FNO: InsureTech Ep 239 - CEO of Pinpoint Predictive, Scott Ham
This week, Rob welcomes on Scott Ham, the visionary CEO of Pinpoint Predictive, a groundbreaking AI-driven deep learning product. Scott provides insights into his career journey and the pivotal moments that led him to spearhead Pinpoint. He sheds light on the remarkable capabilities of Pinpoint's AI-powered platform, showcasing its prowess in solving complex real-world problems by harnessing billions of data points within expansive datasets. Scott also shares some of the glowing testimonials that attest to Pinpoint's transformative impact, illustrating how seamlessly it collaborates with underwriters to revolutionize decision-making processes.
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What You’ll Hear In This Episode:
[4:18] Where o’where has Lee been?
[9:01] How Scott’s background at Transamerica and McKinsey led him to Pinpoint and influenced his approach.
[13:45] Pinpoint uses behavioral data from 250 million US adults to predict insurance losses.
[15:04] The importance of preducing claim severity, frequency and loss cost at the beginning of the insurance process to improve solvency and fairness.
[18:24] Why underwriters are not threatened by Pinpoint’s technology.
[21:16] Pinpoint currently focuses on PNC.
[23:09] How the legal community has responded to Pinpoint.
[25:07] The importance of addressing fairness and bias in AI models, particularly in the insurance industry.
[27:00] Proactively addressing regulatory concerns by conducting audits.
[30:04] Using Pinpoint at renewal.
[31:51] What is a deep learning platform?
[34:47] Using AI to improve insurance risk assessment and loss ratios.
[37:03] What response has Pinpoint seen by actuaries?
[38:42] How and why Pinpoint is easily deployed and reduces client onboarding time from months to weeks.
[43:43] Growing and expanding Pinpoint in a thoughtful manner.
[45:29] Pinpoint’s future and that they are made up of a team of technologists and the best insurance executives.