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Updated in [March 06th, 2023]
This course, Application of AI InsurTech and Real Estate Technology, provides an overview of the emerging technologies in Artificial Intelligence and Machine Learning that are utilized in InsurTech and Real Estate Tech. Professor Chris Geczy of the Wharton School has designed this course to help students navigate the complex world of insurance and real estate tech, and understand how FinTech plays a role in the future of the industry. Through study and analysis of Artificial Intelligence and Machine Learning, students will learn how InsurTech is redefining the insurance industry. They will also explore classifications of insurtech companies and the size of the InsurTech, Real Estate Tech, and AI markets. Additionally, students will explore FinTech specialties with Warren Pennington from Vanguard. Upon completion of the course, students will be able to identify emerging technologies of AI, Machine Learning, and Financial Technologies from a variety of insurance and real estate tech companies and their impact in the future of finance and investments.
[Applications]
Upon completion of this course, students can apply their knowledge of AI InsurTech and Real Estate Technology to their own businesses or organizations. They can use the knowledge gained to identify emerging technologies and their impact on the future of finance and investments. Additionally, students can use the knowledge to develop strategies for leveraging AI and Machine Learning to improve customer experience, reduce costs, and increase efficiency. Finally, students can use the knowledge to create innovative products and services that leverage AI and Machine Learning to improve customer experience and increase profitability.
[Career Paths]
Recommended Career Paths:
1. AI/Machine Learning Engineer: AI/Machine Learning Engineers are responsible for developing and deploying AI/Machine Learning models and algorithms to solve complex problems. They must have a strong understanding of mathematics, statistics, and computer science, as well as a deep knowledge of AI/Machine Learning techniques. This field is rapidly growing, with the demand for AI/Machine Learning Engineers expected to increase significantly in the coming years.
2. InsurTech Consultant: InsurTech Consultants are responsible for helping companies understand and implement new technologies in the insurance industry. They must have a strong understanding of the insurance industry, as well as a deep knowledge of the latest InsurTech trends and technologies. This field is rapidly growing, with the demand for InsurTech Consultants expected to increase significantly in the coming years.
3. Real Estate Technology Analyst: Real Estate Technology Analysts are responsible for analyzing and evaluating the latest Real Estate Technology trends and technologies. They must have a strong understanding of the real estate industry, as well as a deep knowledge of the latest Real Estate Technology trends and technologies. This field is rapidly growing, with the demand for Real Estate Technology Analysts expected to increase significantly in the coming years.
4. FinTech Specialist: FinTech Specialists are responsible for helping companies understand and implement new technologies in the financial services industry. They must have a strong understanding of the financial services industry, as well as a deep knowledge of the latest FinTech trends and technologies. This field is rapidly growing, with the demand for FinTech Specialists expected to increase significantly in the coming years.
[Education Paths]
Recommended Degree Paths:
1. Bachelor of Science in Artificial Intelligence: This degree program provides students with a comprehensive understanding of the fundamentals of AI, including machine learning, natural language processing, computer vision, and robotics. Students will learn how to develop and apply AI algorithms to solve real-world problems. This degree is becoming increasingly popular as AI technology is becoming more widely used in a variety of industries.
2. Master of Science in Machine Learning: This degree program focuses on the development of algorithms and techniques for machine learning. Students will learn how to design and implement machine learning models, as well as how to evaluate and optimize them. This degree is becoming increasingly popular as machine learning is becoming more widely used in a variety of industries.
3. Master of Science in Financial Technology: This degree program focuses on the development of financial technologies, such as blockchain, cryptocurrency, and smart contracts. Students will learn how to design and implement financial technologies, as well as how to evaluate and optimize them. This degree is becoming increasingly popular as financial technologies are becoming more widely used in a variety of industries.
4. Master of Science in Real Estate Technology: This degree program focuses on the development of real estate technologies, such as property management systems, real estate analytics, and real estate investment platforms. Students will learn how to design and implement real estate technologies, as well as how to evaluate and optimize them. This degree is becoming increasingly popular as real estate technologies are becoming more widely used in a variety of industries.
Course Syllabus
Module 1: InsurTech
In this module, you’ll identify what key emerging technologies are being leveraged by the insurance industry. You’ll gain a deeper understanding of how artificial intelligence and machine learning technologies are utilized in InsurTech. You’ll discuss the methodology behind InsurTech’s innovations in the industry, from product design to claims management. You’ll also analyze the different ways of segmenting InsurTech firms and explore examples of microinsurance and full-enabled Insurtech firms. By the end of this module, you’ll have a more clearly defined understanding of Insurtech and how emerging technologies are increasing the value of the insurance market.Module 2: Real Estate Tech
In this module, you’ll examine the fundamentals of Real Estate Technology. You’ll closely examine the background, definition, and size of the real estate tech market. You’ll gain a deeper understanding of the disruption that is happening in the real estate market through Real Estate Tech by studying examples such as Zillow and WeWork. You’ll also explore the trends and examples in residential and commercial real estate tech such as Blend, Lending Home, and Cadre. By the end of this module, you will gain a better understanding of the landscape and key financial goals of Real Estate Tech.Module 3: Artificial Intelligence
In this module, you’ll be introduced to the foundations of Artificial Intelligence and its use cases in the Financial Tech industry. You’ll begin by examining the background and market size of AI, and analyze the forecast of top use cases for AI. You’ll learn key use cases for AI in FinTech and discuss examples of AI in Robo-Advising such as Vanguard Personal Advisor Services and Machine Learning in InsurTech Companies such as IBM Watson. By the end of this module, you’ll have a richer understanding of AI, its uses and its impact in the fintech industry.Module 4: Case Studies
This module was designed to provide you with an opportunity to explore successful FinTech organizations around the world and learn how they integrated the benefits of FinTech into their organization. Warren Pennington, Principal in Vanguard’s Investment Management Group, and Andy Rachleff, Co-Founder and Executive Chairman of Wealthfront, are here to provide you with a deeper insight into their organizations. They’ll discuss applications of FinTech and the future of FinTech. By the end of this module, you’ll gain a better understanding of the practical applications of FinTech in a company.
