Risks and rewards go hand-in-hand at the Zurich Innovation Championship

Nov 5, 2019

Originally Published in Zurich Magazine

Risks and rewards go hand-in-hand at the Zurich Innovation Championship

The Zest

For Zesty.ai’s Attila Toth, data is a tool to protect people from disasters. He explains how this works and offers top tips on the ZIC, which he calls a once-in-a-lifetime experience.

Attila Toth, co-founder and CEO of Zesty.ai, the silver winner of the first Zurich Innovation Championship, wants to protect people and their homes from risks, such as fires and floods. As the second Zurich Innovation Championship was getting underway, he spoke to us about what it means to enter the competition.

Things that keep people at Zesty.ai busy are the same that preoccupy many insurers and their customers. Climate change has led to hotter, drier weather resulting in dangerous wildfires, while flood risk is increasing. At the Zurich Innovation Championship, Zesty.ai showcased its artificial intelligence-powered solutions to help insurers better analyze such risks. Zurich and Zesty.ai are now working on ways to spot risks to property, from wildfires and floods. Their work can also improve data accuracy, ultimately helping insurers (and their customers) to better price risks.

In the Zurich Innovation Championship that concluded in early 2019, Zesty.ai competed against more than 450 startups from 49 countries around the world. As this year’s Innovation Championship 2020 got underway, Toth talked about how he got involved in the tournament, offered his top tips to this year’s entrants, and explained how he and the gold winner struck up a friendship through the once-in-a-lifetime experience.

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About Zesty.ai

Zesty.ai harnesses the power of artificial intelligence to help the trillion-dollar global property and casualty insurance industry accelerate its digital transformation.  Using the latest advancements in artificial intelligence on 115+Bn data points on residential and commercial properties, Zesty.ai extracts key building features to accurately model the potential impact of catastrophic and attritional loss events.  The same risk insights enable a new age, data-driven dialogue between insurers, customers, agents and regulators.  Zesty.ai was named “Cool Vendor in Insurance” by Gartner in 2019, won the Silver Award at the Zurich Innovation World Championship in 2019 and was voted “The Most Innovative InsurTech Startup” by Plug & Play members in 2018 For more information, visit zesty.ai