VENTURE CAPITAL
AI startup value
platforms .
David Kuhn , Insurance Solutions director for Mendix , says AI has never been so badly needed as an increase in claims has ramped up the pressure on an industrywide scale . “ Over the last year , the insurance sector has been under increasing pressure with more claims being made than ever before . As the industry is traditionally paper based , this increased demand has been particularly difficult to manage ,” he explains .
“ Many insurers have turned to digital transformation to increase capacity and streamline customer service , with artificial intelligence ( AI ) solutions one aspect of this shift . AI can be used by insurers to automate customer interactions , reduce operational costs , provide expert assistance , enable predictive customer engagement and improve
Ventures , says a large proportion of new companies are still considered valuable by investors even if they don ’ t utilise AL and ML .
“ In our State of AI report 2019 , we mapped over 1,600 AI startups across Europe and found that 40 % did not show evidence of AI being material to the company ’ s value proposition . Any investor experienced in investing in businesses that are applying AI is going to spot companies overselling their AI capabilities pretty quickly , so I ' m not sure how ultimately successful it is .”