From underwriting to claims - taking the pain out of payments (202)

InsTech - insurance & innovation with Matthew Grant & Robin Merttens

InsTech

Business, Entrepreneurship, Investing

4.9 • 51 Ratings

🗓️ 7 August 2022

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

In the second of this two-part podcast with highlights from our live event Matthew Grant looks back on the conversations Robin Merttens had on stage with Andrew Passfield (ICE InsureTech), Freddy Macnamara (Cuvva), Daniel Poole (Cover Genius) and Adrian Davis (Stripe) at our recent London event, “Making Payments Pay: Making the Most of Payments Technologies”. Part one looked at why the method of making and receiving payments is critical to insurers and the evolving needs of customers. This part focuses on managing the movement and financial management of money, the benefits of flexible insurance and the integral role embedded and parametric insurance plays in payment provision. Talking points include: Understanding why getting payments right must be a strategic priority for insurers How to overcome the complexity of the insurance ecosystem which often leads to fragmentation, inefficiency, greater risk and delays Stripe’s payment technologies and use cases, including how it helped a delivery company earn over £100 million of additional revenue as a result of their technology systems and APIs How Tik Tok can generate underwriting returns and effective marketing strategies for insurers Who ICE InsureTech is partnering with and how its digital services are being integrated More InsTech content featuring Mastercard is available on the company’s member profile page. More InsTech content featuring Stripe is available on the company’s member profile page. 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 - Learning Objectives InsTech is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech podcast or reading the accompanying transcript, you can claim up to 0.5 hours towards the CII member CPD scheme. The Learning Objectives for this podcast are: List examples of payment technologies being platformed by software providers, with some use cases Summarise the processes that contribute to complexity within the insurance ecosystem Describe the role of parametric and embedded insurance in the processing of payments 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 202 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.

Transcript

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0:00.0	Well, in a world we are sailed by digital noise and gloomy stories, don't you think
0:15.2	there is something wonderfully charming about podcasts?
0:17.9	Okay, our new intro music helps set this home, but have you noticed how the
0:22.1	podcast you come back to are the ones that make you feel just a little bit better about life?
0:27.7	Well, welcome back, or if you've just found us, hello, and please do stick around. Matthew Grant
0:32.8	here, partner at Instac, but for today, I have a little more than a walk-on part because Robin
0:37.9	Merton's picked up the mic for the second half of our recent London event on payments, sponsored
0:42.4	by MasterCard and Stripe, and we've extracted the highlights for you for this episode. As we discussed
0:48.8	last week, there are some great stories about how companies are solving some of the critical
0:53.1	and messy problems with
0:54.9	making and receiving payments and with more examples this week. First up is Adrian Davis
1:00.7	from Stripe itself. Stripe, by the way, was founded in 2010, operates in nearly 50 countries,
1:06.6	accepts card payments from customers in over 200 countries and territories and has 7,000 employees.
1:13.0	You'll also hear from Andrew Passfield, CEO Issen-SureTech, Freddie McNamara, founder of car insurer cover,
1:19.4	Daniel Poole, VP of Strategic Partnerships from Cover Genius.
1:23.6	Okay, let's head to CodeNote and join Robin and his guests.
1:33.5	Thank you. Okay, let's head to Code Node and join Robin and his guests. I'm all concerned with helping manage the movement of money.
1:37.6	And I think that's why we're particularly interested in working in insurance.
1:41.7	What we're trying to do here is unify lots of complex systems, processes,
1:48.0	tech stacks, legacy tech stacks, in a way that provides a more coherent way of managing money
1:54.3	for our clients. For the benefit of all, all participants in the ecosystem, not just in terms
1:59.3	of better customer experience, of course,
	...

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