The Leadership in Insurance Podcast - Insurtech & Innovation The Leadership in Insurance Podcast - S1, E15, Frank Perkins CEO of INARI.IO
Feb 1, 2021
49:24
In this week's episode, I was joined by Frank Perkins who is CEO of INARI.IO
INARI.IO is an Instech operating out of Barcelona. They offer a next-generation insurance platform, they digitize and virtualize the different things that happen in the life cycle of risk.
In this episode we discuss
- Startups are not for everyone - creativity is as important as hard work
- How the people that join at inception may not be the people to necessarily take you to completion
- "Is the juice worth the squeeze" Insurance is big enough to have many problems to solve but is it a big enough issue
- Insurers cannot tackle small problems - Instechs can
- Innovation can be any change that creates value
- The insurance culture of the fast follower can inhibit innovation
- Fresh eyes to insurance are important but regulation requires insider knowledge
- We should always be asking how change or innovation impacts the customers
- We need to tackle each point of innovation to make things better in the aggregate for the commercial customer
- Restrictions of regulated businesses and the MVP tech model
- Insurance isn't broken
- Connected technology is key to the future success of insurance
- How connectivity between technologies is key to progress and also how consumers will judge tech
- Buy vs make - the shift of mindset over time - integrate vs make job roles in insurers
- Cost vs Risk with buying or making tech
- Teams are built on skill, luck, and serendipity
- The best definition of Innovation so far - "slightly rounder wheels"
Thanks to Frank for being a great guest - I mention the Star Wars background - you can see this on the YouTube channel so go check it out.
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