Rachel Olney: Founder & CEO, Geosite: Your gateway to global geospatial data (235)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 19 March 2023

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

With so much data now available from above us and around us to help understand properties, how should insurers, governments and others know which is the most reliable to use - and importantly - how to deal with the uncertainty and sometimes conflicting opinions? This week Matthew Grant is talking to Rachel Olney, Founder and CEO of Geosite. Join us to discover: The key problem Geosite is solving for insurers and others How Rachel discovered that insurance offered the biggest opportunity to launch a new business Lessons from working with the US Department of Defense Why does “accuracy” mean different things when identifying building locations depending on the hazard? What are the top three attributes founders need to be successful? We’d love to know what you think about this episode - click here and add your thoughts to our LinkedIn post about it. If you like what you're hearing, please leave us a review on whichever platform you use or leave a post on Linkedin or contact Matthew Grant on LinkedIn. Sign up to the InsTech newsletter for a fresh view on the world every Wednesday morning. To find out more about InsTech, our membership and offerings visit www.instech.co or contact us [email protected] Continuing Professional Development - Learning Objectives InsTech is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech podcast or reading the accompanying transcript, you can claim up to 0.5 hours towards the CII member CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: List some of the opportunities the insurance industry presents for start-ups Describe some of the key differences between organisations when it comes to decision-making Identify the different solutions to some of the biggest challenges insurers face If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 235 page of the InsTech 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	Rachel, delighted to have you today talking to us. You just recorded a podcast
0:14.3	was in Short Tech Australia. So you set the bar high in terms of, I want to say competing because
0:19.7	we're all collaborating these days. Well, and I have to say,
0:22.7	you know, you have to compete with Vanessa as a host. She's fantastic. Well, you already made me feel
0:28.1	humble. You were over in, in California, in Palo Alto. Extraordantly enough, the weather over there
0:33.7	hasn't been quite as good as, and then here today in London, we've got bright sunshine.
0:37.8	Yeah, yesterday was one of the first sunny days in a while. And, you know, we brag about all
0:42.1	of our sunshine in California, but with climate change, there are wild things happening. And
0:47.5	California is going through what we're calling an atmospheric river in our little pocket of the Bay Area.
0:54.0	We've gotten 163% of the rain that would be
0:58.0	anticipated for the entire season already this year. And really terrible weather, actually.
1:04.4	Well, that's a spray river. That's a new term. It was, what, like two, three years ago,
1:07.4	that California was going through some serious drought. And now you sort of, all the rain, you should have had them plus some more by the signs of things.
1:13.7	We're definitely happy to have our sunshine back.
1:16.1	Well, let's keep talking about California, because you yourself came out of Stanford University.
1:21.3	You did mechanical engineering, amongst some other degrees.
1:24.6	And your CEO and co-founder of Geosite, which you found it after you left Stanford.
1:28.7	Initially, I saw you were actually working for the Department of Defense, really interested
1:32.2	hear a little bit more about that, and then you've got $5 million of funding, and you've already
1:36.8	got some well-known insurance companies, and I think one of them is backing you.
1:41.4	We're going to hear a bit more about GSI in a minute and what you're doing to
1:44.8	reduce uncertainty and help improve accuracy for insurers assessing property risk worldwide.
	...

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