Search a title or topic

Over 20 million podcasts, powered by 

Player FM logo
Artwork

Content provided by Darius Gant. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Darius Gant or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.
Player FM - Podcast App
Go offline with the Player FM app!

Using AI for Insurance Claims and Underwriting | Stan Smith, Gradient AI

46:40
 
Share
 

Manage episode 467437042 series 3647567
Content provided by Darius Gant. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Darius Gant or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.

Artificial Intelligence (AI) has revolutionized how businesses operate, and supply chain management and insurance are no exceptions. With the ability to analyze vast amounts of data and identify patterns, AI has the potential to transform supply chain operations and insurance claims management, making them more efficient, cost-effective, and responsive to customer demands. In this thought leadership article, we explore the power of AI in supply chain management and insurance.

In this episode, we sit with Stan Smith CEO of Gradient AI. Stan has founded six companies and has been working with machine learning and AI since the late 1990s. Stan shares his experiences working with AI and machine learning, starting with his first startup that focused on supply chain management. He discusses how his company used machine learning to predict which suppliers were likely to have issues and how this helped his clients save millions of dollars. Stan also talks about the pain point he saw in the insurance market and how Gradient AI is assisting businesses to leverage AI to solve complex problems and improve their operations. In this episode, Stan also talks about the importance of equity in startups, the challenges of building AI solutions in the insurance industry, and the measures Gradient AI took to ensure client data was secure.

If your company is looking to scale its AI initiatives, head over to Tesoro AI (www.tesoroai.com). We are experts in AI strategy, staff augmentation, and AI product development.

Founder Bio:

Stan Smith is the Founder and CEO of Gradient AI. Stan founded Gradient AI, first as a unique practice within Milliman to focus on the risk management and insurance industry’s most challenging business problems. He acquired the business from Milliman in 2018, founding Gradient AI as a rapidly growing independent SaaS organization. With nearly 30 years of experience growing AI and technology organizations, Stan’s leadership ensures that Gradient AI is applying the latest Artificial Intelligence and Machine Learning technologies to the insurance industry, resulting in proven financial performance for its stellar list of customers and better treatment and outcomes for individuals. Stan has held founding or executive-level roles for multiple startup companies, including Vice President at MatrixOne, Executive Vice President and General Manager at Agile Software, and CEO and Founder at OpenRatings.Stan also led the development of patented technologies including: technology that predicts bankruptcies for small, privately held suppliers; a global database to improve supplier performance for more than 80 million companies; and, technology that combines assessments with performance data to identify opportunities for reducing inefficiencies through lean initiatives.

Time Stamps:

02:17 Stan Smith's background and experience in the startup world

06:15 Paint point that led to the idea for Gradient AI

09:04 Importance of identifying high-risk claims early

12:18 Ability of Gradient AI's models to accurately predict the cost of a claim

14:32 The complementary nature of AI and human adjusters in claims processing

17:07 Engaging with clients in underwriting operations

19:52 Integration of Gradient AI solutions into commercial systems

23:40 Challenges of building AI solutions in the insurance industry

25:11 Importance of having a team with both AI and insurance expertise

27:14 The importance of culture and team in attracting talent

29:36 Incentives that Gradient AI offers to attract the right talent

32:51 Educating insurance companies about AI and the impact of the pandemic

37:29 Turning interest in AI into investible business problems

40:14 Fundraising journey and partnerships with insurance-focused venture capitalists

41:57 Selecting investors based on industry and AI experience

43:44 Whats coming up new for Gradient AI

44:10 How to get in contact with the Gradient AI team

Resources:

Company website: https://www.gradientai.com/

Twitter: https://twitter.com/GradientAI1

Facebook: https://www.facebook.com/gradientai/

LinkedIn: https://www.linkedin.com/company/gradientai/

  continue reading

99 episodes

Artwork
iconShare
 
Manage episode 467437042 series 3647567
Content provided by Darius Gant. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Darius Gant or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.

Artificial Intelligence (AI) has revolutionized how businesses operate, and supply chain management and insurance are no exceptions. With the ability to analyze vast amounts of data and identify patterns, AI has the potential to transform supply chain operations and insurance claims management, making them more efficient, cost-effective, and responsive to customer demands. In this thought leadership article, we explore the power of AI in supply chain management and insurance.

In this episode, we sit with Stan Smith CEO of Gradient AI. Stan has founded six companies and has been working with machine learning and AI since the late 1990s. Stan shares his experiences working with AI and machine learning, starting with his first startup that focused on supply chain management. He discusses how his company used machine learning to predict which suppliers were likely to have issues and how this helped his clients save millions of dollars. Stan also talks about the pain point he saw in the insurance market and how Gradient AI is assisting businesses to leverage AI to solve complex problems and improve their operations. In this episode, Stan also talks about the importance of equity in startups, the challenges of building AI solutions in the insurance industry, and the measures Gradient AI took to ensure client data was secure.

If your company is looking to scale its AI initiatives, head over to Tesoro AI (www.tesoroai.com). We are experts in AI strategy, staff augmentation, and AI product development.

Founder Bio:

Stan Smith is the Founder and CEO of Gradient AI. Stan founded Gradient AI, first as a unique practice within Milliman to focus on the risk management and insurance industry’s most challenging business problems. He acquired the business from Milliman in 2018, founding Gradient AI as a rapidly growing independent SaaS organization. With nearly 30 years of experience growing AI and technology organizations, Stan’s leadership ensures that Gradient AI is applying the latest Artificial Intelligence and Machine Learning technologies to the insurance industry, resulting in proven financial performance for its stellar list of customers and better treatment and outcomes for individuals. Stan has held founding or executive-level roles for multiple startup companies, including Vice President at MatrixOne, Executive Vice President and General Manager at Agile Software, and CEO and Founder at OpenRatings.Stan also led the development of patented technologies including: technology that predicts bankruptcies for small, privately held suppliers; a global database to improve supplier performance for more than 80 million companies; and, technology that combines assessments with performance data to identify opportunities for reducing inefficiencies through lean initiatives.

Time Stamps:

02:17 Stan Smith's background and experience in the startup world

06:15 Paint point that led to the idea for Gradient AI

09:04 Importance of identifying high-risk claims early

12:18 Ability of Gradient AI's models to accurately predict the cost of a claim

14:32 The complementary nature of AI and human adjusters in claims processing

17:07 Engaging with clients in underwriting operations

19:52 Integration of Gradient AI solutions into commercial systems

23:40 Challenges of building AI solutions in the insurance industry

25:11 Importance of having a team with both AI and insurance expertise

27:14 The importance of culture and team in attracting talent

29:36 Incentives that Gradient AI offers to attract the right talent

32:51 Educating insurance companies about AI and the impact of the pandemic

37:29 Turning interest in AI into investible business problems

40:14 Fundraising journey and partnerships with insurance-focused venture capitalists

41:57 Selecting investors based on industry and AI experience

43:44 Whats coming up new for Gradient AI

44:10 How to get in contact with the Gradient AI team

Resources:

Company website: https://www.gradientai.com/

Twitter: https://twitter.com/GradientAI1

Facebook: https://www.facebook.com/gradientai/

LinkedIn: https://www.linkedin.com/company/gradientai/

  continue reading

99 episodes

All episodes

×
 
Loading …

Welcome to Player FM!

Player FM is scanning the web for high-quality podcasts for you to enjoy right now. It's the best podcast app and works on Android, iPhone, and the web. Signup to sync subscriptions across devices.

 

Listen to this show while you explore
Play