Ben Ruddle, Senior Principal: Publicis Sapient: Beyond Beige - The untapped potential of underserved niches (297)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 7 April 2024

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

Robin Merttens is joined by Ben Ruddle, Senior Principle in Strategy at Publicis Sapient, to discuss how technology can help insurers cater to customers outside the typical insurance model. The discussion covers the concept of 'Beyond Beige,' focusing on the opportunity to serve individuals and businesses with unique or specialized needs that standard insurance products don't cover. Key talking points include: The rise of comparison sites What is ‘Beyond Beige’ - the opportunities in the market Publicis Sapient's expansion into insurance Addressing the issue of underserved markets If you like what you're hearing, please leave us a review on whichever platform you use or contact Ben Ruddle or Matthew Grant on LinkedIn. To find out more about InsTech, our membership and offerings visit www.instech.co or contact us [email protected] 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: Specify why comparison sites are not helpful to the customer and their insurance journey Define what markets are typically underinsured and why Identify how incumbents can utilise technology to help better serve niche markets 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 297 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	everybody in the UK now is buying through price comparison sites. And in other parts of Europe,
0:06.9	comparison based brokers are becoming much more common, which is encouraging really standardized
0:12.3	products where the insurers are basically competing only on price. So although there's
0:17.9	the illusion of choice, so if you're a customer who's in the mainstream,
0:26.5	you might appear to have 100 to 150 different offers for your car insurance, but realistically,
0:31.6	they're all materially the same. So that's what we call beige. You're basically just being offered 100 different shades of beige at different prices.
0:45.3	Good morning, good evening. Welcome wherever you are.
0:46.3	Matthew Grant here, handing over us Robin Merson shortly.
0:48.3	Now, Robin is talking to Publissus Sassapion about the company's expansion into insurance from its origins in banking, retail and
0:55.1	travel. You're going to hear about some of the technology now available to help underserved
0:58.9	and under-insurance markets and personal lines and small business. Well, if you haven't already
1:03.0	discovered INSDEC and how we can help you learn about the key themes impacting insurance and technology
1:07.3	today, and I do recommend you take a look at www.w.com to see how we can help you,
1:13.0	whether you are an insurer looking for your next business partner or a technology company that
1:16.9	wants to share its stories with the world. Now, over to Robin.
1:25.6	Hello, everyone. It's InterTech podcast time again. And I've got Ben Ruddle with me. Ben is the senior principal and the insurance team at Publicist Sapient. Ben, welcome.
1:35.3	Nice to see you again. So tell us a little bit about the role and how long you've been there and so on.
1:40.7	Yeah, sure. So eight months at Publicist Sapient, which isn't that long, but I come from a background of strategy
1:45.7	consulting and then actually just hopped over from five years over at Hastings Direct where
1:50.5	I headed up our strategy function.
1:52.6	Some may know what Public Sapient does.
1:54.8	My description would be it's a global digital transformation consultancy.
	...

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