InsTech - insurance & innovation with Matthew Grant & Robin Merttens

Reaching emission reduction and sustainability goals is becoming more important than ever. Supporting the carbon markets, including through new insurance products, can be a key way of doing this.  This week Matthew Grant speaks to InsTech’s own Ali Smedley - Senior Research Analyst and author of “Carbon offsetting: the insurance use case”. To learn more, you can download the report here. Topics include: The difference between a carbon offset and carbon credit Examples of carbon offset projects and their risks What’s happening with carbon insurance at the moment How data and technology companies can support insurers We’d love to know what you think about this episode - click here and add your thoughts to our LinkedIn post about it. If you like what you're hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn. Sign up to the InsTech newsletter for a fresh view on the world every Wednesday morning. To find out more about InsTech, our membership and offerings visit www.instech.co or contact us hello@instech.co Continuing Professional Development - Learning Objectives InsTech is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech podcast, you can claim up to 0.5 hours towards your CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: Explain carbon offset projects and their risks Describe what is happening in the carbon markets today Identify the difference between a carbon offset and carbon credit If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 256 page of the InsTech website or email cpd@instech.co to let us know you have listened to this podcast. To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey

While supply chains are under increasing pressure, many losses associated with cargo delays go uninsured. If shipments are late, perishable goods are lost, business is interrupted and budgets are overspent. Henry Gale speaks to Yann Barbarroux, CEO and Co-founder at Otonomi about the insurance product the company has built to cover supply chain delays for third-party logistics companies and freight forwarders. Topics include: Getting cargo underwriters at Lloyd’s comfortable with a delay product Three approaches to distribution for new insurance products How the Ever Given ship stuck in the Suez Canal affected supply chains Customer responses to parametric products Otonomi's experience in the Lloyd's Lab We’d love to know what you think about this episode - click here and add your thoughts to our LinkedIn post about it. If you like what you're hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn. Sign up to the InsTech newsletter for a fresh view on the world every Wednesday morning. To find out more about InsTech, our membership and offerings visit www.instech.co or contact us hello@instech.co Continuing Professional Development - Learning Objectives InsTech is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech podcast, you can claim up to 0.5 hours towards your CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: Explain some of the financial challenges cargo shipment delays cause Describe some of the benefits of creating successful partnerships Identify the key role underwriters have in financial risk If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 255 page of the InsTech website or email cpd@instech.co to let us know you have listened to this podcast. To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey

Technology comes in many forms - some of it is very visible and accessible - but a lot of the important technology is working away out of sight - and usually out of mind. And many of the most successful companies are those that are building out this critical infrastructure.  Richard Tyler, Founder and CEO of Phinsys and Eric Butler, Head of Americas and Bermuda join Matthew Grant to discuss why Phinsys was launched. Topics include: How to help insurers understand where they have been, where they are now and where they are going From frustrated business user to successful start-up founder - why these companies succeed Connecting the financial plumbing - the benefits of buy versus build We’d love to know what you think about this episode - click here and add your thoughts to our LinkedIn post about it. If you like what you're hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn. Sign up to the InsTech newsletter for a fresh view on the world every Wednesday morning. To find out more about InsTech, our membership and offerings visit www.instech.co or contact us hello@instech.co Continuing Professional Development - Learning Objectives InsTech is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech podcast, you can claim up to 0.5 hours towards your CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: Describe some of the ways of successfully building a business & the challenges that must be overcome Summarise the transition of modern-day insurers Explain the importance of technological infrastructure If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 254 page of the InsTech website or email cpd@instech.co to let us know you have listened to this podcast. To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey  

Send offers modular commercial insurance software to insurers, reinsurers and MGAs. The core offering is an underwriting workbench that supports from initial enquiry to bind. It’s a single place for underwriters to access data, documents and decision points. New insurers can use it as a core system, or for more mature companies, it can be bolted onto existing systems, including legacy. Send was founded in 2017 by three insurance veterans. Topics covered include: How to sort through underwriting information that is unstructured and often unwanted How large insurers are able to accelerate the adoption of new technology How ChatGPT is being used to make sense of email Reducing the cost and risk of deployment How to avoid the challenge of making simple things simple but complex things impossible Revealing Send’s strategy of “continuous development” We’d love to know what you think about this episode - click here and add your thoughts to our LinkedIn post about it. If you like what you're hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn. Sign up to the InsTech newsletter for a fresh view on the world every Wednesday morning. To find out more about InsTech, our membership and offerings visit www.instech.co or contact us hello@instech.co Continuing Professional Development - Learning Objectives InsTech is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech podcast, you can claim up to 0.5 hours towards your CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: Describe some of the advantages of using ChatGPT as an administration tool Explain the methods used to increase efficiencies when sorting data Summarise the key challenges faced when trying to solve complex issues If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 253 page of the InsTech website or email cpd@instech.co to let us know you have listened to this podcast. To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey

Flood events are increasing around the world, with many losses uncovered by insurance. Whilst parametric solutions can help provide new capacity to insure catastrophic risks and widen access to insurance, parametric flood insurance is not yet as widespread as parametric covers for hurricanes or earthquakes, due in part to data and modelling challenges specific to flood.  Henry Gale speaks to Peter Lacovara, Head of Commercial, Floodbase about how the company is working to make parametric flood insurance possible with satellite imagery, machine learning and partnerships with insurers and brokers. Topics include: Peter's experience leading parametric broking in North America at Marsh The types of companies looking for parametric flood insurance Training a machine to find flood water in satellite images What 'fractional flooded area' is and how it can be used as a parametric trigger Floodbase's work with FEMA on the US National Flood Insurance Program (NFIP) We’d love to know what you think about this episode - click here and add your thoughts to our LinkedIn post about it. If you like what you're hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn. Sign up to the InsTech newsletter for a fresh view on the world every Wednesday morning. To find out more about InsTech, our membership and offerings visit www.instech.co or contact us hello@instech.co Continuing Professional Development - Learning Objectives InsTech is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech podcast, you can claim up to 0.5 hours towards your CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: Explain some of the data & modelling challenges flood insurance encounters Describe how using satellite imagery can provide a solution to flood insurance Identify the key benefits of having different partnerships If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 252 page of the InsTech website or email cpd@instech.co to let us know you have listened to this podcast. To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey

The Florida insurance market has faced numerous challenges in recent years. For insurers to underwrite profitably in Florida, having the right hurricane reinsurance is essential. David Schmid, Head of Parametric Products, Reask and Brian Espie, Chief Underwriting Officer, Kettle, join Henry Gale to discuss the new parametric reinsurance solution Kettle and Reask have created for Florida hurricane risks. Topics include: Why parametric can help insurers buy reinsurance that reflects their own view of risk The advantages of parametric reinsurance over industry loss warranties (ILWs) The data sources Reask uses to calculate hurricane wind speed at different locations How Hurricane Ian's wind patterns were unusual and why it matters We’d love to know what you think about this episode - click here and add your thoughts to our LinkedIn post about it. If you like what you're hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn. Sign up to the InsTech newsletter for a fresh view on the world every Wednesday morning. To find out more about InsTech, our membership and offerings visit www.instech.co or contact us hello@instech.co Continuing Professional Development - Learning Objectives InsTech is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech podcast, you can claim up to 0.5 hours towards your CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: Describe some of the ways analysing natural disaster behaviours can help to underwrite Identify different reinsurance options and understand the importance of choosing the correct one Explain why calculating hurricane wind speed is essential If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 251 page of the InsTech website or email cpd@instech.co to let us know you have listened to this podcast. To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey

Matthew Grant is back talking to another co-founder of a successful technology company. Louw Hopley is Co-founder and CEO of Root which is providing technology to support embedded insurance for companies in South Africa, UK and other countries. Topics include: The advantages of building technology for companies in South Africa What an API really is and how it works The emerging use of Generative AI for writing and testing code Finding your business partner If you like what you're hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn. Sign up to the InsTech newsletter for a fresh view on the world every Wednesday morning. To find out more about InsTech, our membership and offerings visit www.instech.co or contact us hello@instech.co Continuing Professional Development - Learning Objectives InsTech is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech podcast, you can claim up to 0.5 hours towards your CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: Describe some of the advantages geographical locations have when considering where you should build-a-business Explain the pros and cons of using AI across insurance platforms Identify some of the successes partnering with smaller start-up businesses can bring If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 250 page of the InsTech website or email cpd@instech.co to let us know you have listened to this podcast. To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey.

One of the fundamentals of Insurance is understanding the nature of the risk. What happens when a bookshop adds in a coffee shop - is that riskier? Has this been communicated to the insurer? Does the premium change to reflect that? Matthew Grant is talking to Roger Ferrandis, COO and Co-founder, Wenalyze about how the company is helping insurers identify significant changes in their portfolio. Topics include: How a leading insurer increased annual premium income by repricing its clients' business Building a start-up and surviving two pivots Sources of data around the world Making it easy to integrate into workflows We’d love to know what you think about this episode - click here and add your thoughts to our LinkedIn post about it. If you like what you're hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn. Sign up to the InsTech newsletter for a fresh view on the world every Wednesday morning. To find out more about InsTech, our membership and offerings visit www.instech.co or contact us hello@instech.co Continuing Professional Development - Learning Objectives InsTech is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech podcast, you can claim up to 0.5 hours towards your CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: Identify some of the different methods used to increase business premiums Explain how to evaluate the level of risk in insurance Summarise how to effectively use data from a global perspective If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 249 page of the InsTech website or email cpd@instech.co to let us know you have listened to this podcast. To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey.

With all the new technology emerging - and insurers thirsty for knowledge - there’s a growing need for someone to help figure out how to join it all together. Robin Merttens talks to Daren Rudd, VP Consulting - Head of Insurance Business and Technology Consulting, UK at CGI. You’ll hear about Daren’s personal experience and how he and his colleagues are helping insurers engage with new and innovative technology, data and analytics. Topics covered include: The most notable developments in how insurers engage with digital from the last decade Why technology is the new Lego Why we are looking in the wrong place to solve the industry’s data problem Success stories in implementing IOT for insurers Go digital but allow time to dance  The book recommendation from this week’s guest Daren is Digital Darwinism: Survival of the Fittest in the Age of Business Disruption by Tom Goodwin. If you like what you're hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn. Sign up to the InsTech newsletter for a fresh view on the world every Wednesday morning. To find out more about InsTech, our membership and offerings visit www.instech.co or contact us hello@instech.co Continuing Professional Development - Learning Objectives InsTech is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech podcast, you can claim up to 0.5 hours towards your CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: List some of the recent technological advancements in the insurance industry Explain how the nature of technology is changing and why our relationships with technology must develop with it Outline a range of examples of successful IOT implementation by insurers If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 248 page of the InsTech website or email cpd@instech.co to let us know you have listened to this podcast. To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey.

This week we’re back talking to Synergy Cloud - it's about claims - and Matthew Grant is talking to Tom Burroughs, Chief Technology Officer, the intrapreneur within the parent company Claims Consortium Group creating a new product and a new business. We cover a range of topics relevant to anyone building or using software, not just in claims, including: What insurance can learn from the travel industry How to build technology in collaboration with the customer It plugs but does it play? Tips for finding the best integrations tools for your product Designing with your customer’s customer in mind Digital collaboration today in a post-pandemic world To learn more about what you should value when you are developing software, podcast guest Tom recommends the Agile Manifesto. If you enjoyed this episode and want to keep listening, we recommend Episode 166 with Jeremy Hyams, CEO of Claims Consortium Group. We’d love to know what you think about this episode - click here and add your thoughts to our LinkedIn post about it. If you like what you're hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn. Sign up to the InsTech newsletter for a fresh view on the world every Wednesday morning. To find out more about InsTech, our membership and offerings visit www.instech.co or contact us hello@instech.co Continuing Professional Development - Learning Objectives InsTech is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech podcast, you can claim up to 0.5 hours towards your CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: List some of the considerations made by product developers when selecting appropriate integration tools Explain the role of the customer in technology development and the importance of effective collaboration Summarise the benefits and limitations of digital collaboration for software providers If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 247 page of the InsTech website or email cpd@instech.co to let us know you have listened to this podcast. To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey.