The insurance industry has always relied on data to calculate risk and come up with personalized ratings. Today, the sector is undergoing a profound digital transformation thanks to technologies such as machine learning. Insurers are using machine learning to increase their operational efficiency, boost customer service, and even detect fraud. Here are 6 ways machine learning is transforming the insurance industry. ---------------------------------------------------------------------------------------- Note: this post has been updated, to reflect the progress of new technologies and business moves by companies mentioned in the article. ----------------------------------------------------------------------------------------
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Three Things That Keep Me Up At Night with Patrick Tsao, VP of Products at Getsafe
Tomasz Grynkiewicz
The financial services sector is on the eve of a major transformation. Many fintech and insurtech startups forced incumbent players to change their ways of thinking and doing business (we’ve even helped a few fintech startups).
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What’s Next for the Payday Startups? Learn What 3 CEOs Are Saying and get a Free Payday Market Report
Tomasz Grynkiewicz
Almost 74% of people in the UK are worried about unexpected expenses on a daily basis. That’s huge - whether we think of this number as a social problem or a promising target group.
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Fraud Detection with Machine Learning: How Banks and Financial Institutions Leverage AI
Michał Dyzma
The financial services sector is on the eve of a major transformation, and the driving force behind it is AI. Innovative applications for AI have already been found across areas such as credit scoring, regulatory compliance, customer experience, and portfolio management. Thanks to rapid advancements in technology, tasks that once took employees hours to complete manually, can now be done in a matter of seconds.
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A mobile bank, a company fighting for ownership of your data as a human right, a pan-European online marketplace for savings and investments, and a drone insurance startup - we present the 10 hottest fintechs from Berlin right now.
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A digital bank for SMEs, an online marketplace for business loans, a corporate credit card provider, and a company providing banking services to microentrepreneurs in Africa and China - a fintech revolution has come to France. We present the 10 hottest fintechs from Paris right now.
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Whenever you aim to completely change the way the industry operates, expect the road to be bumpy. That is especially true for any fintech app or service. At Netguru, we are proud to have the opportunity to work with those founders who are aware but not stymied by these challenges ahead.
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Swap is a P2P mobile payment app that allows users to send money to anyone on their contact list, any bank account, and any debit card number. The application has already established itself on the Mexican FinTech market. However, after the project matured, Swap's team needed help in adjusting the design to include new services and functionalities. They hired an external design team to help them with the transformation. It worked.
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An investing robo-advisor managing $15bn in assets, a challenger bank for teens, and a credit card without any fees accessible to people without credit history - we present the 10 hottest fintech companies from NYC right now. New York City isn’t the greatest city in the world for Jeff Bezos but it definitely is for a vast array of fintech companies that run their operations in the Great Apple. Close proximity to one of the most important stock markets on Earth makes New York City a treat for them, for sure.
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How to Transform a 300-Year-Old Bank? Meet Dan Makoski, the Silicon Valley Exec on a Mission to Redesign Lloyds Banking Group
Tomasz Grynkiewicz
How to win in the financial world with the fintech expansion in full bloom? One of the largest UK banks decided to pull out the biggest guns - Lloyds Banking Group is investing more than £3bn in transforming the company and scouting talent from the digital world.
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