Insurtech Story Podcast

Insurtech Story

A podcast for all insurtech lovers. Short and crisp talks on what's going on in the insurtech market and how it will shape our future. read less
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Episodes

Redefining Insurance: Driving Preventive Health & Wellness
07-02-2025
Redefining Insurance: Driving Preventive Health & Wellness
The role of insurance is evolving beyond risk coverage to proactive health management. Insurers are increasingly integrating wellness programs, wearable tech, and data-driven insights to encourage preventive care. By collaborating with corporates, healthcare providers, and government initiatives, they aim to reduce long-term healthcare costs and improve overall well-being. With recent policy focus on preventive healthcare, insurers have a unique opportunity to drive meaningful change through innovative partnerships and incentives. This shift not only benefits individuals and employers but also aligns with broader national health objectives. Points of discussion: 1.How are insurers evolving from traditional risk coverage providers to proactive health partners? 2.What collaborative efforts between insurers, corporates, and wellness providers are driving better health outcomes and reducing long-term healthcare costs? 3.How is India as a country gearing up for the next step in making a healthier society specially keeping in mind the recent budget and the many regulatory changes that are being introduced? Speaker Bio: Rohit Chohan is a visionary leader and the Co-Founder & CEO of Truworth Wellness. As a prominent figure in the wellness industry, Rohit is known for his strategic vision, innovative thinking, and commitment to delivering exceptional value to clients. He has a proven track record of helping companies enhance their employee well-being programs and achieve tangible results.
Navigating Innovation, Technology, and Consumer Expectations in Indian Insurance
24-01-2025
Navigating Innovation, Technology, and Consumer Expectations in Indian Insurance
The Indian insurance sector is undergoing a significant transformation as technology, evolving consumer expectations, and regulatory shifts reshape the landscape in 2025. Insurers are leveraging AI, IoT, and blockchain to enhance customer experiences, improve risk management, and streamline operations while addressing the challenges of price sensitivity and cybersecurity. With rising digital adoption across urban and rural areas, there is a growing focus on expanding insurance penetration through innovative, tailored products. Additionally, sustainability is gaining traction as insurers integrate ESG principles into underwriting, investments, and operations, paving the way for a more inclusive and resilient future. Points of discussion: 1. How are emerging technologies like AI shaping the future of insurance in India, and what role will they play in enhancing customer experience in 2025 and beyond? 2. With evolving regulatory frameworks and increasing digital adoption, how are Indian insurance companies adapting their business models to cater to new consumer expectations and remain competitive in 2025? 3. What are the top five trends currently shaping the Indian insurance and technology landscape in 2025 and how are they influencing the industry’s growth and innovation? Speaker Bio: Rohit Sadhu, is the Co-Founder & COO of Ensuredit. Rohit brings over 14 years of global experience in management and technology consulting for financial institutions. Specializing in banking, capital markets, and emerging technologies, he has led strategic initiatives, business transformations, and large-scale technology projects across the US, UK, Hong Kong, and China. An expert in regulatory strategies, process automation, and operational redesign, Rohit continues to drive innovation and efficiency in capital markets and insurtech.
Predictive Analytics in Insurance: An Actuarial Perspective on AI Tools
26-12-2024
Predictive Analytics in Insurance: An Actuarial Perspective on AI Tools
Predictive analytics has revolutionized the insurance industry, enabling actuaries to leverage vast amounts of data for more accurate risk assessment and decision-making. With AI-powered tools, actuaries can enhance traditional statistical models to process real-time data, predict future trends, and create personalized insurance solutions. These advancements not only improve pricing strategies and underwriting efficiency but also help in fraud detection and claims management. However, challenges remain in ensuring data quality, model interpretability, and regulatory compliance. As AI continues to shape the industry, actuaries must adapt by embracing new technologies and acquiring cross- functional skills to remain pivotal in this transformation. Points of discussion: 1.How has AI-driven predictive analytics enhanced traditional actuarial methods for risk assessment and pricing in insurance? 2.What challenges do actuaries face when integrating AI tools into predictive models, particularly in terms of data quality, interpretability, and regulatory compliance? 3.How do you see the collaboration between actuaries and data scientists evolving as AI continues to transform predictive analytics in the insurance sector? Speaker Bio: Akshay Dhand is currently working as the Appointed Actuary for Canara HSBC Life in India. He has over 21 years of total work experience across various countries and companies. Before joining Canara HSBC Life, Akshay worked with Deloitte LLP and HSBC Life in the UK. He has extensive expertise in all areas of actuarial work such as valuation, product development and pricing, business planning, experience analysis, risk management, capital management, modelling, reinsurance and ALM. He is also experienced in putting together and managing large teams across multiple work streams as well as cross-functional projects. He holds a Masters in Actuarial Science with Distinction from City, University of London and Bachelors in Mathematics from St Stephen's College, University of Delhi. He is a Fellow of the Institute & Faculty of Actuaries (UK), a Fellow of the Institute of Actuaries of India and a Fellow of the Insurance Institute of India. He is also a Council Member of the Institute and Faculty of Actuaries (UK) as well as a Member of the Expert Committee on the School of Actuarial Science constituted by Institute of Insurance & Risk Management.
Embedded insurance and MFI's for financial inclusion
18-11-2024
Embedded insurance and MFI's for financial inclusion
Embedded insurance is transforming the microfinance sector by integrating coverage directly within financial products, making insurance more accessible to underserved populations. This model streamlines the process, allowing microfinance institutions (MFIs) to offer protection against risks such as health issues, crop failure, or unforeseen events, bolstering clients' financial stability. The seamless inclusion of insurance fosters trust, supports client retention, and promotes financial resilience. However, challenges such as awareness, technology adoption, and distribution remain. Successful implementation requires innovative partnerships, education, and tailored products that align with clients' needs. Embedded insurance, thus, holds potential as a powerful tool for advancing financial inclusion globally. Points of discussion: 1.How do you see the role of embedded insurance evolving within the microfinance sector, and what potential does it hold for enhancing financial inclusion for underserved communities? 2.What challenges do microfinance institutions face when integrating embedded insurance solutions, and how can they be effectively addressed to ensure seamless implementation and maximum impact? 3.Can you share successful case studies or examples where embedded insurance has significantly improved financial resilience for MFI clients? Speaker Bio: Amit Boni, who is the Co-founder & CEO of Ensuredit. Amit brings leadership experience in technology, credited with turning around Motorola India’s position in the Indian market by revitalizing the brand and gaining market share within 2 years, with innovative and disruptive strategies. Subsequently, at Smartron as Vice President for Sales and Marketing, Amit significantly scaled the tech businesses. He is uniquely positioned to lead Ensuredit's mission of transforming the global insurance ecosystem through deep technology-driven solutions.
Embedded Microinsurance: Revolutionizing Financial Protection
23-10-2024
Embedded Microinsurance: Revolutionizing Financial Protection
Embedded microinsurance is reshaping the insurance landscape by seamlessly integrating coverage into everyday products and services, making protection accessible to underserved populations. This episode explores how embedded microinsurance models are empowering consumers, particularly in emerging markets, by providing affordable, on-demand insurance solutions. We delve into the role of technology - AI, IoT, and blockchain - in enabling this shift, examine real-world examples of successful implementations, and discuss the potential for scaling. Tune in to discover how embedded microinsurance is driving financial inclusion and what the future holds for this transformative approach in the insurance industry. Points of discussion: 1. How is embedded microinsurance transforming the way underserved populations access financial protection, and what are the key advantages of integrating it into everyday products and services? 2. What role do emerging technologies like AI and blockchain play in scaling embedded microinsurance solutions, and how do they contribute to improving customer experience and risk management? 3. Could you share some real-world examples where embedded microinsurance has been successfully implemented, and what lessons can we learn from these use cases for broader adoption in different markets? Speaker Bio: Harry Croydon is the co-founder and COO of MIC Global, a company designed to transform the insurance industry by integrating micro-insurance products into various digital and traditional platforms. MIC aims to close global protection gaps by offering affordable, accessible insurance solutions for people and small businesses, especially in the gig and sharing economies. With a career rooted in technology and insurance, Harry worked at Microsoft in the 90s and later started a Lloyd's broker focused on cyber insurance. Following the 2008 financial crisis, he recognized the growing need for flexible, on-demand insurance for the gig economy, leading him to launch MIC Global. Today, MIC leverages AI and automation to deliver high-volume, efficient insurance solutions.
Navigating Parametric Insurance in New Zealand and the Pacific
22-10-2024
Navigating Parametric Insurance in New Zealand and the Pacific
Parametric insurance is gaining momentum in New Zealand and the Pacific as a crucial tool for managing risks associated with natural disasters such as cyclones, earthquakes, and flooding. Unlike traditional insurance, parametric policies trigger pre-defined pay-outs based on specific data, such as wind speeds or earthquake magnitudes, offering quicker and more efficient financial relief. This model is especially beneficial for regions with high exposure to catastrophic events. As climate change intensifies, parametric insurance is expected to evolve, leveraging advanced technology and data analytics to better serve the region's unique risk landscape. Points of discussion: 1. How has parametric insurance gained traction in New Zealand, and what key factors have driven its adoption in these regions, especially given their vulnerability to natural disasters? 2. What are the primary challenges for insurers and policyholders when it comes to parametric insurance in New Zealand? 3. Looking ahead, how do you see parametric insurance evolving in New Zealand? 4. InsurTechNZ acts as a gateway to insurtech communities in Australia and in other key markets through the Global InsurTech Alliance. Speaker Bio: Paul Barton, is the Managing Director at Bounce Insurance, New Zealand. Paul is an expert in parametric insurance and his company is the first insurance business that provides parametric solutions for Households and businesses in New Zealand. Paul’s experience supporting customers after the canterbury and Kaikoura earthquakes set the foundation for the development of Bounce by developing a parametric earthquake proposition with a focus on providing quick cash payments to policy holders after an earthquake event.
Navigating the Future of Benefits in a Changing Workforce
03-10-2024
Navigating the Future of Benefits in a Changing Workforce
The landscape of employee insurance and benefits is rapidly evolving to meet the changing needs of today’s workforce. Employers are increasingly focused on holistic well- being, offering benefits that extend beyond traditional healthcare to include mental health support, wellness programs, and flexible work arrangements. The shift towards remote and hybrid work has further accelerated the need for adaptable benefits that cater to a distributed workforce. Rising healthcare costs and economic uncertainties challenge companies to strike a balance between cost management and offering comprehensive benefits that attract and retain talent. Innovative approaches are emerging, driving competitive advantages in employee satisfaction and engagement. Points of discussion: 1. How have employee insurance and benefits packages evolved in recent years, particularly with the growing focus on employee well-being and mental health? 2.With the rise of hybrid and remote work, how are employers adapting their insurance offerings to meet the changing needs of a geographically dispersed workforce? Are there new types of benefits emerging to address these shifts? 3.In light of economic pressures and rising healthcare costs, how are companies balancing cost management with offering competitive, comprehensive employee insurance? Speaker Bio: Sanchit Malik is the Founder & CEO of Pazcare, India’s leading employee insurance & benefits platform. Pazcare enables employers to offer products like group health insurance, life insurance, accidental cover, annual health checks, OPD & tax savings benefits via Pazcard. Pazcare is used by over 2000 companies including Mamaearth, Chaayos and many more. Previous to Pazcare, Sanchit co-founded Townscript, India’s largest DIY events ticketing & registration platform. Townscript was acquired by Bookmyshow, a leading player in entertainment ticketing.
Health Matters: The new-age employee healthcare landscape
29-07-2024
Health Matters: The new-age employee healthcare landscape
Welcome to "Health Matters," where we explore the evolving landscape of employee healthcare in the modern workplace. As businesses recognize the vital role of health and wellness in productivity and job satisfaction, new-age approaches to employee healthcare are emerging. From cutting-edge technologies like wearable devices and telemedicine to comprehensive mental health programs and holistic wellness initiatives, companies are reimagining how they support their workforce. In this episode, we delve into these innovative strategies, examining how they improve health outcomes, enhance employee engagement, and create a more supportive and sustainable work environment. Join us as we uncover what new-age employee healthcare truly looks like. Points of discussion: 1. In today's fast-paced work environment, what are some innovative approaches companies are adopting to enhance employee healthcare and wellness? 2. What new products, technologies, and initiatives are you introducing to enhance employee well-being and healthcare accessibility for SMEs? 3. What role do mental health programs and resources play in the new-age employee healthcare landscape, and how can companies effectively integrate these into their wellness initiatives? Speaker Bio: Kulin Shah, who is the Co-Founder & COO at Onsurity. With over 15 years of experience, Kulin has excelled in business P&L, category and product management, brand partnerships, growth, and venture capital. As an entrepreneur, he built a B2C startup and is actively involved in the startup ecosystem as an angel investor, mentor, and advisor. Kulin is adept at achieving P&L goals, launching new categories and products, negotiating complex deals, and driving user acquisition and growth. He has successfully built and led high-performing teams to achieve ambitious business goals and significant market share. His specialties include category management, business P&L, CXO level engagements, product management, strategic partnerships, and fundraising.
AI/ML in revolutionizing actuarial pricing
25-07-2024
AI/ML in revolutionizing actuarial pricing
The integration of AI and machine learning (AIML) into actuarial pricing is transforming the insurance industry. AIML technologies enable insurers to analyze vast amounts of data with unprecedented speed and accuracy, leading to more precise risk assessments and pricing strategies. By leveraging advanced algorithms and predictive analytics, insurers can identify patterns and trends that traditional methods might miss, resulting in improved profitability and customer satisfaction. Despite challenges such as data quality and regulatory compliance, the continuous advancements in AIML promise a future where actuarial pricing is more dynamic, responsive, and tailored to individual risk profiles. Points of discussion: 1. What are the key reasons behind the shift from traditional actuarial pricing methods to AI and machine learning-based approaches in the insurance industry? 2. Can you discuss the top risks in the insurance industry today and how new data sources, like IoT devices and social media, are being leveraged by AI/ML models to better evaluate these risks? 3. What are some quantifiable advantages of using AI and machine learning in actuarial pricing? Can you provide examples or case studies where these technologies have led to significant improvements? Speaker Bio: Suguna Jayaraj, who is the Director of Pricing at MIC Global. Suguna is a passionate data science leader with a 15+ years of experience in insurance and banking industry. Before MIC Global, she lead analytics for Swiss Re Reinsurance solutions and ran the model development team of data scientists, data engineers, actuaries, geospatial scientists etc. in Bangalore. Prior to Swiss Re, she enabled marketing, product & claims team to realize the potential of advance analytics by increasing the top-line and the bottom line at AIG. Besides, she worked in multiple roles involving underwriting, capital modelling and wholesale banking in the BFSI space with HSBC and American Express. In addition, she has helped scale consulting start-ups and owned an e-commerce start up for a short stint. She was honoured as ’40 under 40 Data Scientists’ by Analytics India Magazine in 2021. She has co-authored two research papers in the insurance industry “ML based Geo-score to improve auto insurance pricing & Crime score for liability pricing”.
Hidden key driving the insurance industry forward for captives
16-07-2024
Hidden key driving the insurance industry forward for captives
The hidden key driving the insurance industry forward for captives lies in a combination of technological advancements, regulatory shifts, and innovative risk management strategies. Emerging technologies, such as AI and blockchain, are enhancing efficiency, transparency, and decision-making processes. Regulatory changes are creating new opportunities for captives to offer tailored solutions and address specific business needs. Innovative risk management approaches are allowing captives to better assess and mitigate risks, providing a competitive edge. These factors together are transforming the captive insurance landscape, enabling businesses to navigate complex risks with greater precision and flexibility. Points of discussion: 1.What emerging technologies are considered the hidden drivers behind the growth and evolution of the captive insurance industry, and how are they transforming traditional practices? 2.How have recent regulatory changes and market dynamics created new opportunities or challenges for captive insurers, and what key factors should industry leaders be paying attention to? 3.In what ways are captive insurers innovating their risk management strategies to stay ahead in a competitive landscape? Speaker Bio: Jeff Radke, is the Chief Executive Officer at Accelerant. Jeff has nearly 30 years of experience in insurance, having started his career as an intern at Guy Carpenter. Before founding Accelerant to reimagine the way risk is exchanged, Jeff drove strategic initiatives at Argo Group for a decade, and was previously CEO of the PXRE Group. His comprehensive understanding of the insurance industry inspired him to address critical pain points in the underwriting industry through Accelerant’s more data-driven approach.
Building and Optimizing Data Strategies in the BFSI Industry
03-07-2024
Building and Optimizing Data Strategies in the BFSI Industry
In this episode, we explore how institutions in the Banking, Financial Services, and Insurance (BFSI) industry can develop and optimize their data strategies to unlock the full potential of their data assets. We discuss the key components of robust data strategies, the importance of data governance, and the transformative role of advanced analytics and AI. Our conversation includes practical approaches and a tailored roadmap for organizations at different levels of operational maturity. Join us as industry experts share insights and best practices to help BFSI institutions drive innovation and achieve operational excellence through data-driven decision-making. Points of discussion: 1.What are some of the key problems that the insurance industry is trying to solve with AI and Analytics? 2.How can insurers leverage advanced analytics and AI to transform raw data into actionable insights, and what are some real-world examples of successful implementation? 3.What challenges do insurance organizations typically face when developing and optimizing their data strategies, and what steps can they take to overcome these barriers and enhance their data governance, management, and utilization practices? Speaker Bio: Shiraz Ritwik, is the Head of BFSI, CPG & Hospitality Growth at LatentView Analytics. Shiraz is an accomplished business consultant and analytics professional, currently leading BFSI & CPG & Hospitality Growth at LatentView Analytics. With a global presence in the US, EMEA, and India, he has helped Fortune 100 companies in sectors like BFSI, telecom, retail, and CPG achieve significant business impact. At LatentView Analytics, Shiraz drives AI/ML transformation for Fortune 500 organizations, helping them meet their data and AI objectives. His expertise spans marketing strategy, supply chain analytics, strategic sourcing, and IT outsourcing. A pioneer in data strategy for Financial Services, Shiraz also excels in converting data into actionable insights, revolutionizing the CPG sector's innovation approach.
Cautious optimism in the era of digital and AI
06-06-2024
Cautious optimism in the era of digital and AI
In this episode, we explore how the insurance industry is navigating the adoption of digital transformation and AI advancements with cautious optimism. These technologies promise to revolutionize underwriting, claims processing, and customer engagement, yet they also bring challenges such as regulatory hurdles and ethical concerns. We will discuss how insurers are balancing innovation with risk management, addressing data privacy issues, and transforming their workforce. Join us as we delve into strategies for leveraging digital and AI to enhance insurance operations while mitigating potential downsides. Points of discussion: 1.With rapid proliferation of digital, technology and AI across industries, what are some of the risks you foresee? And how can insurers help in mitigating these risks? 2.But digital technologies throw open a world of opportunities as well. Is there something that can help to explore these opportunities? 3.What does digital trust comprise of and can it be measured? Speaker Bio: Mitali Chatterjee, is the Vice President at Swiss Re Institute, India. Her key focus areas include digital ecosystem, mental health, public sector solutions, electric vehicles, sustainability and decarbonization. She has over eleven years of experience in research and thought leadership and is a regular speaker at various industry and academic forums, along with client events. Prior to joining Swiss Re, Mitali was a research specialist with Accenture. She has also worked at the Deloitte Center for Government Insights. In these roles, Mitali has authored several thought papers focusing on cross-cutting emerging technologies and their impact on the public sector. By education, Mitali is an economist, with a master's degree from Indira Gandhi Institute of Development Research (IGIDR).
Offering Life Insurance Solutions to First Generation Customer
29-05-2024
Offering Life Insurance Solutions to First Generation Customer
Offering Life Insurance Solutions to First Generation Customers delves into the nuanced approach required to provide effective life insurance options to individuals from immigrant or first-generation backgrounds. It explores tailoring policies to align with diverse financial situations and cultural perspectives. The discussion navigates common barriers, like language barriers and lack of familiarity with financial products, offering insights into overcoming them. It also highlights the importance of building trust and understanding between advisors and clients, emphasizing the role of education and culturally sensitive communication in facilitating informed decisions and securing financial protection for these often underserved communities. Points of discussion: 1.How do you tailor life insurance solutions to meet the unique needs and concerns of first-generation customers, considering their diverse backgrounds and financial priorities? 2.What are some common misconceptions or barriers that first-generation individuals face when considering life insurance, and how can these be effectively addressed to encourage greater participation and understanding? 3.In what ways can financial advisors or insurance professionals build trust and rapport with first-generation clients to facilitate informed decision-making regarding life insurance options and long-term financial planning? Can you give an example from the Cambodian market? Speaker Bio: Sythan Prou, is the Chief Executive Officer of Forte Life Cambodia, which at the time of writing is the largest life insurer in Cambodia in terms of its customer base. Mr Sythan is among the few Cambodian senior leaders who pioneered life insurance in 2012 when he joined Manulife Cambodia as the Chief Legal & Compliance Officer and later becoming the Chief Partnership Distribution Officer. Throughout his career Sythan has received several accolades, most notably the Royal Order of the Kingdom of Cambodia – Mohasena (Grand Officer) from the King of Cambodia for his contribution towards insurance, education and legal communities; the Young Leader of the Year award in 2021 from Asia Insurance Review; and inclusion in the Asian Legal Business 40 Under 40.
Digitization of the insurance market in Thailand
24-05-2024
Digitization of the insurance market in Thailand
The digitization of the insurance market in Thailand is transforming the industry, enhancing efficiency, accessibility, and customer experience. This shift is driven by advanced technologies such as artificial intelligence, blockchain, and big data analytics, which streamline processes from policy issuance to claims management. Insurtech startups and traditional insurers alike are leveraging online platforms and mobile applications to offer personalized products and services. This digital evolution not only meets the rising demand for convenient, transparent, and swift insurance solutions but also supports regulatory compliance and risk management. As a result, Thailand's insurance sector is poised for significant growth and innovation. Points of discussion: 1.What specific challenges has the insurance industry in Thailand faced in transitioning to a digital-first approach? 2.What are some notable examples of innovative digital strategies that insurance companies in Thailand have implemented to stay competitive? 3.Can digitization help address the issue of underinsurance in Thailand? If so, how? Speaker bio: Ben Assanasen, is the Managing Director at Thai Setakij Insurance company. Prior to joining Setakij, Ben lead Tune Protect Thailand, an associate company of Tune Protect Group, as its Chief Executive Officer and Group Health Leader. Ben brings with him a wealth of industry experience that spans over 2 decades - encompassing general management as well as hands-on operational roles covering a broad range of functions. Prior to Tune Protect, he worked for Ernst and Young (EY), as an Associate Partner for ASEAN; as the Managing Director of Bupa Health Insurance; and as the Chief Executive Officer of Aegon in Thailand. He has also been appointed as Director of the Executive Committee and Advisory Director of the Accident and Health Insurance Committee of the Thailand General Insurance Association (TGIA).
Navigating the Future: Guidewire Driven Transformation in Insurance
21-05-2024
Navigating the Future: Guidewire Driven Transformation in Insurance
In the podcast "Navigating the Future: Guidewire Driven Transformation in Insurance," industry experts explore how Guidewire technology is revolutionizing the insurance sector. They delve into the ways insurance companies are leveraging Guidewire to adapt to industry shifts, discussing successful implementations and the benefits they yield. The conversation also delves into challenges encountered during these transformations and offers insights into the future role of Guidewire in shaping insurance landscapes. Through examples and analysis, listeners gain a comprehensive understanding of the pivotal role Guidewire plays in driving innovation and efficiency within the insurance industry. Points of discussion: 1.How are insurance companies leveraging Guidewire technology to adapt to the evolving landscape of the industry, and what specific transformations has it enabled? 2.Could you provide examples of successful implementations of Guidewire-driven transformations in insurance, highlighting the key benefits and challenges faced by organizations during the process? 3.With the rapid advancements in technology and data analytics, how do you see Guidewire continuing to shape the future of insurance, and what are the potential implications for both insurers and customers? Speaker Bio: Ravi Thakur, who is the SVP – Financial Services & Insurance - Zensar Technologies. Ravi is a seasoned leader with over 25 years of extensive experience in the insurance and healthcare industries. Renowned for his ability to create lasting shareholder value, Ravi has consistently demonstrated his expertise in business and technology transformation, collaborating closely with clients to achieve substantial results. With a proven track record of building and growing profitable business portfolios, Ravi excels in implementing strategic initiatives and optimizing business performance. His growth mindset and passion for taking on new challenges drives him to continuously create value, leveraging a unique blend of strategy, operations, technology, and innovative thinking. Ravi holds an MBA from IIM Calcutta, specializing in Finance and MIS, and a B.Tech. in Electrical and Electronics Engineering from IIT Madras. His diverse expertise spans P&L Management, IT strategy and advisory, innovation, digital transformation, business development and sales leadership, large deal orchestration, operations and operating model transformation, partnerships and alliances, and coaching and mentorship.
Digital Revolution in Insurance: Tech, Privacy, and Beyond
29-03-2024
Digital Revolution in Insurance: Tech, Privacy, and Beyond
In today's rapidly evolving landscape, the insurance industry finds itself at the forefront of a digital revolution. As technology continues to advance, insurers are navigating a transformative wave characterized by innovations in AI, machine learning, and blockchain. However, amidst this wave, the paramount importance of data privacy emerges as a critical concern. Striking a delicate balance between leveraging customer data for personalized services and safeguarding privacy is imperative. Beyond technological advancements, factors like regulatory frameworks and industry standards shape the trajectory of digital transformation initiatives. Join us as we explore the multifaceted journey of digital evolution in insurance, spanning tech innovations, data privacy, and more. Points of discussion: 1. How is technology reshaping the landscape of the insurance industry, and what are the key challenges and opportunities for insurers in adopting emerging technologies? 2. Why is data privacy crucial in the digital transformation journey of insurance, and how do insurers navigate the delicate balance between utilizing customer data for personalized services and safeguarding privacy? 3. Beyond technological advancements, what are the multifaceted factors influencing digital transformation in insurance, including regulatory frameworks, industry standards, and the integration of innovative risk management strategies and customer-centric product development? Speaker Bio: Rohit Kilam, is the Chief Technology Officer at HDFC Life. Rohit at HDFC Life, spearheads digital transformation and innovation efforts. With over 25 years of experience in technology leadership across Europe, India, and ASEAN, he has collaborated with technology giants and financial firms. His expertise lies in developing and managing state-of-the-art fintech products and platforms, utilizing cloud, open source, AI, and IoT technologies. Besides, Rohit has successfully overseen the development of products for various payment channels, wealth platforms, card personalization, and digital lending and collections. Additionally, he serves as an advisor and investor, supporting and mentoring start-ups in deep tech and fintech.
AI-Powered Customer Engagement Strategies for Insurance Brokers
20-03-2024
AI-Powered Customer Engagement Strategies for Insurance Brokers
In the dynamic landscape of insurance brokerage in India, AI is rapidly transforming customer engagement strategies. Leveraging AI-powered solutions, brokers can now offer personalized services, streamline operations, and enhance overall customer satisfaction. These technologies enable brokers to analyze vast amounts of data to understand customer needs better, predict trends, and offer tailored products. With AI, brokers can automate routine tasks, allowing them to focus on building meaningful relationships with clients. Embracing AI not only improves efficiency but also enables brokers to stay competitive in a rapidly evolving market, ensuring they can meet the diverse needs of their customers effectively. Points of discussion: 1. How is AI currently being used to enhance customer engagement in the insurance brokerage? 2. What are some practical tips for insurance brokers looking to implement AI-powered customer engagement strategies? Speaker Bio: Dr. Sandeep Dadia, is the Chief Executive Officer and country head, at Lockton India, which is the the world's largest privately owned, independent insurance broker. He assumed this role in February 2024, transitioning from his 12-year tenure as the CEO and Principal Officer at Aditya Birla Insurance Brokers Ltd. (ABIBL). Dr. Dadia boasts over two decades of experience in the insurance sector, encompassing broking, reinsurance, and third-party administration. Besides, his blend of medical and insurance expertise lends a distinctive perspective to risk management and client service. Driven by a commitment to growth and innovation, he has spearheaded digitization efforts across retail and commercial lines while forging strategic partnerships within the industry. Dr. Dadia's exceptional leadership and performance were recognized with the CEO of the Year award in both 2021 and 2022. Passionate about sharing his wisdom, he is also an accomplished author and speaker, penning a book on his spiritual journey titled "A Soul Tie".
The Evolution of Insurance Affinity: Past, Present, and Future
12-03-2024
The Evolution of Insurance Affinity: Past, Present, and Future
The evolution of insurance affinity is a dynamic journey encompassing the past, present, and future. Historically shaped by societal needs and economic shifts, insurance affinity has undergone significant transformations. In today's landscape, technology and data play pivotal roles, enabling insurance companies to forge stronger connections with customers through personalized strategies. Looking forward, the future of insurance affinity is poised for further evolution, with emerging technologies, societal changes, and regulatory dynamics influencing the trajectory. As the industry adapts to these factors, the podcast explores the fascinating narrative of insurance affinity, shedding light on its historical roots and future possibilities. Points of discussion: 1. How has the concept of insurance affinity evolved over the years, and what key historical factors have shaped its trajectory from the past to the present? 2. In the current landscape, how are insurance companies leveraging technology and data to build stronger affinity with customers? Can you provide examples of innovative strategies that have emerged in recent years? 3. Looking ahead, what trends and developments do you foresee in the future of insurance affinity? How might emerging technologies, societal shifts, or regulatory changes impact the evolution of insurance affinity in the years to come? Speaker Bio: Phil Hobson, is the Managing Director for Affinity, at Marsh. Hobson joined Marsh in 1996 and has served in a variety of leadership roles, most recently as commercial and consumer leader for Asia. He has more than 34 years of industry experience and has led teams across Asia Pacific.
Cyber Insurance Beyond Ransomware
17-02-2024
Cyber Insurance Beyond Ransomware
In the rapidly evolving landscape of cyber threats, cyber insurance has traditionally focused on mitigating losses primarily from ransomware attacks. However, as cybercriminals diversify their tactics, the scope of cyber insurance is expanding beyond ransomware to encompass a broader array of risks. This shift reflects the growing recognition among businesses of the need for comprehensive protection against a range of cyber threats, including data breaches, supply chain vulnerabilities, and social engineering scams. As organizations seek to bolster their resilience in the face of these challenges, cyber insurance providers are adapting their policies to offer more tailored coverage and proactive risk management solutions. Points of discussion: 1. How has the rise of sophisticated cyber threats beyond ransomware influenced the evolution of cyber insurance policies, and what new coverage options are emerging to address these challenges? 2. What are some key considerations for businesses looking to enhance their cyber insurance coverage beyond ransomware, particularly in light of the increasing frequency and complexity of cyber-attacks? 3. In what ways can organizations leverage cyber insurance as a strategic tool beyond mitigating financial losses, such as improving cybersecurity posture and fostering a culture of cyber resilience? Speaker Bio: John Pennick, is the Financial Risks Director and member of the board at Berkeley Insurance Group UK Limited. John is a highly experienced Financial Risks Director specializing in Professional Indemnity, Cyber, and other specialist insurances, with over 30 years of expertise. He advises businesses on managing and insuring financial, legal, and regulatory risks, offering practical advice and in-house training. John is a market leader in Cyber insurance and a founding member and Chairman of the British Insurance Brokers’ Association’s Cyber Focus Group. He regularly speaks at Cyber conferences and networking events and collaborates with organizations such as the CBI, Willis Towers Watson Network, and Institute of Fundraising. John is a key liaison with the government, Information Commissioner’s Office, and Association of British Insurers.
Innovations in Insurance Billing and Payment Infrastructure
15-02-2024
Innovations in Insurance Billing and Payment Infrastructure
Exploring the forefront of insurance technology, our podcast delves into the latest innovations reshaping billing and payment infrastructure within the industry. Through insightful discussions with our speaker, we unravel how Insurtech firms leverage cutting edge technologies like blockchain and AI to streamline processes and enhance customer experiences. From overcoming regulatory hurdles to forecasting future trends, we uncover the dynamic landscape where traditional practices meet digital transformation. Join us as we navigate the complexities, opportunities, and challenges driving the evolution of insurance billing and payment systems. Points of discussion: 1. How are Insurtech companies leveraging technology to enhance the efficiency and transparency of insurance billing and payment processes? 2. Can you discuss some of the most promising innovations in insurance billing and payment infrastructure, and how they're addressing longstanding challenges within the industry? 3. What role does, emerging technologies such as blockchain, artificial intelligence, and machine learning play in revolutionizing insurance billing and payment systems, and what are the potential implications for insurers and policyholders alike? Speaker Bio: Shaun Quincey, is the CEO & Co-founder of Simfuni, New Zealand. Shaun is a payments expert known for his buy now, pay later venture which was later sold to Latitude in 2019. His passion for innovation led to Simfuni's inception, targeting insurance payments. Simfuni aims to digitize and streamline insurance payments, prioritizing customer preferences and integrating with industry software. Beyond transactions, Simfuni sees payments as vital to service consumption, aiming for seamless experiences. Their vision includes intuitive insurance payments, enhancing customer understanding, and engagement for sellers. Shaun’s journey reflects a commitment to elegant payment solutions, positioning Simfuni to revolutionize the insurance payment landscape with user-friendly, efficient processes.