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InsTech - insurance & innovation with Matthew Grant

Joe O'Connor, RDT: Claims, Customers and Composition Engines - Why Orchestration is the Key (307)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.850 Ratings

🗓️ 16 June 2024

⏱️ 24 minutes

🧾️ Download transcript

Summary

Is your insurance technology up to speed? This week on the podcast, we have an insightful conversation with Joe O'Connor, Deputy CEO of RDT. RDT is a well-known software and services provider for the motor insurance industry, with plans to expand into the specialty market. Joe discusses how technology provision has changed over the last decade, what RDT has learned from providing services to general insurers, what the specialty market can learn from achievements in the retail sector, the launch of its new workflow and orchestration platform (ACE), and RDT’s future plans. Learn how RDT has identified a market need, worked with existing customers to build technology to meet those needs, and why they have great hopes for ACE, now that they are ready to "come out to play." Key talking points include: RDT’s transition from traditional software to managed service and SaaS. Expanding scope beyond the traditional focus on motor and niche insurance sectors. The impact of claims inflation and degradation of claims handling skills. The launch of ACE (Agile Composition Engine) and its role in orchestrating insurance processes. The importance of ecosystem integration and selective platform partnerships. What specialty insurance can learn and leverage from prior investment in technology for the general insurance market.  Future directions for RDT, including expansion into specialty insurance markets. Useful links RDT Whitepaper - This paper explores the impact of technological advancements and customer demands on insurance claims processing, highlighting RDT's ACE platform and various industry trends. If you like what you're hearing, please leave us a review on whichever platform you use or contact 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: Understand the issues facing claims professionals and the role that technology and automation can play.  Identify why data and platform ecosystems are so important and how to set about building them.  Explain the power of orchestration in automating tasks and multi-platform composition 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 307 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

don't try and eat an elephant in one bite.

0:02.9

The speed with which things can change now due to the investments that have been made in those

0:08.3

marketplaces is off the chance compared to before.

0:12.4

And I see no issue or no shame in plagiarising those ideas and technologies for your own use.

0:27.7

Thank you. Glad you found us and welcome back if you

0:32.8

are a regular listener and I hope wherever you are in the world is a little bit warmer than

0:37.0

where I am just now in June. Pretty miserable for this time of year, isn't it? Anyway, today on the brighter

0:42.0

things, we have RDT, Joe O'Connor, deputy CEO, is talking to Robin Mertens. We've been following

0:47.6

RDT for many years. It's a well-established company, but that doesn't stop it being innovative,

0:52.9

and most recently it's been

0:54.3

evolving from its core software systems into a managed service provider and

0:58.9

particularly looking at what is happening in claims and how they can help with

1:03.1

the new and involving requirements from claims handling you're going to enjoy

1:06.9

this one as I said we've been really intrigued to see what's happening with

1:09.9

RDT so with that over to Joe and Robin.

1:19.2

This week's Intertech podcast is with Joe O'Connor. Joe is the deputy CEO of RDT. Joe,

1:26.8

thanks for joining me. Thank you very much, Robin. Been looking forward to it. How long have you been of RDT. Joe, thanks for joining me.

1:27.7

Thank you very much, Robin.

1:28.6

Been looking forward to it.

1:29.5

How long have you been an RDT man?

1:31.2

I'm coming up to 10 years now.

1:33.1

And I've got to say, when I first joined,

...

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