InsTech - insurance & innovation with Matthew Grant

Trevor Maynard: Head of Innovation, Lloyd's: New solutions, new markets & the future of Lloyd’s (59)

We've been hearing a lot recently about how Lloyd's of London is looking to harness innovation across many areas to expand the range of insurance it can cover, improve efficiency and find new ways to measure and reduce risk.

The Lloyd's Lab has become an important part of identifying companies that can help Lloyd's and the managing agents writing business there. In previous podcasts we've spoken to founders from companies that have taken part in one of the three cohorts.

For this episode Matthew finds out from Trevor Maynard, the person responsible for the Lab and overseeing innovation across Lloyd's, what the Lab offers and the other initiatives he is leading. Topics include:

• How the ten-week cohorts are structured
• Why and when Lloyd's selects start-ups, scale-ups and mature companies 
• The role of mentors from managing agents and the benefits seen from getting this direct access to the market
• The link between the Lab and the Future at Lloyd’s programme
• Building an innovation culture
• Horizon scanning and the Lloyd’s Product Innovation Facility

You can hear our discussions with previous members of the Lloyd's Lab that have participated in past cohorts in prior episodes: Oasis (32), Describe Data (40), Phinsys (45), Hyperexponential (52) and Praedicat (57)

The horizon scanning reports mentioned in the podcast are available from https://www.lloyds.com/news-and-risk-insight/risk-reports. All the information about the Lloyd’s Lab is available at https://www.lloydslab.com/.

We'll have more to come from the Lloyd's Lab in 2020, include a full evening hosted in collaboration with Trevor and his team. Keep up-to-date with all the latest news and view from InsTech London by taking a look at the regular updates of future and past events - and signing up for our newsletter - at www.instech.london  

Ryan Kottenstette: CEO & Founder of Cape Analytics: Geospatial imagery and aerial insights (58)

Ryan Kottenstette founded Cape Analytics in 2014 to help companies identify building characteristics based on aerial imagery.

Five years on and Cape has analysed 80% of the US population (in terms of physical property risk) with the resulting data being used to help price and manage insurance policies and reinsurance portfolios by over 30 companies. Today the company ranks as one of the best known technology companies in insurance to have emerged in the last few years.  

Ryan and Matthew's topics discussed:

• the challenges (and successes) he has seen when building a company
• using satellite, aircraft and drone data for more accurate pricing
• use of third-party data
• dealing with uncertainty
• the growth in "insurtech" and insurance innovation
• understanding wildfire risks through artificial intelligence
• approving new class plans and rate filings
• the importance of focussing on customer needs

If you want to hear more from Cape Analytics, they will be in London at the end of January and we are hosting a breakfast event for them. Details in the Instech London newsletter. 

You can stay up-to-date with all our 2020 events, plus find out how to become an InsTech London member, at www.instech.london.

Bob Reville: CEO of Praedicat: How to build a liability model (57)

Bob Reville founded Praedicat in 2011 and the company has gone on to create one of the most credible models for understanding emerging risks. 

The idea was born out of a research and development project, with Praedicat now using data science and AI to build products for some of the world’s largest insurers and global investors.

Matthew Grant finds out how Praedicat, which recently completed its time in Lloyd's Lab cohort 3, is helping insurers and others manage large scale liability risks, the impact of regulation and the threat to insurers from a new wave of litigation issues.

You can keep up to date with everything that is happening at InsTech London - past and present - by visiting instech.london. Sign up to our weekly newsletter for our weekly look at what we think is interesting and relevant.

The InsTech London podcast is supported by the Insurance Insider, who are offering our listeners a free copy. You can download the latest issue from insuranceinsider.com. 

 

Michele Williams: Head of XSE, Allianz Global Corporate & Specialty (56)

Allianz is one of the world's largest insurance companies, so how does an organisation that size stay ahead when it comes to innovation?

Matthew talks to Michele Williams, Head of Allianz Global Corporate Corporate & Specialty's central innovation unit XSE, to find out what the group is doing, and the areas of analytics and data they are interested in. Michele explains Allianz's strategy for producing new ideas - which are focussed around their clients' needs - and how they work with start-ups, scale-ups and technology providers.

Michele explains how Allianz's Trend Compass tool has become a central focus for looking at which directions the insurance market might head in. The tool is available for anyone on the Allianz website - https://tci.agcs.allianz.com/

To find out all that we are up to at InsTech London - including our growing corporate member list, and details of last two years events take a look at www.instech.london. Our events begin again in January 2020.

We're delighted to be bringing you this podcast with support from the Insurance Insider. For a free copy follow this link -  http://campaigns.insuranceinsider.com/instechlondon/

Platform & Ecosystems: Part Two - Axa, ICE InsureTech, DMS & RiskBook (55)

In our last episode we brought you the first half of our event on the 22nd October on Platforms and Ecosystems. We're back with the second part of the evening this time. Robin's on stage talking to four companies (three of whom are corporate members and one a start-up) all with very different approaches to providing access to data, analytics from third parties.

Kelly Ward, Sales, Marketing and Distribution Director, AXA Partners (2:10)

Andrew Passfield, CEO and Al Robertson, CTO, ICE InsureTech (9:00)

Mark Dreux, Head of Strategy and Business Development, DMS (16:00)

Jerad Leigh & Ben Rose, Co-Founders, RiskBook (24:00)

You can read the summary of the evening, see photographs from the event and the full agenda on the dedicated event page on our website at https://www.instech.london/past-events/emerging-ecosystems-and-platforms-for-insurance

And check out all our podcasts, events and future activities at www.instech.london

 

 

Platform & Ecosystems: Part One - Novidea, Salesforce and their partners (54)

Platforms are emerging as one of this year's top topics for insurance and technology - and we are going to hear a lot more about them in the next year. Start-ups have been finding it hard to get the attention of insurers, and experience is showing that most insurers are not really set up to nurture early stage companies. Insurance technology platforms provide a way for insurers to more easily access data, analytics and the related services they need to improve efficiency and engagement - and for technology companies to get to insurers. Our event on 22nd October at The Steelyard featured companies talking about their platforms and their ecosystems. In this, the highlights from the first half of the event, Matthew is on stage with our sponsors Novidea, their platform Salesforce and their ISVs (Independent Software Vendors) Conga and Financial Force. 

You can read our summary of the whole event on the dedicated page on our website - and see photos and details of all the speakers. Look out for the remainder of the evening that included Guidewire, ICEinsurtech, AXA, DMS and RiskBook.

We're delighted to be bringing you this podcast with support from the Insurance Insider. For a free copy follow this link -  http://campaigns.insuranceinsider.com/instechlondon/

 

Mark Bates: CEO and Founder of RDT: 50 million server calls a day (53)

Not every innovative, fast-growing technology company in insurance is a start-up. RDT was founded in 1991, but Mark Bates has the energy, enthusiasm and tech driven vision more commonly founded in early-stage companies. He's grown RDT to be one of the leaders in the UK providing the core underwriting platforms to 19 insurance companies and MGAs around the world. RDT is exploring new technologies such as voice, as well as creating its own consumer app. 

Matthew finds out how (and why) Mark founded the company,  what they are working on today and exactly why one of their clients is responsible for 50 million calls on the RDT server each day.

RDT is one of the many InsTech London corporate members. Find out more about what we are up to at www.instech.london

We're delighted to be bringing you this podcast with support from the Insurance Insider. For a free copy follow this link -  http://campaigns.insuranceinsider.com/instechlondon/

 

Amrit Santhirasenan: CEO & Founder of Hyperexponential - Modelling reimagined (52)

We're back in the Lloyd's Lab for this week's episode talking to Amrit Santhirasenan. Amrit, a qualified actuary,  founded Hyperexponential having become frustrated by the lack of available tools he could use to run his actuarial models. Previously head of pricing and analytics at Tokio Marine Kiln, Amrit founded Hyperexponetial (or HX) in 2017 and already has clients and revenue. Matthew finds out from Amrit how his time in the Lloyd's Lab Cohort 3 has been accelerating the company's success in finding supporters and clients in Lloyd's and beyond. 

Look out for our write up of this interview coming soon, and save time from taking your own notes by reading the transcript on www.instech.london (available a few days after our podcasts are released).

The Instech London podcasts continue to be supported by Insurance Insider, one of the best and fastest providers and insights of information for the global commercial, speciality and reinsurance markets. Get your free copy here --  http://campaigns.insuranceinsider.com/instechlondon/

Part two of the Insurers Reverse pitch - Allianz and Renaissance Re (51)

One of our most lively and most popular events so far - in this, the second half of our "Reverse Pitch" event from The Steelyard that we held on 24th September, Matthew Grant is on stage talking to Hayley Maynard, Chief of Staff to the CUO of Allianz ACGS and Karl Stanley VP Technology Ventures, Renaissance Re. Two great guests from two of the world's biggest insurers. 

You can find out highlights from every speaker on the night - and what help they are looking for - on the event section of www.instech.london

Enjoyed this? If you haven't found the first half yet - it's Episode 49. 

Please do drop us a line if you like what we are up to - or what to know how you can get involved with InsTech London (made in the UK but connecting globally) to Hello@Instech.london.

And we are still offering our Insurance Insider free copy - more details here  -  http://campaigns.insuranceinsider.com/instechlondon/

Rob Galbraith; Director of Innovation at AF Group, author, prophet and business lubricant (50)

We were delighted to be able to find some time with Rob Galbraith whilst he was over in London recently. Rob is well known for his commentary on insurance, insurtech and all things related.  Join us to find out why Rob, author of the recent insurance bestseller "The end of insurance as we know it", has been called "the most interesting man in insurance" and "the WD40 of insurance".  Matthew and Rob compare notes about the latest issues in insurance and technology, mutual friends, finding information and other hot topics from around the world. (Note - since we recorded this, Amazon lowered their UK price of Rob's book in line with the US price)

This is a special mid-week release. Too much to talk about and not enough time! 

Check us out at www.instech.london.

And not forgetting the free Insurance Insider issue to all our listeners. Download it from http://campaigns.insuranceinsider.com/instechlondon/