Hobart start-up InsurAI has been crowned winner of this year’s InsurtechLIVE pitch contest. 

Broker and founder Dylan Rodricks presented to a panel of judges at the sold-out event in Sydney last Wednesday. 

“We are moving beyond clunky dashboards and building a system where a single chat does the work of 20 clicks,” Mr Rodricks said.   

“While enterprise giants are busy flooding the market with generic AI layers, we are focused on building lean, specialised tools that work alongside existing software and solve problems cost-effectively.” 

InsurAI’s software uses artificial intelligence to make comparing policies, quoting and managing renewals easier. 

Mr Rodricks says it helps brokers work without the usual complexity of tech built by people outside the industry. 

The InsurAI large language model was trained on policies, wordings, endorsements and exclusions to create an insurance-specific system more accurate than generic tools such as ChatGPT. 

“The insurance industry doesn’t need more features,” Mr Rodricks said. “It needs a way for us to stop that 7% of our day wasted on administrative restrictions. 

“We have moved the entire policy life cycle into a unified chat interface. It’s a conversational engine. You simply talk to it ... It compares the policy, wordings and prepares the results in seconds. We have moved from manual screen hopping to a simple back and forth conversation. 

“We automate the repetitive 90% but get in the expert for the 10% that requires human judgment. This is speed of AI but with human expertise when it matters.”