Think Insurance is a boring analogue paper heavy business with a static business model and predictably poor customer service? Until recently, so did we, but as it turns out insuretech is gushing with innovation in all areas or the insurance value chain.
In our recent trip to the Norwegian Capital of Oslo we had a surprising encounter with Erik Skaar, CEO and Co-Founder at Tillit. And we say it was surprising because we were stopped cold on our tracks by the astonishing level of innovation Tillit is wielding. Think entirely automated claims processes through software used on drones for crack detection on bridges, repurposed to identify cracks on phone screens. Or advanced math models used to defer risk across all policy holders and offer dynamic pricing that fluctuates on a monthly basis according to how much risk the company is able to spread. Need we say more? Erik and his cofounder having worked in insurance prior to becoming entrepreneurs, witnessed first hand the many inefficiencies in the industry and how poorly customers were generally treated. They set out to change this with smart technology and unconventional thinking. This is one of our favourite interviews and we think it’ll be one of yours too.