Piyush Singh: Founder, Terrene Labs - a FRISS company: Calling all underwriters - focus on the core, not the chore (155)

InsTech - insurance & innovation with Matthew Grant & Robin Merttens

InsTech

Business, Entrepreneurship, Investing

4.9 • 51 Ratings

🗓️ 8 October 2021

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

For underwriters, time spent searching for information is time lost to underwriting. Terrene Labs, acquired by FRISS in April 2021, aggregates third-party data sources to help underwriters focus on the core of underwriting rather than the chore of data collection. The acquisition will expand FRISS's range of underwriting insights beyond risk detection analytics. Matthew speaks to Piyush Singh, CEO of Terrene Labs, on podcast 155 to discuss why he left his senior role to launch a start-up, how Terrene Labs built its client base and why his business was acquired by FRISS. Listen now to learn about: The importance of classifying businesses accurately How to find out a lot about a company from just four questions How the insurer can become an expert advisor to its customers The unusual data that can impact risk pricing that insurers don’t usually look at The opportunities in small commercial lines insurance in the US 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 London newsletter for a fresh view on the world every Wednesday morning. For more information on FRISS, go to friss.com 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. The Learning Objectives for this podcast are: Realise how technology sales can happen in insurance and how this has changed in the pandemic Understand how businesses can be categorised and what happens with the data Recognise how data collection can be automated and the hurdles to overcome To continue learning about the essential data for underwriters, read our insight 50 free insurance data sets you'll need. If your organisation is a member of InsTech London and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 155 page of the InsTech London website or email cpd@instech.london 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	and if there's one line I like to use this, we are essentially allowing the underwriting team
0:07.0	to focus on the core which is underwriting and not the chore which is collection of data. Well, hello and welcome to episode 155 and we are up to well over 100,000 downloads for the Instech London podcast now.
0:32.0	Now, often in life, it is the small things that make a difference. So thank you to all of you that have been in contact to say how much you enjoy the podcast really makes it worthwhile. And we've got lots of fascinating
0:41.8	guests lined up for you in the next few months. And with our return to live events, we're going
0:45.7	to be bringing you the highlights from those evenings on the podcast as well. Now, those discussions
0:49.5	seem to get more lively as the evening evolves. I wonder why that could be. I'm Matthew Grant and along with
0:56.0	Robin Merton's with a host of the Instex London podcast, our events, dinners and somewhere in between
1:01.4	all of that, we're also the authors of various articles and our monthly reports. Now, as you may
1:06.7	have noticed, we have been growing our team over the last few months and in particular, we've been
1:10.8	building out our research team to ensure that we can maintain the volume and the
1:14.7	content and the quality of what we are producing so a big thanks to rebecca who's leading that
1:18.9	team ali and henry for taking our reports newsletters and articles to a whole new level you're
1:24.4	going to be hearing a lot more from them soon well if you're a regular listener regular listener, you may recall my interview with Yoran Moranalf, CEO and founder of Fris on episode 105 last
1:33.3	year. Now Fris has gone from strength to strength since our interview, including acquiring
1:37.9	Terene Labs, founded by Puech Singh earlier this year. Now we're talking to over 200 companies
1:43.0	each month and the question of how to
1:44.5	improve and expand the quality of information for commercial properties is something we are
1:49.2	often asked by insurers. So in our discussion, I find out from Puyah how he built his business
1:54.0	over the last five years and in particular what it enables Frist to now be able to provide
1:58.8	hundreds of data points to underwriters from asking
2:01.7	only four pieces of information to their clients. Piers was previously chief information officer
2:07.0	at insurers Great American and RNI, and what impressed me when we spoke was how he had zeroed in
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