InsurTech Spotlight: Plasmatic

Plasmatic Technologies Inc.

Company: Plasmatic Technologies Inc.

Website: www.plasmatic.ai

Business Category: A technology provider of InsurTech tools to insurance practitioners

Maturity Status: Startup (less than 3 years since product went into production)

Product or Service: Alana, Smart Home Telematics

Area: Property & Casualty insurance

Business description:

Plasmatic Technologies extracts value from streaming Smart Home data by leveraging the growing adoption of Connected Home devices in the presence of insurance industry needs for homeowner data insights and stronger customer engagement.

What makes us an InsurTech:

Alana, the company’s data harmonization platform, dashboard and brandable customer facing mobile app provide the ability for households and insurance providers to gain home insights in unprecedented ways – through the consolidation of data from multiple sources and the application of Personalized Machine Learning.

P&C insurance providers receive Smart Home Telematics data and risk scores to better understand their customers and risks, improve their programs and differentiate themselves in a market that is under intensifying competitive pressure and elevated customer expectations for value and fairer rates.

Policyholders gain whole-home actionable advice and control to improve comfort, safety, home upkeep, energy efficiency and more while using the devices they already own.

Major features & technology used:

The platform leverages a modern design and highly scalable and reliable “serverless” cloud infrastructure and services (based on AWS Lamda and other capabilities) to ingest voluminous streaming connected device data, harmonize it with a myriad of other data sources in a common data model, and extract valuable insights using Machine Learning.

Insights including contextual feedback and advice are delivered to policyholders through a dynamic and highly personalized mobile experience (both Apple iOS and Android) that is completely skinnable to meet the insurance providers branding and style.

Web-based program management system provides insurance provider users across departments with program visibility and ability to deliver highly personalized and segmented messaging to support omni-channel initiatives, meet customer engagement goals, and reduce claim frequency and severity.

All Mobile App and Dashboard capabilities can be integrated into existing IT and app assets thanks to the highly modular app architecture and versatile code base.

About Plasmatic

Plasmatic is a growing technology startup tackling the opportunity to extract highly valuable data emanating from a myriad of connected devices that are being increasingly adopted in the home. Our diverse, multi-generational and motivated team is based in Vancouver BC, Canada. Please visit www.plasmatic.ai for more information and to sign up for updates.

Source: Plasmatic Technologies, Inc.