Reinventing Finance Podcast

Some of the most discussed AI use cases in the insurance industry revolve around sales, claims, and customer handling. 🤔 But how to ensure that AI is not distributing “uncontrollable output” when it is customer-facing and giving advice? We have heard enough horror stories about customers who have been simply lied to by an unknowledgeable AI... ✅ That’s where conversational AI comes into play and the guest of today’s Podcast episode, Simon Moser, Co-Founder & CEO of muffintech. Currently, muffintech is developing the first conversational AI for the #Insuranceindustry! Acting as a kind of “middle layer” tech between the mere Language Model muffintech Ai is based on, it enables its partners from the insurance industry with a reliable, knowledgeable, and continuously learning insurance AI Model. Their model can automate and enhance certain interactions - For example internal knowledge management, sales function with chatbots, and claims processes. 🎙On the Podcast, Simon shares with me details about: 1) His personal Background and steps that led him to found Muffintech 2) The business model pivoted from a chat-based insurance broker to conversational AI 3) Why insurers are so interested in conversational AI 4) Details about the AI Model and what it is built upon  5) The potential added Value for insurers and brokers 6) Pricing of the AI solution 7) Proven use cases and industry solutions for internal knowledge management, chatbots for sales function, and claims processes 8) The muffintech Team and the balled expertise in AI, Machine Learning, Data Science, UX  9) Why and when insurance partners should partner with them instead of the competition 10) The biggest obstacles for muffintech in their partnership with insurers and how to overcome them Listen to the podcast episode on Youtube 🎬 https://lnkd.in/e9G9bz8D Spotify 🎧 https://lnkd.in/eRPFaYYb

One of the key challenges in the #motorinsurance industry is the lack of transparency around motor repair and the dramatic inflation of repair costs in recent years. - What if you could cut costs attached to #motor #claims by 30%? This is already possible with the support of technology, AI, and the right set of data and expertise. Join Eliron Ekstein and me on this podcast episode of the Reinventing Finance Podcast, where we explore how Ravin's AI-driven solutions are transforming the way insurers can manage motor claims and cut overhead costs - all while augmenting efficiency and customer trust throughout the process. Eliron is the CEO and Co-Founder of RAVIN.AI, a tech start-up transforming the automotive industry with fully autonomous, over-the-air vehicle inspections using everyday cameras and AI. The application of the tech in #insurance is one of the possible business cases. If damage occurs, the process of FNOL can be easily initiated at the scene (e.g. by a customer or a towing service truck driver). This helps triage out the cases of a total loss of vehicles (10-15%) and cases that are too small to repair (another 10-15%) before the first major overhead costs even incur. Settlement can be easily automated in these cases. In all other cases, Ravin's #AI based technology can help determine remotely the state of a vehicle before and after an incident, assess the damage and even suggest adequate associated costs to repair based on their internal cost database. If you're looking to stay ahead of industry challenges and optimise your claims strategy, this episode is a must-listen! 🎧 https://lnkd.in/eUnSCG7c 🎬 https://lnkd.in/eWAeNJ6m

One of the key challenges in the #motorinsurance industry is the lack of transparency around motor repair and the dramatic inflation of repair costs in recent years. - What if you could cut costs attached to #motor #claims by 30%? This is already possible with the support of technology, AI, and the right set of data and expertise. Join Eliron Ekstein and me on this podcast episode of the Reinventing Finance Podcast, where we explore how Ravin's AI-driven solutions are transforming the way insurers can manage motor claims and cut overhead costs - all while augmenting efficiency and customer trust throughout the process. Eliron is the CEO and Co-Founder of RAVIN.AI, a tech start-up transforming the automotive industry with fully autonomous, over-the-air vehicle inspections using everyday cameras and AI. The application of the tech in #insurance is one of the possible business cases. If damage occurs, the process of FNOL can be easily initiated at the scene (e.g. by a customer or a towing service truck driver). This helps triage out the cases of a total loss of vehicles (10-15%) and cases that are too small to repair (another 10-15%) before the first major overhead costs even incur. Settlement can be easily automated in these cases. In all other cases, Ravin's #AI based technology can help determine remotely the state of a vehicle before and after an incident, assess the damage and even suggest adequate associated costs to repair based on their internal cost database. If you're looking to stay ahead of industry challenges and optimise your claims strategy, this episode is a must-listen! 🎧 https://lnkd.in/eUnSCG7c 🎬 https://lnkd.in/eWAeNJ6m

Episode 51 of our Reinventing Finance Podcast! Tune in to find out more about digital #customerexperience.

In this episode of the Reinventing Finance Podcast, I had the pleasure of talking with a repeat guest, Frederik Wulff, the CEO of Markel Insurance SE (European carrier within the Markel Group) and who is in charge of the European business of Markel about the topic of "InsurTech M&A", a topic Markel is quite familiar with. In the conversation, we discuss together recent and seasoned cases of M&A in the insurance industry and share thoughts and perspectives on the different industry cases and topics: 📍Challenges at Iptiq around scaling (Acquired by Swissre) 📍Wefox's struggles, repeated pivots and failure to meet expectations. 📍The strategic merger of Gothaer and Barmenia, focusing on their complementary strengths and the benefits of strategic alignments and market positioning. 📍Ongoing trend and future expectations for broker consolidations 📍MRH Trowe is an example of successful consolidation in the German market 📍How regional market dynamics and international market dynamics can affect strategic decisions in the M&A space 📍M&A Culture & Strategy at Markel and some examples Listen to the episode now! 🎧 https://lnkd.in/gAfubtJg 📽 https://lnkd.in/ggY5jsHK To find some actionable M&A recommendations from the episode, check out the comment section below! #FinTech #InsurTech #insurance #finance #growth #investment #business #strategy

2024 has been the year of #AI – Many have talked about it, tested it and hyped it. But what are the risks associated with deploying AI across your organisation and using AI or skipping it? Simon Torrance is the Founder of AI Risk, a startup focusing on reducing the risks of AI #innovation and adoption and helping leaders understand the risks associated with developing and deploying AI around their organisation(s) and connecting them to the best solutions. In this podcast episode of the Reinventing Finance Podcast, Simon, a well-known Thought Leader on Embedded Insurance, discusses his career path as a long-term advisor on Business Model Innovation with me and how he found his startup AI Risk right at the beginning of the global hype around new AI technologies. The discussion centres around four categories of AI risk to consider when focusing perspective on #insurance companies: 1) Strategic Risk (= How to not become outcompeted by insurance companies (or other companies as they use tech more efficiently)) 2) Financial Risk (= How is the opportunity cost / POC) 3) Operational Risk (= How to protect from and cover cyber threats, reputational risks, talent risks and other risks associated with daily operations) 4) Compliance Risk (= How to make sure you adhere to compliance standards and ethics) On top of a deep dive into the risks side, Simon also shares insights, use cases, and future perspectives on AI for the #insuranceindustry. Check out the episode to find out more! 🎬 https://lnkd.in/eDDUUTfU 🎧 https://lnkd.in/eCqVFqZP #Insurance #Finance #Versicherung #InsurTech #Startup #AIrisk #artificialintelligence

Check out our new #podcast episode! 🔽 More details in the post below.

On my way to the #ITCDIAAMS24! I have a long day ahead of me but I am also excited about the event and to meeting many friends and partners from the #insurance and #insurtech scene at the ITC DIA #Amsterdam this year! Delighted to hear some new #insights and have some exciting conversations about tech, embedded insurance and growth projects. Let me know if you are at the event, so we can connect in person! Sergej Tolz Oliver Müller and I will be there at tonights kickoff party and you can meet us at the venue on Wednesday and Thursday. We at KASKO would love to connect with you! PS: For everyone who has not yet booked a ticket and is in town, don't miss out on the event! Use our special branded discount code MP200RF to claim €200 off your ticket for ITC DIA Europe Amsterdam 2024 here!  https://lnkd.in/eFQEFaSm Thanks to the The ITC DIA Europe Community for partnering with us on this opportunity and for our continous collaboration on the Reinventing Finance Podcast! Roger Peverelli Reggy De Feniks Tom VAN DER LUBBE #ITCDIAAMS #ITCDIACOMMUNITY #ITCDIAEU #UptoDIA

📍 Come to The ITC DIA Europe Community Event - Amsterdam edition! This summer, a unique event built within a unique environment allows you to mingle with those who matter in Insurtech and insurance. You’ll follow in the footsteps of thousands of attendees who've learned, networked and partnered with both industry veterans and innovative start-ups. 🗓Save the date! Get together in #Amsterdam on the 12th and 13th of June and get a discount on your ticket(s) using code MP200RF for €200 off the ticket price: 📎 Register here: https://lnkd.in/eFQEFaSm We are delighted that the Reinventing Finance Podcast is a media partner of the event and that we can offer you the opportunity to get your ticket with a discount! You can meet Sergej Tolz, Oliver Müller and myself from KASKO as well as 👋 Ronald Engel at the venue. #ITCDIAAMS24 #UptoDIA #Insurtech #DigitalTransformation #Innovation Ps.: That shot from last year's event lives rent-free on all our feeds 😂

Episode 47 of our Reinventing Finance Podcast. Check out the episode if virtual assets and blockchain-related risks sound like interesting topics 😉