Open named a leading innovative InsurTech in global InsurTech100 ranking

Open named a leading innovative InsurTech in global InsurTech100 ranking

Insurtech Open was recognised by FinTech Global as an InsurTech100 Company for 2021.  The InsurTech100 is an annual list of 100 of the world’s most innovative InsurTech companies selected by a panel of industry experts and analysts.

FinTech Global director 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.”

“We’re very proud to see Open added to the list of InsurTech100 companies  that have become success stories in the transformation and acceleration of insurance, an industry that has traditionally lagged in terms of innovation,” says Jason Wilby, Co-Founder at Open. “Insurance is a sleeping giant when it comes to technology and we’re pleased to be on a mission to provide the fastest insurance, at the best price, for the world.”

Open’s car, home and travel insurance products are digitised from end-to-end, making insurance simple and fast for everyone, everywhere. Open’s customers enjoy a fast, predictable customer experience, with 80% of insurance tasks - from quote to claim - being completed automatically or via digital self-service experiences.

Having proven the model for connected insurance in Australia with over 80,000 customers, Open is now expanding internationally, first to New Zealand, launching in late 2021, and then to the UK, targeting a launch of mid-2022.

Open is capitalising on a global opportunity for connected insurance. “Imagine a world in which you only pay for car insurance based on how much you drive, your home contents policy automatically updates when you buy new tech, and your travel insurance automatically activates when you land in another country. These are the possibilities Open’s connected insurance offers today through our direct to consumer brand Huddle, as well as partnerships with leading brands such as Telstra Plus, ahm, and On by EnergyAustralia,” says Wilby.

FinTechs, car and home lenders, telcos, utilities and insurers are partnering with Open to create new revenue streams by offering embedded insurance. Partners can embed insurance into any app or website in just a couple of hours, via Open’s powerful APIs, making it simple to share data, pre-populate quotes, and offer personalised savings.

Discover the full list here: https://fintech.global/insurtech100/

About Open

Open is on a mission to offer the fastest insurance, at the best price, for the world. Businesses of all sizes embed Open’s car and home insurance into their digital experiences.

Our flagship products are available under the Huddle brand, and also as a bespoke white-label solution. We work with many large brands and leading tech companies such as Telstra Plus, Plenti, ahm, and On by EnergyAustralia.

Open operates across Australia and New Zealand today, and soon will expand to the UK and Europe. We are proud to count Airtree Ventures (AU), Movac (NZ), Latitude (UK), Hollard Insurance (AU), Seven West Media (AU) and Five V (AU) amongst our investors. Open products are underwritten by Hollard Insurance in Australia and Tower in New Zealand.

We believe in using business as a force for good and are a certified B Corporation.

For more information visit beopen.com or contact media@beopen.com