance firms’ growth by improving their productivity. Its one-stop-shop platform, which is equipped with broker management, data reporting, customer support, marketing, and other functionalities, is an excellent instrument for achieving this goal. 

Oscar Health 

As it is easy to guess, the company focuses on streamlining health insurance services for individuals, families, and organizations. Its centralized platform makes navigating insurance sites and choosing proper plans a breeze. From it, customers can renew prescriptions, access digital ID cards, and identify local health insurance providers to partner with. 

Chapter 

The company operates in New York and helps people maximize their Medicare advantages. To make the most of their health insurance company built a complex of online tools connecting policyholders with advocates and advisors to discuss available options, find the most suitable plan, and choose the best time to enroll. A special bonus is the online calculator used to gauge associated costs and figure out enrollment windows.  

Bold Penguin 

The vendor disrupts the industry with its first-rate quoting solution called Storefront Pro. Among other tools, it includes a customizable app honed for managing general agents’ and brokers’ ability to provide a comprehensive quote experience, thus fostering efficient lead generation and promoting brand recognition.  

Hi Marley 

This Boston-based insurtech company specializes in text messaging communication tools geared to provide seamless interaction between insurance service providers and their clientele as well as among insurance agents. Thanks to such tools, the latter can obtain real-time coaching and send messages in 19 languages.  

Applied Systems 

The vendor has developed a complex of digital ecosystems delivering various policy types (property and casualty, health, homeowners insurance, and more) to customers. These solutions integrate a number of in-house brands focusing on specific functionalities, like Applied Pay for insurance payments or Tarmika for automating insurance quotes.   

No matter what insurtech partner you opt for, the outcome of your cooperation should be future-proof, which means staying abreast of emerging trends in the sector.  

Key innovations driving insurtech

We at DICEUS constantly keep our fingers on the pulse of the dominating trends in insurance software development. The most prominent of them are the following five.  

Artificial intelligence and machine learning 

AI-driven technologies are all the rage in the insurance industry today, with a market size of almost $11 billion. Yet, this solid number will seem insignificant in comparison to forecasts, which promise its nearly thirteen times spike within ten years! Such a meteoritic rise is easily explained by the multiple perks AI tools can usher in underwriting, risk assessment, fraud detection and prevention, data science initiatives, predictive analytics, and customer service, where ML-fueled virtual assistants and chatbots reign supreme.  

Enhanced security and transparency with blockchain 

There is hardly any other legal market in the world that can boast of 65.5% CAGR, except blockchain. While it was a little over $20 billion last year, in 2029, it will approach $250 billion – a prodigious leap! In the insurance niche, the technology’s application displays a rapid surge in such workflows as policy management and claims processing, where self-executing smart contracts and distributed ledger help reinforce customer data protection, keep transparent records of claims history, minimize fraudulent activities, and exclude human factor-driven errors. 

Internet of Things and Telematics 

The three main insurance types that benefit from leveraging IoT technologies are vehicle, health, and home insurance.  

In the automotive realm, telematics devices installed on cars register various aspects of driving behavior (speed, braking, tailgating, overtaking, and the like) to determine premium rates and offer user-based policies.  

Wearable gizmos track basic health metrics (pulse rate, blood pressure, body temperature, and more), helping insurers assess health risks and tailor insurance plans to enable them to encourage a healthy lifestyle.  

Smart home technology is honed for optimizing property insurance policies. IoT sensors placed all over the place detect humidity, temperature fluctuations, possible water and gas leaks, etc. Both homeowners and insurers receive this information in real-time, which paves the way for proactive damage minimization and, consequently, reduction of claims.  

Embedded insurance 

This is a novel development that boils down to integrating insurance policies directly into products or services a person acquires. For instance, people may get insurance in a couple of clicks when buying a gadget, booking a trip, hiring a car, renting lodging, making an investment, etc. Such an option streamlines access to insurance services, eliminates red tape, and ensures customers feel protected when purchasing big-ticket items or services.  

The rise of regtech 

The insurance realm operates under stringent legal standards that stipulate exclusive data protection measures players must implement in their workflows. Regtech solutions help insurers navigate this complex field, providing automated compliance monitoring, proactively identifying and mitigating potential regulatory risks, reducing administrative paperwork, and streamlining the auditing procedure via accurate data collection and reporting. 

Key takeaways 

Like many other traditional verticals, the insurance realm experiences a tectonic shift caused by the advent of digital technologies. Isnurtech software embraced by insurance firms on a large scale streamlines industry workflows, minimizes manual labor, reduces expenditures, and augments the satisfaction of insurance services consumers.  

Given such substantial perks of digital transformations, insurance firms with big-time aspirations develop strategies for implementing insurtech solutions into their pipeline routine. The smooth functioning of these products depends critically on the choice of the right vendor to create them. To find a competent and reliable partner, insurance organizations should pay attention to the potential candidate’s tech stack, market impact, and industry recognition and assess the financial effects the solution’s onboarding will bring. 

Another important factor influencing an insurtech vendor’s choice is its ability to embrace the latest trends in the industry, including AI and ML adoption, blockchain and regtech involvement, IoT integration, and participation in embedded insurance initiatives. 

Frequently asked questions