The more time we spend in this industry the more we learn that there is very little that is genuinely new.
Take the insurtech community’s recent discovery of the idea of embedded insurance.
To read some of the posts about this on social media, this is an idea forged in the white heat of technology and so recently-minted that it’s still hot to the touch.
Well, today’s guest puts that idea into considerable perspective.
Keith Meier is Chief Operating Officer of US-headquartered Fortune 500 insurer Assurant and has spent a career of over twenty-five years working in the business to business to consumer insurance space – or B2B2C as it is more often called.
Operating in 21 countries, there is almost nothing that Keith and Assurant don’t know about embedding insurance right into the heart of the product offerings of the world’s largest consumer brands.
So this is a very mature sector and what follows is a masterclass on how to succeed in this specialist niche of the industry.
Keith’s absolute customer-centricity will be a revelation to many listeners from the wholesale world.
What’s clear is this is a long-term business that needs the right cultural approach to work for all parties. You have to offer real value or you just won’t last.
But when it works, it really works. The insurer grows profitable business and service revenues, consumers get great service and added-value products and the consumer giants get new revenue streams and more loyal and better-quality customers.
What’s also clear is that technology is enabling this segment to be so much more responsive than it has been in the past, with new products configurable at scale in a matter of days and weeks at negligible cost.
That’s clearly the part that’s exciting the insurtechs – and the growth prospects are indeed considerable.
But here is one embedded incumbent who is way ahead and is going to be very, very hard to disrupt!
LINKS
We thank our naming sponsor AdvantageGo:
https://www.advantagego.com/
Ep 82 David Bearman CEO Aventum: Don’t walk into a crowded room
Ep 81 Ash Bathia CEO Probitas 1492: Driving your own destiny
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
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
NABOR® TALKS
U.S Property Podcast
Aligned Money Show
The Ramsey Show
Planet Money