Asia InsurTech Podcast

“I feel like there’s a convergence going on. And that’s, that’s with InsurTech and FinTech. And what’s being left behind in the world of InsurTech is increasingly, in my view, core systems, a new generation of core systems. But everything else, like when you talk about embedded insurance, it’s becoming part of embedded finance. And it’s this whole kind of movement to make insurance invisible.” – Anthony Lee

The Asia InsurTech Podcast was joined by Anthony Lee, a co-founder and CEO of Lydia.ai in which we delved into the transformative intersection of InsurTech and FinTech. Anthony explained how these sectors are converging, with embedded insurance becoming a seamless part of financial transactions, aiming to make insurance coverage as effortless as possible. Lydia.ai leverages health data from universal healthcare systems to create risk scores that automate the underwriting process, enabling insurers to offer simplified insurance products without medical exams. This approach not only streamlines the insurance buying process but also integrates insurance into everyday financial activities, making it practically invisible to the consumer.

Anthony also highlighted the role of personalized health recommendations derived from AI and data analysis. Lydia.ai’s platform analyzes activity data from smartphones and wearables to provide tailored health advice, leading to better insurance offers. By embedding health risk scores into digital banking and e-commerce platforms, Lydia.ai is making insurance more accessible and integrated into daily life. This innovative approach reflects a significant shift towards a more customer-centric insurance model, driven by the advancements in AI and the strategic use of health data.

The post EP 230 – The Convergence of InsurTech and FinTech: Making Insurance Invisible – Anthony Lee – co-Founder and CEO of LydiaAI appeared first on Asia InsurTech Podcast.

“So we’re getting great conversion rates on eligible items. And we’re just in that period. Now. We’re moving to convert those customers to paid customers. So I’ll keep you posted on what that looks like. But really, I mean, honestly, you know, when you launch something, you go, this is going to be crickets. I am prepared for silence. I agree. We’re very prepared for the champagne moment, the launch and then nothing. So the fact that customers are even clicking or understanding what we’re offering us, or seeing it there, online is a huge win for us.” – Katherine Clayton

The Asia InsurTech Podcast was joined by Katherine Clayton during which she shared her extensive experience in transforming legacy industries and the unique challenges she has navigated in launching her latest venture in the insurance sector. Coming from a background in organizational and business transformation across various traditional industries such as oil, gas, and mining, Katherine has leveraged her expertise to innovate within the insurance space. She emphasized the importance of keeping businesses relevant in the face of rapidly evolving technology and consumer preferences, drawing examples from successful transformations like Netflix, and failures like Blockbuster.

Katherine also discussed the strategic approach behind Peachii’s product design and market engagement. Recognizing the gap in traditional insurance offerings for younger consumers, Peachii innovates by providing insurance for individual high-value items directly at the point of sale, simplifying the insurance process and making it more accessible. This model not only appeals to a demographic with evolving asset ownership patterns but also embeds insurance into everyday shopping experiences through partnerships with trusted retailers. These efforts are underpinned by a commitment to build consumer trust and educate new markets about the value of insurance.

The post EP 229 – From Legacy to Leading Edge: Transparent, Affordable and Flexible Item-by-Item Insurance – Katherine Clayton – co-Founder and CEO of Peachii Insurance appeared first on Asia InsurTech Podcast.

“Health is not a sprint. Health is a marathon. We spent seven years only creating the health score. 400 million man years of clinical data. So it was an enormous undertaking to create that health score.” – Peter Ohnemus

In this episode of the Asia InsurTech Podcast, Peter Ohnemus, President & CEO of dacadoo, discusses the development of its Health Score & AI-based Lifestyle Navigation Platform that integrates clinical data to evaluate individual health comprehensively. Peter notes that dacadoo spent seven years analyzing 400 million man-years of data to create this scoring system. This effort aims to make health status understandable and actionable for consumers, thus fostering better personal health management.

Throughout the discussion, Peter emphasizes the transformative potential of technology in health and insurance sectors. He explains how traditional methods in these industries are being overhauled by innovations that offer personalized insights and proactive health management. The conversation also touches on the broader implications of such technologies, including their ability to drive down insurance costs and improve overall societal health by promoting healthier lifestyles through data-driven insights and individualized health metrics.

The post EP 228 – Building Meaningful Health Scores: Understanding Health in the Digital Age – Peter Ohnemus – President and CEO of dacadoo appeared first on Asia InsurTech Podcast.

When we wrapped 2022, we did a list of the pod’s top ten episodes. This year was a bit different. AIP split into two shows and birthed a brand new podcast we called InsurTech Amplified to give us the opportunity to cover all of the excitement in the Insurance and InsurTech spaces outside of Asia. [...]

The post Year End Special 2023 appeared first on Asia InsurTech Podcast.

In this episode of the Asia InsurTech Podcast, we sat down with Yamini Bhat, co-founder and CEO of Vymo, to discuss the intricacies of global expansion and the strategic insights she has gained from growing Vymo. Yamini highlighted the critical importance of localizing business strategies to fit different markets, from Japan’s preference for small, highly compliant behavioral changes to the U.S.’s flexible approach that offers a variety of options for sellers. She shared how Vymo leverages data to coach and enable salespeople, tailoring the platform to meet the diverse regulatory and cultural needs of markets across Southeast Asia, Japan, and the U.S.

Yamini also discussed the operational strategies that have propelled Vymo’s growth, emphasizing the balance between maintaining a global brand and adapting to local markets. By building a global yet local team, Vymo ensures responsiveness to customer needs while leveraging centralized expertise. She underscored the importance of adapting to macroeconomic trends and integrating AI technologies to enhance the platform’s capabilities. Yamini’s insights provide a valuable blueprint for any company looking to scale internationally, highlighting the necessity of being globally ambitious and locally adept.

The post EP 231 – Global Expansion: Data-Driven Local Strategies for Sales Excellence – Yamini Bhat – co-Founder and the CEO of Vymo appeared first on Asia InsurTech Podcast.