SAN MATEO, Calif.--(BUSINESS WIRE)--Pinpoint Predictive, which provides Property and Casualty insurers with the first top-of-funnel, deep-learning-powered loss predictions and risk scores, has been named to the 2022 InsurTech 100 for its cutting-edge use of behavioral economics and advanced AI to create unmatched risk selection capabilities for carriers and MGAs at the beginning of the consumer journey. This is the second consecutive year that Pinpoint has earned a spot on the list.
Produced annually by FinTech Global, InsurTech 100 finalists are selected by a panel of analysts and industry experts. The list is the go-to resource for insurers looking to evaluate the latest digital insurance technologies and identify those most likely to have a lasting impact on the industry. This year's process to be selected as a top 100 InsurTech was more competitive than ever. The panelists voted from a list of over 1,800 company entries. The finalists were chosen for their “innovative use of technology to solve a significant industry problem, or to generate efficiency improvements across the insurance value chain.”
FinTech Global director Richard Sachar said, “Faced with seismic shifts in consumer behavior, the so-called 'race to digitalize' and challenging market conditions, insurers have their work cut out for them. The InsurTech100 lists helps senior insurance executives in the industry filter through the noise in the market by highlighting the tech companies transforming sectors such as underwriting, embedded insurance, pricing, distribution and data & analytics.”
“We are thrilled to be recognized as a top 100 industry leader two years in a row,” says Pinpoint CEO Scott Ham. “The industry is facing continued profitability pressures in major part due to the imperative to grow through digital and direct channels where risk selection has been ineffective or absent, as well as ongoing social inflation that has driven higher insurer claim payouts and loss ratios. Pinpoint is positioned well to empower its clients to directly address these vital drivers.”
Since its inclusion in the InsurTech 100 last year, Pinpoint has continued to advance the application of top-of-funnel actuarial loss predictions and risk scores with implementations in marketing, book rolls, and renewal strategies.
The complete list of the InsurTech100 can be found at TheInsurTech100.com.
Pinpoint Predictive provides Property and Casualty insurance unmatched risk selection at the beginning of the customer journey. Pinpoint has brought to market the industry’s first deep-learning-powered platform, which reveals 8-9 figures in bottom-line value for most insurers by identifying unpriceable risks in individual loss cost, as well as propensities for litigation, SIU referral, cancellation, and premium leakage earlier and more accurately than previously possible. Pinpoint provides the largest and fastest improvements to loss ratios in the P&C ecosystem, generating immediately deployable predictions.