RiskGenius Blog

Insights into our world of Insurance & Technology.

The Insurtech Goldrush Revisited

by Chris Cheatham | Apr 19, 2017 | Collaboration

Something interesting is going on in the insurtech space that I thought I would point out.

It feels like insurtech is maturing.

I am on a plane to California typing this out. It's my second week in a row visiting San Francisco. I am not attending a conference. Instead, I will be presenting to an Insurance Company's Board and Executive Leadership for the second week in a row. 

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Five Clauses that Demonstrate Cyber Insurance Policy Problems

by Chris Cheatham | Mar 10, 2017

A recent article highlighted the fact that only 29 percent of businesses buy cyber insurance. Assuming this number should be higher (it should -- nearly all businesses rely on computers), I already knew one of the reasons why cyber policies are not being purchased.

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Eating Cyber Insurance Policies for Breakfast

Yesterday, I wrote that I need to be doing more and talking less. I've also taken inspiration in Gary Vaynerchuk's Youtube episode "Document, Don't Create."

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What I've Learned About Insurance and Machine Learning

I've been quiet the last month or so. There has been too much to learn.

We are learning from our customers.
We are learning from insurance policies.
And, we are learning from the machine learning algorithms.

Since so much has happened in the last six months, I thought I would highlight some of my favorite RiskGenius learnings.

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Why Insurance Needs Search Engines...And Doesn't Even Realize It

by Chris Cheatham | Sep 09, 2016 | Riskgenius, Technology

How many times have you spent a significant percentage of your day searching your company’s database for one small, yet critical piece of information? How many times have you been hours into a cumbersome search and thought, “Does it truly have to be this hard?”

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Machine Learning will Eat the Insurance World

by Chris Cheatham | Sep 02, 2016 | Technology, Analytics

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How RiskGenius Handles Document Privacy

by Chris Cheatham | Aug 26, 2016 | Riskgenius, Technology

If you have ever negotiated with me, you know that I start at a central point: what is fair? My contract law professor would laugh at me right now; she declared on the first day of class that there is no such thing as "fair." I disagree.  I believe that in life and business, we all have a sense of fairness. Whether we choose to follow that sense is the question.  

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Introducing Genius Search:  The Google Search of Insurance Policies

by Chris Cheatham | Jul 27, 2016 | Riskgenius, Analytics

What would you do if you could go to Google.com and search for insurance clauses and policies?  

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Insurance Tech Transparency is a Good Thing

by Chris Cheatham | Jun 27, 2016
My sales guy, Mike, lectured me recently:  "Why aren't you talking about Technology Enabled Policy Review in your blog posts?"
 
It's taken me awhile to warm up to the idea of talking about our technology for a few reasons.
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Can Insurance Innovate?

by Chris Cheatham | Jun 10, 2016 | Technology
It's a simple question -- can insurance innovate? Think about your answer; I will give you mine at the end of this post.

I've been reading about the history of insurance to understand how we got here. Here's a quick story from one insurance book.

There once was a membership association called the American Insurance Underwriters (AIU). The AIU acted as an agent for member insurance companies in international markets. Each member insurance company held a percentage of the AIU pool by which payments and liabilities were assigned.

In the 1960s, an insurance company and AIU member bid on a contract to insure a large church in Boston. But the insurance company didn't bid the insurance like everyone else. Instead, the underwriting team created a tailored contract with its own rate calculations, "rather than the standard forms and prices other (AIU) insurers had agreed to use."

The incumbent insurer was not pleased:
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