Emmanuel Paraskakis

Further AI (YC W24) is building a workforce of AI teammates for the insurance industry to handle repetitive manual tasks involving unstructured data processing and data entry across disjointed systems. Their first AI teammate handles quote generation workflows for insurance brokers & MGAs. The systems in the insurance industry today are highly disconnected, leading to a lot of manual tasks. These inefficiencies cost time and money, which is exacerbated by a shrinking labor pool. Many of these manual tasks couldn't have been automated before the latest advancements in Generative AI. This has led to the rising costs of insurance, which affect every individual in the U.S. Founded by Aman Gour and Sashank Gondala, Further AI is building a workforce of AI teammates to automate these insurance workflows. These teammates can practically automate any insurance workflow involving processing unstructured documents, data entry into internal systems, or even making phone calls. FurtherAI is starting with the workflows of quote generation and renewals as they directly impact customers' top lines. Their initial customers are already saving over $400K in annual costs across these workflows while making them 10X faster and less prone to human errors. Congrats Aman and Sashank on the launch! 🚀 https://lnkd.in/gFjZVxzb

682

101 Comments

Look forward to this session! the always-critical decision on: "build vs buy"...Unless you're a deep tech native company....IMHO 90% of the time corporations should buy because you can: 1. Leverage deep expertise of the technology provider  2. Quickly deploy and utilize features tailored to common business needs 3. Cost-effectiveness and lower initial investment 4. Benefit from tech provider's proven track record with a history of successful implementation

17

Unlock Legacy Data, Slash Costs: Mercury's API-First Revolution Underwriters and claims professionals, imagine accessing your entire policy history without maintaining costly legacy systems while upgrading your insurance platform into one unified system. Too good to be true? Not with Mercury's API-first approach. We're transforming how insurers handle historical data, seamlessly integrating legacy information into our cutting-edge platform. This means you can sunset expensive old systems while retaining instant access to vital policy and claims records. The result? Dramatically reduced IT costs, streamlined operations, and faster, more informed decision-making. No more juggling multiple systems or waiting for data transfers. With Mercury, your entire insurance history can be at your fingertips, empowering you to provide superior service and make smarter underwriting and claims choices. Ready to step into the future while keeping your valuable past intact? Contact me for a free no cost no obligation demonstration of the Mercury Platform - today! #InsurTechInnovation #LegacyDataSolution #CostEffectiveInsurance #MercuryAdvantage

9

4 million claims a year ... not a problem! 👉 OCR Solutions helped 𝗼𝗻𝗲 𝗼𝗳 𝘁𝗵𝗲 𝗟𝗮𝗿𝗴𝗲𝘀𝘁 𝘀𝘁𝗮𝘁𝗲𝘀 𝗶𝗻 𝘁𝗵𝗲 𝗨.𝗦. breeze through Medicare insurance claims with an OCR system on Azure Cloud. 👉 We’re talking faster claims processing— without the headaches! 👉 𝘞𝘢𝘯𝘵 𝘵𝘰 𝘴𝘦𝘦 𝘩𝘰𝘸? Check this link for more details: https://lnkd.in/gWrSxTCu For more insights, Eyal or Leandro will have you covered. #IDScanning #IDVerification #DocumentProcessing #OCRTechnology #FraudPrevention #DataCapture

5

In Vertical SaaS, embedding additional products like insurance can materially expand TAM. However, while the theory is good, very few have been able to successfully pull it off. Sure, you can just use someone’s API to slap an embedded product on top of your control point, but doing that results in minimal difference to a company's growth prospects. It takes real thought to launch the product, when/how to involve sales, etc. We brought in a pro to explain how a VSaaS company can successfully build and sell an insurance expansion product. Cole Riccardi is the Founder and CEO of Authentic, an embedded insurance provider that has worked with companies like Mindbody to help them launch insurance products. In this post, he discusses what levers he's seen SaaS companies pull to have successful embedded insurance launches. You can dive in here: https://lnkd.in/gaUwmZbw

20

Modernize Insurance Tech Painlessly: No Downtime, No Drama! Tired of the "all or nothing" approach to system upgrades that puts your operations at risk? Mercury Platform's modular design lets you modernize at your own pace, transforming your legacy systems piece by piece without disrupting daily operations. Our proven approach has helped insurers slash implementation time by up to 50% while maintaining business continuity. Say goodbye to risky "big bang" implementations and hello to targeted improvements that deliver value in weeks not years - whether you're starting with policy administration, claims processing, or customer service portals. Best of all, with Mercury's zero-cost SaaS license, you can modernize your technology stack without breaking the bank or worrying about escalating user fees. #InsurTechTransformation #ModularInnovation #LegacyModernization #MercuryPlatform

7

Alan, a French health insurance unicorn, is set to leverage AI for profitability after a massive €183 million funding round. 🚀💰 With an aim to streamline operations and enhance customer service, Alan integrates advanced automation and smart technologies into its health services. This strategy is not just about efficiency; it's about creating a seamless, one-stop health app experience for users. 📱🏥 With impressive growth and a solid financial strategy, Alan plans to reach profitability by 2025 in France and 2026 globally. #HealthTech #AI #InsuranceTech #Innovation #StartupGrowth 🌐

10

Guidewire's Tammy Nichols Schwartz, CPCU and other property and casualty insurance industry insiders will share their perspectives on how the industry can make positive strides towards granular understanding of insureds in the April 18 webinar "The Future of Insurance Customer Risk Profiling With Innovative Data & Analytics." #insurance #innovation #insuranceinnovation #insurtech #insurancetechnology #pandcinsurance #propertyandcasualtyinsurance #analytics #data

24

Unleash the Power of Custom Algorithms: Mercury's Sub-Second Pricing Breakthrough Are off-the-shelf rating engines holding you back? Mercury's lightning-fast rating engine is redefining what's possible in insurance quoting! Imagine running your most complex, custom pricing algorithms in real-time, with sub-second response times. That's not science fiction – it's the everyday reality for Mercury users. Our cutting-edge engine doesn't just handle pre-built formulas; it executes your unique, proprietary algorithms at breathtaking speeds. This unparalleled flexibility means you can implement sophisticated pricing strategies that truly set you apart. Whether you're factoring in hundreds of variables or applying machine learning models, Mercury delivers accurate rates instantly. No more compromising between speed and precision – now you can have both! The best part? This power is at your fingertips, no programmer required. With Mercury, you can pre-program rate changes months in advance and thoroughly test them long before their effective dates. This proactive approach ensures you're always prepared for market shifts and regulatory changes, all without the need for technical expertise. Ready to experience the future of insurance pricing? Discover how Mercury's custom algorithm engine can transform your quoting process and give you the edge you've been searching for. #CustomPricingAlgorithms #RealTimeQuoting #InsurTechInnovation #MercuryPlatform #SpeedAndPrecision

4

Join Unstract at Insurtech Insights, NY 2024! Discover how to successfully navigate AI in automating insurance workflows with Kevin O'Brien and Narendran Hariparanthaman at #Booth 419 Ask us how to leverage AI to eliminate manual processes involving unstructured data. See Unstract in action—accurate data extraction from documents of any type, form, format, and complexity throughout the insurance processing lifecycle. For more info: https://lnkd.in/gMjUjCwT #iti2024 #insurtech #InsuranceAutomation #WorkflowAutomation #UnstructuredData

38

Learn how user and customer POV significantly impacts data products. Mano Mannoochahr, Senior Vice President and Chief Data and Analytics Officer, at Travelers, speaks with Jack Berkowitz, Chief Data Officer at Securiti, in a video interview about generating value for customers using data analytics and the need for product owners to have field experience before developing solutions. The experience of field visits at John Deere early in his career led Mannoochahr to spend about a week with the field organizations in operation centers at Travelers right after joining the organization. The experience of working alongside frontline employees accelerated his learning. 👉 WATCH the interview here: https://hubs.ly/Q02Frfw40 You can also find this episode on our podcast page! 🎧 LISTEN here - https://hubs.ly/Q02FrbPq0 Did you find this post relevant? Like it, share your views with the interviewee, and #tag others who can benefit from it in the comments.👍🗨️ #Leadership #DataManagement #ThoughtLeadership #TalentDevelopment

73

1 Comment

P&C Insurance gets a “Mulligan” Cloud Transformation has been limited over the last decade. AI is the buzz - you can’t be meaningful with an AI focus unless you have the following: 1) Clean Enterprise Data and lifecycle understanding and operation 2) Cloud OPS maturity? Do you get it? Do you measure value? Can you quantify it? 3) Leadership support and understanding from top to bottom and bottom to top This is a chance to reset your cloud transformation with focus on Gen AI It might just get you clean data and cloud ops maturity… Forget the ball that sliced and went into the woods. Start fresh. Cognizant can be a great “swing coach”

7

“GenAI for CX, Cybersecurity, Fraud Detection, and Marketing Workflows in Insurance - with Dr. John Rares Almasan of TIAA” https://lnkd.in/d_MacVm Today’s guest on the ‘AI in Business’ podcast is Dr. John Rares Almasan, Head of AI & Emerging Technologies at TIAA. TIAA, known formally as the Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, is a prominent US-based insurance and retirement services provider, catering specifically to sectors such as academia, research, healthcare, and government. Dr. Almasan joins Emerj Artificial Intelligence Research CEO and Head of Research Daniel Faggella on today’s podcast to discuss AI in insurance with a focus on governance, talent, and innovation. Together, they cover tangible AI implementations, showcasing how these technologies enhance customer experiences, streamline fraud detection processes, and optimize marketing strategies. The dialogue between Dr. Almasan and Mr. Faggella shed light on the transformative potential of AI in reshaping traditional insurance practices, providing listeners with a comprehensive understanding of its impact on operational efficiency and customer satisfaction. #AI #Business #Insurance #Innovation #Governance #Talent #CustomerExperience #FraudDetection #Marketing #ArtificialIntelligence #Podcast #Technology #Leadership #TIAA #Emerj

3

Why Data Isn’t Just for Policies: It’s Key to Empathetic Marketing In 2024, the insurance industry is more data-driven than ever. We use data to assess risk, streamline underwriting, and improve claims processes—but are we using it effectively for marketing? Today, I received a sale reminder from a clothing company while bracing for a hurricane. Their “surprise” was supposed to drop at midnight—right when the storm is expected to hit. It got me thinking about how we, as insurance brokers, use data in our outreach. With access to location data, weather alerts, and real-time context, we have the tools to connect with clients on a deeper level. Yet, some companies still miss the mark by sending impersonal, irrelevant messages at the worst possible times. For brokers, leveraging customer data isn’t just about personalized policy recommendations. It’s about empathy—reaching out when it matters and avoiding tone-deaf communication during critical moments. A well-timed, thoughtful message can build lasting trust with clients. But a poorly timed marketing pitch? That can erode confidence in your brand. As brokers, let’s use data not just to manage risk, but to strengthen relationships and show our clients we’re paying attention—especially when it counts. For anyone riding out the storm, stay safe. Perhaps buy some Spanx. I hear they have a sale 😊 #InsuranceMarketing #DataDriven #EmpathyInBusiness #CustomerTrust #HurricaneSeason #RelationshipsMatter

18

5 Comments

The influx of Ag data that is being collected due to extreme weather events, shifting patterns, and growing uncertainty has given rise to the problem of data fragmentation. The inability to effectively standardize, integrate, and analyze Ag data has made it difficult for Ag stakeholders to assess risk, manage claims, and optimize growing practices. Check out this article by Sarah Bratschun where she talks about how we are using AI to help our customers address these challenges. 🌱 #Agriculture #AI #AgTech #RiskManagement #Sustainability

7

🚀 Generative AI isn't a silver bullet — it has potential to be game-changer for insurers but needs a Digital Foundation! This article reinforces my thought on the use of GenAI by Insurers. To truly capitalize on GenAI's potential, insurers need a robust framework that ensures its strategic integration: 1️⃣ Start with Visionary Leadership: Success begins with the C-suite. Without their guidance and buy-in, GenAI initiatives will fail. It's the vision from the top that fuels all other discussions. 2️⃣ Build Cognitive Infrastructure: Lay the foundation with hybrid cloud platforms, solid security policies, edge computing, and other purpose-built assets. This tech backbone will support and elevate the GenAI efforts. 3️⃣ Establish an AI Control Pane: Implement ethical, secure, and compliant measures to track and manage GenAI's impact. This ensures reliable deployment and continuous improvement. 4️⃣ Optimize Data Layers: Transform both structured and unstructured data with GenAI models to unlock new insights and efficiencies across the organization. 5️⃣ Enhance Operational Functions: Use intelligent AI chatbots and other tools to revolutionize customer service and other functional activities. This is where GenAI’s vision becomes reality. 👉 The takeaway? Establish a Digital Foundation first. GenAI without it is just another fleeting trend. Ready to transform? Start with a Digital Transformation initiative that integrates GenAI. https://lnkd.in/ewTg2xAk #GenAI #Insurance #DigitalTransformation #Strategy #GBH #GBHTech

3