Tom Wilde, CEO: Indico Data: Better decisions with better data (292)

InsTech - insurance & innovation with Matthew Grant

Mar 3 2024 • 21 mins

“This economy we are heading into [...] we are referring to as the decision economy”.

Robin Merttens spoke to Tom Wilde, CEO of Indico Data on how the company's intelligent intake solution is shaping the decision-making process in the insurance industry by structuring unstructured data.

Data is important in our current 'decision economy'. Indico Data applies generative AI to help insurance companies handle complex and high-volume data challenges, particularly in commercial and specialty lines.

Covering the AI hype cycle, the concept of hallucinations and avoiding hyperbole, tune in to hear Tom Wilde discuss generative AI and why it is an important language for insurers to utilise.

Key talking points:

  • Founded by undergraduates - how Indico Data started
  • In the hype cycle - avoiding hyperbole and thinking rationally
  • Defining generative AI - not an application but a language
  • Indico Data's role in the insurance industry - the data problem
  • Programmed with the user in mind
  • Specialising in commercial insurance
  • Indico Data’s decision to enter the UK market - and off-siding with some football anecdotes

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Continuing Professional Development

This InsTech Podcast Episode is accredited by the Chartered Insurance Institute (CII). By listening, you can claim up to 0.5 hours towards your CPD scheme.

By the end of this podcast, you should be able to meet the following Learning Objectives:

  • Specify why capturing the right data as quickly and as accurately as possible is significant in insurance, to drive correct decision making
  • Explain the term hype cycle and what this means in terms of generative AI
  • Summarise what companies have to focus on when entering a new market

If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 292 page of the InsTech website or email to let us know you have listened to this podcast.

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