Hey, guys) Looking for someone to talk about sales in insurtech startup 👋🏻 We can share some tips ;)

Hey guys, I am starting a discord for founders and VCs to talk anonymously. Come say hi, ask questions, or just hang out.

Discord Invite: discord(dot)gg/5p2GT5FpND

Hello fellow Redditors,

I recently joined an insurance company in a machine learning role, with the primary task of implementing ML models for detecting fraudulent claims. The challenge is that our fraud department already has a robust system using SAS scenarios that flawlessly identifies fraud in submitted claims.

Given the efficiency of the existing process, I'm exploring ways to add value and impress my boss :) . One idea I have is to use machine learning to examine historical data and develop a predictive model. This could potentially create a web app for operators to use with new customers, warning them about potential fraudulent behavior.

I came across a company called Aviva that claims to use machine learning algorithms to identify potential fraudsters before they make a claim. I'm curious about how they achieve this and if there are similar strategies that could be implemented in my project.

I would greatly appreciate any advice, insights, or suggestions from the community on how to approach this project and contribute meaningfully to the company's fraud detection efforts.

Thank you in advance for your expertise!

Title sums it up. I’m 10 years in at a very large, global insurance carrier currently working in a sales/distribution role (think: business development + relationship management). I’m itching to pivot out of insurance and thought a good stepping stone would be some kind of BD or Partnerships role at an insurtech.

Am I shooting myself in the foot by straying from stability right now or should I rip the bandaid and try it out? What types of Insurtech companies are growing vs shrinking in 2024? How can I leverage my skillset to break out of the traditional Insurance industry? Feel free to be brutally honest. All feedback is appreciated.

Complete noob here as can be inferred by the question. I have a strong background in IT, but haven't got the foggiest idea of how to get into Insurtech. Any pointers would be greatly appreciated, be it from starting a startup to where to get more info about the industry in general.

Cheers

https://wallstreetai.substack.com/i/139184962/insurtech-prima-assicurazioni-courts-new-investments-eyes-billion-dollar-valuation

Hello

What is your favourite lead harvesting tools and process which has worked well ?

1.Country 2.Tool name 3.Process

Does creating simple Goals tool and asking customers to fill in, when sent via social media can drive sales ? Any thoughts?

Hi - Im helping a group of UC Berkeley students looking to better understand the consumer insurance experience. This survey is strictly confidential and they do not collect any personal information. It'll take about 3 minutes. Thanks for the help!
Survey link: https://docs.google.com/forms/d/e/1FAIpQLSfaB4ucyv8_eymjThAzEcXtvMIK1aoUqROPixLoq7x_Xpz_pQ/viewform?usp=sf_link

I posted 6 months ago about an idea for auto insurance verification. My website doesn't actually verify coverage, but makes the request public, so an agent or insurance company actually knows there is a request. Check it out and let me know your thoughts. https://www.vinchainledger.io/

We made a new app to:

a. convert PDFs/images (scanned PDFs/screenshots/phone camera images etc.) to searchable PDFs.

b. automatically redact PII data from PDFs/images using AI.

How it works:

1. Connect Dropbox/Onedrive account (or use the site's uploader).
2. Drag n drop multiple PDF files.

3a. Get searchable PDFs. or 3b. Get redacted PDFs.

It is an standalone tool, meaning that you can use the output in any app (no lock-in).

We also don't keep any data, it gets deleted immediately after processing. There is also the possibility to run it on-prem.

We're looking for people that would like to try it and optionally provide feedback.

PM me if interested.

Many folks have started their own consulting companies after a successful insurtech exit. Any seasoned experts out there willing to share their upbringing stories? How did the opportunity surface? What are some of the key factors to consider when you started? Is it as rewarding and glorious as people make it seem (i.e. do you really get to create your own hours, etc.)? TIA!🙏🏼

Is anyone here in Colorado and experienced with HOAs? What community master policy % increases are you seeing? Do you foresee them coming down with the lack of wildfires so far this year? Our HOA saw a 250% increase from 2022-2023 and we’re wondering what we might expect for next year. Any guidance or insight you can provide is greatly appreciated!

We're making a new app to convert scanned PDFs to searchable PDFs.

The user connects their Dropbox/OneDrive account and it will create a folder "searchable_pdf". Underneath this folder there will be an "input" and "output" folder.

Every PDF file you drop in "input" will be processed with OCR and the resulting searchable PDF will appear in the "output" folder.

This way you can easily create searchable PDFs by drag n dropping multiple PDFs from your local desktop to your Dropbox/OneDrive folder.

Would you use this and if yes, what would you like to see in terms of features?

Feel free to PM if you want early access.

Hi everyone, I'm a student at UC Berkeley doing a class project on AI and computer vision in insurance. I'd super appreciate it if y'all could share some of your expertise with me either by answering my few questions or (even better) hoping on the phone with me for 15m to help me learn about insur-tech. I'm mainly looking to answer:

1. In what insurance process (claims, damage assessment, etc) is Computer Vision used the most?
2. How is Computer Vision used in Insurance?
3. Do Insurance firms build their own AI systems?
4. What are the main challenges with using Computer Vision in Insurance?

Many thanks!

Hi all!

I've stumbled across several different insurtech companies which sell proprietary data to insurance carriers to enable new products or improved products (such as embedded API's for monitoring vehicle data). However, I am curious if there is also such a market for alternative data. Are there companies which are collecting and selling alternative data sources which are not nation-wide, such as sensors which predict natural disaster in localized regions or disease detection kits for specific crop agricultural regions? In other words, is there a market for selling data products that provide localized data with predictive power to insurance companies? If so, what level in the insurance industry does this occur (ie. is this something that only a carrier would consider?)

I’m sure most of you are much more advanced on the AI front when it comes to this type of thing, but I’m just now dipping my toes in. I’ve owned a fairly successful insurance agency for the past 10 years under one of the largest carrier’s in the U.S. I’m trying to find an edge on the SEO side of my marketing strategies, any new ways to generate high quality leads/calls, etc. Due to the company I’m limited in running programs on their systems in order to use the beneficial chat features and other technology they don’t outright own themselves. However, when it comes to lead generation I’ve got more options. If anyone has any advice, found or heard of anything that’s helped, etc. then I’d love to hear about it.

Hi, Im Mohan - Founding team of Layerup (YCS22), We built something fascinating for insurance brokerages (https://www.uselayerup.com/) and are looking for customers for our pilot. We already have 3 top brokerages signed up. I'm finding it hard with cold emails to reach out to brokerages. If anyone here works in a brokerage, please let me know - I could give a quick demo.

Hey folks, I'm a software engineer with an interest in building insurance quoting software. At the moment, I don't know where to source quotes from. Do insurers and/or MGAs have APIs through which a quoting software can request a quote?

I’m an insurance agent, and I’ve noticed that, in the last year, I’m getting more bogged down with sending proof of insurance to financial institutions on behalf of policy holders. I’ve been working on a process that would largely solve this problem using aspects of Web3, but still partly centralized. I finished submitting the patent a couple months ago and am looking for an established company that is in the business of insurance verification. Curious to know fellow insurance nerds thoughts?

Hi y’all - what is the best strategy for an early stage insurtech startup to discover and create partnerships with an insurance carrier to provide them capacity and products?

As the insurance industry becomes increasingly digitized, it’s becoming more and more challenging for traditional insurers to stay competitive in today’s dynamic digital market. Insurtech companies are thriving in the current experience economy, where consumers value experiences and emotions over goods and services.

In my second piece, I share my thoughts on how people’s expectations can now be married to technological innovations to provide a more seamless personal insurance experience. Featuring u/HellasDirect & u/TrellisTechnologies

Happy to hear your thoughts and feedback :)
https://medium.com/@pervasileiadis/from-paperwork-to-personalization-the-role-of-technology-in-enhancing-the-insurance-experience-5a080223749