In this discussion Leda Glyptis, Freddy Macnamara and Nigel Walsh start to discuss an article by the Financial Times: Insurance sector worried as insurtech start-ups cosy up to customers and wether InsurTech is a competition to the incumbent insurers.
They talk about the current and potential business models in the insurance industry, why price comparison plays a big role and take a look behind the scenes of Cuvva, providing by the hour car insurance. At last they talk about the prospects for the insurance industry which may result from short-term insurance business models.
The moderator of this panel is David M. Brear. He and his colleagues (Jason Bates and Simon Taylor) are the creators of Fintech Insider. A behind the scenes podcast on technology in banking.
Leda Glyptis PhD is a Director at Sapient. She focuses on providing digital business transformation consulting services, helping firms define and deliver the right mix of business strategy, technology, and marketing initiatives to create bottom-line results.
Freddy Macnamara is the founder and CEO of Cuvva. Cuvva is the UK’s first ever car insurance app that allows you to get fully insured on any car for as little as an hour.
Nigel Walsh is a partner at Deloitte Insurance and a mentor at Startup Bootcamp Insurance. He focuses on the current changes in the insurance sector, mainly digital transformation, end to end technology transformation and InsurTech.
In this discussion you’ll learn:
- Beginning of InsurTech part (01:06:30)
- Is InsurTech a competition to incumbent insurers? (01:07:30)
- Why haven’t we seen more radical change in insurance? (01:10:44)
- Why there isn’t a new full-stack insurer? (01:17:15)
- Is there a move towards helping customers to reduce risk? (01:22:50)
- Have aggregators commoditized products? (01:24:14)
- Does the disruption lead to a weird place? (01:31:25)
- What are the consequences of the segment of one? (01:33:00)
- How does Cuvva work behind the scenes? (01:37:50)
- Is there a connection between Cuvva and uber? (01:42:15)
- What is if Cuvva’s business model becomes the main stream? (01:42:50)
- What happens if self driving cars are the norm? (01:43:55)
- Where do you see car and other lines of insurance going? (01:46:00)
- End of discussion (01:48:26)
Watch and Listen
Original Source: FinTech Insider by 11:FS >> EP116 – INSURTECH. THE NEW FINTECH? DISCUSS. Original published on: NOVEMBER 2, 2016
Links and Resources
- Original source: FinTech Insider by 11:FS >> EP116 – INSURTECH. THE NEW FINTECH? DISCUSS.
- Mentioned article on Financial Times: Insurance sector worried as insurtech start-ups cosy up to customers
- Leda Glyptis on twitter @LedaGlyptis and LinkedIn
- Freddy Macnamara on twitter @_freddymac and LinkedIn
- Nigel Walsh on twitter @nigelwalsh and LinkedIn
- David M. Brear on twitter @, LinkedIn, on Twitter @FinTechInsider or @11FSTeam
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Karl Heinz (creator of InsurTechTalk)