Sean Ringsted: Chief Digital Business Officer, Chubb: Driving scale and revenue with embedded insurance (216)

InsTech - insurance & innovation with Matthew Grant & Robin Merttens

InsTech

Business, Entrepreneurship, Investing

4.9 • 51 Ratings

🗓️ 13 November 2022

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

Chubb is one of the largest global property and casualty insurance companies. It provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to individuals, families and businesses of all sizes. Sean Ringsted is the Chief Digital Business Officer at Chubb and joined Matthew Grant to discuss developments at Chubb including Chubb Studio and increased use of IoT devices in insurance. Topics include: How Chubb is expanding its global client base with Chubb Studio Why the growth of neobanks in developing economies is making insurance easier to buy What artificial intelligence can do and what it cannot What to expect in 2023 Lessons for Chubb from building its own technology Learn more about Chubb including our past interviews, podcasts and reports from our dedicated website 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. To find out more about InsTech, our membership and offerings visit www.instech.co or contact us hello@instech.co 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 what a neobank is and understand the benefits they bring when purchasing insurance in developing economies Summarise the key advantages of using artificial intelligence and the pros and cons of how it impacts a business List some examples of the methods used to expand and grow a business 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 216 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 or welcome back, Matthew Grant here. Now, I know a few of you, or maybe I
0:15.8	should say many of you were at ITC recently, including Sean Ringstead, our guest today, as we're going to
0:21.0	hear about in a moment. Well, 10,000 people in one place is a lot to be sure, but reflecting on
0:26.8	life in London in a typical week that I'm having, I see I'm averaging close to 40 meetings
0:31.4	and speaking to well over 100 people every week, with breakfast, dinners, evening events and
0:36.5	everything else. Now, many of those people are coming in from Europe, dinners, evening events and everything else.
0:43.5	Now, many of those people are coming in from Europe, the US and Asia. So almost every week here, it feels like ITC. So I think we're going to need to go there next year ourselves. But for the time
0:48.0	being, if you are over in London and want to meet up or your overseas and fancy a call,
0:52.1	then let me or any of us know, hello at instet.com or via
0:56.0	LinkedIn. Well, I've known Sean Ringstead for many years and Sean trained as an actuary
1:01.0	and had the role of chief actuary at what was Ace and is now Chubb for many years, then became
1:05.9	chief risk officer and also chief digital officer. So few people know more about the challenges and
1:12.2	opportunities facing global insurance than Sean. He's back for his third appearance on the podcast
1:16.8	in five years. And for this episode, we are talking about Chubb Studio and what that means for
1:22.3	embedded insurance, real applications for IoT, including some workable ones, risk management and the growth of insurance in emerging markets, and a whole lot more.
1:32.5	We're delighted to be supported by Chubb as one of over 50 insurance companies we are working with as members and stand by for some very useful insights, whether you are in insurance or technology or just curious.
1:42.6	And as usual, everything we're up to at Instech
1:44.9	is on the website, www.com.com. Sean, it's great to have you back. You are going to be making a record.
1:59.4	You are here for the third time. So thank you
2:02.0	very much for carving out some time. I'm assuming this is working well for you, the fact you've come
2:06.1	back to join us again. I'm really happy to be back. I think you've done a tremendous job on the
2:11.0	program. So it's a great honor to be back. Thank you. I just did a quick check. So back in July
	...

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