Cole Winans: Founder & CEO, Flyreel: Know your risk; the self-service property inspection tool helping insurers & their clients (129)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 14 March 2021

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

The most useful insurance products are often a combination of a simple concept powered by complex technology. Flyreel’s AI Assistant is a great example, harnessing the potential of AI in a practical application that allows policyholders to conduct self-inspections using their phone camera.Founder and CEO Cole Winans joins Matthew to discuss how insurers are using Flyreel’s technology to create a comprehensive baseline record for underwriting, risk management and claims. Cole also shares some great tips on starting a company, finding customers and how to scale a business.Talking points include: Balancing AI with human intervention How to sell to insurers Developing portfolio risk characteristics through data Why a mutual customer benefit is vital Building a company culture and collaboration Sign up to our newsletter for a fresh view on the world every Wednesday morning. If you like what you're hearing, please leave us a review on whichever platform you use, or contact Matthew Grant on LinkedIn. Continuing Professional Development - Learning Objectives InsTech London is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech London podcast or reading the accompanying transcript, you can claim up to 0.5 hours towards the CII member CPD scheme. To claim 0.5 hours for this podcast, go to the Episode 129 page of the InsTech London website, or email [email protected].

Transcript

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0:00.0	it's not kind of this gasp, oh no, I've been caught.
0:04.8	It's, oh my gosh, I had no idea.
0:08.2	And then they partner to resolve those issues.
0:26.0	We've been joined by some tremendous new members at Instac, London, in the last couple of months, and you've got some really fascinating guests to look forward to over the next few weeks.
0:31.0	Now, one of the things that seems to stand out from a lot of the companies we talk to
0:35.1	is that what they're offering is actually relatively simple to
0:37.6	understand. Now for sure, getting the product market fit right is tough, building what is these
0:43.7	days usually quite complicated technology is hard, persuading insurers to listen is difficult,
0:48.6	and all of that whilst scaling a company to deliver it are all really difficult and lots of opportunity to fail.
0:56.0	So one of the things I like about Fly Reel is that the concept itself is so clear you might even
1:00.7	wonder why you didn't think of it yourself. Well welcome back if you are a regular listener or
1:05.6	even if you are an irregular listener and if this is the first time you've discovered us,
1:09.8	well hang in there.
1:15.5	I think you're going to like this one. Now, Colwynon's going to be talking about how he,
1:19.8	Flywheel, and his team have designed a product that's helping insurers and their clients identify high-risk objects in their policyholders' home. But they're doing it in a way that's
1:24.6	benefit of both the customer and the insurer. We're going to be finding out more about machine learning and computer vision and how they're doing it in a way that's benefit of both the customer and to the insurer.
1:30.4	We're going to be finding out more about machine learning and computer vision and how they tackle some of the really hard problems.
1:33.6	And then we go on to explore what is next to the company and just what you can do once you've gathered all of that data.
1:38.9	Definitely worth hanging there to the end, some great tips on how to build a business from Cole. I'm Matthew Grant, partner at
1:45.0	Indyck London, where we are bringing you the intelligence and the insights on the things that really
1:49.3	matter. Another slightly longer episode today, so much great content in there that we couldn't really
1:53.7	leave anything out. Cole, I've been really looking forward to this interview.
	...

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