Florian Graillot
January 5, 2024
A US perspective on the state of innovation and technology in insurance. You are not ready for slide 33. Adrian Jones put together 44 very insightful pages. He analyzed where incumbents stand in terms of innovation, room still available to do better and how technology should help. In addition, he detailed what InsurTech startups should consider when trying to revamp that industry.
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For banks and credit unions that want to partner with or procure technology from fintech companies but don’t know where to start, we now have a plethora of funds and accelerators (hi TruStage Ventures!) specifically designed to bring banks and credit unions together with fintech companies. These funds and accelerators also help fintech companies that want to work with banks and credit unions but don’t have a lot of experience navigating those companies’ org charts, procurement processes, and technology stacks.
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Like all machine learning, LLMs turn a logic problem into a statistics problem: instead of people writing the pattern for each possible question by hand, which doesn’t scale, you give the machine a meaningful sample of all the text and data that there is and it works out the patterns for itself, and that does scale (or should do).
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