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RACEHORSE owner Neil Sands of Bronsan Racing has launched an online equine insurance service.
Working with broker Guy Carpenter and underwriters Markel, Sands has released app named Halo which offers users a micro-coverage model that allows policies to be limited to specific situations such as raceday or sales-day events, instead of a year long policy.
The technology is built around an advanced ChatGPT agent named Hailey, which has access to the race records and performance metrics of over 700,000 horses worldwide. The US Jockey Club has also recently announced a partnership with Halo, which includes receiving large amounts data from GPS sensors worn on the saddle of horses as they race.
Halo originated from Sands’s broader AI risk-prediction work, which traditionally focused on aviation, and maritime analysis. While developing technology for those industries, he noticed that horse insurance had seen virtually no technological advancement in more than a century. This led him to explore how predictive tools could improve how horses are insured.
Sands noted that his own experience as an owner of over dozens of horses in training highlighted the limitations of traditional insurance, particularly the inability of standard annual policies to adapt to rapid changes in a horse’s value, for example, when a horse suddenly increases in worth after a major race win.
The Halo service addresses this by breaking coverage into specific time-bound or risk-sensitive categories. One option is the familiar annual policy, while another covers a horse only from its arrival in the parade ring until it finishes its race. A third type focuses on the vulnerable period immediately after an auction purchase, a time when issues frequently arise before the horse reaches its new home.
SHARING OPTIONS: