Jonathan Gonzalez, Co-founder & CEO: Raincoat: Exploring Truth, Fair and integrated parametric insurance (305)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 2 June 2024

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In the first iteration of our upcoming parametric series with Raincoat, Matthew sat down with Jonathan Gonzalez to delve into how parametric insurance can be integrated with traditional indemnity insurance, the technical and regulatory challenges, and the importance of creating products that customers perceive as fair. Watch this space for some very exciting episodes coming up. Key talking points: Importance of iteration and scaling Parametric should be looked at as a tool The connection to smart contracts and parametric What is ‘truth’ in insurance? What is ‘fair’ in insurance? The key to successful integration How much human intervention goes into running the model Evolving role of brokers The openness of the insurance industry to new solutions 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: Describe the connection between smart contracts and parametric and why this is important Explain the difference between ‘truth’ and ‘fair’ in insurance Identify how the role of the broker can evolve when it comes to parametric insurance and its integration 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 305 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	I've always believed that one way or another, all products ultimately end up being parametric.
0:05.1	And I know that's a little sci-fi to say that. But really what I mean by that is when you really
0:09.8	think about it, any insurance product is fundamentally based on parameters. It's just those
0:15.0	parameters sometimes are a little fuzzy. They're built on a model that might be independent,
0:19.4	then require a claims approach that is also
0:22.2	independent. But it's not like the claims adjuster or the person calculating claims is calculating
0:27.3	it in a vacuum. They're taking into consideration data inputs and making an assessment based on that.
0:33.2	So if you can imagine a world where you have access to everything in real time, like just
0:38.2	imagine you had data for everything within a house, everything that's happening, you could
0:43.2	potentially compute claims in an instant way.
0:46.7	And in that universe, it's technically all parametric. Hi everyone and welcome back to the Instech podcast. Our New York event is right around the corner and soon
1:05.6	we're jessing off to meet everyone on the 4th of June. Our second New York event of the year,
1:11.6	2024 and Insurance Odyssey,
1:14.1	will be on just before InsureTech Insights
1:16.3	to do come along and say hi if you're in the area.
1:20.0	We are nearly at capacity,
1:21.8	and we are prioritising insurers, brokers,
1:24.3	MGAs and Instech members.
1:26.6	This week on the podcast, we have a slightly different episode.
1:30.4	Jophen Gonzalez, co-founder and CEO of Raincoat, sits down with Matthew, covering the
1:35.9	evolution and scaling of parametric products, the impact of climate events on the insurance
1:40.5	sector, and the technicalities of developing fair and effective insurance solutions. This isn't the first time we have Jonathan on the insurance sector and the technicalities of developing fair and effective insurance solutions.
	...

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.