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
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Philip Callow | Founder at Rosetta Risk Management Ltd
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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
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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.
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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
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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.
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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
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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
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X/Twitter: https://twitter.com/bricksbytespod
Youtube: https://www.youtube.com/channel/UCmNbunUTIIQDzbJgGJt9_Zg
Instagram: https://www.instagram.com/bricksbytes/
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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!
Why 70% Of Investors Have A Negative Impact On Your Startup And The Future Of Energy Assessments - Bricks, Bucks & Bytes
Is remote sales killing your construction tech startup? One founder learned it the hard way. By listening to an investor who had no idea.
In this episode of Bricks, Bucks and Bytes, we got to learn about Kelvin, a French startup using AI for home energy audits, which just raised 4.7 million euros.
We explored Turner & Townsend's latest construction cost survey, revealing cooling inflation across the sector.
Also, we delved into Vinod Khosla's controversial take that 90% of VCs add no value, with Patrick offering his candid perspective.
Tune in to find out about:
✅ Why Kelvin's remote energy assessment model may face challenges
✅ How construction labor shortages are reaching critical levels worldwide
✅ The dangers of taking advice from investors unfamiliar with construction
✅ Why construction cost inflation varies dramatically by region
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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
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Company Mentioned:
Kelvin
Turner and Townsend
Enter
Enpal
Schneider Electric
Mac Markler
Kosla Ventures
Modulus
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Timestamps:
00:00 Introduction and Podcast Name
02:17 Kelvin: Using Technology for Energy Efficiency Audits
03:21 Construction Costs and Inflation
09:19 Challenges of Remote Data Assessment in Construction
35:15 The Dishonesty in the Investment World
49:00 The Lack of Exits in Construction Tech
53:27 Finding Value in Investors
55:43 Insights from Ex-Employees of Construction Tech Companies