Tylmen Tech (GIA 2024)
Lloyd Yates, Tylmen Tech (GIA 2024)
Tylmen Tech: Advancing Change Through Data in Insurance and Agriculture
Answers provided by: Lloyd Yates, Founder | Tylmen Tech
Founders are vital to the success of an Insurtech Start-up. Can you tell us a little about your background?
My background has always been rooted in entrepreneurship, starting at the age of 17, with a particular focus on technology. A few years later, I launched a fashion company that integrated early AI technology to promote inclusivity in sizing and fit within the industry. This initiative marked the beginning of what Tylmen Tech has since evolved into: a data company specializing in computer vision and body scanning technology for both people and animals.
What motivated you to start Tylmen Tech?
In 2016, The New York Times published an article showcasing the 500 most powerful people in America. While many were politicians and successful business leaders, only 17 were Black. I am determined to change this narrative and ensure it reflects and includes people who think and look like me. Business has always been a powerful vehicle for driving change.
Who else is on your team?
My main partner, Manav, who leads engineering on our team, and I have been working together for nearly four years. I’m particularly proud of his dedication, passion, and willingness to embrace change within our organization. He leads a team of four engineers who specialize in computer vision, machine learning, and full-stack development.
How does your company intersect with the insurance industry?
Our insurance solution can help bring life insurance coverage to over 100 million Americans and reduce coverage gaps for disability and travel insurance. This would result in billions of dollars in premium for insurers.
How has your company grown/pivoted/changed since your time at the GIA?
We've discovered a major opportunity in the agricultural space. I never thought we'd be innovating and applying our technology to animals, but it makes perfect sense.
We would love to hear more about Tylmen Tech. Can you talk about Tylmen Tech’s mission? What does your company do/what problem is your company solving?
Our company’s mission is to accelerate human achievement through the power of data. Data is powerful but often misused. We aim to harness it for the greater good, improving industries like insurance and agriculture—two sectors that are vital to our everyday lives.
What approach is Tylmen Tech taking in order to solve this problem?
For insurance, we offer a turnkey solution for life, disability, and travel insurers to quickly and non-invasively obtain instant health insights on potential policyholders. This evaluation helps both parties achieve their goal: an accurate policy, delivered as efficiently and quickly as possible.
Since relocating to Des Moines in April, we’ve also been active in the agriculture sector, helping meat packers predict precise yield cuts of meat.
Can you talk about your target customers and why they are interested in your solution?
Our agriculture solution is specifically designed for meat packers, who act as the middlemen between farmers and customers like grocery stores, restaurants, or individuals. Predicting how much meat a packer can get off an animal is incredibly challenging, but our computer vision techniques make this process both efficient and accurate.
What gives Tylmen Tech a competitive advantage within the industry, or rather, what makes your company unique?
Our competitive edge comes from how we leverage data. It’s what sets us apart, helping insurers and meat packers gain insights that push their business forward.
What highlights/updates can you share about Tylmen Tech? What exciting things are happening?
At the beginning of January we conducted a proof of concept with a meat processing lab in Nebraska. It was an opportunity to demonstrate how effective computer vision technology is in the world of agriculture. Our aim was to measure and extract data from the carcass of a cow which can help meat processors become more efficient. Our proof of concept was successful!
What impact has the GIA had on your company?
But for the GIA, we would have never been introduced to agriculture. GIA has been instrumental in establishing relationships in this field.
Where do you see Tylmen Tech headed in 2025? What can we expect to see from Tylmen Tech in the upcoming year?
In 2025, we’ll continue to offer our life insurance solutions and scale our meatpacking technology, making it the 'Year of the Cow.'
What else do you want people to know about Tylmen Tech?
Tylmen is a family name!
How can the GIA community continue to support Tylmen Tech?
We're looking to expand our network of agtech investors and meatpackers specializing in beef and pork. Any introductions would be greatly appreciated.
What’s the best way for someone to contact you if they would like to learn more?
Via email at lloyd@tylmen.com
Our website at Tylmen.com
You can also find Lloyd on his LinkedIn.
