Sotera Risk Rating

This demo shows how Sotera’s algorithm understands the risk characteristics and simulates insurance losses for each item within a portfolio of items, and across multiple heads of damage including fire, theft, accidental damage, and flooding.

This technique calculates the full probability density function of the insured's modelled insurance losses across all key objects within a portfolio rather than relying only on expected claims (lumping all the items together as a single collection, then averaging the risk).

We can apply this to any insurance sector that insures collections of items. This demo focusses on home contents and fine art & specie insurance.

The demo also shows how we onboard customers for home contents insurance in a way that gathers better data from which we can use our system to price their risk more accurately, and how we use Computer Vision to support this.

How it Works

In the basic version, click on any mix of items and you will see a premium (price) based on the specific risk of each item within that collection. You can also adjust for different risk factors.

In the advanced version, you can change the price of objects and the floor they're situated on, as well as the other risk factors and modes of risk mitigation.

Below the premium you can examine how this price is calculated on a per risk basis.

In the Mobius Demo you can upload an image of room to see how we use computer vision to identify a room and the objects in it. This is a basic functionality, but in our products we will use more sophisticated systems to identify specific objects. Using Computer Vision speeds up the client onboarding process so we can gather more information without creating more work for them. It also reduces fraud risk, and creates better visual records to support claims.

In the Sotera App you can view the beta of the app we will use to onboard customers.

About Sotera

Sotera was launched at Cambridge University and scaled at Lloyds Lab. Our investors include Accel, Tokio Marine Futures Fund, and Ninety. This prototype was developed with extensive support from the insurance industry.