Zesty.ai (https://zesty.ai) CEO Attila Toth took to the mainstage during the 13th annual Aon Analytics Insights Conference in Chicago, the premier invitation-only event for insurance executives, reinsurance brokers, and InsurTech innovators. The conference gathered thought leaders from more than 200 organizations to exchange ideas about the most important trends and innovations shaping the future of insurance.
Toth shared his perspective on some of the most significant trends in Property & Casualty insurance, most importantly leveraging Artificial Intelligence (AI) to accurately price risk and to provide an engaging, unique consumer experience.
Toth argued that, “Insurance is one of the last trillion dollar industries that has remained largely untouched by technology, with the majority of people still dialing an agent when in need of a policy.”
Insurance companies face a simultaneous threat and opportunity. Carriers that fail to embrace disruptive new technologies will struggle to serve the digitally-minded consumer and compete with new entrants built with technology at their core. AI has matured to enable incumbents to create better risk models, reduce inspection costs, better target and engage their customers, and process claims more efficiently. Insurance and reinsurance companies are at a critical juncture and Toth urged attendees to mobilize their organizations to embrace AI.
This year, Aon’s annual Analytics conference brought together close to 400 top industry experts. The robust agenda reflected this year’s theme – Blending old and new: data and analytics in the modern era – as attendees heard industry thought leaders on opportunities for the industry to grow and innovate while building on 300+ years of legacy in risk management.
Zesty.ai leverages Artificial Intelligence to change the way the trillion-dollar global property insurance industry has been assessing risk for decades. We use the latest advancements in computer vision and deep learning on 115+Bn data points on residential and commercial properties to extract key building features (e.g., roof geometry, material, quality; distance to flammable vegetation and more) to accurately model the potential impact of both non-catastrophic and catastrophic loss events, such as hurricanes, floods, wildfires and earthquakes.
Several insurance carriers and reinsurers have partnered with zesty.ai to underwrite risk more accurately, provide their customers a smoother purchasing experience and manage inspections more cost-effectively. For more info please visit https://zesty.ai and watch our 100-second video.