Like Thanos, most experts believe that embedded insurance is ‘inevitable’. The interesting questions are when and how we get there. In automobile insurance, we already see the likes of Tesla moving aggressively into the game, with Elon recently claiming insurance might one day represent “30% to 40% of Tesla’s automobile business.”
Artificial Intelligence has been around for decades, but over the last few years it has become an indispensable part of any company strategy. Why is now the right time for insurers to double down on artificial intelligence? What are the drivers and enablers that can’t be ignored, and how can insurers distinguish reality from hype?
Did you receive your check? …maybe even several, from your insurer? Your share of the $13Bn that was paid to insurance customers in 2020? Maybe you deposited the payments and thought “Fantastic, I’ve been paying insurance forever and finally I get a rebate because I’m a good risk.” Did it take a pandemic to bring this to your attention?
Recently BlueZoo processed our 48 billionth mobile device probe. The data collected from thousands and thousands of sensors located inside and outside of buildings has become a critical differentiating factor driving our measurement accuracy. Using this incredible corpus of data we have developed a half-dozen computational methods to hone our results.
Google showcased BlueZoo’s new optical sensors as an example of how to leverage Coral Edge TPUs, cloud computing, and breakthroughs in machine learning to monitor the occupancy and improve the safety of buildings.vIn the demo CMOS optical sensors are used as smart threshold counters – differentiating between employees and customers.
UBI applies driving behavior and mileage as key measures for pricing, and discounts in auto insurance. An analysis in 2020 by Allied Market Research suggested that UBI is rapidly changing the North American auto insurance market and predicted that globally, with a 25% CAGR, UBI will approach $150Bn USD by 2027. There are good reasons for the rapid shift.
