InsTech London Podcast
Making the Financial Director’s life easier - Phinsys at the Lloyd’s Lab (45)

Making the Financial Director’s life easier - Phinsys at the Lloyd’s Lab (45)

September 15, 2019

The finance teams in insurance companies often struggle as much as others when it comes to bringing together multiple sources of data, and identifying key business metrics. Improving efficiency is one of the foundations of the "Future of Lloyd's" strategy and the 3rd cohort in the Lloyd's Lab brings together scale-ups rather than start-ups.

Phinsys, founded in 2010, was chosen because of its record in providing systems to speed up and improve reporting capabilities to leading insurers.

In this week's episode Matthew is back in the Lab talking to CRO Stuart Conibear and Marketing Director Ian Jones about what the company does, why they joined the Lab, and their experience so far.  We also hear why Phinsys became a corporate member of InsTech London and what gets Stuart and his team to give up his evenings to join us at our events. 

We're delighted to bring you this podcast with the support of Insurance Insider. We know from experience that Insurance Insider readers are the first to hear about the latest global wholesale specialty and reinsurance breaking news. InsTech London listeners are eligible to download the latest issue of Insurance Insider free from http://campaigns.insuranceinsider.com/instechlondon/

To learn more about InsTech London, our members, and past and future events  find us at https://www.instech.london/

Link to Pedius, mentioned by Ian, here 

Bevis Tetlow CEO Imaginera. Reinsurance underwriter and technologist  (44)

Bevis Tetlow CEO Imaginera. Reinsurance underwriter and technologist (44)

September 8, 2019

Bevis Tetlow returned earlier this year to his roots in technology, joining Imaginera as CEO after having spent 13 years as a reinsurance underwriter for Hiscox. Prior to leaving Hiscox, Bevis was chair of North American underwriting for Bermuda and London operations of Hiscox Re, as well as Head of Underwriting Systems. 

The debate continues about whether insurers can evolve and innovate on their own, will become increasingly reliant on third parties for new ideas, or perhaps even disappear. Matthew talks to a former colleague from the early days of catastrophe modelling about what reinsurers really need, how to give it to them and what blind spots still remain for property reinsurers. Bevis reveals that despite 30 years since catastrophe models first emerged there are still lots of opportunities for companies that have data to solve problems for re/insurers that the models still can't solve (fraud being one). 

Bevis signed up bespoke software developer Imaginera to build the reinsurance underwriting system for Hiscox. He has now hung up his underwriting pen to join founder Toby Crawford in expanding Imaginera's business in Bermuda and the UK.

More information on Imaginera here - http://www.imaginera.co.uk/

We're delighted to bring you this podcast with the support of Insurance Insider. We know from experience that Insurance Insider readers are the first to hear about the latest global wholesale specialty and reinsurance breaking news. InsTech London listeners are eligible to download the latest issue of Insurance Insider free from http://campaigns.insuranceinsider.com/instechlondon/

To learn more about InsTech London, our members, and past and future events you can find us at https://www.instech.london/

Mark Geoghegan, Editorial Director, Insurance Insider (43)

Mark Geoghegan, Editorial Director, Insurance Insider (43)

September 1, 2019

Mark Geoghegan started his career as a broker in 1992 and has run Insurance Insider since 2008. In that period he has got to know all of the leaders in the London market and further afield. Over the years he has seen the industry try, but frequently fail, to adopt technology to try to mprove efficiency, decision making and the flow of information around the market.

Mark and his team are frequent visitors to our InsTech London evening events. In addition to reporting on the core insurance activities, and ups and downs of the market Insurance Insider also follow what is happening amongst the new entrants and the established re/insurers.  In this episode Mark talks to Matthew about the changes he has been seeing in recent years that are making him more optimistic that finally even Lloyd's, and the traditional specialty insurance market, is going to be able to fully embrace new opportunities in data, tech and analytics.

We also find out why the reinsurance market heads off to Monte Carlo in mid-september each year and a hint of the themes that will be being discussed in the next few weeks.

At InsTech London we have been keen readers of the Insurance Insider for many years, and so we are delighted that this episode also marks the first of the forthcoming series that is being sponsored by the Insurance Insider. 

As an InsTech London podcast listener you are now able to download a free copy of Insurance Insider here - http://campaigns.insuranceinsider.com/instechlondon/

Mark Geoghegan, and the Insurance Insiders' New York correspondent, Bernard Goyder, also feature on InsTech London podcasts numbers 17 and 30 respectively.

To learn more about InsTech London, our members, and past and future events you can find us at https://www.instech.london/

 

 

 

Adrian Jones, Head of Ventures & Strategic Partnerships, SCOR (42)

Adrian Jones, Head of Ventures & Strategic Partnerships, SCOR (42)

August 25, 2019

In this episode Matthew Grant talks to Adrian Jones who heads up Ventures & Strategic Partnerships at SCOR Global P&C, the #5 global reinsurer. 

Adrian's P&C Ventures team at SCOR invests in carriers, MGAs, and technology companies.  P&C Ventures, one of the more active VCs in re/insurance, is fully embedded within SCOR and invests in support of the core business. Adrian is also a well-known speaker and writer on innovation and technology in insurance via LinkedIn. 

To learn more about the growing InsTech London community of people from insurance, technology, start-ups, scale-ups and investors - take a look at www.instech.london

 

Insurers’ innovations: still just digital lipstick on a legacy pig? (41)

Insurers’ innovations: still just digital lipstick on a legacy pig? (41)

August 18, 2019

Paolo catches up with Matthew and Robin to check in on the summer's activity in tech, data and analytics. Are insurers finally making meaningful moves to being digital, or is it still mostly digital lipstick on a legacy pig?

The three InsTech London Partners talk about what's been grabbing their attention in August including Convex, Floodflash and Google Cloud and preview what's coming up next for InsTech London's autumn season.

Find out more at www.instech.london

 

 

 

 

 

The Describe Data team on Lloyd’s Lab & their D & O analytics tool (40)

The Describe Data team on Lloyd’s Lab & their D & O analytics tool (40)

August 11, 2019

Finding a new area of risk to model is a great way to get attention as an insurtech start-up, particularly when the founders have a deep history in insurance, analytics and technology. 

In this episode Matthew talks to the founders of Describe Data - Michael Crawford, Gerard de Vere and Mick Cooney about their experience of being on the Lloyd's Lab cohort 2. After day two Michael already realised that "it was going to be amazing". When we spoke they were coming up to the end of their time in the lab and they weren't disappointed by what they had been through. 

They built a prototype in 3 weeks for a product to help underwriters assess their D & O (Directors' and Officers' liability) risk. During their time at the lab they had 10 - 15 companies from Lloyd's engaging with them and finish the cohort with a strong pipeline of opportunities. 

The Describe Data team are usually based in Dublin, but travel to London frequently. Gerald De Vere is a founder member of Insurtech Ireland, which like InsTech London is a member of the Global InsurTech Alliance (GITA).

More information on our events and everything else we are up to at InsTech London at www.instech.london  

 

 

Google Cloud, Genasys, Xtract and Hitachi. Insurtech as Service: Part Two. (39)

Google Cloud, Genasys, Xtract and Hitachi. Insurtech as Service: Part Two. (39)

August 4, 2019

So what is Insurtech as a service? In these highlights from the second half of our 8th July event recorded in front of a packed room Matthew talks to Stewart Reeder of Hitachi (13:45) and three more of their partners, Damion Thompson Insurance Lead at Google Cloud,  Michael Flanagan, CEO and founder of Xtract (17:15), Craig Olivier, VP of tech stuff at Genasys (22.10).

We continue our discussion (from podcast 38) about how Hitachi identify which companies to work with and put in front of their insurance clients and how they assess them as fit for purpose to ensure ease of integration, and value add for their Insurtech partners.

Google sees a lot of data. The Google Cloud team don’t have access to that data, but they do see trends. 15% of the search terms each year are entirely new, and customers are becoming more and more inquisitive and impatient. Damion talks about Google Cloud’s start up programme and other ways of getting involved with them. More information can be found here or contact Damion directly via Linkedin.

Xtract is radically improving the FNOL (First Notification of Loss) process for quick reporting and rigorous assessment of the loss using telematics to enable the claims handler to get notified of a loss within 5 seconds of it happening. Michael and Stewart reveal how the two companies met and why and how they are working together.

Craig Olivier talks about what Genasys has done to be successful whilst operating in the competitive space of policy admin systems,  the benefit of having a REST API to enable full integration with Insurtech across the value chain and the work they are doing with Hitachi.  And how did they set up a third party claim solution in two days?

Thanks to Hitachi for sponsoring the evening. The first half of the event with more of Hitachi’s partners, as well as Munich Re and Kasko can be heard on episode 38

Full information on this and all our event, including a write up of the companies speaking, a full transcript and photos of the evening can be found on the event page on our website www.instech.london

Hitachi, Munich Re Digital Partners, Kasko, Shepherd and QBE. Insurtech as a Service: Part One.  (38)

Hitachi, Munich Re Digital Partners, Kasko, Shepherd and QBE. Insurtech as a Service: Part One. (38)

July 28, 2019

Another fast moving series of chats with more leaders from insurance, technology and data. In this episode, the first half of our 8th July evening at The SteelYard, Robin investigates how Hitachi (2:00), the 7th largest technology group in the world, is making it easier for established insurers to work with the emerging providers of data for trains, buildings and a whole lot more. Serif Otterburn, Business Development Manager, and Insurance Subject Matter Expert  “Everything Hitachi builds, from trains to medical equipment, requires insurance. A lot of insurers use historical data to calculate risk, but Hitachi is using its expertise in IoT to assist insurers to develop newer better risk models". Joining Robin and Serif are Chris Gill from QBE (7:50) and Stephen Chadwick from Shepherd (16:00).

Munich Re Digital Partners (22:00) are well known for supporting a whole range of new MGAs and technology companies with capacity and sometimes investment. We get a peek behind the kimono at how they are getting on. In the words of Mark Dennis, European CEO "We’ve met with about a thousand InsurTech start-ups in the last three years. To date, we have about twenty live and wish ultimately to work with about fifty. Our job is to provide the scalability to get them to market as quickly as possible as InsurTech services.

Kasko (34:20) was on stage at InsTech London 4 years ago at one of our earliest events, CEO Nick Sühr returns to talk about the work they are doing today with over 15 insurers providing plug-and-play ready solutions, enabling insurers to turn insurance products from idea or paper to digital in a few weeks.

The second half of this event follows in episode 39 with more from Hitachi and their partners.

For more details on the companies speaking at the event, and transcripts from all our recent events go to the dedicated event page 

See the last 2 years history of InsTech London events and profiles with many of our speakers and sign up for our newsletter at www.instech.london

Graham Elliott CEO & Founder Azur Underwriting (37)

Graham Elliott CEO & Founder Azur Underwriting (37)

July 21, 2019

Graham Elliott describes Azur as a "Managing Digital Agency" (MDA). He founded the business in 2015, providing High Net Worth insurance for clients of UK brokers, in partnership with AIG.

Matthew Grant and Graham talk about the challenges of becoming a full digital insurer and other topics such as offering quotes based on only 5 questions, sources of data and the role of brokers.  

You can learn more about Azur at https://www.azuruw.com/

And find out what we are up to at InsTech London at https://www.instech.london/

Robin reflects on DIA. Dan White of Ninety Consulting on innovation and company value (36)

Robin reflects on DIA. Dan White of Ninety Consulting on innovation and company value (36)

July 15, 2019

A double bill this week. Matthew talks to Robin about his experience of visiting the DIA Amsterdam conference this year with the highlights, lowlights and his meeting with the rising stars from insurtech in Japan.

Dan White, Managing Partner at Ninety Consulting talks to us about some of the themes emerging from their white paper "Examining the direct relationship between insurance innovation and company value"

We discuss topics such as why do insurers appear to compare so badly with other industries when it comes to innovation spend - is that real or just differences in the data? Which is better, lots of small innovation or a few large projects? And a lot more.

We are pleased to have Ninety Consulting as one of InsTech London's gold sponsors in 2019.

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