AI in Insurance: Setting New InsurTech Benchmarks and Managing Risks in 2024
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GlobalFintechSeries
Ongoing, First published Jun 28
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The role of AI in the insurance industry is seldom reported with the same animated vibe as it is done for other front-runner industries. The maturing Generative AI or GenAI landscape has forced insurance companies and related insurtech service providers to embrace the fast-paced transformation with calculated risks. AI in Insurance in 2024 is expected to be a major game-changer as insurtech companies look at advanced machine learning and deep learning algorithms to meet industry expectations. An avalanche of insurance-focused big data mined from a wide range of connected devices will increase the demand for superior product categories for AI in insurance companies. To understand how artificial intelligence and machine learning applications in insurance product categories can potentially disrupt the sector, we spoke to Rhino's co-founder and CEO, Benjamin Lantos.

What's Rhino? Rhino is a proptech startup that specializes in security deposit insurance. In 2017, Rhino pioneered security deposit insurance, replacing c*** deposits with smart, affordable insurance so renters can maintain control of their c***. Here's the full transcript of our AIThority Interview with Rhino's CEO.

AI in Insurance: Setting New InsurTech Benchmarks and Managing Risks in 2024Hi Benjamin, welcome to the AiThority Interview Series. Please tell us about your tech journey.
Before co-founding Rhino, I worked in multifamily rental development, overseeing acquisitions, development, and management. I also spent time at Goldman Sachs raising capital, structuring d*** and repositioning consumer and real estate assets. All of these experiences led me to see - along with my co-founders - the tremendous opportunity for digital transformation in the rental industry. We began building products to put m********* in renters' pockets, offering security deposit insurance, digital c*** deposit management and compliance, and renter's insurance - all via a modern SaaS platform.
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