Artificial Intelligence Startups in Insurance

10 Artificial Intelligence Startups in Insurance MAY 21, 2017 BY NANALYZE With somewhere around 2,000 artificial intelligence (AI) startups out there, applications have been identified across every single sector you can think of. While few industries are as mundane as insurance, it starts to become interesting in the context of using AI in insurance. On one hand, the predictive powers of AI threaten to all but replace human actuaries resulting in reduced labor costs and more accurate predictions. On the other hand, autonomous cars threaten to decimate traditional auto insurance premiums. The insurance industry is roughly divided into Life, Health, and Property & Casualty (P&C). We’ve thinly touched on technology innovation in P&C with an article about Metromile with its Read More …

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InsurTech: Top 100 Influencers and Brands

InsurTech: Top 100 Influencers and Brands  Published on onalytica.com Download report Insurance technology, also known as InsurTech, is an economic industry composed of companies that use technology to make insurance services more efficient. InsurTech is an integral part of the global FinTech revolution to bring more innovation to the financial sector in general. InsurTech involves exploring avenues that large insurance firms perhaps have less incentive to exploit, such as offering highly customized policies, social insurance, and using new streams of data from internet-enabled devices to dynamically price premiums according to observed behaviour. InsurTech attracted around $2.6 billion worth of investment last year, and market research analysts at Technavio predict that the global InsurTech market will grow steadily at a rate of 10% over Read More …

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The Hype Cycle of Insurance Disruption

The Hype Cycle of Insurance Disruption In Review: Published on December 20, 2016 on LinkendIn.com ny Sam Gilbert Back in January I wrote a guest blog for Insurance Times on The Hype Cycle of Insurance Disruption. In it, I made some predictions about how insurtech would develop during the course of 2016. Recently Jeff Smith from One Underwriting emailed to ask how I thought I’d done. So, I’ve looked back at 10 of the areas I touched on in my original post. AI Underwriters. This progressed faster than I expected, partly driven by increasing consumer familiarity with virtual personal assistants and by big product launches from Amazon (Echo) and Facebook (Messenger for Business API). I predicted Brolly might raise a seed round, and they Read More …

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