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The need for tech in pricing insurance - The state of Computer Vision - FinTech benchmark in Africa

1️⃣ The need for tech in pricing insurance

Actuaries and underwriters are struggling to effectively do their jobs due to the state of pricing technology, according to a new report from independent research firm Coleman Parkes, which conducted a survey on behalf of pricing-focused insurtech hyperexponential. The report found that over half (56 percent) of actuaries and underwriters believe their organisation’s current technology is limiting their underwriting and actuarial ambitions.

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2️⃣ The state of Computer Vision

Computer Vision (CV) has evolved rapidly in recent years and now permeates many areas of our daily life. To the average person, it might seem like a new and exciting innovation, but this isn’t the case. CV has actually been evolving for decades, with studies in the 1970s forming the early foundations for many of the algorithms in use today

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3️⃣ FinTech benchmark in Africa

The story of technology in Africa in many ways is also a fintech story. The majority of Africa’s 10+ unicorns are fintech businesses, many of which I’ve covered in this column. Across 2021 and 2022, between 40-60% of VC funding in Africa went towards fintech. Coming out of the event, the resounding conclusion is that the future of fintech – and by extension, technology more broadly – in Africa is bright. Here are five reasons why.

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