Gavin Spencer: Chief Insurance Officer, Parsyl: Insuring perishables - bridging the data divide (265)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 24 September 2023

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Parsyl is an integrated risk management and insurance solution for supply chains in food and health, which underwrites policies globally via its managing general underwriter in the US, its Lloyd’s cover holder and its Lloyd’s syndicate (Syndicate 1796). Robin Merttens is joined by Gavin Spencer, Chief Insurance Officer at Parsyl, to discuss how the company is able to establish its identity as a data-led insurtech and a Lloyd’s of London consortium. This episode touches on the importance of data in improving underwriting, growth and development of start-up businesses, as well as how traditional marketplaces can cooperate and collaborate with leaders of innovation. Talking points include: How Parsyl translates Math into English - the power of insights from data The low-hanging fruit model Lloyd’s, consortiums, syndicates and more Data Darwinism 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: Explain the definition of a data-led insurtech Describe the role data plays in business growth Identify the key collaboration techniques to get the most out of your business model 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 265 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

Click on a timestamp to play from that location

0:00.0	Good morning, good afternoon, wherever you are. Well, after a hot, late summer, it seems
0:12.5	appropriate. This week's episode is about a company where heat, too hot or too cold, can cause
0:17.4	a loss to the product is covering. Matthew Grant here, but Robin is at the
0:20.8	sharp end today talking to Gavin Spencer of Parcel. Now, this takes us back to the roots of
0:25.9	Instec when he launched the company to help startups share their views with the world.
0:30.0	Parcel represents many of the aspects that are behind the enthusiasm for the idea of InsureTech
0:34.1	back in 2016, data-centric, new solutions, a founder with a mission.
0:39.1	So it's no surprise that the company has survived and thrived. I spoke to founder, Ben Hubbard,
0:43.8	for episode 123. Robin picks up the story with Gavin to find out what happened next.
0:57.1	Gavin, hi, welcome to the Intertech podcast.
1:00.4	Robin, great to be here. Thanks for allowing us the time and inviting us on.
1:05.6	No, look, it's our pleasure. So you joined Parsall a year ago as chief insurance officer.
1:07.5	So where are you speaking from?
1:11.2	I'm currently in the East Bay of sunny San east bay of, uh, of sunny San Francisco.
1:16.4	And I can't quite trace your accent. You could be a Brit, but there's a bit of, I don't know,
1:21.1	a man who's lived abroad for a long time. Yeah, exactly that. I always say that marine insurance has given me the chance to travel the world. And the last 10 years or so, I found myself here in, here in the United States, principally in San Francisco, but before that, most certainly a Brit, born in East London.
1:31.2	Well, we call you a cotany, I think.
1:33.0	Dad would be very proud.
1:34.4	That's one question that occurs to me immediately before we get going.
1:37.6	So let's first tell everybody what you do.
1:39.2	You're the chief insurance officer, active underwriter of Syndicate 1796.
1:46.6	That first question obviously comes to mind to me is how can you be an active underwriter of a syndicate based at Lloyd's when you
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from InsTech, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of InsTech and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.