How Blockchain Technology and AI Can Deliver Insurance Innovations

| February 12, 2018

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Today's commercial and home security monitoring systems produce an enormous amount of big data designed to alert users after an event has occurred. We believe that no system exists to continuously collect and analyze that data, utilizing it to predict, alert and prevent risky behavior autonomously, and proactively warn of an event that is about to happen. OneEvent’s patented artificial intelligence (AI) software platform analyzes a multitude of environmental sensor measurements to create information and messages that are sent instantaneously to the mobile devices of property owners and managers. The OnePrevent™ system is empowering and enabling faster and better decision making, and mitigating property damage and personal injury risk. The system identifies and predicts the onset of fires, water damage, equipment failures, food/medicine spoilage and other catastrophic events. The AI solution creates a paradigm where computer systems can sense what’s occurring within an environment, and think, learn and act in response to what they're sensing.

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Poncho Insurance

YourPoncho is here to protect your family and your future by ensuring that you don’t spend a lifetime paying for a moment of bad luck. We’ve built a tech-enabled home, auto, and life insurance agency that finds vulnerabilities with your current policies, lets numerous carriers compete for your business, and seamlessly switches you to the right coverage at the best price.

OTHER ARTICLES

How insurers can use big data to manage the COVID-19 pandemic

Article | March 27, 2020

Insurers are stuck between a rock and a hard place. The recent COVID-19 pandemic has forced much of the world to grind to a halt. As companies struggle to manage the impacts on their supply chains and bottom line, greater pressure is placed on insurers to support their clients while also mitigating the downside for their own businesses. On one end, the needs of insureds are higher. Business operations are global and more complex; all the while, clients expect more bespoke service and support.

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5 Deep Learning Use Cases for the Insurance Industry

Article | February 11, 2020

In 2010, with the launch of the Image Net Competition, a vast dataset of about 14 million labeled images was made open-source to inspire the development of cutting-edge image classifiers. This was when Deep Learning technology got it’s a real breakthrough and since then there’s been no looking back for advancements in this field.

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6 mistakes small business owners make when filing insurance claims

Article | March 4, 2020

Failing to contact your business insurance provider immediately after an accident, not documenting property damage, and admitting fault for an incident can affect your claim amount or whether you’ll be covered at all. Risk comes in many forms for small businesses. Natural disasters, client injuries, and equipment failure can all impact your bottom line. Commercial insurance is essential to managing a small business’s risks. Your general liability insurance premiums will be well worth it if a visitor sues your business over an injury that occurred at your office.

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Top 3 Challenges to Data Science and Machine Learning Adoption in Insurance

Article | March 27, 2020

Hiring people with skills in machine learning is extremely difficult across industries due to a shortage of talent and skyrocketing demand. But the insurance industry is better positioned than most to overcome this challenge via upskilling. With tens (possibly hundreds) of statistics-minded actuaries already on staff, providing the right tools to nudge them into the world of data science is a small step. Upskilling business staff is also a great way to fill talent gaps, and in many ways, it’s necessary for insurance businesses that want to democratize data science.

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Spotlight

Poncho Insurance

YourPoncho is here to protect your family and your future by ensuring that you don’t spend a lifetime paying for a moment of bad luck. We’ve built a tech-enabled home, auto, and life insurance agency that finds vulnerabilities with your current policies, lets numerous carriers compete for your business, and seamlessly switches you to the right coverage at the best price.

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