InsurTech Hub Munich’s Post

Hot off the press! 🚀 GenAI has transitioned from a moonshot to a reality. To provide insights for insurers, Celent conducted a survey among insurance executives focused on innovation. The survey, conducted between March and April 2024, delved into various aspects including changes in sentiment toward GenAI over the past year, adoption rates by area, expected impacts by use case, technology approaches, and key success factors identified based on recent experiences. Explore the full survey results here: https://lnkd.in/eHwKhxhv #GenAI #InsuranceInnovation #CelentSurvey #InsuranceExecutives #TechnologyTrends Keith Raymond and Andrew Schwartz

Exciting insights from the world of #InsurTech! 🚀 Check out INZMO taking center stage as Meeri Savolainen, founder & CEO, shares her thoughts on #AI in #insurance at InsurTech LIVE 2023! 🎙️🔍 🔮 In the era of digitisation, AI is more than a buzzword; it's a transformative tool shaping the future of insurance. 🌐 Meeri dives deep into the concept of 'Artificial Insurance,' unraveling the potential of AI-driven policy decisions and envisioning a connected, predictive, and responsive insurance ecosystem. How can insurance companies embrace the AI revolution? 🤔 🔗 Read the full article on InsurTech Digital by Amber Jackson here: https://bit.ly/3S8B4Yl

Intersting introduction to the upcoming scene of the insurance sector. All those who care about the future of insurance, zoom this! Insurance contracts will change a lot, the way computers changed typography. #insurance #india #lifeinsurance #underwriting #actuarialscience

This is good ... Generative AI coming to Insurance... at speed. If you are worried about GAI not doing math right... Any modern chatbot can be connected to a Coherent.Global API which will do the math perfect base on the act sci and underwriting you design in Excel. Do the conversation to collect risk information and do the math with Spark Models. dm me for more on the overlap. #insurance

Celent recently conducted a survey among insurance executives focused on innovation. The survey, carried out between March and April 2024, explored their changing sentiment toward GenAI over the past year, adoption rates across different areas, expected impacts by use case, technology approaches, and key success factors identified through recent experiences. #Celent #GenAI Keith Raymond Learn more about the findings here: https://lnkd.in/eHwKhxhv.

AI in Insurance: May 2024 Assessment May 8th at 12 PM Eastern Regisger Here --> https://lnkd.in/g9rT3bcT Three industry leaders share direct observations on AI adoption within the insurance industry. They’ll dive into the different types of AI technologies being deployed today, the challenges insurers are facing, and potential solutions to help overcome those challenges and push the sector forward. A few perspectives from outside of Insurance will be added in to broaden the discussion. Panelists: Alexander Tran - Investor, Plug and Play Tech Center - Ventures Alex Goryachev - Author of "Fearless Innovation" John Keddy - Insurance Evangelist, Lazarus AI Regisger Here --> https://lnkd.in/g9rT3bcT Andres Diaz Martinez Rafael Sainz Sainz de Baranda Eugenio Gonzalez Daisy (Xiaoyi) Li Sean V. Stephen Fay Brenda Flores-Reyes Francesco Carmisciano Paula Ramoneda Ariel Elizarov Junko Hayashida Pierrick Guetin

Is Generative AI the newest Insurance policy maker in town? In Australia alone, the general insurance market is huge. In 2022 it was worth ~$80B. At the same time, it's common knowledge that the industry is highly regulated and held back by legacy systems. For customers there is a push to protect sovereignty, and for insurers and regulators, ensuring financial liquidity is front of mind. In the last five years, there has been gradual transformation driven by trends such as digitization, embedded insurance, verticalization and demand for data-driven insurance. Looking through the looking glass, we believe Generative AI could be the unlock for "disruptive innovation" in the industry, and fast track existing trends. Here's a peek into why we are excited and our investment thesis 👇   1️⃣ There will be a rise of startups targeting "point source solutions" in the value chain. Early movers include Sixfold, AKUR8, Curious Thing AI, Brainfish, Zelros   2️⃣ A Harvey AI equivalent (custom law LLM) for insurance is yet to happen, and when it does it will be a market disruptor   3️⃣ There will be a surge in demand for startups tackling early prevention and mitigation of claims, particularly in life insurance e.g., Sahha, Vively, Humn ... and many more.   Of note, building with responsible AI at the core of solutions will be table stakes for all players. The link to the full investment thesis in collaboration with Insurtech Gateway, on Generative AI in InsurTech, is in the comments! ------- Would love to hear what your predictions for the field are and if you know anyone disrupting it! Please comment, like and share 💛. Thank you to Nick Proud, Danica Bunch, Peter Tilocca, Timothy Chan CIP, Soohan Kim, Michael Mifsud, Eric Tran, Nissan Dookeran, The Builders Club Fellows, Aleksander Dahlberg, David McKeague, Daniel Kimber and more for your thought partnership on this thesis. #investmenthesis #insurtech #marketmap #australia #genai

💡 The transformative power of AI and ML in the insurance industry is undeniable. Yet, integrating these technologies sustainably, ensuring they resonate with our goals and ethics, becomes the real magic. ✨ With a vision 🔍 deeply rooted in harnessing the potential of ML & AI, Christian Lau, of DynamoFL and his dedicated team are reshaping the narrative of Life & Health insurance. DynamoFL isn't just jumping on the tech bandwagon. They're meticulously crafting 🛠️ sustainable AI solutions, addressing both today's challenges and anticipating those of tomorrow. Christian's approach, with its keen emphasis on longevity and adaptability, is genuinely inspiring. 🌱 Merging technological breakthroughs with sustainability, DynamoFL pledges that our industry won't just evolve. It will flourish in a way that's enduring and meaningful. For those eager to dive into the confluence of sustainability and tech innovation and to see firsthand how they're sculpting the future of L&H insurance, Christian's insights at #itcvegas2023 are an unmissable gem. 💎 The future of insurance is green, tech-empowered, and holistic. Dive into the conversation and be part of this transformative journey🚀. Check out the details here: https://lnkd.in/gBaY-yk5. #ITCVegas #SustainableAI

🚀 AI in Insurance: Mulberri and Sprout.ai's Global Expansion 🚀 Exciting news in the insurance tech sector! Mulberri and Sprout.ai, two AI-driven insurance platforms, have secured significant funding for global expansion. 🔹 Mulberri: Raised $6.75M in Series A, led by Eos Venture Partners. They're revolutionizing risk management for SMEs with AI-driven solutions. 🔹 Sprout.ai: Secured £5.4M to enhance their AI insurance claims automation globally. Their technology is streamlining claims processes, reducing costs and time. 🔗 Learn more about their journey: https://lnkd.in/dctZ2PiD #InsurTech #AI #GlobalExpansion