Jonathan Gonzalez: CEO & Co-founder, Raincoat: The parametric company solving the protection gap at scale (183)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 27 March 2022

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

While weather-related catastrophic events are on the rise, insurance policies and federal aid are still inaccessible for many globally. Jonathan Gonzalez is the CEO and co-founder of Raincoat, a platform to support insurers in the development and distribution of parametric insurance solutions for consumers in at-risk countries and regions. He joins Matthew on Podcast 183 to explain how scalable parametric insurance products are helping to reduce the protection gap, Raincoat’s consumer-focused approach, and tailoring solutions to tackle relevant climate risks in different areas of the world. Talking points include: How Hurricane Maria inspired Jonathan to launch a company How he used his software background to build Raincoat What is needed to successfully collaborate with insurers The indices used to measure perils and how various data sources are handled The importance of regulation in the application of parametric insurance You can get more information about Raincoat on the company’s InsTech London 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 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: Summarise what the protection gap is and the role of parametric insurance products in reducing this Understand how various indices and data sources are used to measure risk List some of the relevant climate risks in different areas of the world and some solutions to mitigate against these 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 183 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

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0:00.0	Hello, and if we haven't met before, I'm Matthew Grant, co-partner at Instech,
0:18.6	and for those you keep coming back for more. Well, I am really delighted we are
0:22.3	keeping you interested. We know you have other choices. Now, all of our guests on the podcast
0:26.9	are special in their own way, each with a story to share. That's why we have them after all.
0:31.2	But Jonathan Gonzalez has crowned a huge amount in only a few years since starting raincoat,
0:36.1	and it all started with a very personal journey.
0:38.5	Now whilst this discussion is about parametric insurance, one of the major themes we are following this year,
0:43.5	it's also the story about someone building a company gaining trust from his clients in a brand new business area,
0:50.4	not being daunted by lack of knowledge and having faith in others. We are very pleased to have had
0:55.6	support from Jonathan and his colleagues at Raincoat, who are supporting us as corporate members.
1:00.1	And since recording the interview, I've also had the pleasure of meeting Jonathan here in
1:03.7	London face-to-face. There is life beyond Zoom.
1:14.3	Jonathan, great to have you.
1:17.0	You are our first guest from Puerto Rico.
1:19.4	In fact, you are our first corporate member from Puerto Rico.
1:24.3	Really delighted to be working with you, really fascinated by what you're doing and your personal story.
1:27.1	So Raincoat, you founded back in 2019. You're offering services worldwide
1:29.1	now and you're enabling insurance protection for natural perils at scale with parametric
1:35.0	solutions. You're very much in that category of companies that are providing technology and services
1:40.2	for others rather than an MGA in your own right. So differentiating you from some of the other organizations out there.
1:47.0	You're both CEO and co-founder.
1:49.0	Interestingly, you've got a background in software.
	...

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