Today’s guest is someone with a long history of implementing technology into the Insurance Market.
Bart Patrick, Managing Director, Europe for Duck Creek really understands the demands of the industry and the sometimes fractious and strained relationship with technology that it has had over the years.
Well all of that is changing and this discussion is all about how that is going to come about.
With the advent of cloud computing the industry finally has an opportunity to leave technology to the experts and simply get on with doing what it does best – market, transact and execute innovative insurance deals.
In this brave new world, the software and systems we use are becoming simply a utility that we can avail ourselves of and don’t have to own and maintain anymore.
What’s more the best platforms can now allow us to configure them in the way we want to work and let us plug in any of the tools we want to use to help us do our jobs better and compete in the marketplace. This is what people are describing as an ecosystem.
But transitioning away from legacy systems that are in fact many systems all bolted together is not easy, particularly if we have limited budgets and the massively important requirement that nothing falls over while we are making the switch to the new way of working.
Technical debt is the difference between what you should be spending on innovation and the amount of money you are spending on just keeping the old inefficient systems running.
This talk explains how to get out of this debt.
My role in this discussion is to be the layman with insurance knowledge and make sure Patrick doesn’t get bogged down in technical jargon.
Luckily Patrick is a great explainer who knows how to talk to insurance people.
I recommend this podcast to anyone wanting to gain a broad understanding of what our legacy industry tech problems are, where the future lies and more importantly, how we are going to get there.
Many thanks to Duck Creek Technologies for their support today.
Find out more at: https://www.duckcreek.com/
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Ep 95 Jean-Paul Conoscente CEO Scor Global P&C: True partnership isn‘t about being accommodating
Ep 94 William Spiegel Executive Chairman R&Q: Prospering as the insurance ecosystem comes apart
Ep 93 Simon Matson of Gallagher and Tom Wakefield of Gallagher Re: A deal made by customers
Ep 92 Andreas Berger Swiss Re Corporate Solutions: Start early and do it quickly
Ep 91 Bob Kimmel CEO of K2 Insurance Services: On the hunt for talent and capacity
Special Episode: What the Polish market wants, with Michał Chmielewski and Tomasz Libront of Smartt Re
Ep 90 Javier San Basilio of Mapfre Re: Not opportunistic by definition
Ep 89 Jeff Radke CEO Accelerant Holdings: Searching for gems & avoiding landmines
Ep 88 Monica Cramer Manhem, President, International Reinsurance SiriusPoint: Using all the tools in the box
Special Episode: The Future of Underwriting with James Slaughter and Silvi Wompa Sinclair
Ep 87 Rod Fox & Rob Bredahl of TigerRisk: Don’t stop me now
Ep 86 Philip Smaje and Marcel Chad of Piiq Risk Partners: Specialty risks need specialty brokers
EP 85 Clive Washbourn CEO Navium: The market is always good
Ep 84 Keith Harrison International CEO Lockton Re: Going head to head with the bigger brokers
Special Episode: State of the Market Roundtable with Greg Hendrick, Marc Adee and Andrew Robinson
Ep 83 The $60bn broker: Olga Collins CEO Worldwide Broker Network (WBN)
Special Episode: The Power of Purpose with Steve Hearn CEO of Corant Global and Delta V Partners
Ep 82 David Bearman CEO Aventum: Don’t walk into a crowded room
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