We’re thrilled to announce that Albany Group has been named among BusinessCloud’s InsurTech 50 for 2024, a prestigious ranking that highlights the top 50 innovative InsurTech companies in the UK! This recognition is especially meaningful, as it celebrates companies of all sizes creating technology to transform the insurance sector. Albany Group made the list with our Conect™ platform, a powerful KYB (Know Your Business) and third-party management solution designed to tackle the unique challenges of the insurance supply chain.
Chosen by readers of BusinessCloud and a panel of industry experts, the InsurTech 50 highlights companies revolutionising the industry, from broker solutions and underwriting data intelligence to Conect’s own tech-driven supply chain innovations. As BusinessCloud editor Jonathan Symcox noted, “This year’s InsurTech 50 is a real showcase of UK insurance innovation, shining a light upon companies of all sizes looking to disrupt this historic industry.”
The expert judging panel for the InsurTech 50 included:
Janine Hirt, CEO, Innovate Finance
Paddy Goodlet, Head of FinTech M&A, KPMG UK
Jake Megeary, VP FinTech Strategy
Jonathan Symcox, Editor, BusinessCloud
What is Conect™?
Conect™ is Albany Group’s signature solution designed to address complex compliance, risk management, and operational resilience needs within the insurance supply chain. Built as an automated KYB solution, Conect™ enables businesses to conduct thorough screening of potential clients and partners, maintaining compliance with regulatory standards. The platform serves as a centralised hub for all KYB data, consolidating essential functions like:
Contract Repository: Store and manage all contracts securely, with easy access and organised document tracking.
Alerts and Task Management: Stay compliant with scheduled reminders for contract renewals, compliance updates, and key tasks.
Insurance Policy Management: Track and oversee insurance policies to ensure all are up-to-date and accurately maintained.
Compliance Insights: Access crucial data, including compliance reports, PEP & sanctions monitoring, adverse media checks, company data, UBO details, and credit risk assessment.
With no long-term contracts and no training required, Conect™ is easy to deploy, saving businesses time and money while empowering them with real-time insights for faster, more confident decision-making.
Levelling Up with Conect™ Pro
For businesses looking to elevate their third-party management capabilities, Conect™ Pro offers an enhanced suite of tools that streamline vendor and partner management. Conect™ Pro enables users to:
Manage Vendor Contracts: Organise and review vendor agreements in a centralised, easily accessible system.
Track Vendor Performance: Evaluate vendor performance metrics to ensure alignment with business goals.
Conduct Audits and Assessments: Run thorough risk assessments and audits on vendors, ensuring that partners meet compliance standards.
Customisable Workflow: Tailor Conect™ Pro to meet the specific needs of your business, providing flexibility and control.
Together, Conect™ and Conect™ Pro form a powerful ecosystem that supports businesses of all sizes in their journey towards seamless compliance, operational resilience, and efficient vendor management.
Looking Forward
Being named in the InsurTech 50 underscores the impact Albany Group is making with Conect™. As we continue to develop our platform, we remain committed to pioneering innovative solutions that reshape the insurance industry for the better.
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