InsTech - insurance & innovation with Matthew Grant & Robin Merttens

With the increasing choices that insurers have of data sources to identify property characteristics, choosing the right level of detail and certainty is essential. This week Matthew travels virtually around the world to talk to Tony Agresta, EVP and General Manager of Nearmap and Dr Michael Bewley VP of AI and Computer Vision. Topics covered include: Achieving 3-D imagery and creating virtual images of property to walk around Differences between aerial imagery from aircraft compared to satellites Working with partners The future opportunities following the Thoma Bravo acquisition 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 leave a post on Linkedin 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 or reading the accompanying transcript, you can claim up to 0.5 hours towards the CII member CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: Describe some of the advantages using aerial imagery from aircraft has, as opposed to satellites. Define what makes a partnership compatible and the benefits of collaboration Summarise how to best use data to make it useful to 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 236 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 so much data now available from above us and around us to help understand properties, how should insurers, governments and others know which is the most reliable to use - and importantly - how to deal with the uncertainty and sometimes conflicting opinions? This week Matthew Grant is talking to Rachel Olney, Founder and CEO of Geosite. Join us to discover: The key problem Geosite is solving for insurers and others How Rachel discovered that insurance offered the biggest opportunity to launch a new business Lessons from working with the US Department of Defense Why does “accuracy” mean different things when identifying building locations depending on the hazard? What are the top three attributes founders need to be successful? 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 leave a post on Linkedin 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 or reading the accompanying transcript, you can claim up to 0.5 hours towards the CII member CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: List some of the opportunities the insurance industry presents for start-ups Describe some of the key differences between organisations when it comes to decision-making Identify the different solutions to some of the biggest challenges insurers face 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 235 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.

We hear a lot about insurance protection for major catastrophes, but losses from frequent, local events now cause as much damage as the larger disasters that make the news. But insurance coverage is lagging behind leaving insurers and enterprises exposed to loss with no insurance protection. The Demex Group, a spin-out from reinsurer Munich Re is offering parametric cover to fill that insurance gap. This week Matthew Grant and Henry Gale are talking to President & CEO Bill Clark and Chief Risk Officer Matt Coleman, both of whom bring deep industry expertise to Demex. Topics include: Why traditional insurers and reinsurers are reducing their insurance cover for weather risks The impact of climate change on frequency and severity Why brokers are supporting the Demex offering The problem of lack of insurance and the “stub period” Understanding hyper localisation 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 leave a post on Linkedin 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 or reading the accompanying transcript, you can claim up to 0.5 hours towards the CII member CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: Describe some of the disadvantages climate change is having on the insurance industry  List some of the benefits of small-scale insurance cover Explain how the use of hyper-localisation can increase business efficiency 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 234 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.

Digital innovation is creating new opportunities to support customers and create efficiencies for claims handling. Oliver McGuinness, CEO of RightIndem, and Tim Rankin, Managing Director of AA Accident Assist, join Robin Merttens to discuss how the two organisations are working together. Talking points include: How RightIndem has evolved since being launched in 2016 with a new founder and new focus The opportunities presented by Electronic First Notification of Loss (EFNOL) Advances in claims for motor and auto The role of "estimatics" 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 leave a post on Linkedin 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 or reading the accompanying transcript, you can claim up to 0.5 hours towards the CII member CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: Summarise some of the opportunities that digital claims handling can create Describe a range of the key points and considerations in evolving a business Identify how new digital tools such as estimatics can enhance the digital claims experience 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 233 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.

Oliver Werneyer launched his first business aged 16 and later went on to launch Imburse when he discovered the true cost to insurance companies of collecting premiums and paying claims. Another fascinating story about building a business, identifying opportunities and building confidence with clients. Imburse is the glue and pipeline between insurers, their clients and payment providers. Join Matthew and Oliver as they cover topics including: How to find a problem to solve - then build a business Revealing the true cost of inefficient processes - and fixing them Gaining confidence and credibility with insurance buyers Why the regulator is your friend Why Imburse built its technology in-house The importance of partnerships 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 leave a post on Linkedin 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 or reading the accompanying transcript, you can claim up to 0.5 hours towards the CII member CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: Explain some of the advantages using in-house technology creates Describe the importance of maintaining processes for business efficiency Identify the significance of building a strong network of partners 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 232 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.

We’re covering two main themes here - building a business that survives and thrives after ten years - and assessing the growing risk from a flood. We’ve been working closely with Fathom for many years. In Matthew Grant’s discussion with the co-founders of Fathom, you’ll discover topics such as: The advantages of building a business with close links to a university How increases in the resolution of data and increased computing power have fundamentally changed flood modelling in 10 years Why and when co-founders should bring in an external CEO Why insurers are better at understanding risk than many other industries How to represent uncertainty in decision making River gauges and aerial images - creating credible data sources to plug the information gaps Working with partners such as Reask If you enjoyed this, we recommend Episode 220 for more information about Fathom, Reask and climate assessment. 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 leave a post on Linkedin 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 or reading the accompanying transcript, you can claim up to 0.5 hours towards the CII member CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: Describe some of the advances in data and analytics that are enabling the development of global flood models Identify when co-founders should consider bringing in a CEO Summarise how insurers compare to other industries in assessing 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 231 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.

Eigen Technologies provides natural language processing (NLP) technology to clients across multiple sectors. Chris Mullan, SVP of Product; and Tim Crowe, Director of Insurance Solutions, joined Robin Merttens on this episode to discuss how they help the insurance industry get access to all the insightful data trapped in the many bespoke, complex and rapidly changing documents that the industry relies on. Talking points include: Unstructured data and the inherent issues it causes in the insurance process The unique issues that arise from London’s Market reform contracts Past experiences of the insurance industry, including the overpromising of vendors and failure to deliver The role of AI, Machine Learning and how to accurately describe them How documents vary across geographies and the issues that creates. 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 leave a post on Linkedin 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 or reading the accompanying transcript, you can claim up to 0.5 hours towards the CII member CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: Describe some of the reasons it is imperative to maintain structured data and the issues that arise from unstructured data Summarise how past challenges have enabled future success Explain some of the pros and cons of using artificial intelligence and the vital role it plays in the digital world  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 230 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 Matthew Grant is talking to Nigel Walsh, Managing Director of Insurance, Google Cloud. You'll find out why Google launched its recent “start-up” - Google Cloud - growing in excess of 36% quarter to quarter. Nigel is well known for his love of insurance and engagement across a whole range of innovative topics - and his annual predictions. He relocated to the US from the UK last year so we get a perspective of how attitudes, and technology, vary on both sides of the Atlantic. Topics include What’s changed since the phrase “Insurtech” was invented 7 years ago? What consumers really want? Don't mistake a clear view for a short distance Are insurers returning as investors with a fresh appetite for innovation? Predicting the future and scoring past forecasts 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 leave a post on Linkedin 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 or reading the accompanying transcript, you can claim up to 0.5 hours towards the CII member CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: Describe some of the advances in insurance operations since Insurtech came about and the benefits this has brought for insurance businesses. Identify the key trends when insurers decide to return as investors. Learn some of the techniques used to predict future business growth & success 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 229 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 are back talking to another leader from one of the largest insurance companies in the world. Liberty Mutual. Parul Kaul-Green is Chief Digital Strategy Officer for Liberty Specialty Markets. Parul is at the sharp end of driving innovation across many of Liberty’s businesses as the company moves to digital. Join us as Matthew Grant discovers how Parul is supporting Liberty’s underwriters and its clients including some of the following: All insurers are moving to become truly digital, but how does a Chief Digital Strategy Officer achieve that? Parul has a team around the world - how does she bring the underwriters and other business units along with her? What are the differences between “outputs” and “outcomes” and why is that important? Liberty’s three areas of focus: digital distribution, analytics and digital products Examples of companies that Liberty is working with If you like what you're hearing, please leave us a review on whichever platform you use or leave a post on Linkedin 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 or reading the accompanying transcript, you can claim up to 0.5 hours towards the CII member CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: Identify key roles a Chief Digital Strategy Officer must undertake to achieve a successful digital presence Describe some of the important differences between outputs and inputs and understand why it is imperative to differentiate the two Explain in further detail the advantages of using digital distribution, analytics and digital products when transitioning to becoming fully digital 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 228 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.

Cytora is well known in London and increasingly in the US too, as providing analytics for insurers - founded in 2014 and with some well-known clients including Allianz, Beazley and Markel - this is another company that’s made the transition from start-up to scale-up.  Richard Hartley is the Co-founder and CEO. In this episode you will discover why the company pivoted from its original premise of sourcing data to help with commercial underwriting pricing - to its new solution, which is making underwriters' lives better,  improving, as Richard puts it, how information glides through companies. You will also hear: How Richard and his team refocused the business when they realised that it's not the lack of data that is often holding insurers back, but too much data and data that’s hard to organise. When insurers should be making decisions to buy versus build their own technology Some of the differences between those of you in the US compared to us here in the UK. When it's better for hiring to go and find people with fresh ideas from outside the industry or tap into the experts from within  Which insurance company - and Cytora client - has a goal of getting 80% of its insurance submissions managed with straight-through processing - untouched by human hands And finally - you can’t do everything so how do you say no to your client? If you like what you're hearing, please leave us a review on whichever platform you use or leave a post on Linkedin 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 or reading the accompanying transcript, you can claim up to 0.5 hours towards the CII member CPD scheme. The Learning Objectives for this podcast are: Identify how to make important investment decisions regarding buying and building technology List some of the benefits a business can achieve by recruiting externally and compare this to using in-house expertise Describe some of the issues surrounding data and the challenges a business can face if there’s too much 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 227 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.