The unveiling of the inaugural BusinessCloud InsurTech 50 sees Honcho clinch the coveted top spot in the listings.
The InsurTech 50 is a ranking of the UK’s top 50 InsurTech businesses, listing the most innovative UK insurance technology firms and celebrating the startups and more established businesses who are bringing new insurance possibilities to consumers and businesses around the world.
The ranking was decided by a mix of public votes and a specialist panel of judges, and the top 10 ranked insurtech 50 businesses are:
1 - Honcho
2 - DeadHappy
3 - Sprout.ai
4 - Cuvva
5 - UInsure
6 - Nimbla
7 - Wrisk
8 - FloodFlash
9 - Previsico
10 - Marshmallow
We are delighted to achieve the top spot in the Insurtech 50 among such fantastic insurtech businesses, and it is a real validation of what Honcho are doing to shake up motor insurance distribution.
Speaking about the Insurtech 50, Gavin Sewell, our co-founder and CEO, said:
Being ranked at top place in the first Insurtech 50 is a great achievement for Honcho. Over the past couple of years we’ve been steadily expanding our portfolio and finessing our platform, and with the changing regulatory landscape in insurance and shifting consumer behaviour in the automotive sector, now is a really exciting time for us.
Over the coming months you will see some major news from Honcho as our strategy to use our platform to support other businesses kicks up several gears… watch this space!
Commenting on Honcho’s inclusion in the Insurtech 50, BusinessCloud Editor Jonathan Symcox said:
Honcho’s reverse auction marketplace is a true game-changer when it comes to fixing fundamental problems in the insurance market.
Customers today want to be served with competitive quotes for policies that serve their needs rather than the traditional ‘race to the bottom’ approach of comparison sites. Cheapest isn’t always best.
It is one of many disruptive UK businesses to feature on our first InsurTech 50 ranking, which celebrates tech innovators of all sizes.
The ranking was compiled alongside BusinessCloud’s FinTech 50 and RegTech 50, for businesses creating technology for finance and compliance respectively.
Judge Victoria Roberts, director of Fintech Delivery Panel and Insurtech Board at Tech Nation, said:
The strength of innovation within UK FinTech is always a true inspiration, and there’s so many fantastic UK companies leading the way internationally in banking, payments, InsurTech and RegTech.
By addressing consumer challenges and enhancing business productivity, FinTech is designing the future of personal finances and driving growth in the economy.