Deepak Badoni, President & Co-founder: EigenRisk Inc.: Complex catastrophe analytics made simple (312)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 21 July 2024

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

Ahead of our next July evening event in London, Matthew Grant caught up with Deepak Badoni, President and Co-founder of EigenRisk Inc - a one-stop shop platform for the industry to bring all the catastrophe risk analytics in one place. Join Matthew and Deepak as they discuss the role of technology platforms in simplifying catastrophe risk analysis for underwriters amid the start of the hurricane season. Deepak shares his journey of founding EigenRisk Inc., the challenges of building a one-stop platform for catastrophe risk analytics, the importance of simplicity in complex modeling, and the growing preference for buying technology solutions over building in-house. Key talking points: The start of EigenRisk - a one stop shop platform for the industry to bring all the catastrophe risk analytics in one place Building v buying - where do insurers stand? A solution for the entire industry Differences between building a product and building a business Finding the right modelers for the platform - the value of partnering A Costco for data See Deepak in London for ‘Climate and property blind spots revealed: making the right decision at the right time’ 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. 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: Describe the importance of customer feedback and SaaS models Specify methods for simplifying catastrophe risk management Identify how to building partnerships and integrating data successfully 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 312 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	Hello, welcome or welcome back. I'm Zoya, the INSETEC podcast producer and editor of our weekly newsletter.
0:15.0	This week, Deepak Bedoni, co-founder and president of Eugen Risk, speaks to Matthew Grant about the theme we are hearing regularly,
0:22.6	the role of technology platforms in simplifying catastrophe risk analysis for underwriters.
0:28.6	The hurricane season has just begun with a bang and Deepak will be over from the US to join us in person on Tuesday, 23rd July, at our evening event.
0:38.3	If you are interested in how insurers are dealing with climate variability year to year and longer term,
0:44.3	as well as practical technology solutions, then you'll get a lot out of the session.
0:49.3	If you're in London, registration is still open for the event, supported by eigenrisk and Riesk,
0:54.8	and free to insurers and members.
0:57.0	More information at www.instech.com.
1:01.1	Now back to Matthew.
1:08.3	Deepak, it's great to be talking to you, and many thanks for carving out some time from your holiday in South Carolina's to have a chat.
1:15.3	Thanks, Matthew. Very nice to reconnect with you after a while and talk about what's going on with us at idle risk.
1:22.4	And it's to start a hurricane season. We've just seen Hurricane Barrel coming in. I guess you're around the corner and tucked away, so hopefully not too windy off your holiday this week. No, thankfully,
1:31.7	Beryl has not had any impact here, but yeah, certainly we know a lot of our clients have been
1:37.6	concerned. It certainly created a stir in our industry. What's the sort of problem you're solving
1:41.7	for the insurance industry? So I would put it as we are providing a one-stop-stop platform for the industry to bring all the
1:50.2	catastrophe risk analytics in one place and really simplify how they deal with the problem
1:56.0	of catastrophic risk management.
1:57.8	I like it what you're doing is you're able to retain all this complexity and sophistication
2:01.9	of modeling, complexity in a good way, but you're allowed to give the users who don't necessarily
2:06.0	have the time or the inclination to go into all that complexity, a kind of dashboard or, as
2:10.3	you say, a one-stop shop to go and look at what they're doing.
	...

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