Tim Rayner, CEO: Verisk Specialty Business Solutions: Innovation in the London Market (290)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 18 February 2024

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

Robin Merttens is joined by CEO and President of Verisk Specialty Business Solutions (VSBS), Tim Rayner. The discussion covers VSBS’s acquisitions such as Rulebook and Whitespace for a broader digital ecosystem, and the challenges of decision-making and procurement in the London market. Key talking point: Growth and opportunities in the specialty market Acquisitions and the role of Whitespace and Rulebook The impact of London Market modernisation on Verisk The importance of providing solutions rather than products A challenge to the market to innovate 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 [email protected] 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: Describe how the London Market operates and how it can subsequently modernise its processes Explain what an acquisition is and why they are important for a company Identify the opportunities for change in the specialty market 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 290 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	So I challenged the market to be a bit more liberal in terms of how we experiment with new technologies,
0:09.1	to challenge Verisk and other vendors and suppliers and partners to the market,
0:14.2	to really leverage that innovation, to fail fast, and just to experiment,
0:19.5	because a quick experiment, whether it fails or succeeds,
0:22.5	we'll learn something from it.
0:32.6	Good morning, good evening, wherever you are, Matthew Grant here, but only for a short time today. Welcome or welcome back.
0:39.8	Glad you found us again today. Well, we've got a real treat for you. It's Robin Mertens and Tim Rayner.
0:45.0	Tim is CEO of Various Specialty Business Solutions and they're going to be talking about the uses of data,
0:50.4	analytics and innovation from a company that has been around for a while, but it's still keeping
0:55.2	things fresh. Now, if you want to find out more of what we're up to, www.instag.co,
1:00.7	has got everything we've got going on, events coming up, and membership, and a whole lot more.
1:05.4	But with that, here's Robin.
1:18.0	Welcome, everybody, to this week's Intertech podcast. I'm joined today by the CEO and president of Veris Specialty Business Solutions. Tim Rainer, Tim, thanks for joining us. Hi, Robin. Thank you for having me
1:24.4	on the podcast. I've been an avid follower and listener, and it's a pleasure to take part today.
1:28.7	Good for you, because I was going to raise that right from the start. You and I've known each other quite a long time. I'm saying 15 or 16 years. And if I recall right, you set around a table in Millers when you were there, and we talked about the idea of forming Intertech. And I can't remember who was around a table in Millers when you were there and we talked about the idea of forming
1:46.3	Intertech.
1:47.1	And I can't remember who was around the table.
1:48.4	You were there.
1:49.4	Harry Croydon, M.C. was there.
1:50.9	There were a few others.
1:52.3	And you were all very encouraging.
1:54.4	And it wasn't long after that that you kindly hosted our first ever reverse pitch night
	...

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