Michele Mattei’s Post

Sunday Musings: A Glimpse into the Insurtech Future - Embedded Insurance 🌟 Happy Sunday, everyone! Today's read has taken me on an intriguing journey into the heart of embedded insurance—a sector poised to redefine our industry with a staggering $3 trillion market opportunity. Imagine insurance seamlessly integrated into everyday transactions, invisibly aligning with our life’s most significant moments when we need it the most. In the article, the success stories of Ant Group and Uber stand out, illustrating the transformative power of embedded insurance. Ant Group, with its enormous user base thanks to Alipay, has tapped into an underserved market, particularly in low-income rural areas. By not just reselling existing products but creating a platform connecting demand with supply, they now offer 2,000 customized, affordable, and flexible insurance products, highlighting the untapped potential within our reach. Similarly, Uber’s approach to providing various insurance solutions tailored to the unique needs of its drivers underscores the shift towards more personalized and flexible insurance offerings. These examples not only showcase successful implementations but also the profound impact embedded insurance can have on customer engagement and satisfaction. At Octamile , we dream of a world where no one is left unprotected, and this article reinforces our belief in the power of innovation. It's more than just technology; it's about weaving a safety net into the fabric of our daily lives, making insurance a natural part of our everyday experiences. As we stand at this crossroads, the question that emerges is not if but how we can integrate such innovative solutions into our offerings. How can we, as leaders, innovators, and visionaries, contribute to this transformative journey? This thought-provoking piece is a call to action for all of us in the fintech and insurtech sectors. Let's explore and embrace the opportunities embedded insurance presents. Join me in envisaging a future where insurance is not an afterthought but an integrated, life-enhancing tool. Dive into this fascinating exploration of embedded insurance, and let's discuss how we can collectively redefine the boundaries of our industry. How will you be part of this revolution? #FutureOfInsurance #SundayInspiration #EmbeddedInsurance #OctamileJourney #insurancerevolution https://lnkd.in/ex4PJCSN Let this be the spark that ignites our collective imaginations and drives us toward a more secure, inclusive, and innovative future.

I love this feature by Digital Insurance recognizing highly innovative #insurance organizations and #startups that are reshaping the future of insurance. This article features an interview with Sertis (MGA) CEO, Mark Gardella—an insurance leader with a track record for leading innovation at the industry's largest global organizations. Check it out and follow Sertis on LinkedIn!

We’re thrilled to share that Sertis has been featured in Digital Insurance's latest article, Meet the InsurTech: Sertis! 🎉 This in-depth feature highlights how Sertis is transforming the #multifamilyinsurance market through innovative solutions that leverage proprietary risk data and cutting-edge technology. At Sertis, we’re addressing the long-standing challenges of affordability and stability in this space—helping brokers grow their portfolios with confidence and reliability. Backed by an AM Best A- rated insurance partner, Sertis provides tailored solutions that reflect deep industry expertise and an unwavering commitment to solving the challenges of multifamily insurance. We’re proud to be recognized for the work we’re doing to empower brokers, property owners, and the industry as a whole. Dive into the full article to learn more about what makes Sertis a true innovator in #insurance. 📖 Read the article here: https://lnkd.in/eS6uwQFT Thank you to Digital Insurance for the opportunity to share our story—we’re excited to continue reshaping the multifamily insurance landscape! 🚀 #MultifamilyProperty #GeneralLiability #EquipmentBreakdown

Being quite new to the insurance industry, something has struck me. Insurers: it is time to act. In today's rapidly evolving innovation landscape, one thing remains constant: the relentless pace. When the number of options just keeps increasing, it's easy to feel overwhelmed. The result is unfortunately often inertia as it is convenient to think that inaction is cost-free. And if you are, like me, a bit of a control freak it is easy to look inwards and think: “what can we accomplish ourselves?”. However, the path to progress often lies in the opposite direction. As the wheels of industry spin faster and faster, the strategy of building less and buying more becomes increasingly attractive. Why? For any company, regardless of sector, let alone a large-scale insurance enterprise, maintaining and developing cutting-edge tech skills across all areas of operations is an impossible task. For insurance, this reality underscores the importance of collaboration with niche insurtech firms. By partnering up with the right ones, you can gain MORE control, not lose it. And taking less of a risk in the process. Although I might be a bit biased, I firmly believe that insurtechs are key to driving progress in the traditional insurance sector. Buying instead of building is also a great way to minimize risk. The cost of doing nothing could actually be what costs you everything; finding yourself in a laggard position that will not be able to get back from. It is an overwhelming thought, and that’s why finding the right partners is key. And there is really no time to waste.  

Sertis is taking a fresh approach to writing multi-family risks.

Canadians are increasingly seeking to buy insurance at the same time they are booking a trip, buying a house, getting new tech gear, and snagging tickets to their favourite event. This shift to “embedded insurance” offers significant rewards for insurance organizations that get it right. This means integrating products within retail partner platforms and adding value to the experience. At the same time, what “embedded” means is changing rapidly. Insurers need to identify the right brands to partner with, and then figure out how they can help those brands deepen their customer relationships, harness data, and execute on perfect experiences. The most advanced insurers are harvesting and leveraging new sources of data from platform partnerships to innovate products and tailor offerings to customers. They’ve built flexibility into their technology and data pipeline that allows them to pivot fast and adapt to changes. They’re making more sales and growing their audience by meeting customers where they are, with useful products, and seamless adjudication and claims processes. Our latest article digs deeper into the stages of embedded insurance and focuses on the first, essential step – strategy: https://lnkd.in/e5tVgR-x To learn how a customer-centric embedded insurance strategy can benefit your organization, contact our team.

VOOM Insurance, an InsurTech pioneer known for crafting usage-based insurance products tailored for the future of mobility, has appointed Thomas Coyne as its new head of insurance. Read more here: https://lnkd.in/ewcYFTW3 #Insurance #InsurTech

Read about how insurtech can reduce the protection gap in the Middle East. Article by Fast Company Middle East

Hippo's Strategic Shift: Selling Majority Stake in Subsidiary Insurance innovator Hippo Insurance has announced its Q3 results, revealing a 37% YoY revenue increase to $44.8M, narrowing net loss to $41.1M, down from $54.4M in Q3 2022. But that's not all - the company is also making waves with its decision to sell a 51% stake in its subsidiary, Spinnaker Insurance Company. Why the sale? Sharpening focus on core insurance services and technology and unlocking additional capital for growth. What does this mean for the industry? Insurance innovation continues to disrupt traditional models New partnership opportunities on the horizon Key takeaways: Embracing strategic change can drive long-term success Focus on core strengths can lead to growth

Join 150+ embedded and affinity insurance experts (carriers, brokers, distributors, insurtechs, and VCs) at our in-person Plenary Meeting in London, UK | 11th November 2024 1:00-7:00 PM. Register here: https://lnkd.in/d-tpv3Pc Here is the speaker lineup and agenda for 6 hours of insightful sessions: 𝟭. 𝗣𝗿𝗲𝘀𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻 – 𝗧𝗵𝗲 𝘀𝘁𝗮𝘁𝗲 𝗼𝗳 𝗲𝗺𝗯𝗲𝗱𝗱𝗲𝗱 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗮𝗻𝗱 𝘁𝗵𝗲 𝗲𝘃𝗼𝗹𝘃𝗶𝗻𝗴 𝗿𝗼𝗹𝗲 𝗼𝗳 𝘁𝗲𝗰𝗵 𝗲𝗻𝗮𝗯𝗹𝗲𝗺𝗲𝗻𝘁: - Yuri Poletto, Founder and Director of the Open & Embedded Insurance Observatory - Giulia Romanzin, Head of Financial Services GTM Europe South, Head of Insurance GTM UK at Amazon Web Services (AWS). 𝟮. 𝗣𝗮𝗻𝗲𝗹 – 𝗨𝗻𝗹𝗼𝗰𝗸𝗶𝗻𝗴 𝘁𝗵𝗲 𝗣𝗼𝘁𝗲𝗻𝘁𝗶𝗮𝗹 𝗼𝗳 𝗢𝗽𝗲𝗻 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲: 𝗖𝗼𝗹𝗹𝗮𝗯𝗼𝗿𝗮𝘁𝗶𝗼𝗻, 𝗜𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻, 𝗮𝗻𝗱 𝗗𝗮𝘁𝗮 𝗦𝗵𝗮𝗿𝗶𝗻𝗴: - Mark McDonald, General Insurance Practice Director at Altus Consulting - Lorenzo Fattibene, Global Strategy Execution Leader at EY - Robert Trueman, CTO of CDL Software and Insurely. 𝟯. 𝗥𝗲𝗽𝗼𝗿𝘁 𝗽𝗿𝗲𝘀𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻 – 𝗘𝗺𝗯𝗲𝗱𝗱𝗶𝗻𝗴 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗶𝗻 𝗱𝗶𝗴𝗶𝘁𝗮𝗹 𝗣𝗹𝗮𝘁𝗳𝗼𝗿𝗺𝘀 𝗮𝗻𝗱 𝗠𝗮𝗿𝗸𝗲𝘁𝗽𝗹𝗮𝗰𝗲𝘀: 𝘁𝗵𝗲 𝘃𝗶𝘁𝗮𝗹 𝗿𝗼𝗹𝗲 𝗼𝗳 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗶𝗻 𝗮𝗰𝗰𝗲𝗹𝗲𝗿𝗮𝘁𝗶𝗻𝗴 𝘁𝗵𝗲 𝗽𝗹𝗮𝘁𝗳𝗼𝗿𝗺 𝗮𝗻𝗱 𝗺𝗮𝗿𝗸𝗲𝘁𝗽𝗹𝗮𝗰𝗲 𝗲𝗰𝗼𝗻𝗼𝗺𝘆:  - Phil Hobson, Head of International Affinity at Marsh - Leonardo Cardone, Head of Strategic Partnerships at Sure 𝟰. 𝗞𝗲𝘆𝗻𝗼𝘁𝗲 – 𝗥𝗲𝘁𝗲𝗻𝘁𝗶𝗼𝗻 𝗼𝗿 𝗡𝗲𝘄 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗔𝗰𝗾𝘂𝗶𝘀𝗶𝘁𝗶𝗼𝗻: 𝗪𝗵𝗶𝗰𝗵 𝗣𝗮𝘁𝗵 𝗳𝗼𝗿 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗚𝗿𝗼𝘄𝘁𝗵? 𝟱. 𝗕𝗿𝗲𝗮𝗸𝗼𝘂𝘁 𝘀𝗲𝘀𝘀𝗶𝗼𝗻𝘀: - 𝗘𝗺𝗯𝗲𝗱𝗱𝗲𝗱 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗶𝗻 𝗥𝗲𝘁𝗮𝗶𝗹, led by Robert McCarthy, Non-Executive Chair at Embri and John Miller, Strategic Account Director at Quotall - 𝗘𝗺𝗯𝗲𝗱𝗱𝗲𝗱 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗼𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝗶𝗲𝘀 𝘄𝗶𝘁𝗵 𝗧𝗲𝗹𝗰𝗼𝘀, led by Daisy Qi Dong, Group Head of Product, Proposition and Head of Product and Pricing Europe at bolttech - 𝗘𝗺𝗯𝗲𝗱𝗱𝗲𝗱 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗼𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝗶𝗲𝘀 𝘄𝗶𝘁𝗵 𝗟𝗲𝗴𝗮𝗹𝗧𝗲𝗰𝗵 𝗰𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀, led by Grahame Cohen, Founder and CEO of Epoq Legal UK - 𝗘𝗺𝗯𝗲𝗱𝗱𝗲𝗱 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗳𝗼𝗿 𝗠𝗶𝗰𝗿𝗼 𝗘𝗻𝘁𝗲𝗿𝗽𝗿𝗶𝘀𝗲𝘀 𝗮𝗻𝗱 𝗦𝗠𝗘𝘀, led by Christian Gengler, Head of Partnerships at Hiscox 𝟲. 𝗣𝗮𝗻𝗲𝗹 – 𝗦𝗲𝗮𝗺𝗹𝗲𝘀𝘀 𝗣𝗿𝗼𝘁𝗲𝗰𝘁𝗶𝗼𝗻: 𝗜𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻𝘀 𝗶𝗻 𝗘𝗺𝗯𝗲𝗱𝗱𝗲𝗱 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗳𝗼𝗿 𝗔𝘂𝘁𝗼 𝗮𝗻𝗱 𝗠𝗼𝗯𝗶𝗹𝗶𝘁𝘆: - Pierre Stalla-Bourdillon, Head of Group Business Development & Partnerships – Motor at Generali - Nick McCowan, Head of Programmes and Operations for GB Affinity at WTW - Russell Fisher, COO Admiral Pioneer at Admiral Group Plc - Niall Barton, Executive Chairman at Wrisk And, of course, networking with light bites and refreshments to wrap up the event. #OpenInsurance #EmbeddedInsurance #Insurtech #Insurance #Technology