Holborn: Custom-tailored Analytics for Evaluating Insurance Risks

Top 10 Insurance Analytics Solution Companies - 2021

By and large, the coronavirus pandemic has triggered a cascade of changes in all sectors. The insurance industry is no exception. As retrenchments, salary cuts, and furloughs have driven many people to reduce discretionary spending, the landscape has become more competitive for insurance players.

In this competitive landscape, digitalization is now the name of the game for all players. The shift towards greater digitalization also means that insurance companies will be dealing with ever-growing mounds of data. Many tech-savvy insurers are currently leveraging digital innovations such as big data, predictive analytics, automation, and cloud computing to utilize this ever-increasing pool of data as these latest advances offer faster, better, and more productive outcomes. This is to ensure more accurate risk assessment and greater insights that would help in preventing losses in the first instance, rather than compensating for them later.

Predictive analytics will help in anticipating potential risks and new trends scrutinizing customer data quickly and efficiently. This will include evaluating customer behavior and preferences; anticipating and understanding potential market disruptions and policy or environmental changes; and even recommending new or innovative products that help in addressing evolving business requirements. Besides, AI and ML will also enhance customers’ digital journeys by boosting efficiency, lowering turnaround times, negating the need for physical interactions and proactively reducing risks.

At this juncture, many insurance analytics solution providers and consulting companies are entering the domain with advanced and integrated offerings. To help the insurance sector strengthen its operational capabilities and simultaneously enable growth in the industry, Insurance CIO Outlook has compiled a list of the insurance analytics solution providers and consulting companies. The list comprises prominent organizations in the industry that address issues pertinent to the insurance analytics sector by implementing current trends. Besides, the magazine also includes insights from thought leaders in the sector on the industry trends, best practices, recent innovations, and their advice for aspiring CIOs.

We present to you Insurance CIO Outlook’s, “Top 10 Insurance Analytics Solution Providers – 2021.”

    Top Insurance Analytics Solution Companies

  • Amodo is an InsurTech company on a mission to disrupt the insurance industry as we know it. By turning users’ smartphones into powerful telematics sensors, the Amodo connected insurance platform enables insurers to deliver tailor-made products by gathering and contextualizing behavioral data. With its advanced technology, Amodo allows drivers to adapt their insurance cost to their driving habits by leveraging the one item most of them always have in their pocket - their smartphone. By offering new insurance models like Pay How You Drive, Pay As You Drive, Manage How You Drive, Amodo set new Telematics insurance standards and consequently acquired a great customer base, including P&V, AIG, Porsche, and BNP Paribas

  • Holborn is an independent reinsurance intermediary offering responsive account services, customized and proprietary analytics, and global access to their clients, helping them better understand the risks. They dig deep into the data to analyze the exposure profile of their insurance carrier clients and identify risk trends, both to inform clients and to design optimized reinsurance programs. Holborn has built a flexible risk modeling framework that customizes and captures each portfolio’s unique loss characteristics. Their capabilities have helped them serve multiple clients in the Midwestern states exposed to frequent tornados, hail storms, hurricanes, and derechos

  • InProfix, a stealth mode startup, develops analytical technologies that intelligently and automatically match the right risk with the right price helping insurers to create and maintain profitable portfolios. It develops a radically new approach for claims modeling and prediction and for collecting and analyzing competitive prices for insurance products. The company’s proprietary approach is based on applying machine-learning algorithms to predict time-to-claim events

  • Percipience Consulting offers best-in-class insurance analytics platform that make the data management processes streamlined and structures data in intuitive ways that insurance executives, actuaries, underwriters, and data scientists can all consume and translate into meaningful business insights. Percipience’s flagship product, Data Magnifier, is based upon industry standards and supports both property & casualty and life & annuity insurers. It can operate on any platform, on premise or on any public or private cloud platform, including AWS, Azure, Google, and Snowflake. Moreover, Data Magnifier offers the flexibility to be implemented with any combination of integration, database, and visualization technologies

  • DataWalk


    DataWalk provides a next-generation software platform for Big Data analytics. The company enables customers to easily link all your data in a single database, and then instantly do search, visual queries, link analysis, and geospatial analysis across all their data. DataWalk can enable effective collaboration, identification of hidden relationships, and dramatic increases in organizational efficiency and effectiveness, all without requiring technical expertise. The company’s software provides powerful capabilities for fraud detection, triage and investigation, for a variety of use cases spanning both internal and external frauds

  • Guidewire


    Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. The company combines digital, core, analytics, and AI to deliver its platform as a cloud service. More than 400 insurers, from new ventures to the largest and most complex in the world, run on Guidewire. As a partner to its customers, Guidewire continually evolve to enable their success and are proud of our unparalleled implementation track record, with 1,000+ successful projects, supported by the largest R&D team and partner ecosystem in the industry. The company’s marketplace provides hundreds of applications that accelerate integration, localization, and innovation

  • Inzata


    Inzata saves knowledge workers hours in lost productivity every day by completely eliminating time spent on data blending, data prep and data cleaning. Inzata believes in AI doing the work for customers so that they can focus more time on their analysis. Inzata's Cloud AI speeds up data modeling, prep, visualization and time-to-value by more than 100x. From automating data collection, preparing, cleansing, and modeling, Inzata provides actionable insights and beautiful visualizations in under 30 minutes by building a 360° view of customers across all their systems. Inzata helps business users integrate, explore, analyze and visualize data of any kind, from any source, at massive scale. The company’s pwerful AI-assisted modeling and a patented analytics engine help users quickly load, blend, prep and model raw and unstructured data into powerful enterprise data models, actionable real-time analytics and engaging visualizations

  • Tableau Software

    Tableau Software

    Tableau Software is an American interactive data visualization software company focused on business intelligence. It can help anyone see and understand their data and connect to almost any database, drag and drop to create visualizations, and share with a click. Tableau Software helps people see and understand data. Offering a revolutionary new approach to business intelligence, Tableau allows customers to quickly connect, visualize, and share data with a seamless experience from the PC to the iPad. It even allows them to create and publish dashboards and share them with colleagues, partners, or customers with no programming skills required

  • Verisk Analytics

    Verisk Analytics

    Verisk is a leading data analytics provider serving customers in insurance, energy and specialized markets, and financial services. Its team of nearly 9,000 helps customers make crucial decisions every day about risk—with greater precision, efficiency, and discipline. Headquartered in Jersey City, New Jersey, Verisk has more than 115 offices in 33 countries. The company’s businesses include AIR Worldwide, ISO, Verisk 3E, Verisk Financial, Verisk Maplecroft, Wood Mackenzie, and Xactware. In short, Verisk is focused on making the world better, safer, and stronger. Verisk is a member of the UN Global Compact, the world’s largest corporate citizenship and sustainability initiative

  • Vertafore


    As North America's InsurTech leader for more than 50 years, Vertafore is modernizing and simplifying insurance distribution so that its customers can focus on what matters most: people. Vertafore's solutions provide end-to-end connectivity, improve the client and agent experience, unlock the power of data, and streamline essential workflows to drive efficiency, productivity, and profitability for independent agencies and carriers. The company is the ideal software solutions partner for independent insurance agencies and brokers, MGAs, and carriers to help them better manage their businesses and processes to grow revenue and be more profitable. Insurance is all about relationships, and Vertafore believes technology should make those relationships even stronger. The company is transforming the way the industry operates by putting people at the heart of insurance technology