Montoux, the Decision Science and Actuarial Automation platform for life and health insurers, was recognized on both 2021 Insurtech100 and AIFintech100 lists by FinTech Global. These lists identify ‘The world’s most innovative companies’ working in insurance and fintech that ‘every leader needs to know about in 2021′.’
Progress in life and health insurance is stifled by legacy technology. Valuable and expensive resources, particularly actuarial resources, are often wasted performing manual tasks. The use of data and cloud technology to drive decision making is substantially behind other comparable industries.
“The ‘if it ain’t broken, don’t fix it’ mindset needs to change at an influential level within life insurance organizations,” says Andrew Gordon, VP and Head of Life Insurance, Annuity, and Underwriting Solutions at Guardian Life.
Montoux’s Decision Science and Actuarial Automation platform modernizes life and health insurance by enabling data-driven decisions, reduced expenses, and improved policyholder wellness. The Montoux platform incorporates a unique combination of AI and ML technologies, cloud scalability, data science, and actuarial science.
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“We’re thrilled to be recognized as one of the most innovative companies serving the world’s leading life and health insurers,” says Montoux CEO, Geoff Keast. “More and more insurers are addressing long-term challenges and exciting opportunities with AI-driven solution providers like Montoux. We’re working with our customers every day to push the industry forward, leveraging Decision Science and Actuarial Automation to help insurers and the communities they serve thrive.”
Of the InsurTech100 list, FinTech Global director Richard Sachar says, “Consumers and businesses increasingly expect insurance cover to be offered via a range of digital and offline channels, and insurers that fail to keep up with the latest technologies and innovation will be less competitive and lose market share over time. The InsurTech100 list helps senior decision-makers in the industry filter through all the vendors in the market by highlighting the leading companies in sectors such as underwriting, pricing, IoT devices, distribution and data & analytics.”
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