Andrew Yeoman: Co-founder and CEO, Concirrus: Real time insurance for a real time world (244)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 14 May 2023

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

Concirrus was founded in 2012 and has evolved to become one of the leaders in supporting marine underwriting through tracking ships and managing data. Today the company is expanding into a platform for multiple risk types and provides analytics into areas including aviation and liability. The goal is to make all underwriters as smart as the smartest underwriter in a company using AI tools. With his fourth appearance on the InsTech podcast and third dedicated interview, Co-founder and CEO Andy Yeoman explains to Matthew Grant the lessons and insights since founding the business. Topics include: Creating “decision optimizations solutions” and what they are How to make technology work better for underwriters What it means to move AI from a point solution to a platform solution Lessons from Silicon Valley to Silicon Roundabout When looking to the future, consider the “but for… Why insurers should study the designed instability of the F-35 fighter jet If you like what you're hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn. Sign up to the InsTech newsletter for a fresh view on the world every Wednesday morning. To find out more about InsTech, our membership and offerings visit www.instech.co or contact us [email protected] Continuing Professional Development - Learning Objectives InsTech is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech podcast, 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: Describe the different components of an optimisation solution and how to implement each one Identify the key advantages of using a platform system with AI instead of a single-use approach Explain the significance of advanced technology to create underwriting efficiencies 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 244 page of the InsTech website or email [email protected] 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.

Transcript

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0:00.0	Andy, great to have you back.
0:01.6	Now, you just mentioned that the last podcast you did from a pub, so I'm very sorry that we haven't got alcohol on tap here, but we are at least doing this face-to-face.
0:09.8	Great to see you.
0:10.8	We are.
0:11.2	Well, thank you.
0:11.6	Good to have you.
0:12.0	I'm a bit disappointed on the lack of London, for those that don't know. So we might not be able to be in Silicon Valley in drinking probably be a nice wine
0:24.6	out there, actually, but at least we are in the heart of the technology land.
0:27.9	So a little bit about Conspirus.
0:30.1	So you were founded back in 2012, your co-founder and CEO, known to most people for providing
0:37.0	your platform for Marine and probably even go so
0:41.1	far as to say you've revolutionised in some areas away underwriters have been using analytics
0:45.2	to monitor their exposures to Marine and Hull. But you've expanded since then. I would call you
0:52.6	one of my Survivor cohorts,
0:55.0	and that you've been around now for over 10 years,
0:57.5	and like many businesses,
0:59.1	evolve but being successful at bringing in revenue and clients.
1:03.2	So congratulations.
1:04.2	And welcome back.
1:05.0	This is your third podcast, I noted.
1:07.6	So glad you've had a chance to come back and talk to us again.
1:10.6	Well, it's always a bit of a mystery. What makes these things popular? I tried to do really
	...

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