Insurance Is More Backward Than Construction! Dragging Construction Insurance To 2024 - Phillip Callow
In today’s episode, we have Philip Callow, Founder of construction insurance platform Rosetta Risk Management Ltd.
In this episode, we learn about the surprising math behind construction insurance premiums, how large projects can be insured for surprisingly low costs and much more!
Tune in to find out about:
The $440 million UK construction insurance market and how premium rates are set
Why the adversarial nature of construction makes insurance so difficult
How the Grenfell Tower tragedy changed how underwriters view risk
The future of using telematics and AI to provide dynamic risk pricing
----------------------------------------
Philip Callow | Founder at Rosetta Risk Management Ltd
—-------------------------------------
This episode is brought to you by Shft—helping contractors like you leverage BIM to secure a leading position in the race towards construction’s digital future.
Visit: https://maketheshft.digital
Timestamps:
(00:00:00-00:02:38) Intro
(00:02:38-00:09:40) Insurance in context of Construction
(00:09:40-00:11:45) Premium Cost of Insurance In Construction
(00:11:45-00:27:10) Does the insurer always wins?
(00:27:10-00:34:30) Role of data for risk calculation
(00:34:30-00:39:20) Real-time data for insurance
(00:39:20-00:42:22) Lessons Philip learned from Corporate World
(00:42:22-00:43:22) Outro
read more
Bricks & Bytes
25 Startups And $500 Million Funding | From Marine Biology To Investment Megalodon
In this episode, we sit down with Parker Mundt, Vice President of Suffolk Technologies. His story is as unique as it is fascinating. Join us as we discover how Parker’s unique background is shaping the future of the construction industry with groundbreaking solutions – and empowering startups.
Listen as Parker shares insider insights on the most promising areas for technological disruption, the key factors driving the adoption of new solutions, and what it takes to build a successful construction tech startup.
Find out:
The best Go-To-Market strategies on construction tech right now
The critical role of seamless implementation and demonstrable ROI
Emerging opportunities in design tech, supply chain, robotics, and more
Strategies for founders to validate ideas, raise funds, and build investable companies
And much more.
-------------------------
Stay ahead. Get all the news and insider exclusives delivered straight to your inbox.
Sign up for our newsletter The Bytes Line at: https://bricks-bytes.com
LinkedIn: https://www.linkedin.com/company/bricks-bytes/
X/Twitter: https://twitter.com/bricksbytespod
Youtube: https://www.youtube.com/channel/UCmNbunUTIIQDzbJgGJt9_Zg
Instagram: https://www.instagram.com/bricksbytes/
—---------------------------
This episode is brought to you by Shft—helping contractors like you leverage BIM to secure a leading position in the race towards construction’s digital future.
Visit: https://maketheshft.digital
—----------------------------------
BuildVision is a procurement network for the $5T commercial construction market. We are transforming the commercial construction supply chain by bringing contractors, manufacturers, and project stakeholders onto a single software platform—revolutionizing how every component is sourced, purchased, and financed.
---------------------------------
Timestamps:
(00:00 - 02:32) - Intro to Parker & Our Sponsors
(02:32 - 07:13) - Parker's Journey
(07:14 - 18:19) - About Boost - Built World Accelerator Program
(18:20 - 32:41) - About Suffolk Tech
(32:42 - 39:57) - Capabilities of LLMs and AI
(39:58 - 42:17) - Unicorns Creation in Design Space
(42:18 - 47:07) - Growth Strategies for Construction Tech Startups
(47:08 - 54:36) - Strategy For Go-To-Market and Sales
(54:37 - 01:03:45) - How To Build Better Investable Startup
(01:03:45 - 01:04:47) - Outro
read more
Bricks & Bytes
Will AI Replace Construction Managers? - Amir Berman, Go-To-Market Strategist At Buildots
In this episode, Amir Berman of Builddots challenges the status quo in construction technology. We explore how AI and data are silently revolutionizing the industry, despite widespread skepticism.
Berman shares lessons from his failed startup, proposing controversial new models for ROI and product management in construction tech. We delve into the clash between digital solutions and physical realities, and uncover strategies to bridge this divide.
Berman's insights on Performance Driven Construction Management hint at a future where data, not intuition, drives decisions.
As AI begins to automate traditionally human-centric processes, we confront the implications for the workforce and the industry's future. Prepare to have your assumptions challenged.
Tune in to find out about:
✅ Why old ways of tracking progress might be costing you money
✅ The hard truth about getting value from construction tech
✅ How AI spots delays before humans can
✅ Why your project data might be useless without the right tools
---------------------------------
Sign up to the #1 Newsletter In Construction Tech. Join over 1,000 like-minded Founders, Investors and Techies disrupting the way we build. Forever : https://bricks-bytes.beehiiv.com/subscribe
LinkedIn: https://www.linkedin.com/company/bricks-bytes/
X/Twitter: https://twitter.com/bricksbytespod
Youtube: https://www.youtube.com/channel/UCmNbunUTIIQDzbJgGJt9_Zg
Instagram: https://www.instagram.com/bricksbytes/
---------------------------------
00:00 - Intro
02:12 - Lessons From Starting & Failing A Startup
08:15 - Innovation Happening In London In Construction
10:42 - Measuring ROI in Construction
12:45 - Product Management in Construction vs Other Industries
15:31 - BuildDots: Progress Tracking and Data Modeling for Construction
36:30 - Capturing and Utilizing Performance Data
38:08 - Creating Data Standards for 4D
38:37 - The Power of Productivity Data
41:42 - Innovation and Continuous Improvement
48:35 - Showcasing Value through Case Studies
51:51 - Go-to-Market Strategies in Construction Tech
56:15 - The Challenge of Creating a Clear ROI Formula
59:33 - The New Layer Strategy: Performance-Driven Construction Management
01:06:42 - Charging Based on Construction Volume
read more
Bricks & Bytes
Reshaping Construction Risk Management With AI - Provision
"We're not trying to replace expert opinion about what is a risk. We're trying to make sure you're aware of everything that could go wrong."
In today's episode of Bricks & Bytes, we had Luigi and Brendan from Provision AI. We learned about their journey in creating a risk identification tool for construction projects, the challenges they faced, and how they're revolutionizing project risk management.
Tune in to find out about:
✅ How Provision AI helps contractors identify and manage project risks
✅ The evolution of their product from initial concept to current iteration
✅ Their approach to achieving product-market fit in different segments
✅ The importance of partnerships in growing awareness and improving their product
Listen now on Spotify to hear how Provision AI is changing the game in construction risk management!
Cintoo's $37M Series B, Reality Capture Market Growth, Partech's Investment Strategy - How Cintoo Is Revolutionizing Reality Capture in Construction
Is the construction tech market becoming more obvious? Are we on the cusp of a tech IPO boom?
In today's episode of Bricks, Bucks and Bytes, we got to learn about Cintoo's $37 million Series B funding round led by Partech, signaling growing interest in reality capture and data compression for construction sites.
We also explored the potential for a surge in tech IPOs in 2025, as evidenced by Thrive Capital's rumored $1 billion investment in Databricks at a $55 billion valuation.
Additionally, we discussed the evolving landscape of construction tech investing, where specialist knowledge becomes less critical as companies mature and become more "obvious" to generalist investors.
Tune in to find out about:
✅ The growing market for reality capture in construction
✅ How to interpret large late-stage funding rounds
✅ The potential for a tech IPO boom in 2025
✅ The changing dynamics of specialist vs. generalist investors in construction tech
Listen to the full episode on Spotify to dive deeper into these insights and more.
read more
Bricks, Buck$ And Bytes
Human Touch in Construction Sales, False Tech Solutions, and Large Company Lawsuits - Bricks, Bucks & Bytes
"Try to keep all your human touch points and automate them on the backend."
In today's episode of Bricks, Bucks and Bytes, we dive into the world of B2B marketplaces in construction. We explore why human touch points are crucial for success, especially in an industry built on trust and relationships.
We also discuss the recent lawsuit between Oracle and Procore, where Oracle accuses a former employee of stealing trade secrets related to payment management software.
Plus, we explored HomeBoost, a startup offering simplified energy assessments for homes using AI. But is it too good to be true?
Tune in to find out about:
✅ The pros and cons of AI-powered home energy assessments
✅ The potential impact of the Oracle vs. Procore lawsuit on the construction tech industry
✅ Why B2B marketplaces in construction need to maintain human interactions
✅ The increasing trend of investors suing portfolio companies in recent years
Ready to dive deeper? Listen to the full episode on Spotify and join the conversation!
------------
Sign up to the #1 Newsletter In Construction Tech. Join over 1,000 like-minded Founders, Investors and Techies disrupting the way we build. Forever : https://bricks-bytes.beehiiv.com/subscribe
-------------
LinkedIn: https://www.linkedin.com/company/bricks-bytes/
X/Twitter: https://twitter.com/bricksbytespod
Youtube: https://www.youtube.com/channel/UCmNbunUTIIQDzbJgGJt9_Zg
Instagram: https://www.instagram.com/bricksbytes/
read more
Bricks, Buck$ And Bytes
5 Things Founders Control During Fundraising That Most Don't Know About - Bricks, Bucks and Bytes
"VC is rocket fuel. Do not spend it on a Fiat 500. Only put very expensive rocket fuel if you're actually building a rocket."
In today's episode of Bricks, Bucks and Bytes, we got to learn about Speckle's recent Series A raise, showcasing the renewed liquidity in early-stage funding for 2024.
We also discovered that the construction tech sector saw impressive growth in seed stage funding sizes during Q3 2023, signaling a positive shift in the market.
Plus, we gained invaluable insights from Patrick Hellermann on what really makes VCs tick when it comes to investing in startups.
Tune in to find out about:
✅ The magic "100x potential" that VCs are looking for
✅ Why information asymmetry is your secret weapon between fundraising rounds
✅ How to leverage social validation to your advantage
✅ The power of building a rockstar team to secure funding
Listen to the full episode on Spotify and arm yourself with the knowledge to make your next pitch irresistible!
Sign up to the #1 Newsletter In Construction Tech. Join over 1,000 like-minded Founders, Investors and Techies disrupting the way we build. Forever : https://bricks-bytes.beehiiv.com/subscribe
LinkedIn: https://www.linkedin.com/company/bricks-bytes/
X/Twitter: https://twitter.com/bricksbytespod
Youtube: https://www.youtube.com/channel/UCmNbunUTIIQDzbJgGJt9_Zg
Instagram: https://www.instagram.com/bricksbytes/
read more
Bricks, Buck$ And Bytes
Speckle's $12.5M Funding - How Open Source Software Is Changing Construction Design
Speckle's $12.5M Series A: A Game-Changer for AEC Data Infrastructure
In today's episode of Bricks, Bucks and Bytes, we got to learn about Speckle's impressive $12.5 million Series A funding round, led by Addition, to build the first data hub for the AEC industry.
We also learned about Rexel's rejection of an unsolicited $8.5 billion takeover bid from QXO, signaling potential shifts in the building materials distribution landscape.
Additionally, we gained insights into Patrick Hellermann's framework for evaluating potential investors, emphasizing the importance of avoiding detrimental influences over perceived value-add.
Tune in to find out about:
✅ Speckle's open-source approach to AEC data infrastructure
✅ The potential impact of QXO's ambitious plans on the building materials distribution sector
✅ Key considerations for startups when evaluating corporate investors
✅ The importance of prioritizing non-interference and quality input from investors
Listen to the full episode on Spotify to dive deeper into these fascinating topics in construction tech and venture capital.