Last week (20/11/2017) Judit and I went to Instech London to keep up with the InsurTech latest innovations. Although some of the speakers weren’t talking about InsurTech offerings directly, but some exciting things happening in adjacent space which have the ability to change the way insurance is done in the future.
Dark web monitoring
Do you have a password manager? Most people not only don’t have one but also have horrible passwords such as “password”. That could lead to your ID being stolen and sold on the dark web. 4iQ protects consumers and companies by monitoring the dark web for stolen credentials and then alerts you if your information becomes compromised.
90% of all Germans are over-insured or have contracts that are too expensive. WeFox shows you where you pay too much and where you can get better benefits. The company has raised nearly 50m Euros, has 150,000 customers and is coming to the UK. The German InsurTech company is currently in talks with UK retail brokers and is on the hunt for an intermediary to take an equity stake in its UK subsidiary, according to Wefox Group CEO Julian Teicke.
Counter terrorism tech
Manuel Magualhaes shared with us a horrifying story of when his son texted him that the cab driver decided to take him to a “party”. The driver wasn’t the same person on the app. Back on the Instech stage Magualhes proceeded with the case of using counter terrorism technology in our everyday lives. Digital Barriers are world leaders in surveillance and analytics solutions for the national security and public safety markets.
Credit score API
Open Risk Exchange is an online portal offering credit scores for all registered business in the United Kingdom with an API on request for lenders and insurers requiring high volume programmatic access to its scores. ORX leverages complex statistical modelling and machine learning on a wide variety of structured and unstructured data sources to deliver one of the most accurate risk models outperforming some of the existing credit bureau offerings.
Building risk data
Insurdata provide high resolution, peril specific, exposure, contract and risk data on every specific building you insure globally. At Insurdata, their aim is to bring greater clarity to the underwriting process through providing the industry at large with access to much more granular and peril-specific data, and ensuring exposure data is always relevant and up-to-date.
Someone who’s keen to furnish their new home will start taking pictures of things they like long before even getting the mortgage. With computer vision, Pixoneye wants have access to the user’s photo library to understand their future needs.
Started in January this year, Reputrans proposed collecting and analysing customers' ratings on the sharing economy platforms to help with underwriting assessment and client retention. How's your AirBnb rating?
Cyber attack alarm
Cyber attacks often take days, weeks or even months to develop. In most cases, you can actually do something about it before any real damage is done. Prevention is better than cure and Cyberowl is an early warning system for Cyber risk.
If you're interested in how the latest tech can improve your company's return then drop us a line at firstname.lastname@example.org or call us on 0207 977 9230