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Finding information in an easy way: ambeRoad creates transparency in knowledge management
Bastian, you are the co-founder of the start-up ambeRoad - what problem do you solve in the insurance industry?
With ambeRoad, we solve a problem that probably every employee knows. We help employees in the insurance industry find the right information regardless of data silos and file formats. Insurance companies often have their knowledge stored in a very decentralised way in unstructured formats. With the help of our intelligent enterprise search engine amberSearch, we help employees to find the relevant information. Originally, we focused only on text documents. Over time, however, we realised that there is much more unstructured data than just text documents. Therefore, we now search not only text documents, but also multimedia content such as images, videos, audio files or collaboration tools. According to our customers, we can save up to one hour of search time per employee per week, depending on the use case. Our goal is to give the user a user experience similar to that of internet search engines. Therefore, our user interface is strongly oriented towards that of internet search providers. With the help of various AI-based technologies, we then also manage to offer a quality comparable to that of internet search.
What are the different use cases for amberSearch?
There are different use cases. InsurLab Germany and InsurTechHub Munich have helped us a lot through their network to develop various use cases and in some cases we already put them into practice. For example, employees of industrial insurers can use amberSearch to find relevant clauses in contracts that are often decades old. Here, of course, the main focus is on topics that cannot really be mapped automatically, i.e. the more difficult special cases.
Another use case is finding reference judgements/cases in archives. Nowadays, legal insurance companies receive the court decisions of cases relevant to them in analogue form. These are then scanned and stored in an archive, where often no one actually has an overview of which judgements they have. This is exactly where amberSearch helps to find the relevant reference judgement for the respective case.
Another use case, where above all the multimedia search comes into its own, is the optimisation of the intranet search. The intranet contains guidelines, general information, but also often explanatory videos, best practices and much more valuable information, which we make easily accessible to our users. And finally, of course, there is the possibility of a global search, i.e. we offer the employee a central point to search the entire company-internal knowledge. This means that they can access all internal company information from one central point - regardless of whether it is on network drives, in teams, SharePoint or as an attachment to an e-mail in their mailbox. Of course, the whole thing is always done in consideration of access rights, but also works with multiple languages.
How exactly would you describe your development - how did it all begin and where are you now?
Compared to many other start-ups, we probably have a relatively wild history. ambeRoad originally started out selling backpacks through Amazon. Over time, however, we have developed into a pure tech start-up and no longer have anything to do with Amazon. In late summer, we completed our pre-seed investment round. In the meantime, we have carried out several pilot projects and are converting these into long-term partnerships. We are using the capital to further advance product development and to expand our sales team. Currently, we have already published a few success stories with, for example, RAG or Müller Maschinentechnik, some of our first customers. We are currently working on the publication of further InsurTech-specific success stories - you will be hearing from us in the future.
How does InsurLab Germany support you - what does your cooperation look like in concrete terms?
Being part of InsurLab Germany gives us many advantages as a start-up. Through such a network, we not only gain access to important events within the insurance industry, but we also get the opportunity to pitch our product to relevant decision-makers and thus receive feedback. This also gives us the opportunity to develop business partnerships. In addition, there is the opportunity to present ourselves to investors or simply to use the reach of Insurlab to get your idea out into the world. I can therefore only recommend to every founder who is active in the InsurTech sector to become a member of InsurLab and share their own know-how and use that of others. It simply speeds up many things enormously.