Binariks
Custom insurance software development for carriers, MGAs, and brokers -- AI-powered claims, underwriting, and customer portals.
Overview
Binariks is a custom software development and technology consulting firm serving insurance carriers, MGAs, and brokers. Founded in 2016 and headquartered in Torrance, California, the company employs 200+ professionals across delivery centers in Ukraine, Poland, and Estonia, with additional offices in Cyprus and the United Kingdom. Binariks is an Associate Member of Insurtech UK and holds ISO 9001:2015, ISO 27001:2013, and ISO 13485 certifications, along with HIPAA and GDPR compliance.
The company builds end-to-end custom solutions across the insurance value chain, including AI-powered claims automation, underwriting automation, fraud detection, customer self-service portals, and embedded insurance platforms. Delivery relies on cloud-native architectures on AWS, Microsoft Azure, and Google Cloud, with integrations to Azure OpenAI, AWS Bedrock, and Google Vertex AI. A proprietary 90-day AI sprint methodology structures rapid production deployment of AI/ML solutions.
Binariks has completed projects for global P&C insurers, US and UK carriers, and commercial insurance providers -- all anonymized in public case studies. Documented outcomes include reducing claims turnaround time by 90%, automating over 80% of underwriting data extraction, and delivering USD 1.5M in annual savings through AI-powered contract validation. The company is ranked among the Top 1000 Global Companies on Clutch and holds a 91% Net Promoter Score.
Products & Services
AI-Powered Claims Automation
Custom AI development for claims processing workflows, covering FNOL automation, computer vision vehicle damage detection, agent-based claims analysis pipelines, and risk data extraction. Engagements have reduced claims turnaround from 3 hours to 15 minutes and achieved 80-90% reductions in manual work.
Key Features
- Computer vision for vehicle damage detection via mobile workflows
- FNOL workflow optimization via secure middleware
- AI agent-based claims analysis pipelines
- Risk data extraction automation (90% time reduction)
Target Users: P&C carriers, commercial insurers
Underwriting Automation
AI-driven underwriting transformation projects replacing manual data extraction with automated processing. One delivered engagement automated over 80% of manual tasks for a US and UK insurer, reducing processing delays from 15 days to near real-time.
Key Features
- Automated data extraction from submission documents
- Real-time predictive analytics for risk determination
- Integration with existing underwriting workbenches
- Configurable rules engines for policy pricing
Target Users: Carriers, MGAs
Insurance Customer Portals
Self-service web and mobile portals enabling policyholders to manage policies, file claims, and access support. Includes instant quote engines, agent dashboards, and client management interfaces.
Key Features
- Policy management and claims filing self-service
- Instant quote engines
- Agent dashboards and client management tools
- Embedded insurance API-first architecture
Target Users: Carriers, brokers, agents
Contract Validation Platform
AI-powered platform for reviewing and validating insurance contracts, delivering automated extraction and comparison of policy terms. A deployed solution for a global insurer achieved 80% reduction in average contract review time and USD 1.5M in annual savings.
Key Features
- Automated contract term extraction
- Policy comparison and anomaly detection
- High-volume document intake workflow
- Integration with risk management systems
Target Users: Carriers, reinsurers, global insurers
Telematics and IoT
Telematics insurance solutions with collision monitoring, usage-based premium adjustment, and IoT-based risk evaluation for claims processing.
Key Features
- Collision monitoring and event detection
- Dynamic premium adjustment based on driving data
- IoT sensor integration for risk evaluation
- Claims automation triggered by telematics events
Target Users: P&C personal lines carriers
Cloud and Technology Consulting
Cloud architecture consulting and development on AWS, Microsoft Azure, and Google Cloud. Covers enterprise solutions, SMB digital transformation, and platform migration.
Key Features
- Cloud migration and architecture design
- AWS Select Consulting Partner
- Google Cloud Partner
- Gold Microsoft Partner
Target Users: Insurance carriers, MGAs
At a Glance
- Founded
- 2016
- Headquarters
- Torrance, California, USA
- Employees
- 201-500
- Funding
- Bootstrapped
Category & Focus
- Category
- Claims Technology
- Subcategories
- Underwriting & Risk Customer Engagement Document Management Insurtech Infrastructure
- Insurance Verticals
- P&C Personal P&C Commercial Specialty/E&S
- Target Customers
- Carriers, MGAs/MGUs, Brokers
Customers
- Global P&C insurer (FNOL workflow optimization via secure middleware)
- US and UK insurance carrier (AI underwriting transformation at scale)
- Global commercial insurance provider (AI claims analysis pipeline)
- Car insurance provider (computer vision vehicle damage detection)
- Insurer/reinsurer (AI contract validation platform)
- Global risk-management systems provider (high-volume document intake)
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Last updated: 2026-06-12