Originally Published in Zurich Magazine
Risks and rewards go hand-in-hand at the Zurich Innovation Championship
Nov 5, 2019 | 1 min Read
For ZestyAI’s Attila Toth, data is a tool to protect people from disasters. He explains how this works and offers top tips on the ZIC, which he calls a once-in-a-lifetime experience.
Attila Toth, co-founder and CEO of ZestyAI, the silver winner of the first Zurich Innovation Championship, wants to protect people and their homes from risks, such as fires and floods. As the second Zurich Innovation Championship was getting underway, he spoke to us about what it means to enter the competition.
Things that keep people at ZestyAI busy are the same that preoccupy many insurers and their customers. Climate change has led to hotter, drier weather resulting in dangerous wildfires, while flood risk is increasing. At the Zurich Innovation Championship, ZestyAI showcased its artificial intelligence-powered solutions to help insurers better analyze such risks. Zurich and ZestyAI are now working on ways to spot risks to property, from wildfires and floods. Their work can also improve data accuracy, ultimately helping insurers (and their customers) to better price risks.
In the Zurich Innovation Championship that concluded in early 2019, ZestyAI competed against more than 450 startups from 49 countries around the world. As this year’s Innovation Championship 2020 got underway, Toth talked about how he got involved in the tournament, offered his top tips to this year’s entrants, and explained how he and the gold winner struck up a friendship through the once-in-a-lifetime experience.
ZestyAI is the leading partner for property & casualty insurance companies embarking on digital transformation. The company harnesses the power of artificial intelligence on cutting-edge data sources including aerial imagery to model risk to real property. ZestyAI leverages predictive algorithms on 130+Bn data points to understand the potential impact of natural catastrophes on individual properties with unprecedented accuracy. Insurance companies rely on these property risk insights to make smart marketing, underwriting and rating decisions. For more information, visit https://zesty.ai.