Revealed: The Insurance Industry’s 5-Star Technology and Service Providers of 2025
New York, NY – July 29, 2025 – Insurance Business has unveiled its highly anticipated list of the Global 5-Star Technology and Software Providers for 2025, recognizing the top insurtech companies driving innovation in the insurance sector. The selection, announced on July 29, 2025, highlights firms delivering cutting-edge solutions that enhance efficiency, customer experience, and operational resilience. The evaluation process, spanning 15 weeks, involved one-on-one interviews with brokers, insights from thousands of industry professionals, and nominations from technology providers detailing their competitive advantages. Below is an overview of the standout providers and trends shaping the industry, based on Insurance Business reports and related sources.
2025 5-Star Technology and Service Providers
While the complete list of 2025 winners has not been fully disclosed in available sources, Insurance Business confirmed that the selection process mirrored its rigorous 2024 methodology, prioritizing firms that streamline underwriting, claims processing, and customer engagement through advanced technology. The 2024 list, which included 25 global companies, featured notable names like Zywave, Parascript, and Breathe Life, recognized for their AI-driven platforms and customer-centric solutions. Similar criteria were applied for 2025, with an emphasis on providers addressing digital transformation, AI adoption, and customer expectations. Specific 2025 winners highlighted in recent posts include:
- Susco’s RocketClaims: Named a 2025 Insurance Luminary, this platform was praised for its tech-driven workflows and automation, accelerating claims processing and enhancing transparency for policyholders. Its recognition underscores its role in simplifying complex claims processes with user-friendly technology.
- ICEYE: Awarded “Claims Technology Innovation of the Year” at the 2025 U.S. Insurance Awards by Business Insurance Magazine, ICEYE’s Wildfire Insights solution delivered building-level damage assessments with 99% precision during the 2025 Los Angeles wildfires, revolutionizing natural catastrophe response.
Other likely contenders for 2025, based on their 2024 performance and industry trends, include UK-based firms like Cytora, Instanda, Artificial Labs, and Cuvva, which have been lauded for their AI-powered risk engines, no-code platforms, and innovative policy administration tools. These companies, part of the 2024 Global 5-Star list, align with 2025’s focus on scalability and digital-first solutions.
Key Trends Driving 2025 Insurtech Innovation
The 2025 winners reflect the insurance industry’s shift toward a digital, customer-centric future. Industry reports, including insights from Insurtech Insights, Deloitte, and McKinsey, highlight several trends shaping the selection of top providers:
- AI and Generative AI Integration: AI remains the top innovation priority, with 36% of insurance leaders surveyed by Digital Insurance prioritizing it for 2025. Providers like Susco and ICEYE leverage AI for faster claims processing and precise risk assessment. Small language models (SLMs) are gaining traction for insurance-specific tasks, offering higher accuracy than large language models for underwriting and policy servicing.
- Customer-Centric Digital Platforms: Insurers are adopting mobile-first and self-service platforms to meet rising consumer demand for autonomy. Companies like Cuvva, with its hourly car insurance app serving over 1.3 million customers, exemplify this trend, offering user-friendly interfaces and real-time policy management.
- Geospatial Intelligence and Proactive Risk Management: ICEYE’s wildfire solution highlights the shift from reactive claims handling to proactive risk management using geospatial data. This enables insurers to issue First Notice of Incident (FNOI) alerts, reducing costs and enhancing customer trust.
- Process Automation and Operational Efficiency: Robotic Process Automation (RPA) and AI are streamlining underwriting and claims, as seen with providers like Artificial Labs and Instanda. These tools reduce manual processing, with platforms like Adacta’s AdInsure cutting delays in back-office operations.
- Embedded Insurance and Ecosystems: Collaboration with tech providers and cross-industry platforms is driving embedded insurance, integrating coverage into customer journeys like automotive or real estate purchases. This trend, expected to account for 30% of global insurance revenues by 2025, relies on robust APIs and cloud infrastructure from leading providers.
Industry Impact and Outlook
The 2025 5-Star providers are addressing critical challenges, including a projected $1.86 trillion global protection gap and rising consumer expectations for personalized, digital-first experiences. PwC notes that insurers must shift from a “promise to pay” to a “promise to help” model, emphasizing prevention through technologies like IoT and predictive analytics. The adoption of low-code/no-code platforms, as highlighted by EasySend, allows insurers to deploy solutions rapidly, enhancing agility in a competitive market.
Brokers and industry experts, such as Chris Tunnecliff of Crawford & Company, emphasize that top providers deliver measurable value by improving efficiency, accuracy, and customer satisfaction. However, challenges remain, including regulatory hurdles like the EU’s Digital Operational Resilience Act (DORA), which demands enhanced cybersecurity by January 2025, and cautious AI adoption due to potential risks like “nuclear verdicts” driven by plaintiff-side AI use.
Conclusion
The 2025 Global 5-Star Technology and Software Providers, including standouts like Susco’s RocketClaims and ICEYE, are redefining the insurance landscape with AI, automation, and customer-centric solutions. As the industry navigates a $271 billion IT spending surge and increasing digital demands, these providers are pivotal to closing the protection gap and driving sustainable growth. For the full list of winners, visit Insurance Business’s website at www.insurancebusinessmag.com, where the report is published in July 2025.
*This article is based on *Insurance Business* reports, industry insights from Deloitte, McKinsey, and Insurtech Insights, and posts on X. For further details, check www.insurancebusinessmag.com or follow updates on X.*