Profiles in Risk Dan Schuleman, Co-Founder and CEO at Qumis - PIR Ep. 647
8 snips
Mar 18, 2025 Dan Schuleman, Co-Founder and CEO of Qumis, shares his journey from insurance coverage attorney to tech innovator. He discusses the challenges of interpreting complex insurance policies and how AI can revolutionize the process. Dan highlights the importance of a human-in-the-loop approach to combat AI hallucinations, ensuring more accurate results. The conversation also covers simplifying Directors and Officers coverage and improving transparency in the insurance industry through innovative technology and streamlined services for brokers.
AI Snips
Chapters
Transcript
Episode notes
Manual Policy Review
- Dan Schuleman, a former insurance coverage attorney, found the manual policy review process frustrating.
- He was often handed a binder with highlighters and told to "mark it up," prompting him to seek a better solution.
Unsustainable Expertise
- Many coverage questions rely on individual expertise, like "calling Bob" for answers.
- This reliance is unsustainable, especially with experts retiring, highlighting the need for knowledge preservation.
AI Accuracy Improvements
- While large AI models are helpful, achieving high accuracy requires specialized expertise and adjustments.
- Significant accuracy improvements in AI for complex risk assessment have occurred in the last 12-18 months.