Martin Reith, Chairman: Artificial Labs: Martin’s market musings - some lead and others follow (318)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 1 September 2024

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

Next month, Martin Reith will mark 40 years in the London Market. As he approaches this significant milestone, we sat down with him to discuss his journey into the industry, his most notable achievements, his decision to become Chairman of Artificial Labs, and his thoughts on the challenges of modernising the London Market. We also explored his strong advocacy for algorithms and the advice he has for the next generation of industry leaders. Key talking points: Starting 40 years ago Founding Ascot Underwriting and receiving backing from AIG What has gone well in the Lloyd’s Market and what can be improved? Is there a good time to invest in technology Smart Follow - a term often misunderstood The world of algorithms Martin’s advice for anyone thinking about entering the Marketplace The London Market - it works on people 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 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: Explain what Smart Follow is in the context of insurance Identify ways in which the London Market place can take advantage of innovation Summarise what an algorithm is and how it can be implemented in insurance 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 318 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	Good morning, good evening, wherever you are.
0:10.8	Well, we are well past bank holiday weekend here in London.
0:13.7	The schools are going back and is getting darker earlier in the evening.
0:17.0	So what better time to settle down with the beverage of your choice?
0:20.0	Or if you are more energetic,
0:21.8	take us for a run on your bike or in your bag on your commute to work. We don't care. We're just
0:26.0	thrilled you found us. Today's guest will complete 40 years in the London insurance market in
0:30.8	September and ahead of Martin Reith achieving that landmark achievement, Robin Merson's grabbed a virtual
0:35.9	coffee with him to get his perspective on
0:37.9	what he has learned in that time and advice for those who follow in his footsteps. Now, you're going to
0:41.8	hear about what Martin considers his greatest achievements, why he took the role as chairman of
0:46.4	artificial labs and his passionate advocacy for algorithms. But if you're a regular listener,
0:52.1	they don't know it's not all Sherry and Roses on the InSdeck podcast.
0:55.7	Robin and Martin also discussed some of the frustrations with the speed and progress towards modernization in the London market.
1:01.9	Well, quick ad break before I pass you over with Robin.
1:04.1	If you haven't discovered us and you're interested in how we can help you meet your business partners,
1:08.7	share your story and keep ahead of what is driving
1:10.8	everything in the insurance world today, then I recommend you to our website, www.com.
1:21.5	I've got Martin Reith with me today. Martin and I were on a panel together at a PPL, an artificial
1:27.3	sponsored event last month, and we had such a good chat that Martin and I were on a panel together at a PPL, an artificial sponsored event last month,
1:29.5	and we had such a good chat that Martin and I immediately thought I'd get hold of you,
1:33.3	and I would get you on our podcast where you could be free of the constraints of being on the public stage,
	...

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