Library: Valuer – How insurtech is reshaping the future of insurance
Executive summary :
Valuer is an AI-driven platform that helps large corporations, investors, and accelerators discover innovative companies that match their strategic needs. Valuer believes that to stay competitive in today’s disruptive landscape, companies must embrace new ideas and entrepreneurship into their innovation setup.
Valuer’s data-driven platform is specifically designed to phase out costly and time consuming accelerators and management consultancies and replace them with novel workflow solutions that identify and assess relevant startups and SMEs at speed.
Founded in 2017, Valuer has a rapidly-growing network of researchers, experts, and advisors from all over the world and has worked with BMW, Siemens Gamesa, Novozymes, Grundfos, and Spirent, among other prominent organizations. About Valuer.ai
About the Industry Insights reports
Published monthly, each Industry Insights report focuses on the emerging trends and disruptive technologies within a specific industry. Enriched with original data from the Valuer platform, the publications provide corporations with valuable information about key innovation areas that can help them accelerate within a competitive and rapidly changing environment. Each Industry Insights report demonstrates how Valuer’s AI algorithms can identify and prioritise innovation hotspots to help corporations recognise relevant emerging technologies. For this purpose, each publication includes one case study of a young company that ranks high within the platform’s calculations.
Finding innovative insurtech companies
The process starts with Valuer processing its database of more than 600,000 companies to identify all potentially relevant to the InsurTech industry. The descriptions of all initially relevant companies are then processed by Natural Language Processing (NLP), which finds patterns impossible to recognise with tags and regular search mechanisms.
At this point, the number of organisations identified is narrowed down to approximately 3000 most relevant ones. The platform then references the companies to the four focus areas listed above. By choosing the ones nearest to a projected point, it selects roughly 200 for each focus area and groups them in clusters (see colour codes on the cluster illustration, Image 1.)
Grouping companies from different areas
The illustration shows the clusters of companies (represented with dots) coloured depending on their projection area. Their proximity to other companies depends on the commonalities of the products or solutions they provide. Even though the platform processes the clusters in 1024 dimensions, we’ve included a 2D interpretation for demonstration purposes (this is also why some dots may seem very distant from their projection areas). The rendered image lets us make several straightforward interpretations.
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