Near real time hazard data - around us and above us (167)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 5 December 2021

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week, we’re bringing you the highlights from our recent live event featuring companies providing and using near real time hazard data to speed up claims handling, reduce costs and provide more accurate underwriting. Data is only any good if it can be easily embedded in the workflow - so we get practical and specific with all our guests to explore real case studies and challenges they have overcome. Matthew leads off talking to CEO and founder of ICEYE Rafal Modrzewski and Head of Insurance Solutions Lisa Wardlaw. Extracts follow from: Forbes McKenzie, CEO, McKenzie Intelligence Services Alun Jones, Chief Commercial Officer, Addresscloud Andrew Smith, Chief Operations Officer, Fathom Jonathon Hopper, Claims Manager, Atrium Underwriters Colin Masson, Head of First Party Complex Claims, Beazley Gethin Jones, Co-Founder & Executive Director, Skyline Partners Talking points include: Using radar satellite imaging technology to assess flood depths at individual building level Tracking climate risks and risk movements in near real time The potential and future role of parametric insurance for property risks How new data and technology is improving climate change models Using real time data to make faster claims payments If you would like to hear more about the companies featured on this episode, click the links above to see additional content on their InsTech London member profiles. Additional podcast episodes are also available for ICEYE, McKenzie Intelligence Services, Fathom, Atrium Underwriters and Skyline Partners. If you like what you're hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn. Sign up to our newsletter for a fresh view on the world every Wednesday morning. 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. The Learning Objectives for this podcast are: Understand some of the ways that innovation is changing the claims process for climate risk Compare sources of hazard data and uncover its importance in the claims process Learn how better monitoring of hazard data could help improve the customer experience If your organisation is a member of InsTech London and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 167 page of the InsTech London website or email [email protected] to let us know you have listened to this podcast. To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey.

Transcript

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0:00.0	Well, with the end of year in sight, it's quite a relief to manage to get back to where it all started in stack.
0:17.2	We've managed to hold five live evening events since the summer, one party and five dinners.
0:23.7	On the 9th of November, we were supported by Ice-I and back up to full strength, with over 200
0:29.7	people in the room again. The subject was the use of real-time data with a focus on claims
0:34.9	and flood. We've mined the recording from that event for the highlights and insights,
0:39.5	and you're going to be hearing from some old friends and some new ones.
0:43.0	Now, one of the benefits of what we do at InSTECH these days is that we are talking to over 250 companies a month.
0:48.5	We're meeting with both insurers as the users of technology and the technology companies that are driving innovation from the
0:56.0	startups to the grown-ups all around the world. And our events reflect us too. This week we have
1:02.1	Beasley and Atrium on stage talking about how they are using data and who they are working with
1:07.9	alongside some of the most interesting data and analytics solutions
1:11.9	in this space. Well, if you're in the shrinking minority of companies that are not already working
1:17.4	with us in some way and want to find out what you're missing, then please do track me down
1:21.8	Matthew Grant on LinkedIn or any of us via hello at instec. London.on and if you are in London in December, you could even
1:29.4	meet up in person. Well, here we go with the recordings. First up on stage is Rafael Modreski,
1:35.0	CEO and co-founder of ISI and Lisa Wardlaw, Global Head of Insurance Solutions at ISI.
1:53.4	The satellite obviously is a mean to something, right?
1:57.0	We consider it a piece of a tool or infrastructure.
2:03.1	Now, the key is what it enables, and it enables gathering the type of information that it was completely impossible before. So imagine that we currently own a constellation of
2:08.6	14 of those satellites. If you were to pick a place right now, we would be able to be there
2:14.3	within two hours, three hours, take an image, regardless whether that place
2:19.0	is dark, whether it's night or day, whether it's rainy or cloudy, or whatever weather
	...

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