Comparator  Finder  has named  the  insurtech  and insurer contenders in the running for top  honours  in its annual Innovation Awards contest.

The awards seek to celebrate Australia’s most innovative companies across several industries including insurance, banking and retail.

The four finalists in the Best Insurance Innovation category are  Fast Cover Travel Insurance,  Noble Oak  Life, Pet Insurance Australia and Stella Insurance.

The four contenders for Best Insurtech Innovation are Fast Cover Travel Insurance,  handdii,  upcover  and Wilbur.

Finder will reveal the winners at a virtual ceremony later this month.

Finder insurance expert Alex Holderness says digital innovation has opened up a way for insurers to transform how they interact with their customers.

“We saw a range of entries this year from the whole insurance industry which is really encouraging, and it’s positive to see brands pushing for improvements,” Mr Holderness told insuranceNEWS.com.au.

“Across the whole chain, from product to application, claims to customer service, we are seeing insurers seeking out solutions to enhance the customer experience.

“It’s going to be a really interesting time over the next year or so to see how quickly the industry moves, there’s a clear advantage available to those brands taking up the opportunities digital can offer.”