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Corporate executives, entrepreneurs and authors discuss corporate finance strategies, growth tactics, leadership journeys and other management topics to drive value creation. 

May 14, 2024

Nishant Tomar, the Chairman & CEO at Digsfact, shares his journey from a house fire in 2017 to launching a startup using AI for property claims. His motivation to found Digsfact stemmed from a personal experience when his home was affected by a fire in 2017, leading him to identify critical pain points in the property repair and insurance claims process.

The conversation delves into Nishant's personal experiences and the triggering event that led to the creation of Digsfact. He emphasizes the time-consuming and frustrating process of dealing with property damage and insurance claims, highlighting the need for a more efficient and tech-driven solution. Nishant's innovation is a response to such challenges, aiming to streamline the estimation and repair process for property damage, thus enhancing customer experience and reducing costs for insurance carriers.

Nishant details the business model of Digsfact, emphasizing its transaction-based nature and targeting insurance carriers, restoration companies, and independent firms that employ adjusters. His aim is to accelerate the entire life cycle of claims and repairs, thus providing a better experience for the insured homeowners.

The discussion covers the use of AI and machine learning in Digsfact's products, GotSnap and PreCogs, to address property repair and financial crime prevention. Nishant also stresses the importance of customer feedback in product development and decision-making, demonstrating a customer-centric approach in his business strategy. Additionally, he navigates the challenging process of soliciting and integrating different, at times conflicting, feedback from potential investors and customers, highlighting the importance of being flexible and adaptive as a founder.   The conversation also touches on customer engagement, funding insights, go-to-market strategies, and product enhancement.

Book mentioned in the podcast

Contagious: Why Things Catch On by Jonah Burger


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