The insurance industry is a multibillion-dollar industry, yet it lags far behind other industries like banking and big tech in its adaptation of automation. I experienced this first-hand as an intern at State Farm. I completed a project that was a massive data entry job and made it into a process that took clicking three buttons to finish. Although just one example, it was clear that State Farm as well as the insurance industry in general are not utilizing automation and machine learning. The adaptation of automation and machine learning will have internal and external benefits for insurance companies like increased efficiencies in business processes and increased customer satisfaction. However, to realize these external and internal benefits, companies, like State Farm, must implement an adhocratic culture where risk taking is incentivized, and companies must invest resources into their underwriting processes, rather through internal investment or an acquisition, to automate the process.

My thesis process consists of a start-up business plan for a mobile car maintenance company. Mobile car maintenance is a very new branch of the traditional brick-and-mortar car maintenance industry. The business plan will feature key components such as an executive summary, market analysis, and pricing structure. Within the business plan, there will be an in-depth financial portion estimating expenses, revenues, the initial investment required, etc. to create a discounted cash flows chart for the first 5 years of the start-up. This financial analysis will illustrate the opportunity of this business model to potential investors as well as assist in formulating the company's capital structure.