#London #United Kingdom #Markel #Halo AI #Equine Insurance

Halo AI and Markel Launch Innovative Equine Insurance

In a groundbreaking development that promises to revolutionize the equine insurance sector, Halo AI has launched what is being hailed as the world's first AI-powered equine performance predictor and insurance platform. Partnering with the esteemed reinsurer Markel and the global reinsurance broker Guy Carpenter, Halo is poised to transform how risks are evaluated and insured within the bloodstock industry.

A New Era of Equine Insurance

Traditional insurance products often struggle to adapt to the dynamic and sometimes unpredictable nature of equine racing. Recognizing this gap, Halo AI developed a modern platform that integrates real-time predictive analytics with tailored insurance solutions. By aligning insurance offerings with actual industry practices—such as the unique challenges faced on race day—Halo aims to provide coverage that is both timely and relevant.

What’s New?

Halo introduces several innovative products designed with the needs of owners, syndicates, and buyers in mind. Notable among these are:

• - Race-Day Cover: This policy insures a horse from the moment it leaves its stable until it returns after competing. It’s designed for the fleeting nature of a race, covering the animal even from the parade ring to the finish line.
• - Fall of Hammer Cover: This insurance kicks in immediately upon the purchase of a yearling at auctions, ensuring protection until the horse reaches its new home., highlighting Halo's focus on event-based, micro-duration insurance.

Powered by Hailey, the AI Agent

At the core of Halo's platform is Hailey, an advanced AI agent equipped with the capability to offer profoundly insightful recommendations. Hailey operates on data-driven insights rather than instinct, positioning itself as the ultimate bloodstock advisor. Users can expect highly qualified guidance on sales recommendations, breeding pairings, and strategic decisions related to racing, creating an unparalleled advantage for owners in the equine industry.

The Global Market Context

The equine insurance market stands at an impressive £450-475 million in 2023, with projections indicating growth to a staggering £1.3-1.5 billion by 2031-33. This surge can be attributed to the growing digital transformation within the insurance sector—a shift Halo AI is ready to lead with its innovative approach.

Neil Sands, Founder of Halo, expressed enthusiasm for the platform, stating, “This is about reinventing equine insurance and ownership for the modern era… Halo delivers immediate, intelligent cover—and Hailey ensures that those decisions are guided by the best data available.”

A Commitment to Innovation

Markel's Divisional Managing Director for Equine Livestock, Juliet Redfern, echoed the excitement surrounding this initiative, highlighting the potential for AI to redefine horse valuation and insurance protection. She stated, “We are delighted to be supporting Halo as it brings a new dimension of transparency and innovation to the market.”

Halo AI is not stopping at equine insurance; they are also eyeing expansions into predictive AI applications in aviation and marine sectors, signaling further collaboration announcements on the horizon.

With its impending launch in the UK and Ireland this autumn and plans to reach Europe, APAC, and North America by 2026, Halo AI is set to lead a transformative path forward for equine insurance.

Conclusion

Halo’s introduction of cutting-edge technologies and flexible insurance products marks a significant advancement in the equine industry. With its innovative solutions, Halo AI and Markel are positioned to reshape the insurance landscape, ensuring thoroughbreds are protected with precision and efficiency, tailored explicitly for the demands of modern equestrian sports.