​Simulytic

Cohort: Cohort 10, 2023 

Focus in insurance value chain/workflow: Point of Underwriting  

Specific lines of business supported: Speciality  

Founded: 2021 

Status: Operating, still in insurance 

Company type: Data Models 

Head office: Germany 

Main global offices: Germany 

Locations served: Global 

Employee count: 11-100 

Simulytic, a Siemens AG venture, uses simulation to understand the risk exposure of autonomous vehicles (AVs) in deployment. Simulytic creates a digital replica of an AV's environment and simulates how vehicles would behave in specific conditions and interact with road users. The output data can be used to model the risk of collisions. 

Primary way aimed to improve insurance processes and tools whilst in the Accelerator: New sources of Risk Insight - Data or Models.  

During the programme, Simulytic made huge progress towards the development of their insurance product, completing around 75% of it during the 10 weeks, with the advice and expertise of the Lab team and mentors. This has enabled them to secure their first repeat customer and signed contract that will develop the product.