The next decade will not be incremental for insurance. It will be existential. In this episode of Scouting for Growth, Sabine VanderLinden sits down with Alex Taylor, Global Head of Emerging Technology at QBE Ventures, to unpack why the insurance industry is heading for its most profound transformation since the creation of Lloyd’s of London—and what corporate venture capital leaders must do now to stay ahead. Alex is a technologist by DNA, but his message is refreshingly grounded: technology alone doesn’t matter. What matters is what you do with it, how it is applied to real risk, and whether it delivers tangible value to customers and society. And 2023? Alex doesn’t sugar-coat it. For startups, it’s been a bloodbath. Capital tightened. Patience vanished. Hype collapsed. But here’s the signal hidden in the noise: the companies that survived are the ones that proved real value, not storytelling bravado. As we move through 2024, those survivors are starting to see daylight—and that’s where smart CVCs should be looking. Alex walks us through how QBE Ventures scouts for growth in this new reality: Fewer “nice-to-have” technologies More focus on risk relevance, resilience, and scalability A disciplined balance between personalisation and insurability Because there’s a line the industry cannot cross. As insurers get better at data, analytics, and hyper-specific risk profiling, we risk drifting into a world where we only insure what we know will not lose money. That may sound clever—but it undermines the very purpose of insurance. And without insurance? No risk-taking. No innovation. No economic progress. One of the most compelling parts of this conversation is Alex’s take on cyber risk and resilience. Ransomware, he argues, is no longer just an insurance problem—it’s an operational discipline problem. Something as unglamorous as air-gapped, hourly backups can radically change loss outcomes. This is where we see the future of insurance forming: risk identification + insurance + built-in remediation working together. Alex also highlights where the real “blank spaces” lie: Simplification of complex products Climate risk becoming dynamic, not static Emerging partnerships that blend data, prevention, and protection For corporate venturing teams, this episode is a wake-up call. The winners won’t be the ones chasing shiny tech. They’ll be the ones who understand: Which risks matter tomorrow How technology reshapes resilience And how to invest without breaking the social contract that makes insurance viable in the first place This conversation is essential listening if you are: Leading or building a CVC or innovation unit An insurer navigating climate, cyber, and systemic risk A founder building real solutions in a post-hype market An executive rethinking how insurance enables the economy itself Because the next chapter of insurance won’t be written by technology alone. It will be written by those who understand risk, relevance, and responsibility—and know how to turn all three into sustainable growth.