Q . WHAT INSPIRES YOU IN THE INDUSTRY TODAY ?
» Insurtechs are changing the way insurance has been done for the past few decades . It is very exciting to be an element of change within that dynamic . There has especially been a real shift in applying AI , from experimental data labs to leveraging AI in production .
We have witnessed it first-hand . Looking at the pricing process itself , blackbox AI was a real blocker as going into production with blackbox models is not only unacceptable to regulators in most geographies , but it also exposes insurers to potential adverse selection effects . The advent of transparent ML – spearheaded by Akur8 , as we are patenting our algorithms – has lifted that blocker , allowing insurers to put models generated with Akur8 to go into production safely .
We are seeing the momentum grow as insurance carriers embrace the power of data and analytics across their internal processes on a new level , to deliver the reactivity and transparency that customers are now demanding at scale .