Insurance Industry
topic on 10 shows · 14 statements across 13 episodes
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14 statements about Insurance Industry, every show
Srinivasa: Insurers will never replace structured data with unstructured data
“I don't think that we will ever replace our unstructured, our structured data the way how we are doing it. We're going to supercharge the structured data with unstructured data because we are highly regulated”
Tenev: Prediction markets will disrupt insurance by cheapening fire and hurricane hedging
“You can trade and hedge fire risk. You can hedge hurricane risk. And if you think about the process of like insuring yourself against a fire or a hurricane, It can be very expensive and it's cumbersome. You have to talk to a broker on the phone and the contrac…”
Emmons: AI model error cost his former insurance employer $1 million
“Spent a decade, data scientist in the insurance industry, cutting my teeth and learning these firsthand, watching us pay out a million dollars extra”
Mochida: A Katrina-Level Storm in Florida Will Bankrupt Property Insurers
“But when the next Hurricane Katrina happens in, you know, Florida, for example, then insurance is just going to be insolvent in many ways.”
Shugar: Nextracker hail stow documentation reduced some customer insurance costs
“There are some cases where we're aware that customers were able to reduce their insurance costs by really good documentation on this stuff.”
Knight: Insurance enterprise sales cycles can reach two and a half years
“And, in insurance, some things are two, two and a half year long deal cycles, so you kind of have to get ready, and you have to be creative on how you're tackling that.”
Visser: Increased longevity will disrupt pension and insurance actuarial tables
“It has actuarial table implications, which means the insurance industry and the pension industry, both are vulnerable to the situation in terms of if people live a lot longer, the working age population might actually, people might, if they're going to live lo…”
Tepper: US Insurance Industry Is Exempt From Federal Antitrust Laws
“Believe it or not, the insurance industry is exempt from antitrust supervision under McCarran Ferguson, right?”
Insurance software firms typically operate at 60% SaaS and 40% services
“They're probably 60 SAS and 40 services. And that's the way this industry really works for bigger companies.”
Wand: Legacy backend costs made pre-cloud insurance startups financially unviable
“Anything you wanted to do in insurance, you needed to set up a full back-end system. I guess you could get companies like Guidewire, get Accenture, get Oracle Database Nine, or whatever was in that sense, you know, the options. That would have cost you hundred…”
No ground-up insurance startup has reached the top tier in 80 years
“In terms of a ground up new entrance, this hasn't happened in over 80 years.”
Insurance underwriting will shift toward highly personalized risk scoring
“We're gonna move to a world where risk is scored in a much, much more personal level.”
Szczerba: Machine learning is standard actuarial science used for a century
“Machine learning is something very, very specific, and not very hocus pocus, right? I mean, machine learning was something that I don't know, Actuaries inside the insurance industry have been using for, you know, a hundred years.”
Thomas Jones predicts insurance is the next major industry for tech disruption
“Yeah, I think my answer there is probably insurance, and the reason is, and you know, it's a big area, it's boring, it has a lot of data you know, the kind of young startup kids don't tend to focus on it, they focus on retail things.”