Newfront, a tech-enabled, full-service brokerage, today announced that it has been selected as winner in the sixth annual FinTech Breakthrough Awards program conducted by FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global FinTech market today.
Newfront is an insurance brokerage that leverages technology to vastly simplify the buying process for clients and the selling process for brokers. Newfront is focused on providing world-class advisors to their clients via a deep bench of seasoned insurance advisors, risk management professionals, benefit consultants, and retirement service experts with specialization across 18 industries.
The platform connects risk and capital by removing the complexity and pain of transacting insurance. Newfront’s platform enables a shift from capturing data at a static point in time to analyzing a continuous data stream collected from public and private data sources. This improves client outcomes and is the foundation for new products that shift the business from annual policy cycles to a service that allows for continuous evaluation and management of client risk. Importantly, the data model and automated workflows modernize the way insurance is being done while delivering excellent client service.
“Insurance is essential to every modern business, yet most of the industry operates with outdated processes and antiquated technology, as many clients and brokerages spend excessive time on manual data entry and processes – time that clients could devote to their businesses and brokers could use to provide clients with expert risk management guidance,” said James Johnson, Managing Director, FinTech Breakthrough. “Newfront is energizing the industry’s evolution with a ‘breakthrough’ insurtech platform and service approach, creating new processes that provide better service for clients and better opportunities for brokers. Congratulations to the Newfront team on being our choice for ‘Best InsurTech Startup’ for 2022.”
The FinTech Breakthrough Awards is the premier awards program founded to recognize the FinTech innovators, leaders and visionaries from around the world in a range of categories, including Digital Banking, Personal Finance, Lending, Payments, Investments, RegTech, InsurTech, and many more. The 2022 FinTech Breakthrough Award program attracted more than 3,950 nominations from across the globe.
“We are thrilled to be recognized in this way by FinTech Breakthrough. While other companies are trying to disrupt the industry with technology, they are ignoring the relationship between brokers and the businesses that rely on their expertise. This failure to evolve represents a failure by the industry to serve the needs of today’s customers,” said Spike Lipkin, Newfront CEO. “At Newfront, we believe that there has never been a better time to innovate and transform the insurance transaction, adding improved service standards and new products. We’re at the start of this journey and are excited about how we are building the modern insurance experience to improve the industry for our clients.”
By bringing a scalable approach to service managed to SLAs, Newfont provides transparency that benefits clients, sets, and then exceeds their expectations. Additionally, Newfront relies on a client-centered culture and a long-term focus on entrepreneurial innovation. As such, in the past year, they launched the first digital client and broker experience in the insurance industry.
About Newfront
Newfront is transforming the delivery of risk management, employee experience, insurance, and retirement solutions by building the modern insurance platform. Transparent data delivered real-time translates into a lower total cost of risk and greater insights. Newfront makes insurance work for you.
Headquartered in San Francisco, Newfront has offices throughout California, Washington, Illinois, and New York and is home to more than 750 employees who serve clients across the United States and globally. Learn more about building the Modern Insurance Experience here.
About FinTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for technology innovation and leadership around the globe, the FinTech Breakthrough Awards program is devoted to honoring excellence in Financial Technologies and Services companies and products. The FinTech Breakthrough Awards provide public recognition for the achievements of FinTech companies and products in categories including Payments, Personal Finance, Wealth Management, Fraud Protection, Banking, Lending, RegTech, InsurTech and more. For more information visit FinTechBreakthrough.com.
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