Ep 14 - Ali Safavi, Global Head of Insuretech, Plug and Play
Release Date: 03/15/2019
FNO: InsureTech
This week, Rob and Lee welcome an esteemed panel including four of the founding members of the InsurTech Coalition: Austin Bailey from Branch, Scott Fischer from Lemonade, Jeremy Dietch from Boost and Rachael Dugan from Indigo. Together, they talk about the mission of the InsurTech Coalition and benefits of membership, the Coalition’s aim to shape regulation through education and transparency, and how we can better use technology responsibly in insurance. Learn More: What You’ll Hear In This Episode: [5:10] The four guests introduce themselves and how they got...
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info_outline Ep 253: Founder of CQCS, Gustavo Doria FilhoFNO: InsureTech
Rob and Lee start with some T-shirt talk before welcoming guest Gustavo Doria Filho, Founder of CQCS. What began as an online network for insurance professionals in Brazil has flourished into a global community of over 100,000 subscribers. In the episode, Gustavo shares the journey of founding CQCS and highlights the vibrant landscape of insurance and innovation in Brazil, offering insights that resonate far beyond its borders. He talks about how Brazil's thriving InsurTech ecosystem is shaping the future of the industry worldwide and what we can expect from future events and opportunities....
info_outline Ep 252: CEO and Co-Founder of REOR20, Danny ChatziprodromouFNO: InsureTech
Rob and Lee chat about their recent trip to London and then welcome Danny Chatziprodromou, CEO and Co-Founder of REOR20. Danny talks about how REOR20 is applying AI to revolutionize flood risk assessment and underwriting, and how the innovative technology could transform the flood insurance industry. He details more about how their physics-based AI model is one of a kind and provides more accurate risk predictions, allowing for a transformative solution for engineering-focused underwriting. Learn More: What You’ll Hear In This Episode: [7:24] Danny explains more about the...
info_outline Ep 251: CEO and Founder of LeakSentinel, Bill LoeschFNO: InsureTech
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info_outline Ep 249: Co-Founder and CEO of Whisker Labs, Bob MarshallFNO: InsureTech
Rob and Lee welcome in Bob Marshall, Co-Founder and CEO of Whisker Labs. Bob talks about their flagship solution, Ting, which draws on decades of electromagnetic and atmospheric sensor technology to protect communities and prevent electrical fires, while also monitoring the resiliency and safety of the U.S. electrical grid. Bob shares more about the many ways Ting is taking the relationship with insurers to a new level while also gaining valuable insights. He highlights some real case studies where Ting has helped to save homes, and explains the rewarding impact of their work. ...
info_outline Ep 248: Co-Founder and President of Chrp Technologies, Chin MaFNO: InsureTech
This episode features Chin Ma, Co-Founder and President at Chrp Technologies, a fascinating technology that allows underwriters insight into the home of the insured and to reduce losses. Chin talks about how Chrp was created and explains how the technology helps to underwrite accurately and get the insured involved in the process, providing help where it’s needed. Learn More: What You’ll Hear In This Episode: [6:40] What is Chrp, and how did they build the technology? [9:32] What was the problem that Chin’s partner and Chrp founder Micah set out to...
info_outline Ep 247: CEO and Co-Founder of SnapRefund, Cody EddingsFNO: InsureTech
Rob and Lee are joined by Cody Eddings, CEO and Co-Founder of SnapRefund. Cody first shares the story of founding SnapRefund in Philadelphia and taking the company through accelerators like TechStars. Cody also reflects on the validation of winning the State Farm pitch competition at ITC, and details how SnapRefund’s technology works to streamline and simplify the insurance claims process through automation and digital payments. Learn More: What You’ll Hear In This Episode: [9:29] Cody shares the origin behind SnapRefund. [9:48] The growing startup scene in...
info_outline Ep 246: CEO and Founder of Charlee.AI, Sri RamaswamyFNO: InsureTech
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info_outline“The industry is realizing that it’s not just about using technology. It’s that technology is changing the fundamentals of risk.” - Ali Safavi
(click to tweet)
Technology is inescapable.
With Alexa ordering our toilet paper, Nest changing our home’s temperature, and smartphones controlling every other part of our lives—we’ve become walking cyborgs.
And in insurance, the story is no different. With each day comes a new technology challenging the archaic systems of yesterday.
That’s why on today’s episode of FNO: InsureTech, we are joined by Ali Safavi to discuss the intersection of technology and insurance. Ali Safavi is the Global Head of Insuretech at Plug and Play. Ali is also a Partner in Plug and Play Ventures, our venture arm, where he invests in startups in different spaces including insurance, travel and hospitality, and IoT. Ali has published numerous articles on data analytics, machine learning, and insurance, as well as holds an M.Sc. in Computer Engineering
Tune in to this episode to hear Ali’s insights, so you can apply them to your product or business!
“A good team always finds a product-market fit.” - Ali Safavi
(click to tweet)
The FNO: Tips
- A platform is different than a technology because it provides an ecosystem of data and insights
- Compared to other industries, insurance is capital-rich, from assets to cash flow
- 50-60% of insurance startups started with an application unrelated to insurance, and then shifted into the market
- Provide better value by looking at your clients as partners, not clients
- At its core, technology is driving fundamental changes to risk
- Insurance is hard to reshape because it’s a concept: distributing risk across many people
- Invest in insurance companies that are service-oriented, rather than reimbursement-centric.
- Check out Neos for a company with smarter home insurance
- Entrepreneurship works off the network effect, people who exit want to do it
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