In addition to our incredible Founders, our program team welcomes three phenomenal people to the Build in Tulsa Techstars program team. Over the next 13 weeks, our founders will go through an intense peer and mentor-driven learning journey as they rapidly scale their companies, and, according to Managing Director, Tré Baker, “we’ll focus primarily on dialing in product-market fit and attracting customers and capital.”
#Foresight insurance professional
This class is diverse in origin and experience with companies leveraging technological innovation to conquer challenges in areas such as digital health, insurtech, future of work, professional education, fintech, blockchain and so much more.
After a rigorous selection process, we chose 12 companies led by underrepresented founders who are committed to changing how we do life and business around the world. New skillsets will need to be acquired to understand and process this information and a culture of innovation and transformation will need to develop in this movement towards a foresight driven world of underwriting in insurance.The Build in Tulsa Techstars Accelerator is proud to announce our Summer Class of 2023 Companies. In agriculture insurance, high resolution imagery, coupled with AI based insights, is helping in yield prediction and crop damage assessment.Īs we continue to be a part of a rapidly changing world, underwriting strategies would need to adapt to using this real time data from connected ecosystems, along with historical data, to price risk. Drones and satellites are now helping us in real-time inspection of this risk and AI algorithms are helping in understanding and segmenting this risk. In commercial lines insurance, physical property risk inspection is essential for underwriting and pricing of risk. Individuals at higher risk of certain diseases could not only get appropriate cover for the same, but also work on reducing their premiums by maintaining a certain lifestyle. Advances in genetics and understanding of the human genome could pave way for extremely personalized underwriting. Sophisticated video-based AI solutions are helping consumers understand their health vitals and are providing key biomarkers for understanding risk. On the health front, information from wearables and other devices is helping people in moving towards a healthier lifestyle. As that happens, onboard sensors data and ecosystem data will enable insurers to provide a near real time pay as you drive insurance basis the routes that are being driven and the probability of an accident on the driven route. In the future of driverless cars, the risk will completely change from analyzing driving behavior to analyzing the performance of the AI software. ML algorithms are helping us understand driving behavior and risk a lot better. In motor insurance, we are seeing connected cars generating significant amount of data. Even traditional risks are changing rapidly.
In recent years, the insurance industry has seen new types of risks emerging be it pandemics, climate change or data protection and privacy. Data analytics and new-age technologies such as Artificial Intelligence (AI) and Machine Learning (ML) are leading this change. In this rapidly changing world, a predominantly physical-intensive industry such as insurance is also undergoing rapid transformation. Consumers today are leveraging UPI for digital payments, Alexa to turn on their favorite music and using Swiggy / Zomato for their dining needs. Increased internet penetration and mobile data usage has made the world around us increasingly digital. Bhargav Dasgupta - MD & CEO, ICICI Lombard
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