InsTech - insurance & innovation with Matthew Grant & Robin Merttens

The Managing General Agent (MGA) model has become a successful way for many insurtech startups to establish themselves, but the subject of this week’s podcast is a bit different to other MGAs in the marketplace. Pen Underwriting was created by bringing together 12 companies in 2014. Its work covers claims, pricing, and distribution with more than £650 million in gross written premium per year. Chief Business Development Officer Nick Wright joins Matthew on Podcast 163 to explain how Pen Underwriting supports its partners and why investing in innovation is a key part of the company’s approach. Talking points include: Advantages of the MGA model Creating products for insurer partners Monitoring the market and looking outside of insurance The growth of parametric and usage-based insurance Using telematics to mitigate risk More information on Pen Underwriting is available from the company’s InsTech London member profile page. 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 London newsletter for a fresh view on the world every Wednesday morning. Continuing Professional Development - Learning Objectives InsTech London is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech London 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 some of the benefits of innovation in insurance Understand what is unique about MGAs and some of their advantages  Determine how telematics can be used to mitigate risk If your organisation is a member of InsTech London and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 163 page of the InsTech London website or email cpd@instech.london 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 bringing you the highlights and key insights from our property risk event at The Steel Yard in London. ‘Property Risk - What’s New and What Works?’ brought together experts in flood forecasting, digital twins, rebuild costs, remote assessment and more, to discuss new data and analytics solutions that are helping insurers understand the physical characteristics and risks of properties. The episode begins with Robin in conversation with Todd Rissel, Chairman and CEO of event sponsors e2Value, and is followed by interviews with:  Mark Cunningham, WhenFresh Olivia Iltcheva, Convex Anthony Siggers, Archipelago Jonathan Newbery, Zurich and Jonathan Jackson, Previsico Jay Gentry, SafeGraph Bob Frady, HazardHub (acquired by Guidewire) Anthony Peake, Intelligent AI Laurent de la Porte and Antonin de Benoist, Allphins Talking points include:  What is important for insurance companies when looking for property-related data What information has been hard to get, but is now available How information for the US varies from the UK What are some of the major sources of data from outside of the insurance industry What are some of the data hubs and platforms now being used If you would like to hear more about the work our guests and their companies are doing, click the links above to visit their respective InsTech London member profiles. Further podcast episodes are also available featuring Todd Rissel (Podcast 153), Mark Cunningham (Podcast 111), Archipelago (Podcast 145), and Bob Frady (Podcast 135). 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 London newsletter for a fresh view on the world every Wednesday morning. Continuing Professional Development - Learning Objectives InsTech London is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech London 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: Understand the potential for data to transform the understanding of property risk for insurers Explore some of the existing platforms and solutions available  Identify the factors that insurers should consider when selecting a property data partner If your organisation is a member of InsTech London and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 162 page of the InsTech London website or email cpd@instech.london 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.

Liberty Mutual Insurance is a global insurance company that embraces innovation, with a strong track record of building successful partnerships with technology companies. Matthew talks to Brendan Smyth, SVP, Global Risk Solutions Innovation, and Premal Gohil, Head of Innovation Partnerships & Investments, to understand how Liberty approaches innovation projects and works with third parties to understand new insurance trends.  The episode also includes advice for start-ups on how to approach insurers with new ideas and what Liberty is looking for from potential data and technology partners.   Talking points include: How to create a culture of innovation Balancing innovation projects with day-to-day business Building successful commercial partnerships The importance of ecosystems and efficient integration Comparing insurance innovation - differences between the US and Europe Premal’s article, 5 Tips for ensuring Startup-Corporate collaboration success, is available to read on LinkedIn. More information on Liberty Mutual Insurance is available on the company’s InsTech London member profile page. 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 London newsletter for a fresh view on the world every Wednesday morning. Continuing Professional Development - Learning Objectives InsTech London is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech London 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 some of the impacts of innovation and its importance in the future of the insurance industry Discern the roles required for successful innovation partnerships Understand how incumbents and start-ups can work together and learn from each other If your organisation is a member of InsTech London and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 161 page of the InsTech London website or email cpd@instech.london 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.

Robin is joined by Concirrus CEO and Co-founder Andrew Yeoman on Podcast 160 to discuss how commercial insurers are beginning to use algorithms to support underwriting decisions. The conversation covers the findings from the InsTech London report, A Practitioner's Guide: Algorithmic underwriting in commercial and specialty insurance, which examines where industry adoption is right now and what’s needed to move the technology forward. Andrew shares his insights on the potential of algorithmic underwriting, plus practical examples of how Concirrus is using algorithms to identify marine risks and build dynamic pricing models.  Talking points include: How underwriters are using algorithms The challenges to wider industry adoption Predicting behaviours through technology ‘Digital fracking’ and the importance of structured data Automation as a journey and where we are on it The balance of AI and human input A Practitioner's Guide: Algorithmic underwriting in commercial and specialty insurance is available to download from the InsTech London website. For more information about Concirrus, take a look at the company's InsTech London member profile page.  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 London newsletter for a fresh view on the world every Wednesday morning. Continuing Professional Development - Learning Objectives InsTech London is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech London 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: Understand how algorithms are being used to build dynamic pricing models Recognise how algorithmic approaches support underwriting decisions Distinguish how structured data improves the efficiency of underwriting algorithms To continue learning about commercial insurance, visit the Concirrus profile page on the InsTech London website. If your organisation is a member of InsTech London and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 160 page of the InsTech London website or email cpd@instech.london 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.

Atrium Underwriters has been operating in the London market for almost 100 years and has established itself as one of the most forward-thinking insurers when it comes to innovation and new technology. Underwriters Simon Lewis and Matt Greaves join Matthew on Podcast 159 to discuss where that drive for innovation comes from. The conversation covers how Atrium assesses ideas and products for new opportunities like crypto, using technology to speed up claims and reduce costs, and how it supports start-ups through the Lloyd’s Lab and Product Innovation Facility (PIF) at Lloyds.  Talking points include: Aligning innovation with day-to-day underwriting Building an innovation culture Assessing viability and accepting “fast fails” Using natural language processing (NLP) to review claims Collating location data for catastrophe risk underwriting 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 London newsletter for a fresh view on the world every Wednesday morning. Continuing Professional Development - Learning Objectives InsTech London is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech London 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: Understand some of the opportunities that innovation can bring for insurers Recognise how insurers are supporting start-ups and the potential costs and benefits Compare some current forms of innovation and the impact they are having on the underwriting process If your organisation is a member of InsTech London and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 159 page of the InsTech London website or email cpd@instech.london 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.

For underwriters, time spent searching for information is time lost to underwriting. Terrene Labs, acquired by FRISS in April 2021, aggregates third-party data sources to help underwriters focus on the core of underwriting rather than the chore of data collection. The acquisition will expand FRISS's range of underwriting insights beyond risk detection analytics. Matthew speaks to Piyush Singh, CEO of Terrene Labs, on podcast 155 to discuss why he left his senior role to launch a start-up, how Terrene Labs built its client base and why his business was acquired by FRISS. Listen now to learn about: The importance of classifying businesses accurately How to find out a lot about a company from just four questions How the insurer can become an expert advisor to its customers The unusual data that can impact risk pricing that insurers don’t usually look at The opportunities in small commercial lines insurance in the US 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 London newsletter for a fresh view on the world every Wednesday morning. For more information on FRISS, go to friss.com Continuing Professional Development - Learning Objectives InsTech London is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech London 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: Realise how technology sales can happen in insurance and how this has changed in the pandemic Understand how businesses can be categorised and what happens with the data Recognise how data collection can be automated and the hurdles to overcome To continue learning about the essential data for underwriters, read our insight 50 free insurance data sets you'll need. If your organisation is a member of InsTech London and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 155 page of the InsTech London website or email cpd@instech.london 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.

Podcast 158 features the highlights from Part 1 of our first live event back at The Steel Yard in London and is packed with advice for start-ups looking to grow and future founders. Ed Leon Klinger (Flock), Oliver Brew (CyberCube), Andre Symes (Genasys Technologies), and Jonathan Spry (Envelop Risk) returned to the InsTech London stage to discuss their experiences of the journey from start-up to scale-up. They shared their insights with Matthew and Robin on surviving the ups and downs of early-stage growth and building successful products, right through to securing hundreds of millions of dollars in investment funding and much more.  Talking points include: Market analysis and how to spot opportunities Focusing on your USP and building the right team The importance of data and how to get it from clients The benefits of ecosystems and harnessing new technologies  Insurtech disruption vs insurer partnerships If you would like to hear more from the speakers and companies involved in the event, you can listen to separate podcasts with Ed (Podcast 126), Andre (Podcast 106) and CyberCube CEO Pascal Millaire (Podcast 120). Jonathan shared his insights on how to build a successful technology enabled MGA on Podcast 142. Part 2 of the highlights from the event, featuring interviews with the founders of four new arrivals on the insurtech scene, will be available in a future episode of the InsTech London podcast. 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 London newsletter for a fresh view on the world every Wednesday morning. Continuing Professional Development - Learning Objectives InsTech London is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech London 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: Hear from established companies on the challenges facing start-ups and the key to ensuring their survival Realise the importance of data for start-ups and where to source it Compare some of the ways a start-up can build a team If your organisation is a member of InsTech London and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 158 page of the InsTech London website or email cpd@instech.london 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.

Health insurers have been on the front line of the COVID-19 pandemic. They have had to get to grips with the new peril of the COVID-19 virus, experience changes in demand and plan for the long term while adjusting to lockdowns and home working. Mark Allan, Commercial Director UK Insurance at Bupa, joins Robin to discuss Bupa’s experience during the pandemic in the UK and what lies ahead. Talking points include: The challenges of being a health insurer during a pandemic The long term impact of COVID-19 Digitising customer access and engagement The challenge of legacy systems Today’s podcast is sponsored by Fadata. Fadata has been providing software to the insurance market for over 30 years. Its modern insurance process platform, INSIS, spans the entire insurance product lifecycle for life, non-life and healthcare insurance. You can find out more about Fadata at www.fadata.eu. 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 London newsletter for a fresh view on the world every Wednesday morning. Continuing Professional Development - Learning Objectives InsTech London is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech London 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: Understand some of the impacts the pandemic has had on health insurers Compare some of the ways that the pandemic has accelerated digitisation Recognise the potential of embedded insurance for health insurers To continue learning about the impacts of the pandemic on insurance, read our insight Covid-19 - Insurance innovation your time has come. If your organisation is a member of InsTech London and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 157 page of the InsTech London website or email cpd@instech.london 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.

Insurance Business Applications (IBA) has established itself as a genuine insurance innovator over the past decade, embracing new technologies to offer a full cycle property and casualty insurance platform in the cloud. Chief Commercial Officer Karina Buch joins Robin to discuss the company's origins and growth so far, why global insurers like Zurich and AIG are choosing to use its IBSuite platform, and the potential of both embedded and parametric insurance.   Talking points include: Why speed matters when building products Re-platforming vs greenfield development Covid-19 and the race to modernise The demand and attraction of embedded insurance Integrating external data for parametric triggers 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 London newsletter for a fresh view on the world every Wednesday morning. Continuing Professional Development - Learning Objectives InsTech London is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech London 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: Understand what a full cycle insurance platform is and some of its benefits Compare some of the differences between building a new platform or onto a preexisting one Realise some of the potential opportunities within parametric and embedded insurance To continue learning about platforms in insurance, read our report No-Code/Low-Code Platforms - A Bridge from Legacy to Digital? If your organisation is a member of InsTech London and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 156 page of the InsTech London website or email cpd@instech.london 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.

For insurtechs to flourish, companies need to match their innovative technology solutions with market opportunities and an understanding of how the industry works.  Some of the best innovation in recent years has come from combining new technology with deep insurance knowledge and experience, and this week’s podcast guest is a great example. Originally an underwriter, Niall Barton co-founded Wrisk in 2015 and has gone on to become one of the leading figures in the UK insurtech scene. Niall joins Matthew on Podcast 154 to discuss the growth of Wrisk, his experiences as a founder, developing insurance technology solutions, and building a business during Covid-19 lockdowns. Listen now to learn about: Changing careers and advice for aspiring founders   Crowdfunding and working with investors Building vs buying technology platforms Pivoting a start-up and embedded insurance opportunities The growth of the UK insurtech scene Wrisk was named as one of the companies to watch in our embedded insurance report, Insurance: to Embed, or not to Embed, which is available to download for free on the InsTech London website. You can contact Niall directly on LinkedIn to discuss insurance, technology or holiday homes. 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 London newsletter for a fresh view on the world every Wednesday morning. Continuing Professional Development - Learning Objectives InsTech London is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech London 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: Realise where insurtechs stand in the UK insurance industry  Understand how to begin solving a technology problem with a start-up Discern some of the different ways a start-up can obtain funding To continue learning about insurtechs, read our insight This is the next stage, not the end, of the insurtech promise. If your organisation is a member of InsTech London and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 154 page of the InsTech London website or email cpd@instech.london 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.