TORONTO--(BUSINESS WIRE)--Risk Control Technologies Inc. (RCT), the leading provider of Loss Control software solutions to the Insurance Industry, is pleased to be recognized in FinTech Global’s InsurTech100 list for 2022.
The InsurTech100 is an annual list of the world’s most innovative InsurTech companies selected by a panel of industry experts and analysts. The list highlights companies that insurance industry leaders need to know as they consider and develop their digital transformation strategies.
Gleaned from over 1,400 nominees, the InsurTech100 is chosen based on five primary criteria:
- Industry significance of the problem being solved
- Potential cost savings, efficiency improvements, value chain impacts and/or revenue enhancements generated for clients
- Innovation of the technology solution
- The importance that insurance executives know about this company
- Growth, in terms of capital raised, revenue and customer traction
FinTech Global director Richard Sachar stated, “Faced with seismic shifts in consumer behaviour, the so-called “race to digitalise” and challenging market conditions, insurers have their work cut out for them. The InsurTech100 lists helps senior insurance executives in the industry filter through the noise in the market by highlighting the tech companies transforming sectors such as underwriting, embedded insurance, pricing, distribution and data & analytics.”
According to David Da Costa, CEO of RCT, “insurance companies are facing three major challenges: executing digital transformation initiatives, reducing claims and simultaneously improving loss ratios, and differentiating their business to be competitive. Limited resources and project capacity,” Da Costa said, “make it difficult for insurance organisations to digitise. They have to balance the top priority projects, with the lowest risk projects, while getting the fastest time-to-value for multiple departments."
To review the full InsurTech100 list, including RCT’s company profile and executive interview, visit www.TheInsurTech100.com.
About Risk Control Technologies Inc.
Risk Control Technologies Inc. (RCT) is a market-leader Loss Control software provider with over 10 years in the space and 140+ customers. RCT was built to help insurance companies improve their Loss Control operations and reduce risk in their business. We provide a flexible and configurable platform which requires minimal IT resources to optimize all Loss Control activities, maximize the quality of client engagements, and accelerate analytics. RCT’s platform, RiskHub, is comprised of over 30 core modules and four Growth Suites. Visit www.riskcontroltech.com to learn more.
