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

AI/ML in revolutionizing actuarial pricing
2d ago
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.
Evolution of work in the age of innovation for insurers
10-05-2024
Evolution of work in the age of innovation for insurers
In today's fast-paced world, the insurance industry finds itself at the intersection of innovation and ever-changing risks. The evolution of work within this sector reflects a dynamic response to technological advancements, changing customer demands, and emerging workforce trends. From embracing AI-driven solutions to redefining traditional employment structures, insurers are navigating a landscape shaped by digital transformation. In this podcast, we delve into the intricate dynamics of how insurers are reshaping their approach to work in the age of innovation, exploring strategies, challenges, and the future of employment in this ever-evolving sector. Points of discussion: 1.How does the world today cope-up with Rapid Innovation?2.Two Strategic imperatives of our times - Innovation and ESG - can the two co-exist? 3.What does innovation mean for the insurance industry going forward.4. What does Future of work mean for you? And how does one craft a winning strategy? Speaker Bio: Abhinav Garg is the Senior Vice President - Strategy & Change for India & Poland at AXA XL. Abhinav is a seasoned expert in strategy, innovation, and ESG having spent nearly two decades with renowned organizations like AXA, Boston Consulting Group, and McKinsey & Company. Recently honoured with the Innovation Leadership award by the World Innovation Congress, he's actively involved in mentoring deep-tech startups, aiming to foster India's startup ecosystem towards a 1-Trillion startup economy by 2030. He is a sought-after Global Capability Center (GCC) Leader in the Asian Region, often invited at distinguished forums for expert views on the industry. Abhinav advocates for innovation that benefits humanity and collaborates with the broader ecosystem to drive meaningful change in ESG. Note: Views and opinions shared here are purely of the speaker and not of any organizations and institutions that he/she may represent.
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.
Exploring the Impact of 'Cashless Everywhere' Initiative in India
08-02-2024
Exploring the Impact of 'Cashless Everywhere' Initiative in India
In the ever-evolving landscape of health insurance, the General Insurance Council has ushered in a transformative era with its ground-breaking initiative, 'Cashless Everywhere.' This innovative move promises policyholders the liberty to choose any hospital for treatment, introducing a cashless facility, even beyond the insurer's network. The General Insurance Council envisions this initiative as a remedy to the financial strain often experienced by policyholders. This podcast delves into the intricacies of this initiative, exploring its potential to streamline the claims process, enhance policyholder experience, and serve as a potent tool in the ongoing battle against insurance fraud. Points of discussion: 1. How does the 'Cashless Everywhere' initiative by the General Insurance Council of India aims to address the current challenges faced by policyholders when seeking treatment in hospitals outside their insurer's network? 2. How does the 'cashless everywhere' facility plan to alleviate the financial stress on policyholders and streamline the claims process 3. How does the 'Cashless Everywhere' initiative contribute to enhancing trust in the system and creating a more seamless experience for policyholders? Speaker Bio: Segar Sampathkumar, is the Director for Health Insurance at General Insurance Council of India. Sampath’s appointment at GIC, aims to implement comprehensive changes within the sector, ultimately leading to the establishment of a 100% cashless payment system. Sampath, prior to joining GIC, held the position of Insurance Ombudsman in Chennai for nearly two years and his experience also includes serving as a general manager responsible for the health insurance portfolio at New India Assurance, the largest non-life general insurer in India.
Generative AI model evaluation and usage in Insurance
05-02-2024
Generative AI model evaluation and usage in Insurance
In the dynamic landscape of insurance, the integration of generative AI models has emerged as a transformative force, reshaping traditional approaches to risk assessment, claims processing, and overall decision-making. As these sophisticated models become integral to industry practices, questions surrounding their evaluation metrics, real-world applications, and ethical implications become paramount. In this podcast, we delve into the intricacies of generative AI's role in insurance, exploring key metrics, practical successes, and the ethical considerations that guide their development. Join us as we navigate the intersection of artificial intelligence and insurance, unraveling the promises, challenges, and evolving landscape of this cutting-edge technology. Points of Discussion: 1. How do you see the evolution of AI/ML solutions being used in Insurance industry, and the changes being brought by Gen AI technology? 2. Can you provide examples of successful Gen AI applications in insurance, and what lessons have been learned from these implementations? 3. What ethical considerations and steps are being taken to address potential biases in the development and deployment of Gen AI models in the insurance industry? Speaker Bio: Goutam Kanjilal leads the Global Delivery-Insurance operations at Exavalu. He is a seasoned technology professional with over 25 years of experience in the IT industry focused on Insurance customers across geographies. Over the years, he has played various management and leadership roles in Insurance Consulting, Market Development, Product Development, Program Delivery, Practice Development, and Delivery Management. Before joining Exavalu, Goutam was part of Cognizant, where he played various key roles within Insurance practice. Goutam has been involved in several strategic initiatives where he worked closely with global and regional Insurers in their core and digital transformation programs in the Life, Group Benefits, Retirement, and P&C domain. Goutam holds a B.E. in Mechanical Engineering.
How traditional brokers can embrace technological Innovations
03-02-2024
How traditional brokers can embrace technological Innovations
As the insurance industry undergoes a digital revolution, traditional brokers grapple with the need to embrace technological innovations. This podcast delves into the strategies for seamlessly integrating technology into their practices, enhancing client services, and optimizing operations. Exploring the challenges inherent in this transition, it provides insights into overcoming obstacles and staying competitive amid the rise of insurtech start-ups. Discover the key advancements traditional brokers should prioritize to not only survive but thrive in the dynamic landscape, ensuring their continued relevance in an industry undergoing rapid transformation. Points of discussion: 1. In navigating the intersection of tradition and technology, how can traditional insurance brokers effectively integrate and leverage technological innovations to enhance their client services and streamline operations? 2. As technology continues to reshape the insurance landscape, what specific challenges do traditional brokers face in adopting new tools and platforms? What strategies can be employed to overcome these challenges and ensure a seamless transition to a more tech-savvy approach? 3. With insurtech start-ups disrupting the industry, how can traditional brokers stay competitive and relevant? What are the key technological advancements that brokers should prioritize to not only survive but thrive in the evolving insurance market? Speaker Bio: Harprem Doowa, is the Founder at Eazy Digital. He was most recently the co-founder and CEO of Frank Insurance, an online digital broker based out of Thailand that innovated the way insurance was bought and sold. He successfully exited the company to Bolttech in 2020 and continued to work for Bolttech and CDO and Head of Insuretech for another 2 years before going back to his entrepreneurial roots.
Synergies in cyber security and insurance
15-01-2024
Synergies in cyber security and insurance
In an era marked by escalating cyber threats, the intersection of cybersecurity and insurance has become a critical focal point for safeguarding businesses. This podcast explores the synergies between these two domains, delving into the evolving strategies and collaborative efforts that industry experts employ to navigate the complex landscape of cyber risks. From identifying shared challenges to harnessing innovative solutions, we unravel the integral relationship between cybersecurity and insurance, shedding light on how organizations can fortify their defences, mitigate risks, and foster resilience in the face of an ever-changing digital threat landscape. Welcome to a conversation at the nexus of security and assurance. Points of discussion: 1. How are the evolving dynamics of cyber threats influencing the collaboration between the cybersecurity and insurance industries, and what synergies can be identified in addressing the rapidly changing risk landscape? 2. In the realm of cybersecurity and insurance, what key challenges and opportunities arise when attempting to align strategies and practices? How can organizations effectively navigate these complexities to enhance their overall risk management approach? 3. With the increasing frequency and sophistication of cyberattacks, how do cybersecurity and insurance professionals collaborate to develop innovative solutions and frameworks that not only mitigate risks but also promote a more resilient and adaptive security posture? Speaker Bio: Hilario Itriago, is the President of Boxx Insurance USA. Hilario a seasoned insurance professional, boasts over 20 years in the industry, predominantly with RSA Insurance Group. Notably, he served as Regional COO and later CEO of a USD 1.2 billion business spanning six LATAM countries, achieving a remarkable 19.4% CAGR from 2010 to 2014. With extensive expertise in diverse markets like the UK, the Baltics, and LATAM, Hilario has proven leadership in steering substantial business growth and facilitating strategic transactions.
Tech trends for insurance product flexibility
27-12-2023
Tech trends for insurance product flexibility
In this podcast episode, we explore the dynamic intersection of technology and insurance, delving into the transformative trends that are reshaping the flexibility of insurance products. Our discussions with industry expert unveil the cutting-edge role of innovations such as AI, blockchain, and Insurtech solutions. Real-world case studies spotlight successful implementations of these technologies, showcasing how insurers are crafting adaptable products that cater to the evolving needs of policyholders. We also address the delicate balance insurers must strike between adopting new technologies for flexibility and ensuring security, compliance, and an optimal user experience. Join us to unravel the tech trends revolutionising insurance flexibility. Points of discussion: 1. In the rapidly evolving landscape of insurance, technology plays a pivotal role. Could you highlight specific technological trends that are currently transforming the flexibility of insurance products, and how these innovations are reshaping the way insurers approach product development? 2. With the rise of Insurtech and advancements like AI and blockchain, there's a significant impact on the flexibility of insurance offerings. Can you share real-world examples or case studies where technology has been successfully harnessed to create more adaptable insurance products, meeting the diverse needs of policyholders? 3. How do insurers balance the adoption of new technologies to enhance flexibility in product development while ensuring security, compliance, and a positive user experience for both customers and industry stakeholders? Speaker Bio: Randel Bennet is the founder and Principal Consultant of Qixent Insurance Services, a consultancy firm specializing in providing innovative insurance solutions. Prior to forming Qixent, Randel was the Vice President of Strategic Partnerships at Swiss Re, and he was also the co-founder of an insurtech focused on auto insurance, besides being a product management leader at various insurance brands.
Unleashing the Power of Enterprise Analytics in Insurance
23-12-2023
Unleashing the Power of Enterprise Analytics in Insurance
In this episode, we delve into the transformative world of enterprise analytics within the insurance industry. As data becomes increasingly abundant, insurance companies are leveraging advanced analytics to gain valuable insights, enhance decision-making processes, and optimize overall business performance. Join us as we explore the latest trends, challenges, and success stories in the realm of enterprise analytics, shedding light on how insurers are harnessing the power of data to drive innovation, improve customer experiences, and stay ahead in an ever-evolving landscape. From predictive modelling and risk analysis to personalized customer solutions, our expert guests will share their insights into the pivotal role analytics plays in shaping the future of insurance. Whether you're a seasoned professional in the industry or just curious about the intersection of data and insurance, this episode promises to unravel the intricacies of enterprise analytics and its impact on the insurance ecosystem. Points of discussion: 1. How has the role of enterprise analytics evolved in the insurance industry, and what notable changes have you observed in recent years? 2. What are the primary challenges insurers face when implementing enterprise analytics, and are there any specific strategies or solutions that have proven effective in overcoming these hurdles? 3. In what ways is enterprise analytics reshaping customer experiences in insurance, and can you share a brief example of a successful application? Speaker Bio: Amit Boni, is the Founder & CEO of Ensuredit. Ensuredit is an insurtech that enables and empowers end customers and Insurance Intermediaries with AI-based product platforms for transformational customer experience.