Ryan Kottenstette: CEO & Founder of Cape Analytics: Geospatial imagery and aerial insights (58)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 8 December 2019

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

Ryan Kottenstette founded Cape Analytics in 2014 to help companies identify building characteristics based on aerial imagery. Five years on and Cape has analysed 80% of the US population (in terms of physical property risk) with the resulting data being used to help price and manage insurance policies and reinsurance portfolios by over 30 companies. Today the company ranks as one of the best known technology companies in insurance to have emerged in the last few years. Ryan and Matthew's topics discussed: the challenges (and successes) he has seen when building a company using satellite, aircraft and drone data for more accurate pricing use of third-party data dealing with uncertainty the growth in "insurtech" and insurance innovation understanding wildfire risks through artificial intelligence approving new class plans and rate filings the importance of focussing on customer needs If you want to hear more from Cape Analytics, they will be in London at the end of January and we are hosting a breakfast event for them. Details in the Instech London newsletter. You can stay up-to-date with all our 2020 events, plus find out how to become an InsTech London member, at www.instech.london.

Transcript

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0:00.0	We've been successful with our customers, getting new class plans and rate filings approved.
0:07.0	To date, we've been approved in multiple states to actually price insurance policies with our data.
0:16.0	Hello, Matthew Grant here. Great to have you back. Or if this is your first time listening,
0:23.8	I'm delighted to have you join us. Well, with winter approaching us in London and the nights
0:28.1	drawing in, we're importing a little bit of sunshine by talking to some old friends from California.
0:34.2	This week, it's Ryan Cotostetti, founder of Cape Analytics and described by one well-known
0:39.6	industry figure as their favorite CEO. Now, Cape was founded in 2014 to help companies identify
0:47.5	building characteristics based on aerial imagery, which is then aminalized by Cape. Until now,
0:53.5	they've been focusing on North America
0:55.4	providing their data to insurers and reinsurers but they've successfully crossed
1:00.3	that dreaded Jeffrey Moore chasm on the technology adoption curve and now have a
1:05.0	number of well-known insurers and reinsurers as clients. We're also delighted to
1:10.6	welcome Cape Analytics as a member of Insteck London
1:13.4	and we'll be hosting a breakfast event for them in January when they're coming over here.
1:18.3	So if you are an insurer, a reinsurer or a broker and you're interested in attending,
1:23.6	do let us know. Contact details will be in the episode notes.
1:32.9	Thank you. Do let us know. Contact details will be in the episode notes. So Ryan, great to have you joining me today. I think you're calling in from California,
1:37.8	your head office. Yeah, that's right, Matthew. Thanks for having me. I'm based here in Silicon
1:43.6	Valley in our headquarters office in Mountain View. Good. Well, we roll into winter. It seems to build a lot of very sensible place to base itself. And actually, we first met in California last year at the PIR conference. That's right. That's been a conference we really enjoy. And recently we've become a a sponsor and so I'll be there again
2:01.3	this this year in just a couple of weeks. Great. I think I described to somebody recently as the
2:05.7	thinking persons in Short Tech Connect. It's a smart group. It's a much more intimate setting. We've
2:13.6	been there I think probably going on four or five years, and it's one of the conferences we really enjoy.
	...

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