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This Bangalore-based Company made the Global InsurTech100, Twice.

3 minutes, 29 seconds read

The much-awaited Global InsurTech100 list is out now! This prestigious list compiled by FinTech Global comprises 100 of the most innovative tech-startups transforming the digital insurance landscape through innovative products and solutions. They are selected by a panel of analysts and industry stalwarts from an exhaustive list of over 1200 technology firms, who are solving the most pressing challenges in insurance today. 

This year three Indian technology companies, the others being Quantiphi and Pentation Analytics, made the list. Mantra Labs has also been featured among the most innovative InsurTechs across the world for the second straight year in a row, along with Pentation Analytics. 

InsurTech100 companies offer solutions that enhance functions across the entire insurance value chain, including marketing & distribution, underwriting & risk rating, claims, and customer retention, and they incorporate the latest technologies, such as big data analytics, blockchain, artificial intelligence, the internet of things and bot-assistants. 

In the past couple of years, the insurance industry has seen disruption to several functions across the value spectrum thanks to innovations made by InsurTechs. This has certainly increased budgets for InsurTech collaboration and the adoption of next-gen technologies within their corporate strategies. According to FinTech Global, over $7bn has been invested in InsurTech solution providers since 2015 by insurers looking to benefit from the huge impact new digital models will have on the industry.

This year’s cohort is diverse and comprises a wide range of capabilities — with 20% of the companies featured having a focus on AI-based solutions, 42% of firms spread across auto insurance, 38% across health insurance, and 3% of companies that develop insurance specific chatbots. The US covers a major portion of the global InsurTech100 list with 39 InsurTechs, followed by the UK with 20 startups being listed. 17 companies featured in the report are from France, India, Singapore, and Germany. The remaining companies come from Brazil, South Africa, Hong Kong, Sweden, Netherlands, and Australia. 

Evolving Digital Insurer Landscape

Changing business dynamics has brought a radical shift within the insurance industry. This year, with almost every sector being hit by the pandemic COVID-19, user sentiments towards technology have evolved. As predicted by many industry experts AI-driven technologies are being implemented to generate interest among the millennial and Gen Z generations. Insurtech is well poised above all else, to satisfy even the most unique coverage needs, removing traditional challenges like ownership from the mix.

With the growing popularity of digital channels, the importance of Digital Experience (DX) is also rising amongst the users. Insurance companies are trying to match the ever-changing financial and protection needs of the customers by building self-service portals for quick access and instant solutions. 

Last year (2019), the global InsurTech100 recognized 6 Indian companies – Acko, Aritivatic, Mantra Labs, Pentation Analytics, PolicyBazaar, and Toffee Insurance.

According to FinTech’s Global director Richard Sachar, “The impact of the most innovative InsurTech companies will be measured in billions of dollars over the next few years”. 

How Mantra Labs impacts the Insurance Value Chain

Mantra Labs is an AI-driven Products & Solutions Firm. We design and build Intelligent Experiences for the Insurance Industry. Mantra Labs offers three core products for solving the most pressing challenges faced by InsurTechs around — claims processing, workflow management, process automation, onboarding, leads maximization, customer experience & engagement. Here are some of the products by Mantra Labs for the insurance industry-

FlowMagic is a visual AI platform for insurer workflows. With FlowMagic, insurers can create, customize, and monitor workflows. It is built to scale across the insurance value chain. It comprises pre-built AI-powered applications which can be strung together to execute any workflow.

Lead Conversion Administrator is an AI-enabled tool that allows insurers to lower lead leakage and maximize capture from the sales funnel for conversion.

Multilingual AI-Powered Chatbot, Hitee allows insurers to fulfill routine customer support tasks via Natural Language Processing (NLP) and Machine Learning (ML) models trained on insurance-specific parlance.

Mantra Labs has been deeply involved in developing technology solutions for some of the World’s leading insurers like SBI General, Care Health (formerly Religare), DHFL Pramerica, Aditya Birla Health, AIA Hong Kong along with unicorn consumer startups like Ola, Myntra, and Quikr.

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Why Netflix Broke Itself: Was It Success Rewritten Through Platform Engineering?

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Let’s take a trip back in time—2008. Netflix was nothing like the media juggernaut it is today. Back then, they were a DVD-rental-by-mail service trying to go digital. But here’s the kicker: they hit a major pitfall. The internet was booming, and people were binge-watching shows like never before, but Netflix’s infrastructure couldn’t handle the load. Their single, massive system—what techies call a “monolith”—was creaking under pressure. Slow load times and buffering wheels plagued the experience, a nightmare for any platform or app development company trying to scale

That’s when Netflix decided to do something wild—they broke their monolith into smaller pieces. It was microservices, the tech equivalent of turning one giant pizza into bite-sized slices. Instead of one colossal system doing everything from streaming to recommendations, each piece of Netflix’s architecture became a specialist—one service handled streaming, another handled recommendations, another managed user data, and so on.

But microservices alone weren’t enough. What if one slice of pizza burns? Would the rest of the meal be ruined? Netflix wasn’t about to let a burnt crust take down the whole operation. That’s when they introduced the Circuit Breaker Pattern—just like a home electrical circuit that prevents a total blackout when one fuse blows. Their famous Hystrix tool allowed services to fail without taking down the entire platform. 

Fast-forward to today: Netflix isn’t just serving you movie marathons, it’s a digital powerhouse, an icon in platform engineering; it’s deploying new code thousands of times per day without breaking a sweat. They handle 208 million subscribers streaming over 1 billion hours of content every week. Trends in Platform engineering transformed Netflix into an application dev platform with self-service capabilities, supporting app developers and fostering a culture of continuous deployment.

Did Netflix bring order to chaos?

Netflix didn’t just solve its own problem. They blazed the trail for a movement: platform engineering. Now, every company wants a piece of that action. What Netflix did was essentially build an internal platform that developers could innovate without dealing with infrastructure headaches, a dream scenario for any application developer or app development company seeking seamless workflows.

And it’s not just for the big players like Netflix anymore. Across industries, companies are using platform engineering to create Internal Developer Platforms (IDPs)—one-stop shops for mobile application developers to create, test, and deploy apps without waiting on traditional IT. According to Gartner, 80% of organizations will adopt platform engineering by 2025 because it makes everything faster and more efficient, a game-changer for any mobile app developer or development software firm.

All anybody has to do is to make sure the tools are actually connected and working together. To make the most of it. That’s where modern trends like self-service platforms and composable architectures come in. You build, you scale, you innovate.achieving what mobile app dev and web-based development needs And all without breaking a sweat.

Source: getport.io

Is Mantra Labs Redefining Platform Engineering?

We didn’t just learn from Netflix’s playbook; we’re writing our own chapters in platform engineering. One example of this? Our work with one of India’s leading private-sector general insurance companies.

Their existing DevOps system was like Netflix’s old monolith: complex, clunky, and slowing them down. Multiple teams, diverse workflows, and a lack of standardization were crippling their ability to innovate. Worse yet, they were stuck in a ticket-driven approach, which led to reactive fixes rather than proactive growth. Observability gaps meant they were often solving the wrong problems, without any real insight into what was happening under the hood.

That’s where Mantra Labs stepped in. Mantra Labs brought in the pillars of platform engineering:

Standardization: We unified their workflows, creating a single source of truth for teams across the board.

Customization:  Our tailored platform engineering approach addressed the unique demands of their various application development teams.

Traceability: With better observability tools, they could now track their workflows, giving them real-time insights into system health and potential bottlenecks—an essential feature for web and app development and agile software development.

We didn’t just slap a band-aid on the problem; we overhauled their entire infrastructure. By centralizing infrastructure management and removing the ticket-driven chaos, we gave them a self-service platform—where teams could deploy new code without waiting in line. The results? Faster workflows, better adoption of tools, and an infrastructure ready for future growth.

But we didn’t stop there. We solved the critical observability gaps—providing real-time data that helped the insurance giant avoid potential pitfalls before they happened. With our approach, they no longer had to “hope” that things would go right. They could see it happening in real-time which is a major advantage in cross-platform mobile application development and cloud-based web hosting.

The Future of Platform Engineering: What’s Next?

As we look forward, platform engineering will continue to drive innovation, enabling companies to build scalable, resilient systems that adapt to future challenges—whether it’s AI-driven automation or self-healing platforms.

If you’re ready to make the leap into platform engineering, Mantra Labs is here to guide you. Whether you’re aiming for smoother workflows, enhanced observability, or scalable infrastructure, we’ve got the tools and expertise to get you there.

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