Humans have been insuring things ever since we had things to lose. But not all insurance companies are stuck in the past.
American Family Insurance opened its doors in 1927. But the company isn’t letting its legacy business stop it from nurturing new technology. Spinout Arturo takes something we’re all familiar with — satellite images used by the likes of Google Maps — and combines it with emerging technology.
“We take images from space and from the ground and use deep learning to understand better and faster than a human could what’s at that property, what’s the risk, what are the damages, what are the attributes?” CEO John-Isaac Clark (known as jC) explains. Getting a machine to make the tough calculations means a quicker and more accurate underwriting process.
While the technology is powerful on its own, its capabilities are dramatically increased when used in conjunction with American Family’s decades of data and experience.
jC joined the podcast to talk about committing the founder’s cardinal sin, what brought him and American Family together and why a future where drones fly past your window every 30 seconds could actually be a good thing.