Specialist research firm FinTech Global has released the latest edition of its influential InsurTech100 list, highlighting the leading innovators developing solutions to the critical challenges facing the insurance sector over the coming years.

Despite challenging macroeconomic and funding environment recently, the InsurTech industry continues to show resilience, recording strong year-on-year growth. Based on recent reports the sector’s market size has grown from $18.7bn in 2023 to $25.9bn in 2024. The long-term growth potential of the sector is also providing hopeful reading for investors and industry stakeholders. The InsurTech market is set to grow to a size of $496.5bn by 2033, a staggering 38.8% CAGR growth rate. 

Given this strong growth, it is not surprising this year’s contest to make the InsurTech100 ranking was the most competitive to date. To compile the list, a panel of seasoned analysts and industry veterans meticulously reviewed 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.

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.”

Wisedocs was one of the esteemed companies to be featured on this coveted list. The company’s innovative machine learning and AI-driven software platform is tailored to meet the medical record review requirements of insurance carriers, healthcare providers, law firms, and TPAs. Specializing in the sorting, reviewing, and summarizing of medical records, Wisedocs offers invaluable insights for the insurance industry, particularly in markets such as auto, liability, disability, workers’ compensation, and tort law. Through its easily integrable solution, Wisedocs enhances the accuracy and speed of processing claims and medical records. In 2024, Wisedocs successfully raised $12.7M in an oversubscribed Series A funding round, underscoring its growing impact and potential in the expanding insurtech market. The company also raised $4.5M in growth capital financing from CIBC Innovation Banking in 2024, supporting its mission to both further broaden its client base and to expand its product offering.

“We are honoured to be named among the InsurTech100, alongside such innovative leaders in the industry.” states Connor Atchison, Co-Founder & CEO of Wisedocs. “This recognition highlights our commitment to developing innovative solutions that address some of the most pressing challenges facing the insurance sector today and in the years to come. As we continue to grow, our focus remains on empowering insurers and stakeholders within the insurance industry with the tools they need to streamline processes, enhance customer experiences, and drive operational efficiency in an ever-evolving market.”

A full list of the InsurTech100 for 2024 and detailed information about each company is available to download for free at www.TheInsurTech100.com.

About Wisedocs: 

Wisedocs is the medical record indexing, review, and AI summaries software platform for insurance carriers, healthcare providers, law firms, and TPAs. The company serves the auto, liability, disability, workers’ compensation, tort law, and similar markets. It provides an easy-to-integrate solution for improved accuracy and speed to deliver improved outcomes in processing medical records. Wisedocs raised $12.7M in an oversubscribed series A round in 2024 and launched their game-changing AI Medical Summaries platform in 2023. Established in 2021, and expanded across North America, Wisedocs is at the forefront of change in the claims ecosystem.

Contact:

Amy Mingopoulos, Marketing Coordinator, amy@wisedocs.com

About Fintech Global: 

FinTech Global is the world’s leading provider of FinTech information services, B2B media products and industry events. We inform, promote and connect FinTech buyers, sellers, investors and innovators worldwide. We serve a network of over 300,000 FinTech professionals from market-leading organizations – financial institutions, technology innovators, corporate investors, venture firms and expert advisory firms. We enable them to get the information they need to make better business decisions and to connect and engage with the people and organisations they want to do business with. For more information, visit fintech.global.

‍Contact:

Mariyan Dimitrov, Director of Research