The Future of Insurance Podcast – “Fluidity of Insurance”
The Future of Insurance Podcast – “Fluidity of Insurance”
Raghav Jaggi, Global Insurance F&A and General Insurance leader with Bryan Falchuk
The Future of Insurance Podcast – “Fluidity of Insurance”
Raghav Jaggi, Global Insurance F&A and General Insurance leader with Bryan Falchuk
Overview
"Think about an organization that is hyper connected with customer experience at its very core"
In this podcast, Raghav Jaggi speaks with Bryan Falchuk, host of The Future of Insurance podcast about the concept of Fluidity of Insurance. Individuals have different insurance policies to cover for health, life, car, rent/home, but the ideal customer experience would be to have everything embedded to provide the right coverage in the right place without worrying about multiple policies.
Key points discussed:
- Innovation has been held back in the insurance industry for a very long time, with some carriers choosing to create innovative units, and they have been best positioned to change.
- 60-70% of the disruption in the industry by Insurtechs has been focused on Personal Lines and distribution.
- The future could be an organization that is hyper connected with customer experience at its very core where walls between underwriting, claims, fin ops, product lines are broken down and predictive & prescriptive insights are generated leveraging real time data. So there is immense value to be tapped in.
- The use of data in a seamless fashion will mean the traditional insurance hubs of Hartford or London will see competition from new places like Singapore and Hong Kong, driven by how data is being utilized.