Reporter's notebook: 3 insurtechs moving into market

October 20, 2021 6:25 AM

Cars travel over the San Francisco-Oakland Bay Bridge towards Treasure Island in this aerial photograph taken above San Francisco, California, U.S. Photographer: David Paul Morris/Bloomberg

At InsureTech Connect 2021, companies took the Demo Stage introducing new programs and transformative features including improved AI services, digital-first service for consumers and the acceleration of analytics. Here is a sampling of some companies.

Rachel Olney, Geosite

Nicquana Howard // Digital Insurance

Geosite

Improving data for advanced algorithms to create a better workflow, Geosite builds applications that leverage artificial intelligence and machine learning to fuse satellite, drone, and other data into business operations workflows for logistics, installation management, incident response, and operations planning. Geosite uses multiple streams of data to create an easy-to-use environment on one platform. “Geosite harnesses this immense flow of data to give companies an unfair competitive advantage by allowing them to quickly understand and direct resources to solve problems without the need for expensive teams of experts,” says CEO and Founder Rachel Olney.

Replicant

Claiming to be an autonomous contact and guide to conversational AI, Replicant provides fast service for customers with fluid conversations without awkward pauses, with 94% accuracy on customer conversion with advanced AI.
It aims to makes sense of unstructured call data by automatically transcribing and clustering historical call recordings and transcripts.

Parametrix

Recently launched Parametrix Insurance provides parametric — fast-paying policies that protect against from financial losses — for cyber risks. Monitoring system continuously tracks the availability and performance of customers' mission-critical third-party IT services. Whenever it detects downtime events, the system automatically triggers the policy which pays within 15 days.