Simon Lewis & Matt Greaves: Atrium Underwriters: Underwriting and innovation where it counts (159)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 10 October 2021

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

Atrium Underwriters has been operating in the London market for almost 100 years and has established itself as one of the most forward-thinking insurers when it comes to innovation and new technology. Underwriters Simon Lewis and Matt Greaves join Matthew on Podcast 159 to discuss where that drive for innovation comes from. The conversation covers how Atrium assesses ideas and products for new opportunities like crypto, using technology to speed up claims and reduce costs, and how it supports start-ups through the Lloyd’s Lab and Product Innovation Facility (PIF) at Lloyds. Talking points include: Aligning innovation with day-to-day underwriting Building an innovation culture Assessing viability and accepting “fast fails” Using natural language processing (NLP) to review claims Collating location data for catastrophe risk underwriting 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. 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: Understand some of the opportunities that innovation can bring for insurers Recognise how insurers are supporting start-ups and the potential costs and benefits Compare some current forms of innovation and the impact they are having on the underwriting process 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 159 page of the InsTech London 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	Well, hello, welcome to our regulars and hello to any of you for whom this is your first
0:17.1	in-steck podcast experience. Hang in there. We have got another really juicy episode for you
0:22.2	this week. Matthew Grant here, and this is definitely the season of bringing you insights from insurers
0:26.9	and how they are using innovation. Well, we're delighted to have many of the insurers we consider
0:32.0	to be the most forward thinking in the use of innovation and technology and insurance, whether
0:36.3	that's the global household names to some of the smaller but successful commercial specialty businesses operating
0:42.3	out of light, all of whom are corporate members.
0:45.3	You'll be hearing for many of them over the next few months.
0:48.3	Now, if you've been following the companies really stepping up and putting time and capital against new ideas,
0:53.3	particularly here in London,
0:59.0	then I'm sure you'll have come across one or other of the initiatives being supported by Atrium.
1:03.0	Now Atrium has been a long-time supporter of innovation in insurance in London.
1:06.0	Simon Lewis and Matt Greaves are underwriters at Atrium, but have also carved out an important role for the company and for Lloyds
1:09.6	in identifying new organisations to work
1:11.8	with and putting underwriting capacity behind new ideas, including, as you'll hear in a moment,
1:16.5	crypto assets. So whether you're an underwriter, if you're building a business, selling solutions
1:20.7	into insurance, or just frankly curious about hearing some innovation success stories, then this one
1:25.7	is for you. And finally, if you're not already one of
1:28.0	our members and want to find out how you can benefit from Instac, hang in there to the very end.
1:39.8	Simon, Matt, another really interesting episode here. I just so much love hearing about what is happening with insurance companies using innovation.
1:47.8	And frankly, I think if anybody used to Google Lloyd's innovation insurance, the name Atrium,
1:54.0	is going to have to come up because I just hear so many things you're doing.
	...

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