Late-Stage Technologies that Minimize Financial Risk

Late-Stage Technologies that Minimize Financial Risk

The following is a case study of the work that was carried out by PreScouter for a client in the insurance industry.

About the client:

The Client’s organization specializes in personal and commercial property and casualty insurance. The Client was interested in supplementing standard insurance offerings with interactive tools that could allow customers to take a proactive role in evaluating, preventing, or overcoming the consequences of risky decisions.

Inquiry:

The Director of Innovation Strategy at the Client’s organization approached PreScouter to identify algorithms and technologies that will:

  1.     Address individuals’ risk assessment
  2.     Predict risk based on individuals’ behavior
  3.     Notify people about potential hazards
  4.     Find behavior modification platforms

Methodology:

To answer the Client’s inquiries, PreScouter assembled a team of advanced degree researchers with disciplines ranging from MBAs to PhDs in Economics as well as PhDs in quantitative scientific disciplines (chemistry & physics) to identify and down-select the Client’s four core technologies.

Based on a number of stage-gated meetings with the Client, PreScouter’s team of experts investigated each of the four proposed solution areas.

What PreScouter found:

A major goal behind this inquiry was to identify preventive measures such as limiting cash outflow, protecting savings, and alleviating financial risks for the Client’s organization. After a thorough and comprehensive study and successive meetings, PreScouter’s team of experts compiled a detailed report that addressed all of the Client’s interests.

The final report included 21 technologies and ten companies that met the Client’s constraints. The Client mentioned that all the technologies presented were on-target, of which 33% of the technologies were of high interest. The Client shared the report within his organization and determined the top three technologies for outreach, which the Client conducted internally based on findings in the PreScouter report.

Client’s feedback:

The Client was highly impressed with the precision of the results presented. The Client had an existing product, and thanks to the PreScouter report, they were able to find ways to make their existing product even better.


If you have any questions or would like to know if we can help you with your innovation challenge, please contact our Financial lead, Linda Cohen at lcohen@prescouter.com.

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