This article showcases our top picks for the best Texas based InsurTech companies. These startups and companies are taking a variety of approaches to innovating the InsurTech industry, but are all exceptional companies well worth a follow.
We tried to pick companies across the size spectrum from cutting edge startups to established brands.
We selected these startups and companies for exceptional performance in one of these categories:
- Innovative ideas
- Innovative route to market
- Innovative product
- Exceptional growth
- Exceptional growth strategy
- Societal impact
Top Texas InsurTech Companies
Bestow is an insurance technology company offering a platform that makes life insurance accessible to families. It builds products and technologies that expand the market and reimagines life insurance distribution.
Bestow’s proprietary, entirely digital life insurance platform will help propel growth into new insurtech, carrier, and partner channels. The approach that the company uses enables busy families to seek and purchase affordable policy rights from their mobile device in a matter of minutes.
In addition to its direct-to-consumer arm, Bestow provides APIs that enable partners to offer life insurance coverage to their customers with ease. Jonathan Abelmann and Melbourne O’Banion headquartered the startup in Dallas, Texas in 2016..
CyberFortress is building a new way to protect online revenue. They are building a new kind of online business interruption policy designed for small business.
Narrowly-focused and parametric in nature, this policy will begin paying out within 24 hours of a cyber incident – providing valuable cash-on-hand to help their customers weather the immediate storm. They are building a machine that continuously collects the evidence of technology choices ecommerce businesses make – thousands of features per domain – and makes sense of this noise via machine learning.
They believe that it is these behavioral vectors over time (not a point-in-time snapshot of a business’s technology footprint) that best proxy cyber risk. They then use this prediction to determine pricing and generate a risk score that any business owner can use to lower their risk of downtime..
AgencyKPI is a business intelligence platform intended for insurance networks, independent agencies, and insurers. Its platform is designed to address and manage the overabundance of data produced by the fragmented, legacy systems found across networks, agencies, carriers, and wholesalers.
The company creates a platform for collaborative planning, operational efficiencies, and benchmarking in the insurance industry. Founded by Bobby Billman and Trent Richmond in 2017, and is headquartered in Austin, Texas..
KoiReader Technologies, Inc.
KoiReader is a global award winning FreightTech100 company that is developing a Smart Operations Platform for Logistics & Supply Chain industry. FreightTech 100 highlights the most innovative and disruptive companies across the freight industry, featuring both cutting-edge upstarts and top-notch traditional powers.
We are post revenue and have won business as well as awards in Germany, UK, Denmark, Singapore, and USA, and our clients are from the Maritime, Logistics, Trade, Transportation, Insurance, and Supply Chain industries.. .
Covie Systems develops a platform that connects innovative businesses to insurance data. Its platform solution retrieves and validates insurance records in real-time, directly from the issuing carrier.
One integration allows users to work with data from any of its constantly growing list of insurers. The company was founded by a team of software and insurance industry experts on a mission to make insurance data more accessible and easier to work with.
They are empowering the next class of innovative builders to craft a better experience around insurance, eliminate inefficiencies, and effectively manage risks.. .
The Sidekick Check-In™ is a powerful team-run tool that dramatically boosts customer growth, rescues lost revenue and leverages declining resources. Critical responsibilities that drive growth stop slipping through the cracks when team members work together to coordinate the day’s priorities using our stand-alone Check-In™ app.
It’s Like Everyone Gets an Assistant.™. .
Flueid Software Corporation is on a mission to fundamentally change how the traditional real estate transaction closing process works. With broad strategic, design, technology and operational experience within these industries, our goal is not to eliminate critical functions within the process, but to re-think them and make them smarter, which ultimately increases productivity and reduces redundancy and cost.
Working with major title insurance, real estate and mortgage lending partners, Flueid develops key solutions that streamline real estate transaction workflow, automate the delivery of risk-eliminating information during closing, and optimize business processes throughout the entire process.. .
The Claimatic Intelligent Assignment Engine (IAE) is a cloud-based, SaaS, insurance claims application that automates the distribution of claims using real-time, dynamic data such as location tracking, license management, skill sets, calendar/availability, vendor panel preferences and other data, to identify the optimal resource to service a claim in less than a second, removing days from the claim cycle time while vastly improving the claim experience. The technology is able to assign up to 250 claims in seconds, where it would take the average supervisor 22-27 hours to assign the same number.
IAE positively impacts every critical cost component of insurance claims management through its ability to utilize real-time information to automate triage, routing, and assignment workflows. Insurance carriers’ experience reductions in total claims handling expenses by up to $1000 per claim by minimizing overall cycle time, vehicle and fuel expenses, litigation, and fraud expenses – as well as an increase in customer satisfaction and retention.
Claimatic’s competitive advantage derives from the uniqueness of IAE as the only application available that offers the power of sophisticated claims assignment optimization through a cloud-based SaaS solution: * IAE delivers operational efficiency and cost reduction using multi-factor analysis and predictive analytics to generate optimized, real-time claims routing and assignment decisions. * IAE was designed to enhance – not replace – insurance carriers’ existing software investments.
IAE can be integrated with existing claims management systems and deployed in 60 days, without the need for manual on-site updates, training time, and lengthy client involvement during rollout and updates.. .
The Brokerage, Inc., founded in 1976, is a national insurance marketing organization specializing in life, health and accident products. They are proud to provide products and marketing services to over 10,000 actively appointed independent agents nationwide.
Recruiting and upline contracts are available for qualifying agencies through The Brokerage, Inc.. .
PCMS is a software company comprised of individuals with one goal in mind: creating comprehensive, functional, modern applications for the P & C insurance industry. PCMS experienced strategists, technicians, and creators.
They deliver exceptional results for their clients by gaining a deep understanding of their needs, customers and target market, and then merge their knowledge & ideas with the highest level of execution. Contact us, and they will tell you how their solutions will help you..
We design experiences to transform business YellowFirst (‘#YF’) is a services and consulting company formed by a group of passionate folks with an international reputation for shaping original, feasible and effective service and product solutions. We believe that a successful project is rooted in a deep understanding of its objectives and we take great care to listen to our clients, the end-users and each product influencer often forging long-term relationships.
Although our approach has been cited as original and unconventional, our underlying principles are transparency, simplicity and a belief that functional need and emotional response demand equal consideration. YF is led by a group of partners all of whom remain very much hands-on.
We have chosen to keep our company relatively niche thus preserved our agility, our humility and our focus for quality. Our years of collective experience has driven us to believe that a successful product experience is as good as the value it generates for its end-users, and the quality of visible and invisible ingredients synchronized by the right confluence of talent.
We are happy to serve as an extended arm of your product team/s or form a customized and dedicated team for a specific project. “Take Pride in Creating Product Experiences that are Real”.
QLAdmin Solutions vision is to be a prominent insurance technology partner known for great people, tailored solutions and peerless support. They work hard to realize their vision every day.
Every decision begins with asking what’s best for the client and their system users.. .
Lewis & Ellis
Since L&E was founded in 1968, they have charted a course of significant growth built on dedication to professional competence, integrity, and service. They currently have over 40 actuaries serving clients coast-to-coast in all facets of life, health and property & casualty insurance operations, regulatory compliance, employee benefits, expert testimony, and life settlements.
Their reach is supported by offices in Dallas, Kansas City, London, Baltimore, Denver and Indianapolis. Innovative computing technology has been a cornerstone of their ability to provide cost-effective solutions to difficult problems.
They have developed a suite of Windows-based actuarial software to assist their consultants and outside actuaries in completing many of their activities in an efficient and effective manner. This includes an actuarial pricing and projection system, a statutory and tax reserve factor generator for traditional life plans, an exposure study and Monte Carlo simulation system for traditional life insurance, and a life settlement pricing system.
L&E continues to improve and upgrade its existing portfolios of software, while at the same time developing new applications that will allow insurance professionals to manage their responsibilities more effectively.. .
Sign your lease, choose SetMeUp! SetMeUpGroup has a mission to make the logistics of life a little easier through our streamlined, tech-influenced products and services. The SetMeUpInsurance and SetMeUpPower brands provide digital insurance and energy solutions to consumers and businesses nationwide, with a strong focus on the multifamily industry.
Our flagship product, SetMeUpRenters, delivers discount-qualified renter’s insurance policies instantly and digitally. Our proprietary database of properties provides pre-underwritten discounts clients deserve – fire sprinklers, alarms, and security discounts are all applied to the quote before purchase – lowering insurance premiums and saving money! Our policies are landlord approved and automatically communicated with apartment managers and leasing professionals, including direct integration with existing SaaS-based property management software systems.
SetMeUp’s comprehensive, multi-family insurance programs protect your investment while removing everyday insurance hassles away from tenants and staff.. .
ClaimSonic is an online industrial strength claim adjudication software package. Newly developed and modern technology built for Municipalities, Third Party Administrators (TPA’s) & Carriers.
Browser based technology allows users to adjudicate claims from home, on the road, or in the office.. .
RealTimeExpress is an online small commercial comparative rater. It has been our flagship product for many years.
In fact, over 20,000 agents have used our software since the year 2000. What does it do? RealTimeExpress gives the independent agent or wholesaler the opportunity to enter quote information (BOP, Workers Comp, & Commercial Auto) one time while receiving multiple quotes back from their carriers in real-time..
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