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InsTech - insurance & innovation with Matthew Grant

Neta Rozy: Co-founder and CTO, Parametrix Insurance: Parametric downtime insurance (115)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 13 December 2020

⏱️ 31 minutes

🧾️ Download transcript

Summary

Covid-19 has led to insurance companies ramping up the speed of their digital evolution, but relying on third-party services like a cloud provider creates new external risks that need insuring.   Parametrix Insurance was launched 18 months ago to protect businesses from the hidden costs of going offline. As well as attracting strong interest from brokers, the company also had a parametric product named after them in the Lloyd’s Lab. Co-founder and CTO Neta Rozy joins Matthew on Episode 115 to discuss the company’s rapid growth and how they’re using technology to monitor thousands of digital services worldwide. Talking points include: Tailoring solutions for large and small businesses Defining payouts without physical losses Why brokers love parametric products What to look for in potential partners Standing out and scaling at speed Keep track of 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 any InsTech London podcast or reading the accompanying transcript, you can claim up to 0.5 hours towards the CII member CPD scheme. To claim 0.5 hours for this podcast, go to the Episode 115 page of the InsTech London website, or email [email protected].

Transcript

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0:00.0

We're looking for partners that we can collaborate with and co-create and we get insights from their own customers.

0:07.0

And that's how we develop and learn how to really fit, and London in particular seems to

0:38.3

be having problems coping. Although given that most of us are still relying on copper wires

0:43.1

haven't changed much since telephones were first introduced 100 years ago I guess we should be pleased

0:48.2

with what we've got. So slow down notes I'm not ideal but what happened if your service provider

0:53.1

or cloud network goes down?

0:55.3

Do you have insurance protection if your clients can't buy from you or can't get in contact with you?

1:01.1

Well, hello again or if it's your first episode, welcome.

1:04.6

And for you, early risers, we're now releasing the podcast episodes at 7am on Sunday morning

1:10.5

so you can take us with you for your

1:11.9

jog or morning walk or if you just need an excuse to plug in and take it easy well we'll be there

1:16.9

with you Matthew Grant here partner at Instac London and back this week interviewing Netter

1:22.8

Rosie co-founder and CTO of parametric's insurance. Now, Speed is one characteristic of many great companies

1:30.9

and Parametrics has certainly not been hanging around in the last 18 months. They're based in

1:36.0

Israel but with operations in the US and the UK and recently took part in the Lloyd's lab. Parametrics

1:42.1

has quickly defined and is delivering a vital product for businesses

1:46.3

small and large. In fact, so successful has it been that Lloyds has already named one of its

1:51.4

products after the company. In this episode, you're going to find out why Netta and the team

1:56.2

founded the company and how their products work. We discover where they get their information from

2:01.9

and why they've had to do the hard work to build their own analytics. And this is another

2:07.3

parametric tool so of course we need to find out what triggers the payment and how reliable

2:12.2

that is. Now Lloyd's lab proved a real success and we talk about which insurance companies

...

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