Insurtech Story Podcast

The insurtech investment landscape in Asia is witnessing exponential growth driven by a large population, rising middle class, and increasing digital adoption. Asian countries like China, India, Singapore, and Hong Kong have become insurtech investment hotspots. Venture capital firms, private equity players, and traditional insurance companies are actively investing in early stage startups focusing on innovation and disruptive technologies. Key players such as ZhongAn, PolicyBazaar, GoBear, and WeFox have emerged, offering innovative products and services across health, life, property, and casualty insurance segments. With diverse insurtech segments and technological advancements like AI and big data, Asia presents a promising market for insurtech investments. Points of discussion: 1. How would you describe the current investment trend for insurtech startups, particularly in the context of bolttech? Could you discuss how this trend has evolved over the past few years and the impact it has had on the industry as a whole?   2. Who are the current investors in bolttech? Did you employ a particular strategy to attract certain types of investors? What kind of investors is bolttech interested in attracting in the future?   3. Beyond capital, are there other qualities or resources that you seek in your investors? Could you share some examples of non-monetary value that your investors have provided. Speaker Bio: Stephan Tan, is the Group Chief Strategy and Investment Officer at bolttech. Stephan is responsible for bolttech’s corporate strategy and investments, including M&A. He is a founding executive of bolttech, member of the executive committee and secures organic and inorganic opportunities as part of bolttech’s growth strategy and business expansion. With more than 15 years in international corporate finance experience, Stephan’s previous roles include VP M&A and Strategy at FWD and Chief Financial Officer at Edirect Insure Group, overseeing several key functions including finance, legal and HR. He started his career within investment banking at Citigroup, covering financial institutions in Europe. Outside of work, Stephan is a keen linguist and he enjoys playing football, squash, and chess.

Insurance Innovation Day! an event to discover cutting-edge advancements and transformative ideas shaping the insurance industry. Explore AI, blockchain, data analytics, and emerging technologies revolutionising insurance. Connect with professionals from insurance companies, insurtech start-ups, and regulatory bodies. Gain insights from thought-provoking sessions, panel discussions, and interactive workshops. Inspire innovation in your work and network with like-minded individuals. Mark your calendar for 06th & 07th Jun 2023 happening in Vienna and also Live Streaming and stay tuned for updates on speakers and topics. Let's unlock the potential of innovation and shape the future of insurance together! To attend the event in Vienna or join the live streaming, please email us at info@insurtechstory.com or connect with Erika Krizsan at e.krizsan@insurance-factory.eu. Points of discussion: 1. Our first question to you Erika: What are some key strategies or initiatives that insurance companies are employing to promote innovation within their organisations?   2. Can you touch upon your key focus areas of the Insurance Innovation Day! 3. Our final question for today is: What are you expecting out of the Insurance Innovation Day! Speaker Bio: Erika Krizsan, is the Founder & Initiator of Insurance Innovation Day.

No-code technology is transforming the insurance industry by automating processes and enhancing customer experience. However, it also presents challenges for insurance agents who need to adapt to new technological trends to remain competitive. No-code platforms provide opportunities for agents to improve their sales processes, increase customer satisfaction, and improve business performance. To fully realize the benefits of no-code technology, insurers and technology providers must work together to provide comprehensive training, support, and resources to help agents navigate this transition. The impact of no-code technology on insurance agents is a rapidly evolving trend that is shaping the future of the industry. Points of discussion: 1. Can you explain the journey of digitalisation in insurance and where we are today with the advent of platforms like low code / no code?   2. How are low-code technologies transforming the insurance industry, and what specific benefits do they bring to insurers in terms of efficiency, speed, and customer experience?   3.  Can you share a real-life example of an insurance company that successfully implemented low-code platforms for digital transformation? What were the key benefits they derived and what was the real impact? Speaker Bio: Adrit Raha, is the Managing Director, Asia Pacific at CoverGo. He brings with him over 17 years of experience in insurance and tech startups. Most recently, he was the Co-founder and Co-CEO of another insurtech startup Symbo with a focus on embedded insurance. Prior to that, he was the  CEO of health tech startup Vivant and held various leadership roles at RSA & AIG.

The future of underwriting and the customer experience in commercial insurance is rapidly evolving with the advent of new technologies and changing customer expectations. Insurers are leveraging data analytics and artificial intelligence to improve the accuracy and efficiency of underwriting decisions, while also exploring new digital channels to enhance customer experiences. However, insurers must balance the need for more personalized experiences with appropriate levels of risk management and determine the best ways to leverage automation while maintaining human expertise. Startups and insurtech are driving innovation and disruption in the industry, making it an exciting time for the future of commercial insurance   Points of discussion:   1. In your opinion, how important is data analytics and artificial intelligence in improving the accuracy of underwriting decisions?   2. How can insurers balance the need for more personalized and efficient customer experiences with the need to maintain appropriate levels of risk management and underwriting scrutiny?   3. How can insurers strike the right balance between automation and human expertise in underwriting, particularly in complex and high-risk commercial insurance cases? Speaker Bio: Wendy Crosley, is the Global Director for Underwriting Automation and Transformation at Willis Towers Watson. Wendy is a well-known industry professional with a reputation for effectively delivering company-wide transformation, generating more efficient, targeted underwriting results. In her role, Wendy, leads digital underwriting transformation projects for global commercial lines insurance clients. She also manages the design, development, and implementation of market-leading technology propositions to underwriting companies around the world. Prior to WTW, Wendy was with Zurich North America, where she served as Underwriting Solutions Director, Operations and Technology and in this role she successfully led underwriting landscape transformation projects across the commercial and specialty insurance business units.

Misunderstood insurance policies can have a significant impact on customers. When customers don't fully understand their coverage or the terms and conditions of their policies, they may not realize what is and isn't covered. This can lead to unexpected expenses, denial of claims, or even legal disputes. In some cases, misunderstandings around insurance policies can also cause stress, frustration, and a loss of trust in the insurance company. To avoid these negative consequences, insurance companies must work to make their policies more transparent and accessible to customers. This can involve simplifying language, providing clear explanations, and offering resources for customers to seek further clarification. By doing so, insurance companies can improve the customer experience and build stronger, more trusting relationships with their policyholders.   Points of discussion: 1. Misunderstood Policies are a major problem in the industry today. How do you see this shaping both for the insurer and the policy holder?   2. How common is it for insurance policies to be misunderstood by customers, and what are some of the most frequent areas of confusion or misinterpretation?   3. In a situation where a policy is misunderstood or incorrectly sold, what should the policy holder or the insurer do? Or in other words what steps can insurers and customers take to make their journey more fruitful? Speaker Bio: Deepak Bhuvneshwari Uniyal, is the Co-founder & CEO of Insurance Samadhan. Deepak is an outstanding sales professional and his success in sales is backed by his focus on an ethical approach, need based selling, prompt service and strong grievance resolution. Deepak has over 23 years of Corporate & Entrepreneurial experience and his organization is a tech based platform for resolving insurance complaints and claims. Most importantly Deepak and his team was a successful India Shark Tank participant in 2022.

In recent years, the use of spatial data has become increasingly important for insurance companies. Spatial data, which includes geographic information about physical locations, is being used to assess risks, analyze patterns, and make more informed decisions. In this podcast interview, we will explore the ways in which spatial data is transforming the insurance industry and what it means for both insurers and policyholders.   Points of discussion:   1. What is spatial data, and how is it being used in the insurance industry? 2. How does spatial data impact risk assessment and pricing of insurance policies?   3. What are the current trends in the use of spatial data in insurance, and what can we expect in the future? Speaker Bio: Rosalie van der Maas, is the Co-founder & CEO of Ellipsis Drive. She has an academic background in Earth and Environmental Sciences, Development and Innovation. Rosalie organized her own events on Big Data & Society before founding her first company at the age of 22. She got a taste of tech entrepreneurship while living in Chicago and brought that dream to life with her Co-Founders.

Artificial Intelligence (AI) is playing an increasingly important role in connected insurance, which refers to the use of technology to collect and analyze data on policyholders in real-time. AI-powered algorithms can process large volumes of data to identify patterns, assess risk, and personalize insurance products and pricing based on individual behaviour and usage. AI-powered chatbots and virtual assistants can also improve customer service by quickly answering queries and resolving issues. Connected insurance can help insurers to mitigate risk, reduce fraud, and improve customer satisfaction, while also providing policyholders with more personalised and affordable insurance solutions. As a result, the use of AI in connected insurance is expected to continue to grow in the coming years. Points of discussion:   1. In what ways can AI help insurance companies personalise their offerings to individual customers? What kind of data can be gathered from connected devices to better understand a customer's unique needs and preferences?   2. How can AI be used to improve customer service in the insurance industry?   3. With the increasing use of connected devices and the growth of the Internet of Things (IoT), there is more data available than ever before. How can AI be used to help insurers make sense of all this data, and what kind of insights can be gleaned from analysing it? Speaker Bio: Trenholm Palmer, is the Director of Digital Insurance at Volvo Financial Services (part of Volvo Group) in the United States market. He is responsible for the operations and growth of VFS's commercial and connected insurance distribution across the heavy truck and construction equipment finance channels. Prior to VFS, he founded and ran New Light Research, which provided alternative data insights to large professional services firms with a focus on publicly traded financial institutions and re/insurance companies. He also served as an advisory resource to insurtech start-ups on formation, insurer and specialty intermediary negotiations, go-to-market strategies, and product distribution. Before this 7+ year entrepreneurial period, Trenholm spent 13 years across a variety of sales and business development leadership roles within commercial insurance brokerage and management consulting. He holds a Bachelor of Arts degree from Washington & Lee University and a Master of Business Administration degree from ISM, Paris.

Digital transformation and customer centricity are essential factors in the insurance industry's evolution, enabling companies to address the changing needs of customers and remain competitive in a rapidly evolving market. By leveraging digital platforms and technologies, insurers can offer personalised products and services, streamline operations, and improve customer experiences. This transformation has significant implications for the insurance industry's future, with companies that embrace it expected to lead the way in innovation and growth. Points of discussion:   1. How are insurers leveraging digital platform to tap new age customers and what should be insurer's strategy to build a robust digital infrastructure? 2. Cloud is the next big technology advancements in insurance. How do you see this technology helping insurers in accelerating their growth in next 2 years? 3. According to you, where do you see data playing a role in personalised customer experience? And how much accuracy matters? Speaker Bio: Rishi Mathur, is the Chief Digital and Strategy Officer at Canara HSBC Life Insurance. Rishi brings more than 25 years of rich work experience of which close to 17 years of experience within the insurance domain. He has been with Canara HSBC Life Insurance company for 9 years now where he is currently responsible for leading the company's Digital Business Unit and also oversees the Strategy function focusing on development of future growth plans for the enterprise. He has significant experience across product development, proposition design, product portfolio management, customer analytics, market assessment, performance improvement, partnership development and digital business review. He joined Canara HSBC Life Insurance from Bharti AXA Life Insurance where he was a founder member and head of products and customer management, and has previously worked with reputed management consulting firms Arthur Andersen and Stern Stewart, leading clients engagements in India and Asia-Pacific. Besides, Rishi holds a Post Graduate Diploma in Management from IIM Calcutta and a B.Tech. from IIT Delhi.

The future of insurance is set to be transformed by OpenAI, offering opportunities for improved risk assessment, fraud detection and prevention, and ethical use of AI. These technologies can help insurers make more informed decisions and improve their bottom line while providing a better customer experience. The integration of OpenAI and other AI and machine learning technologies has the potential to revolutionise the insurance industry in the coming years.   Note: **Views shared are purely of the speaker** Points of discussion: 1. Can you tell us about OpenAI's role in the insurance industry? And What are some of the main opportunities that OpenAI can offer insurers?   2. Can you throw some light on the impact of generative AI and Language models on risk assessment and pricing models in insurance?   3. What are some of the biggest challenges facing insurers who want to use AI and machine learning? Speaker Bio: Abhineet Sarkar is the Digital Innovation Leader at Tata AIA Life Insurance. Abhineet is a Bio–Fintech and Digital Innovation leader, with more than a decade experience in working across Banking, financial services and Insurance (BFSI) industry and tech consulting services. Currently he is heading Digital Innovation at Tata AIA Life Insurance. He is also an active Mentor of CII - Centre of Excellence for Innovation, Entrepreneurship and Startups (CIES) and Co-author of the AI Book. He was also featured in Fintech Times UK in 2019.

The future of genetics and insurance is a rapidly evolving field with potential for tailored policies based on genetic information, but also raises concerns about privacy, discrimination, and health disparities. Policymakers are exploring regulatory frameworks to protect against genetic discrimination and ensure ethical use of genetic data by insurers. Points of discussion: 1. With the increasing popularity of direct-to-consumer genetic testing, how do you think this will impact the future of genetics and insurance? 2. As personalized medicine becomes more prevalent; how do you see insurance policies changing to accommodate this? What are some challenges that may arise with this shift? 3. What are some potential ways that insurers can use genetic information to improve health outcomes of patients? Speaker Bio: Efi Binder, is the Co-Founder & CEO of Futura Genetics. Futura Genetics is a digital health platform powered by genomic data and developed for life insurance issuers and their clients. The company offers life insurers effective, personalized tools designed to extend their customers' life expectancies, thereby increasing retention and decreasing claims. In addition, the company provides life insurance clients with a gamified personalized experience that uses their personal DNA to motivate them to be proactive about their health. To contact Futura Genetics, you can visit their website at www.futuragenetics.com.

The future of insurance payments will be heavily influenced by technology, changing customer preferences, and regulatory frameworks. Insurers will need to adapt to trends such as digital payments, blockchain technology, AI and machine learning, pay-as-you-go models, and a focus on data security. These trends will enable insurers to improve the customer experience, reduce costs, enhance transparency, and personalize products and pricing. Points of discussion: 1. What challenges do payments pose across the insurance value chain? How is Mastercard placed to help and what approach are you taking with the industry? 2. What role does data have to play in the future of insurtech and can you throw some light on the trends you see here like for example in the case of parametric insurance? 3. Talking about parametric, who do you think will benefit from this type of insurance? What’s next for Mastercard in this space? Speaker Bio: Ruth Polyblank, who is the Vice President and Partnerships Lead for Insurance at Mastercard. Ruth has specific responsibility for identifying new opportunities in the global insurance market by leveraging Mastercard’s existing capabilities and assets to innovate through collaboration with the industry. As an insurance marketing and strategy expert, Ruth holds over 20 years’ experience and has worked with traditional and insurtech businesses to design vertical propositions and growth strategies, with particular expertise in the SME sector. Ruth previously held leadership and management roles at Chubb, CLS, EY and Fusion. As well as her professional accomplishments, Ruth is a regular speaker, author and mentor within the insurance sector, she was co-author of ‘The InsurTech book’, was named by ‘WeAreTheCity’ a Top 50 Woman in Tech 2018 and is also an Ambassador for the CII Insuring Women’s Futures programme.

Insurtech is transforming the insurance industry by using technology to create innovative solutions for underwriting, claims processing, and customer experience. However, these technological advancements also bring new risks such as cybersecurity threats and data privacy concerns. Effective risk management is crucial to mitigate these risks, ensure financial stability, and maintain customer trust. As such, insurance companies and insurtech start-ups must find a careful balance between innovation and risk mitigation to succeed in the industry. Points of discussion: 1. What are some of the biggest risks facing the insurance industry today, and how do you see insurtech helping to mitigate these risks? 2. With the rise of insurtech, how do you see risk management practices evolving in the insurance industry? What new risks are emerging, and how can they be managed effectively? 3. How do you balance the need for innovation and agility with the need for risk management in the insurtech space? What are some best practices for Insurtech's to ensure they are managing risk effectively while also pursuing innovation and growth? Speaker bio: Matthew Queen is the Chief Risk Officer at Goldner Capital Management. Goldner, a venture capital (VC) and private equity firm, is a specialist in the post-acute care market as an owner and operator of skilled nursing portfolios across the United States. It primarily focuses on buying distressed assets where the operational team presents a value-add component to the deal. In the new role, Matthew serves as CEO of Goldner’s captive, which provides general and professional liability coverage for the skilled nursing facilities, with plans for future expansion to additional lines. Before Goldner, Matthew was associated with Hiscox, and prior to Hiscox, he was general counsel at Venture Captive Management, an Atlanta-based captive manager with several wholly-owned captives in Britain and the US.

The implementation of bancassurance activity in the banking industry helps to increase customer satisfaction, the competitive environment's strength, and the creation of new insurance products. Banks' top strategic goals are to improve company protection by expanding their product offerings in response to customer demand. A potential future option that will also advance on the international market is the distribution of insurance through the bancassurance system. Bank representatives suggest that among the elements required to create this service are the diversification of insurance products sold by banks, the expansion of consumer financial education, and digitalization. Points of discussion: 1. How can bancassurance providers balance the interests of their banking and insurance customers while also maintaining profitability? 2. What are the key regulatory challenges faced by bancassurance providers, and how can they stay compliant while still offering innovative products and services? 3. In a rapidly evolving market, how can bancassurance providers stay ahead of the competition and continue to offer relevant, high-quality products and services to their customers? Speaker Bio: Sonali Verma, is the Head of Digital Bancassurance at Manulife Asia. In her current role at Manulife Financial for Asia, Sonali is responsible for creating and consolidating experience frameworks across the Bancassurance business which has a significant contribution to Manulife Asia’s business. This includes building next-in-class large insurers’ digital experience infrastructure across Asia by leveraging innovation principles, analytics and insight, and setting and driving key performance indicators.  Sonali is also responsible for a Manulife joint fund, Technology and Innovation Fund. Prior to joining Manulife, Sonali worked at Citibank Singapore for almost nine years. She launched and led a key initiative where her team embedded the ‘Client Excellence’ philosophy across Citibank Singapore. During her tenure, Citibank was ranked number one in the category in CSISG, an index compiled by the Singapore government to gauge client satisfaction scores across various industries. Sonali has over 20 years of rich experience in digital transformation and viability, organizational operations, service excellence and technology evaluation. She has worked in leadership and senior management roles with large global organizations helping them in identifying and deploying appropriate digital solutions for improving client impacting metric.

Globally, around 60% of insurance executives have either already implemented blockchain technology or intend to do so throughout their business units. The level of immutability, trust, and transparency that blockchain (distributed ledger technology) offers is unmatched. Blockchain provides an independently verifiable dataset, preventing insurers and customers from making judgements based on incorrect or missing data. Blockchain-based solutions are used in travel insurance cases to verify whether a flight was missed or cancelled by using external data sources. In light of this, insurers are free to choose how to handle refund requests. By precisely identifying the cause of a car accident—human or mechanical—blockchain can manage even more complicated scenarios. Points of discussion: 1. In today's world, it is necessary for businesses from various ecosystems to collaborate in order to offer goods and services if the world is going to expand into expanded ecosystems, which it will. With blockchain, how to do you see insurers innovating to make insurance for interesting and valuable to end users? 2. The two important factors in blockchain is trust and data, which is also true in case of insurance. Where do you see these connecting at its best to transform the ecosystem? 3. How is blockchain technology used in the insurance industry? And what are the important factors that an insurer must be wary of in building blockchain capability? Speaker Bio: Marlene Dailey is the Insurance Consulting Director, at RSM US LLP and David Mamane, is the Financial Services Senior Analyst, at RSM Canada. At RSM, Marlene Dailey leads the national claims consulting practice, specializing in digital transformations and intelligent process reengineering for insurance and reinsurance clients. Prior to RSM, Marlene has successfully led multidisciplinary teams and provided program management in delivering wide-scale, end-to-end platform transformations and digital solutions, as the client and as the consultant. Additionally, Marlene is a thought leader in the industry and a published author of key pieces in industry journals. Besides, she is also a United States Air Force veteran and volunteer at Wounded Warrior and AACE events. Our next guest, David Mamane is a key member of RSM Canada’s industry senior analysts and a partner in the firm’s consulting practice. He is well-versed in business and technology trends that shape middle market businesses in the insurance sector. As a strategic advisor to RSM’s clients, David leverages his background in actuarial science, data analytics and business strategy to provide guidance and clarity. David is regularly invited to speak at key leadership conferences on insurance strategic decision-making, capital management and leadership development. Additionally, David is an active member of actuarial committees, an industry eminent and a frequent panelist at industry conferences. His accolades include being a recent nominee for the Casualty Actuarial Society board of directors.

Insurtech companies are disrupting the traditional reinsurance industry by leveraging technology to streamline processes, reduce costs, improve transparency, and create new revenue streams. Some of the ways that Insurtechs are transforming reinsurance include: 1) Digitisation of processes, 2) Improved data analysis, 3) Increased transparency, 4) New revenue streams. Besides, the use of technology has enabled reinsurers to develop new products and services, such as telematics-based insurance, parametric insurance, and weather index insurance. These products have opened new revenue streams for reinsurers, allowing them to diversify their portfolios and reduce their exposure to losses. Points of discussion: 1. Lot have been discussed about digital innovation in the insurance value chain. Can you give us some insights on how re-insurers are tapping into the opportunity of insurance technology? 2. Utilising cutting edge products and technologies to give re-insurers new value-added capabilities, is a significant step to innovate. How you see this playing for re-insurers when it comes to building capacity to evaluate claims? 3. Moving to some specifics, how do you see cloud and on-demand infrastructure facilities helping re-insurers in terms of market accessibility? Speaker Bio: Mayank Joshi, is the Head of Digital Business at Munich Re. Mayank heads the Digital Business for Munich Re’s Non-Life reinsurance segment in India, SEA, Korea and Japan, where he leads efforts in developing products and solutions for Digital players. He is responsible for building key partnerships for Munich Re in the digital ecosystem and engage with Insurtechs to create value propositions. Mayank is also responsible for scouting opportunities in the above regions for Munich Re’s investment arm – Munich Re Ventures. Prior to this, Mayank was a part of Sales Strategy group at primary insurance company, ICICI Lombard where his role was predominantly to define market strategy for corporate business. Overall he has 12 years of experience in Insurance industry. Mayank holds a Master’s Degree in Business Administration from NMIMS Mumbai with a focus on Sales and Marketing.

Leading EV insurance providers are rapidly developing unique, EV-specific insurance plans. The additional difficulties brought on by the charging infrastructure and the numerous technical aspects of the cars serve as justification for this development. The automotive sector, which is through an unprecedented period of upheaval, is currently grappling with the most urgent problem: the rapid growth of EVs. The insurance industry must make sure it adapts to the changing motor vehicle environment. With the global popularity of EVs growing, insurers are in a race against time to accomplish this task. Without decades of data and expertise, it is challenging to comprehend and price the risk profile of these new vehicles. Points of discussion: 1. According to the India Energy Storage Alliance (IESA), the Indian EV market would grow at a CAGR of 36%. As per various data sources, with around 3.3 lakhs units sold across all categories in 2021, Uttar Pradesh had the largest percentage of EV sales, followed by Karnataka and Tamil Nadu. So, with this significant growth in EV sales, where do you see insurers fitting in here? 2. EV insurance is relatively costlier than insuring a normal fuel vehicle. Do you see this to be a challenge from the pricing point and how insurance is bought keeping in mind that India is a price sensitive market? 3. Can you explain the key points of an electric vehicle insurance policy? And what consumers should be aware of before purchasing an EV insurance policy in India? Note: **Views shared are purely of the speaker** Speaker Bio: Pranshu Diwan, is the Head of Ola Insure at Ola Group. Prior to Ola, Pranshu was the Chief Executive Officer at GoPlannr, and Head of Analytics and Data Science at Aditya Birla Health Insurance Company.

The world is experiencing the effects of climate change all around, including increased storm intensity, drought, extreme heat waves, and sea level rise. Natural catastrophes are becoming more severe and common as a result of these effects. The average number of natural catastrophes in the United States per year between 1980 and 2021 was 6 or 9, but so far in 2022, there have already been more than 12 and these losses were caused by natural disasters like wildfires and drought. Insurance firms are struggling to survive as natural catastrophes are occurring more frequently and costing more money. This has an impact on the property market as well as the overall economy. The insurance industry will need to reform if it is to survive the coming storms. Points of discussion: 1. Financial risks brought on by climate change are difficult to evaluate and price. How do you see insurers utilising alternate data sources, real-time analytics, and AI to better address climate change challenges and price such risks appropriately? 2. Do you see parametric model playing an important role in helping both insurers and its customers against climate related risks? 3. At Arbol, your team is focused on smart contracts and blockchain solutions to codify policies and help customers with a faster claims pay-out. Can you explain this in a bit detail on how you do this and what blockchain can do to address climate risk. Speaker Bio: Siddhartha Jha is the Founder, Chairman, and CEO of Arbol, a global climate risk solutions platform focused on data-driven parametric insurance. Sid is also a co-founder of dClimate, the first decentralized climate information ecosystem. Prior to Arbol and dClimate, he had over 13 years of experience in the financial industry covering the interest rates and commodities in both quantitative research and trading roles. He launched an agriculture futures trading portfolio, managing over $100 million at a major commodity trading firm, and was the first analyst at a start-up commodity hedge fund, which grew to manage over $600 million in assets. He was previously a Vice President of Interest Rates Strategy at J.P. Morgan. Besides, Siddhartha authored the well-received book "Interest Rate Markets" and has taught financial markets at NYU and was on the board of a non-profit working with inner city youth. Siddhartha graduated from Harvard University with a B.A. with distinction in Applied Mathematics and M.A. in Statistics as part of a 4-year combined degree program.

Despite economic challenges, the expanding middle class in Asia maintains its optimism, which creates substantial potential for the insurance sector. The top concerns for middleclass consumers are their health, happiness, and financial security. These clients will need more risk mitigation and protection goods and services as the region's economy prospers, which will open up significant growth potential for the insurance and reinsurance industries. In order to effectively tap into this significant insurance market sector, it is essential to understand the behaviour and tastes of the expanding Asian middle class. As these consumers start to amass wealth and begin to make preparations for their retirement and children's education, they require more insurance protection. Points of discussion: 1. The GDP proportion of emerging Asia has dramatically expanded, rising from 5% in 1990 to an expected 26% in 2022 (As per IMF). The expanding middle class in Asia is evidently optimistic despite economic challenges. Do you see this to be a prospect for the re/insurance sector in the region as they begin to accumulate wealth and make plans for future retirement? 2. Customers' preferences are forcing insurers to give digital first the priority. Consumers in the region are open to purchasing insurance from new entrants, including those from outside the sector, and this is lead primarily by the young and digitally active. What is your expectation from this? 3. How you see regulators playing a major role in benefitting the middle class and insurance sector to bring more stability on the table, which is still an underlying concern in most of the Asian nations. Speaker Bio: Roopa Malhotra, is the Head of Customer & Digital - Asia Pacific at Zurich Insurance. Before joining Zurich Group, Roopa was Head of Digital for Chubb Insurance in the Asia Pacific. Over the years in the industry, she has gained well-rounded expertise in different aspects, including Natural Catastrophe risk management, digital product development, and partnership management. Roopa started her career in India as a financial analyst with the leading hedge fund - D.E. Shaw Group, before entering the insurance industry and holding positions with AIG and MSIG. A passionate Diversity and Inclusion champion, Roopa was also recognised as one of the rising female leaders in the region by Insurance Business Asia in 2021. Roopa holds an MBA in Finance with certifications in design thinking for innovation, and she is currently pursuing a Postgraduate Certificate in Sustainable Business from the University of Cambridge. She also actively volunteers at organisations like ‘All Hands and Hearts’ for disaster relief and Singapore’s ‘Alzheimer's Disease Association’ and is a fitness enthusiast.

Emerging technologies have the potential to completely transform the insurance sector, including how insurance products are sold, underwritten, and handled, as well as how the market is governed. The possibility for new, inventive goods and business models to revolutionise the industry may be even more exciting than the advantages of digitising the distribution chain. Emerging technologies offer a fertile environment for an explosion of innovation in the insurance sector, much like the expansion of applications for the internet from the two original use cases at its inception, such as sending emails and file transfers, to the almost unlimited use cases accessible now. Points of discussion: 1. Insurers in Asia are exploring the digitisation opportunity of their value chain. The questions are however not the need of building a digitised ecosystem but how to build such ecosystem. Can you explain this from the context of Asian market and how you see this happening in Bangladesh? 2. Digital transformation in insurance value chain largely demands the need for services providers who can support with the technology stack and help building a complete go to market solution. With your expertise in the region, how do you see this happening? 3. What is insurance core system transformation? Speaker Bio: Arnab Paul, is the Co-founder of Bimafy Bangladesh.

Top executive mindsets are being changed by the rapid digitalization of our lives and the ways we work, shop, and live. Nowadays, most CEOs do not still view technology as primarily being about cost savings. Instead, they recognize that if they want to delight customers, generate value for shareholders, and outperform their rivals, digital strategy, innovation, and operations must be a core strength of their organization. But only the most knowledgeable senior leaders are aware of the business necessity when it comes to digital risk management. These leaders take advantage of the chance to transform operational requirements into competitive advantages rather than obsessing over what could go wrong. The foundation for this skill is a thorough awareness of the underlying nature of digital risk and how it can evolve. 1. Operational, cyber, and value-creation risks are the common three forms of digital risk in modern businesses. Assessing the digital risk landscape begins with understanding this. How do you see insurers navigating through these risk types? 2. Each of these risk landscapes are unique and therefore to navigate through this and understand what it takes to build resilience, what would be your advice to senior leaders in insurance? 3. What is the implication of digital risk in insurance and what according to you will be the next 5 years outlook for the industry? Speaker Bio: Arun Narayanan, is the Digital Strategy and Transformation Leader - Marsh Asia.