Hemant Shah: Co-founder & CEO, Archipelago: Moving upstream - digitising and standardising customer data at source (145)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 4 July 2021

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Archipelago is aiming to improve the data shared between insurers and their corporate clients related to property risks. Archipelago is going directly to the original data sources - upstream from insurers to the risk manager and building owners. This is then collated and shared on a platform with brokers and selected insurers. Co-founder and CEO Hemant Shah, previously founder of catastrophe modelling company RMS, joins Matthew to discuss how Archipelago is improving risk reduction and better access to reliable insights between all parties. Talking points include: Finding the right problem to solve Building trust and sourcing data directly from customers Replacing spreadsheets and emails with technology The benefits of the network effect and collaborating with partners across the full value chain Launching a company remotely Archipelago was named as one of the companies to watch in our Location Intelligence 2021 report, which is available to download from our website. 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 London newsletter for a fresh view on the world every Wednesday morning. Continuing Professional Development - Learning Objectives InsTech London is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech London 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: Understand how property data can be sourced and updated Realise how data can benefit the insurer and insured alike Recognise some of the ways underwriters can utilise property data If your organisation is a member of InsTech London and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 145 page of the InsTech London 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	When an underwriting team gets a link, they can dive in and explore multiple years of high quality data sets on Archipelago about their customer, to trend analysis, all kinds of things.
0:12.7	Or they can just hit an integration and pull the data straight in and process it.
0:31.5	Good morning, good afternoon, good evening, wherever you are around the world.
0:34.2	Matthew Grant here, partner at INSEC, London.
0:38.0	Well, we are virtually, at least for now, taking you over to California today for this episode to get an update from Hemmenschir, co-founder of Archipelago. Now, of course, you know
0:44.4	how important data is for insurance, something we've been writing about and talking a lot about
0:47.9	recently, particularly related to property. Now, almost all the companies we come across, and you two,
0:53.0	I'm sure, are looking
0:54.3	for new sources of data to help insurers enhance, enrich or augment what they get from
0:59.1	their clients. But surprisingly, there are very few companies that are helping the end
1:03.7	client extract their data, learn from it, and then easily share it with their insurers.
1:09.0	After all, the problem for insurers is not the information they need for underwriting and risk
1:12.6	collection doesn't exist, it's just that it's very deep and scattered widely across their clients' own organisations.
1:18.6	So the good news is that Archipelago is solving this problem
1:21.6	and has already made some great advances in connecting insurers with their clients and creating a single source of truth.
1:28.3	To the benefit of all, Hemmint Sharpego, co-founder of Archipelago, has already founded one company
1:33.3	that is today amongst the leaders in providing catastrophe risk modeling to insurance.
1:37.3	That's RMS, and I'm fairly certain we're going to be hearing a lot more from Archaepelego in the new future.
1:42.3	Here we go.
1:56.4	Oh, Evan, I really enjoyed doing every podcast I have, but given the history we've got together and your own experience is a world of analytics and insurance, really looking forward to
2:00.7	this one.
2:01.6	Of course, you're very well-known for founding RMS back in 1989,
	...

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.