Insurers need help, says startup boss

Across Europe, insurers spend billions of dollars every year in just claim processing costs, and they need help changing this, according to Lex Tan, founder of insurtech startup MotionsCloud. Tan is one of more than 20 startup founders discussing the insurance market at the annual Intelligent InsurTECH conference on October 3 in London. Click here to find out more. Munich-based MotionsCloud provides an intelligent claims solution for P&C insurers to streamline and automate claims processes. The startup utilises image recognition technology and deep learning technology to identify damage through photos.