Market Overview

Allai Applies The Netflix Model To Insurance

Allai Applies The Netflix Model To Insurance

The Benzinga Global Fintech Awards are a yearly showcase of the best and brightest in fintech. In preparation for its biggest installment yet in May 2018, we're profiling the companies competing for the BZ Awards.

Our next feature is on Allai.

Describe your company

Carlos Benfeito, founder: What do you get when you mix the Apple Inc (NASDAQ: AAPL) App Store with Netflix, Inc. (NASDAQ: NFLX) and Lemonade Insurance ? You get allai, Canada’s insurance AI app store, where Canada’s insurance brokers, carriers and insurtechs can select, download and deploy ready to use AI capabilities for the Canadian insurance industry.

We help the Canadian insurance industry make their own lemonade.

What unique problem does it solve?

Insurance Friction: Our ready to use computer vision and natural language AI capabilities tackle the entire digital policy lifecycle from purchasing to renewal including claims.

AI Friction: Our AI product approach removes the data and IP AI barriers. None of the brokers, carriers or insurtechs customer or insurance data ever leaves their ownership or control.

Organic customer data growth: Our AI capabilities empower insurance service providers to grow their core insurance data IP and helps them acquire new data points about their customers that are beyond the traditional insurance core data set.

Who are your customers?

  • Insurance Brokers
  • Insurance Carriers
  • Insurtechs

How long have you been in business?

Less than one year.

Where are you located?

In the Maple Valley in one of the hottest locations of the AI Industry today Montreal, Quebec, Canada.

Who is your company's leadership?

Carlos Benfeito, founder.

What kind of experience do they have?

17+ year career in insurtech for Canada’s largest insurance companies leading multi-million dollar initiatives, multi-disciplinary teams and enterprise wide strategies in various domains including AI Engineering, Technology R&D, Architecture, Software Engineering, Mobile tech, across all P&C insurance domains. Successfully created,  deployed and operationalized AI products in the Canadian insurance industry.

Is there anything else Benzinga should know about your company?

Take a Pic and get an instant quote, yep, we have an aim for that.

Our tech:

Additional press: Insurance Business Magazine Canada

To check out companies like Allai for yourself, grab a ticket to the Benzinga Global Fintech Awards May 15-16 in New York.


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