Insurance and recognizing the value of big chickens
While the shift from the physical world to the digital world has been in full swing for some time, a few industries, like insurance, have lagged behind. Back in 2014, we decided to change that and not only modernize the insurance industry but give online shopping platforms the opportunity to become the primary distributors of insurance at the point of sale.
In this interview with Michael Waitze, featured on the Asia Insurtech Podcast, our Co-Founder and Chief Innovation Officer, Chris Bayley, discusses how large eCommerce companies are leveraging their customer journeys to sell insurance and unlock the value of innovation in the insurance value chain.
Michael and Chris discuss;
The acceleration of InsurTech in recent years, one of the hottest sectors today. InsurTechs can help create a smoother customer experience and reinvent insurance distribution while insurance incumbents often lack the knowledge on how to implement and leverage technology, instead focusing on multi-million dollar transformation efforts and legacy system upgrades.
Chris’ insights into different forms of insurance distribution and the disruption InsurTechs, FinTechs and platform ecosystems are bringing to their industries. In his experience, insurers start handing over responsibilities to InsurTechs to set up neo-distribution and even handle claims management and focus only on the underwriting process.
Listen to the interview below