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/
Ep 80 Matthew Shaw CUO of TMK: The most submissions for a decade
Ep 79 Neil Eckert and Trevor Carvey of Conduit Re: Big enough to be impactful but small enough to be nimble
Ep 78 Steve McGill: Building Excitement and Scale
Ep 77 Stephen Catlin & Paul Brand Convex: Being ready ahead of the market
EP 76 Keith Wolfe President Swiss Re P&C US: A complete view of the world's biggest market
Ep 75 Greg Collins CEO of Miller: A speedboat among supertankers
Special Episode: Introducing McKenzie Intelligence Services with founder Forbes McKenzie
Ep 74 Matthew Wilson Group CEO Brit: Pretending Brit didn't exist
Ep 73 Mitch Blaser CEO Mosaic: If you're a hammer everything looks like a nail
Ep 72 Colin Thompson Group CEO Nexus: Eat your own cooking
Ep 71 Ross Howard Global Executive Chairman of Lockton Re: Why knowledge is key and king
Special Episode: Bonkers or Brilliant? A fresh perspective on innovation from Insurtech Gateway’s Robert Lumley and Stephen Brittain
Ep 70 Greg Hendrick CEO Vantage Group: Being what the market will let us be
Special Episode: Introducing Supercede with founders Jerad Leigh and Ben Rose
Ep 69 Pina Albo CEO Hamilton Group: The wait is over
Ep 68 Steve Hearn CEO Corant Global: One broker, many brands
Ep 67 Charles Mathias Group CRO Fidelis: A market not lacking capital, but profit
Special Episode: Introducing Worry + Peace with founder James York
Ep 66 Nick Cook BMS: A Bullish time to build
Ep 65 Matthew Moore President Liberty Specialty Markets: Working for mutual advantage
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
NABOR® TALKS
U.S Property Podcast
Aligned Money Show
The Ramsey Show
Planet Money