We track the rise of Alex Dalyac , whose AI-based insurtech Tractable has consolidated unicorn status after raising US $ 65M in Series E funding
Alex Dalyac is the Founder and CEO of Tractable , an insurtech that leverages AI and computer vision to help insurers assess and price the extent of damage .
When policyholders experience a car crash or property damage , Tractable ’ s technology analyses their photos and recommends decisions based on damage severity ..
The insurtech aims to empower the insurance industry , promoting a selfservice approach to claims .
Recently closing a US $ 65m Series E funding round led by SoftBank Vision Fund 2 , Tractable has consolidated a position as an AI-based unicorn exclusively serving the insurance industry .
But how has it reached such lofty heights ? We trace the journey of its inception through the lens of its Founder and CEO , Alex Dalyac .
Founding Alex Dalyac Dalyac ’ s unicorn Tractable was the first founded through the Entrepreneur First accelerator programme , which he entered after completing a degree in Econometrics from the London School of Economics ( LSE ).
Going on to excel in a conversion Master ’ s in Computer Science at Imperial College London , Dalyac encountered deep learning , a thenevolving technology that forms the basis of Tractable ’ s accident and disaster recovery platform in use today .
Dreaming of founding his own start-up , Dalyac joined Entrepreneur First to accelerate his ideas for applying deep learning technology . It was here that he met Tractable Co-founder and current Chief Technology Officer Razvan Ranca , an expert in AI and computer science .
Speaking to Entrepreneur First on his and Ranca ’ s journey to leading what is now a US $ 1bn company , Dalyac says : “ We ’ ve gotten to a place in our careers that could have taken us 20 or 30 years in just five , by simply deciding we didn ’ t want to wait .”
Tractable : the insurtech the world couldn ’ t wait for Wait Dalyac and Ranca didn ’ t , founding Tractable in 2014 to create a more frictionless claims experience that is up to 10 times faster than traditional methods .
Leveraging 30 years of combined research experience , Tractable , once fully conceived , was created by Dalyac not only with the help of Ranca but through the support of development work undertaken by a team of Oxford / Cambridge-trained researchers over five years .
Trained on millions of different data points , the AI employed by Tractable has helped fuel significant growth , and today
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