Mike Hobday, CEO: Insurants: Falling in love with document processing (322)

According to Mike Hobday, CEO of Insurants, the company is “a bit like being the Google Translator of the commercial insurance market”.

Insurants is developed by Antworks in collaboration with Marsh McLennan to help commercial insurance companies manage and process their documents.

This week, Matthew caught up with Mike, who previously having spent 12 years at IBM, witnessed early AI automation with the likes of Watson, through which he fell in love with document processing. At Insurants, Mike is bridging the language barrier (so to speak) between data that flows between brokers and carriers.

Key talking points include: 

• The importance of summarisation - courtesy of the InsTech AI bot intern
• Falling in love with document processing - Mike’s career journey
• What is the current problem with document processing in insurance
• The Periodic Table
• Insurants accuracy - working with Marsh
• Commonality between insurance and the left side of the brain
• Moving business back to the UK
• Vital advice for small carriers and brokers

If you like what you’re hearing, please leave us a review on whichever platform you use or contact Mike Hodbay or Matthew Grant on LinkedIn.

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Continuing Professional Development

This InsTech Podcast Episode is accredited by the Chartered Insurance Institute (CII). By listening, you can claim up to 0.5 hours towards your CPD scheme.

By the end of this podcast, you should be able to meet the following Learning Objectives:

• Explain the issues with document processing in the insurance industry and why automation is the solution.
• Identify different types of documents used in insurance and their purpose.
• Summarise ways in which a carrier can integrate a document processing AI system into their workflow.

If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 322 page of the InsTech website or email cpd@instech.co to let us know you have listened to this podcast.

To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey.