“Insurance is about people helping people.”Susanne Møllegaard, CEO, Process Factory
Even when talking about InsurTech, this is still the case. No matter how many layers of technology you add to the insurance processes, it will, at its core, always be about empowering people to do what they do even better, for the benefit of the end consumer.
This is one of many excellent points made by our CEO Susanne Møllegaard in a conversation with Michael Waitze for the Asia InsurTech Podcast. Michael is the founder of Michael Waitze Media and has successfully built up a fast-growing base of engaged podcast listeners. The Asia InsurTech Podcast has listeners in 135 countries worldwide and is among the top 5% of the most shared podcasts globally on Spotify in 2022.
During the conversation, Susanne and Michael discussed some of the current trends in insurance. Susanne suggested that many insurers have adopted the InsurTech agenda, to the extent that some have become InsurTechs themselves, and they are now starting to embrace the open insurance agenda as well.
They also discussed the importance of localization for the insurance industry, since the local practice, processes, and third-party system integrations differ a lot from country to country. It is costly to underestimate the challenges when entering a new market either as a software vendor or as an insurer. That emphasizes the pivotal need for local market expertise.
Listen to the full podcast below.