Exante’s Post

Exante was delighted to be nominated as Emerging Fintech Company of the Year at the National Fintech Awards in the Mansion House last night. Congratulations to the other nominees and all of the winners.

Is it Cake is a Netflix reality show where contestants are shown an item and asked to identify whether it is real, or whether it is a hyperrealistic cake. At Exante we've found ourselves thinking the same way about AI. Our co-founder and CTO Aidan Breen tested the OpenAI and Google chatbots to see if they could help us identify the causes of business interruption in our business continuity indicator. The results looked good, but when we cut into them, they turned out to just be cake! Have a quick read of his short blog post to discover some of the pitfalls of generative AI.

CEO and co-founder Chris talks about the impact of rioting on retail businesses in Dublin on the big shopping weekends in the run-up to Christmas how we can use data to assess the impact on businesses and how we'll soon be able to parametrically detect BI and compensate businesses accurately and quickly.

We're #hiring a new Senior Frontend Developer in Dublin City, County Dublin. Apply today or share this post with your network.

🌬️ Impact of Storm Debi on EV Owners 🚗💡 #StormDebi left around 110,000 homes without power. This poses a new challenge for Electric Vehicle (EV) owners, especially those who rely on home charging during off-peak hours. Many EVs, like my mother's I3, automatically start charging around 5 am to be fully charged before peak electricity rates kick in at 8 am. Unfortunately, Storm Debi hit around that crucial charging time, leaving many homeowners powerless, literally and figuratively. Power outages often affect entire communities, meaning neighboring EV owners may face similar challenges, increasing the demand for public charging infrastructure and alternative transport options. At Exante, we've worked with a forward-thinking insurance provider to address the evolving risks associated with EV adoption. We understand the importance of supporting this transition by anticipating and mitigating challenges through insurance solutions. For instance, our parametric policies can offer peace of mind, providing compensation to EV owners experiencing overnight power cuts. A parametric policy that pays out €50 to an EV owner who faces an overnight power cut may not be particularly useful in a world where the taxis are fully booked, but offering someone a parametric policy that guarantees to pay them out €50 and only asking for a nominal premium goes a long way to remind them that these inconveniences, while annoying, are rare. No one walks their first tightrope without a safety net. The net gives them the confidence to build their experience. Insurance that people can trust plays the same role. Whether it's solar PV, heat pumps, EVs, or otherwise people are facing new transitions and insurance can play a small role in supporting those changes. #ElectricVehicles #EVAdoption #InsuranceInnovation #StormDebiImpact #ParametricInsurance⚡🌐

This year's winter storms have presented huge challenges for businesses already. Closures to infrastructure, floods, and weather warnings have all caused localised business interruption - if you're an insurer trying to verify BI claims, assessing where has been impacted and where hasn't can be tricky. We have worked with partners to get access to a unique data set, daily debit and credit card transactions, and we've designed an API and Dashboard to visualize that transaction data as a business activity heat map. So confirming localised drops in business activity, is now just a few clicks away. #businessinterruption #parametricinsurance #exante #naturaldisasters #weather #transactiondata #businessactivity