Celebrating Welsh Innovation: Four FinTech Wales Members Among the UK’s Top 50 InsurTech Innovators

Four welsh fintechs have earned well-deserved spots in BusinessCloud’s InsurTech 50, a ranking of the UK’s most innovative insurance technology creators for 2024. This annual listing showcases the pioneering companies leading the way in transforming the insurance industry, highlighting those who are reshaping the landscape with technology-driven solutions to meet today’s evolving challenges.

This year, PeppercornAI, pH Innovate, Drively, and Coincover were all featured, further cementing Wales’s role as a hub for insurance technology and FinTech innovation.

1. PeppercornAI (Ranked #4)
   PeppercornAI is revolutionising the insurance operating model through its conversational AI platform, Pipr, the world’s first AI system designed specifically for insurance. By streamlining processes and reducing operating costs, PeppercornAI’s technology empowers insurers to improve risk selection and deliver more tailored, efficient service. Their high ranking reflects their commitment to advancing intelligent automation in the industry, right from the heart of Wales.
2. pH Innovate (Ranked #11)
   Known for developing data-driven insurance products, pH Innovate helps insurers harness data in ways that optimise policy offerings and customer engagement. Their inclusion among the top 15 underscores their significant impact on transforming data utilisation in the insurance sector, allowing businesses to make smarter, more informed decisions.
3. Drively (Ranked #29)
   Drively specialises in providing telematics-based motor insurance solutions that benefit both insurers and drivers. Using data analytics, Drively offers insurance tailored to drivers’ specific behaviour and risk profiles, making it a prime example of how Welsh innovation is supporting safer, more data-driven experiences on the road.
4. Coincover (Ranked #42)
   A safeguard for the digital age, Coincover offers solutions to protect cryptocurrency investments, an increasingly critical area within the fintech landscape. As cryptocurrency becomes a more prevalent financial tool, Coincover’s services are helping insurers and individuals alike manage digital assets with confidence and security.

These placements highlight the ingenuity and dedication of Welsh fintech companies in shaping the future of insurance. At FinTech Wales, we’re proud to support these innovators as they push boundaries, enhance customer experiences, and demonstrate the power of technology to address real-world challenges.