Frost Radar™: Insurtech Pricing Automation, 2024

Frost Radar™: Insurtech Pricing Automation, 2024

A Benchmarking System to Spark Companies to Action - Innovation that Fuels New Deal Flow and Growth Pipelines

The insurtech pricing automation industry emerged from the convergence between technology and insurance, and it holds the potential to completely transform the way insurers operate and customers experience their services. This sector is rapidly changing with the adoption of advanced technologies such as artificial intelligence (AI), machine learning (ML), and big data analytics. Companies in this field are prioritizing customer satisfaction by creating personalized experiences, providing real-time services, and offering seamless digital interactions. Broader economic trends, including the rise of the gig economy and growing consumer preference for digital-first interactions, are also forcing changes in this sector. Geographically, growth dynamics vary across regions, such as the United States, Europe, and Asia-Pacific, which are influenced by differences in regulations and consumer behavior. As the industry evolves, cybersecurity, privacy, and responsible use of AI are becoming increasingly important components in navigating the evolving insurtech pricing automation sector. This research provides insights into these trends, highlights key companies driving change, and outlines strategic imperatives for success in this dynamic industry.

Frost & Sullivan analyzes numerous companies in an industry. Those selected for further analysis based on their leadership or other distinctions are benchmarked across 10 Growth and Innovation criteria to reveal their position on the Frost Radar™. The publication presents competitive profiles of each company on the Frost Radar™ considering their strengths and the opportunities that best fit those strengths.