Making payments frictionless - from cashless to cardless (201)

InsTech - insurance & innovation with Matthew Grant & Robin Merttens

InsTech

Business, Entrepreneurship, Investing

4.9 • 51 Ratings

🗓️ 31 July 2022

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

Join us for the highlights of our live event “Making the Most of Payments Technologies”. Supported by Mastercard and Stripe, we lifted the lid and explored examples of the latest digital payments capabilities from some of the largest, and most innovative companies in this area. In the first of this two-part podcast, Matthew reflects on conversations he had with Ruth Polyblank, Jason Reddington, Alice Glenister, Ian Slater (Mastercard); Ben Smyth (Arma Karma) and Bruno Soares (Imburse). Talking points include: Why payments are so critical to insurers What consumers really want How Mastercard data is being used to create parametric insurance products Overcoming the challenges of legacy systems to join up the banks, payment providers and insurers The role of TikTok in promoting insurance applications Virtual cards - what they are and who is using them More InsTech content featuring Mastercard is available on the company’s member profile page. More InsTech content featuring Stripe is available on the company’s 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 is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech 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: Describe some of the challenges encountered by banks, payment providers and insurers due to legacy systems Summarise the properties of a virtual card and its modern benefits for consumers List some of the ways in which the insurance industry is utilising social media in its practices 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 201 page of the InsTech website or email cpd@instech.co 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 welcome, Matthew Grant here, and we slipped in our new theme tune last week,
0:15.2	and here it is again, jazzing things up a bit as we're now onto the 201st episode, and
0:19.8	we thought it time for a refresh.
0:21.6	But back to one of our podcast original themes for this episode with a topic that not
0:27.6	everyone knows about, but you do definitely care about and is at the heart of some of the best
0:31.6	innovation in insurance, that is payments. Now, even if you think this is not your thing, don't give up on us too quickly.
0:38.7	We're bringing you the highlights from our live event earlier this year on this topic,
0:42.1	where we're close to 200 people packing into the room. And as we learned on the night,
0:46.5	this is an area that impacts everyone, even if you're just paying for your insurance and
0:51.1	getting a claim paid. Now, our thanks to Ruth Pollyblank, Vice President
0:55.0	Partnerships Lead for Insurance at Mastercard and our colleagues for supporting us at this event
1:00.6	and joining us on stage for the first half of the evening. We also had imbursts and startup
1:06.0	Amacama on stage with us and if you've ever wondered about what happens when insurance meets TikTok,
1:11.9	then you're about to find out. Now we're going to jump straight into the evening with Ruth
1:15.3	telling me why MasterCard supported this event.
1:25.1	I've known INSTET for quite some time. I think INSTEC is different and not to kind of inflate
1:31.6	egos, but you know, INSET community is all about helping each other and saying yes and collaborating.
1:36.9	And, you know, it's no mistake that the team set in front of you today is enterprise partnerships.
1:42.0	So it's about working with other people and coming to events
1:44.6	like this enable us to meet organisations that we might not otherwise and work out how we work
1:50.3	together. How would you describe what payments means to insurance organisations? Effectively, it's
1:55.7	about paying and getting paid. So premium in and claims disbursements out is essentially the core of it.
	...

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