PWC recognizes Squirro as a high potential Insurtech startup

InsurTech is one of the fastest-growing areas in technology with the global InsurTech market anticipated to grow by USD 15.63 billion between 2019 and 2023 as presented by Technavio. The growing market is also driven by technologies such as big data and Artificial Intelligence (AI). To catch up with the trend, PwC organizes the PwC Scale InsurTech Programme to identify and support the most outstanding companies. This year, the program was held for the second time in London.

During 11 week-programme, the startups received tailor-made support from the UK PwC InsurTech team, who helped to identify commercial opportunities with potential clients. Additionally, the cohort undertook a business development curriculum which provided valuable insight into areas, including, sales and marketing, leadership and culture as well as how to approach fundraising. As such, the teams had the opportunity to refine their business model and value propositions, raise their profile within the insurance industry and prepare their business for growth internationally.

The Swiss Insurtech startup Squirro was among the participants, identified by PWC as having great potential to scale within the insurance industry. Squirro operates a self-learning AI-platform keeping insurers in the know and recommending what’s next. Ready-made applications help with deal origination, customer relationship management and more efficient underwriting. This allows an increase in efficiency and output.

“There is a growing demand for AI-based solutions in insurance, and with our suite of applications tailored for specific insurance use cases, Squirro is well-positioned to meet that demand. We are delighted to be recognized by PwC and look forward to working with them in the future to help insurance firms use tech to meet their business objectives” as stated by Steven Grinberg, Senior Marketing Director at Squirro.

(Press release/RAN)