Big I Illinois was kind enough to ask me (along with some of the cool kids like Chris Cline, Joey Bouchard, and Colby Tunick, PMP) to contribute my thoughts on "The State of InsurTech" in their June 2024 e-Insight Conversations Series. I'll drop the link to the full article in the comments but I can summarize here with two quick points: Agents should be thoughtful about their tech stack, especially as "AI" powered startups enter the industry. - In my opinion, we are due for a really dynamic period as entrepreneurs try to wrangle the power of LLMs. - I think you'll see a rapid rise in solutions powered by LLMs targeting agencies but likely an equally rapid fall as they all compete with each other (and ChatGPT). - Patrick 🍀 McBride wrote about some of the benefits he's seeing using these tools in this issue as well. Independent agents have never been more influential are the technology being built. - There are a lot of really smart folks building in this industry and we all want to hear from you, have you test drive our product, and give us feedback. - Agents can design the solutions they want and need by using this influence to guide products being built for them by getting involved with organizations like 101 Weston Labs. Check out the article and let me know what your thoughts are on the state of InsurTech! #InsurTech #Insurance #InsuranceAgents
Adam Bowe’s Post
More Relevant Posts
-
Great presentation from Qdeck.ai at Plug and Play Tech Center. The AI solution works off real time auditable data and provides answers to queries with cited references - minimizing hallucination. Need to add an AI copilot to your platform, company support, or chatbot?
CEO | Tech Founder | VC & Hedge funds | FinTech Innovator | Delivering AI powered FinTech SaaS Solutions for Financial Advisors and Wealth Managers
Thank you Plug and Play Tech Center for selecting Qdeck.ai among the top 50 startups to present at your Fintech/Insuretech selection day at your HQ in Sunnyvale today. Your team was phenomenal to work with and thanks a ton for all the support and incredible corporate introductions. If you are an financial services or insurance firm who would like to incorporate an AI co-Pilot on your existing private data and tech stack please drop us an email at hello@qdeck.com . We would like to show you how our solution can help scale your offerings, attract new clients and improve your efficiency in a big way. We have been developing this solution over 3 years and have a well thought out offering built by an experienced team from the financial investment world. Adopt us to leap frog your competitors. Brenda Flores-Reyes , Ava Asgari , Rosette Vo Deborah Overdeput Erika Oviedo #generativeai #ai
-
Hi LinkedIn! We’re thrilled to share some exciting news with all of you! Today, we are embarking on a new chapter in our journey, and it comes with a brand-new name and a bold vision for the future. 🌟 Introducing Aethos! 🌟 Aethos represents our commitment to pushing the boundaries of GenAI technology and delivering exceptional solutions to our clients. With Aethos, we're not just changing our name; we're expanding our horizons and services to empower businesses like never before. Over the past months, we've had the privilege of working alongside exceptional professionals like you, leveraging the cutting-edge capabilities of GenAI to tackle complex challenges, seize opportunities, and unlock new horizons. https://lnkd.in/gsw3PTyR What's New? 🚀 Aethos Consulting: Our consulting arm is here to empower private equity firms, financial service provider, asset managers, investment banks, hedge funds, and corporate development teams to embrace the potential of generative AI, revolutionizing their operations and efficiency. 💼 DealGenius: Meet our game-changing tool designed to enable users to originate deals rapidly. It caters to finance and investment professionals, helping them streamline their deal origination processes and make informed decisions faster. These additions complement our genAI-powered assistant, #myconverso, which continues to help deal originators, salespeople, and founders maximize their #influence in any interaction and supercharge their #productivity with customized scripts and emails. 👉 If you’re interested in learning more about how Aethos can transform your business, book a call with us here: https://lnkd.in/gPUs4U2H Stay tuned for more updates, insights, and AI-driven solutions as we embark on this exciting transformation. Thank you for your support, and here's to the future of Aethos! #Aethos #AI #Innovation #Transformation #BusinessSolutions #FinancialServicesSolutions #GenAI
-
InsureTech Connect Asia, the region’s largest insurance event, brought together industry leaders, tech entrepreneurs, and investors for three days of insightful discussions and trendsetting ideas. Celent hosted a preconference session,"Empowering Resilient Analytics and AI/ML and Driving Transformation for Future Success," that featured two panels moderated by my colleagues Max Ang and Nicolas Michellod, diving deep into the top trends in the insurance industry. Curious about the key takeaways? Watch both panels for an inside look into the future of insurance innovation and digital transformation > https://lnkd.in/eBE5JuGR #ITCAsia #InsuranceInnovation #AI
-
We're gearing up for InsurTech NY's spring conference on #AI and #analytics🚀 Stop by booth 9 for thought-provoking discussions and use cases in action. Want to set up a meeting ahead of time? Let us know >> https://lnkd.in/gzyMFqWw Will Wood | Tori Sarmiento | Naish Berran | Angie Sinclair #insurtechny #insurtech #insuranceinnovation
-
Wow! Authenticx ranks number 349 on the Inc. Magazine #Inc5000 In every corner of the healthcare industry there are champions for change. The Authenticx growth is evidence that successful change - a change that creates positive outcomes for both those who consume and profit from healthcare - requires that we amplify the voices of those in healthcare. When we listen to our customers they will show us the way. #NothingReplacesListening #ConsciousBusiness #ConversationalAI #AI https://lnkd.in/gg6pM5SP
Authenticx Ranks No. 349 on the 2023 Inc 5000
https://authenticx.com
-
InsureTech Connect Asia, the region’s largest insurance event, brought together industry leaders, tech entrepreneurs, and investors for three days of insightful discussions and trendsetting ideas. Celent hosted a preconference session,"Empowering Resilient Analytics and AI/ML and Driving Transformation for Future Success," that featured two panels moderated by my colleagues Max Ang and Nicolas Michellod, diving deep into the top trends in the insurance industry. Curious about the key takeaways? Watch both panels for an inside look into the future of insurance innovation and digital transformation > https://lnkd.in/eBE5JuGR #ITCAsia #InsuranceInnovation #AI
-
Digital Marketing Professional Experienced in SEO, SEM, ASO, Google Analytics, Google Adwords, SMO & SMM.
The Transformative Impact of AI on the Insurance Industry : Motiveflikr Media #Business #Startup #Tech #Technology #AI #Artificialintelligence #Economy #Growth #Strategies #Digital #Globalupdates #news #innovation #success #change #money #wealth https://lnkd.in/dWVMVZb5 #News
-
-
"28% of Q1 2024 InsurTech deals went to AI-centered InsurTechs and 50% to distribution-focused InsurTechs." Insightful stats from Gallagher on InsurTech procurement trends, highlighting reasons why AI is dominating the space, and why it's a worthwhile investment for carriers when it's the RIGHT product. There's also a helpful framework for selecting AI tools, detailing where AI is being used and where it can be applied, with practical use-cases.
Dear LinkedIn friends, It is my pleasure to share with you the first of the 2024 series Gallagher Re InsurTech reports. This year we are focusing on Artificial Intelligence (AI), and its role in the (re)insurance industry. Over the course of the year, the report seeks to break down AI into some of its component parts and relative applicability to the four main value chain quadrants of (re)insurance, with Q1 taking a look at AI's role in distribution. Included in the report, as always, are InsurTech companies and individuals of relevance to the theme - in this case those companies who are bringing AI in distribution to life in our industry, and those experts who have a view on how and what is developing. Per prior reports, we will also be delivering quarterly InsurTech investment results. At a glance for this first quarter of 2024, the numbers are very interesting; the overall global investment total is down, but investment transaction (deal count) volume is up with a much greater democratization of capital and focus on early stage investing - in essence the average deal size is down but more equal. The impact of mega-round funding (or lack of) remains a core driver in total investment amounts. Key findings for Q1: · Global InsurTech funding dipped below $1B in Q1’24, falling from $1.103B in Q4’23 to $912.25M in Q1’24, the lowest since Q1'20. · No quarterly $100M+ mega-round deals for the first time since Q3'17. · Early-stage InsurTech funding increased 26.5% quarter on quarter, countering the broader InsurTech funding picture. · Average InsurTech deal size fell sharply by 30.6% quarter on quarter – from $14.14M in Q4’23 to $9.81M in Q1’24. · 28% of Q1'24 InsurTech deals went to AI-centered InsurTechs and 50% to distribution-focused InsurTechs. · The majority of tech investments from (re)insurers were early-stage (62.2%). To understand what is driving these numbers and view our insights on AI, please access the complete report. Full report available for download at the bottom of the link https://lnkd.in/dyg2zkxr Now to our wonderful participants – this report would not be possible without the following companies and people featured; bolttech (Rob Schimek, Kate Geraghty, Keith Boi, Stephan Tan), REIN (Jason Griswold, Jay Klemanski), Semsee (Philip Charles-Pierre, Lauri Klotz), Rainbow (Bobby Touran), Google Google Cloud Admiral Group Plc (Nigel Walsh, Laura Wheeler, James Carnduff), Gallagher Re (Ed P., James Poynter, Preeti Vodnala, Ph.D., Ed Messer), Iain Willis, Dr Tina Thomson, Adam Cherubini, Markd (Parker Beauchamp), Slipcase (Alex Hearn, Diptarko Chowdhury), our partners CB Insights (Christopher Sekerak), and Gallagher Re InsurTech; Freddie Scarratt, Irina Heckmeier, Brea White, Mark Cobley and Jonathan Ward. #insurtech #gallagher #gallagherre
Global InsurTech Report for Q1 24 | Gallagher Re
ajg.com
-
I'm not sure most people have wrapped their head around the impact AGI is going to have on insurance billing. All the crazy complex rules they design to make getting paid difficult are simple for LLMs to pick apart. I imagine their strategy for gatekeeping reimbursement etc. will need to shift. If you are doing any research in this space or are building this now let's connect, I find this topic incredibly interesting. #AGI #ArtificialIntelligence #InsuranceBilling #InsurTech #MachineLearning #AI #HealthcareBilling #TechInnovation #FutureOfInsurance #DataScience #Reimbursement #HealthcareTech #BillingSolutions #AIResearch #TechTrends #Innovation #StartupCommunity #Entrepreneurship
-
InsureTech Connect Asia, the region’s largest insurance event, brought together industry leaders, tech entrepreneurs, and investors for three days of insightful discussions and trendsetting ideas. Celent hosted a preconference session,"Empowering Resilient Analytics and AI/ML and Driving Transformation for Future Success," that featured two panels moderated by my colleagues Max Ang and Nicolas Michellod, diving deep into the top trends in the insurance industry. Curious about the key takeaways? Watch both panels for an inside look into the future of insurance innovation and digital transformation > https://lnkd.in/eKixzXMF #ITCAsia #InsuranceInnovation #AI
Founder & Agency Owner at The McBride Agency
1moAgents need to be strategic about their tech stack, particularly with the influx of AI-powered startups. We now wield unprecedented influence over the technology being developed. The industry is brimming with innovative minds eager for agent feedback. Love your take and love what’s going on at 101 Weston Labs