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InsTech - insurance & innovation with Matthew Grant

Kate Stillwell: CEO and Founder, Jumpstart: Earthquake parametric insurance in practice (104)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 27 September 2020

⏱️ 36 minutes

🧾️ Download transcript

Summary

Five years ago Kate Stillwell had a vision of how she could help people recover quickly after they had suffered the effects of an earthquake. Today she has set up a company, acquired clients and gained insurance capacity. Jumpstart is now providing parametric earthquake insurance cover for homeowners in California and exploring expansion into other states. CEO and founder, Kate Stillwell, joins Matthew to explain what inspired her vision for Jumpstart and how its products differ from conventional insurance. Listen now to learn more on: Turning a vision into a viable business Identifying opportunities for new solutions Building consumer trust using public data Raising capital and finding partners Why capacity is key for parametric solutions If you are interested in learning more about companies like Jumpstart, look out for our new report 'Parametric Insurance: 2021 outlook and the companies to watch'.  Published on Thursday 1 October and available from our website.  Keep track of that and everything we are up to at InsTech London and sign up to our newsletter for a fresh view on the world every Wednesday morning. If you like what you're hearing, please leave us a review on whichever platform you use, or contact Matthew Grant on Linkedin. Continuing Professional Development - Learning Objectives InsTech London is accredited by The Chartered Insurance Institute (CII). By listening to an InsTech London podcast, or reading the accompanying transcript, you can claim up to 0.5 CPD hours towards the CII member CPD scheme. Complete the InsTech London Podcast Feedback Survey to claim your CPD time.

Transcript

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0:00.0

Everybody in California knows that the big one is coming.

0:03.0

You ask every single person on the street is, is a big earthquake coming?

0:07.0

Oh yeah, oh yeah, we're like 10 months pregnant.

0:10.0

Well, it's all about wildfires in California just now as we're releasing this.

0:27.9

But although there haven't been any major earthquakes in the US since Northridge in 1994 in Los Angeles

0:33.7

and Loma Prieta in 1989, that was San Francisco.

0:38.3

Clearly that risk is still on everyone's mind who lives on the West Coast.

0:42.3

This is Matthew Grant, partner at INSDEC, London, and this week I have another fellow former engineer

0:49.3

to talk to Kate Stilwell, founder of Jumpstart.

0:52.3

Now this is such a great story on so many levels.

0:55.9

It's about one person and, of course, our colleagues, who has pushed through many challenges

1:00.1

to deliver on a vision of providing help to communities after disasters. It's about parametric

1:05.8

insurance and practical solution where this offers coverage not available through conventional

1:10.2

insurance. And like all good stories, there's a rescue at the 11th hour when things look practical solution where this offers coverage not available through conventional insurance and like

1:11.7

all good stories there's a rescue at the 11th hour when things look doomed now if you're wondering what

1:17.4

a parametric insurance is all about then do look at for a forthcoming report we're going to be

1:21.8

releasing reviewing what's happening in the market for parametric insurance something that actually

1:26.2

has been going on for at least the last two decades and And also the companies we think you should take a look at.

1:31.3

It's going to be free to members and free to download in the first four weeks.

1:35.1

If you want to get a taster for all that's all about, then you can hunt down a couple of

1:38.6

articles I wrote on LinkedIn earlier this year. Now, if you're one of our regular listeners or if indeed this is your first time,

1:45.1

well welcome, and of course you can find out everything that we're up to and learn about our

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