January 08, 2023

Bob Reville: Co-founder and CEO, Praedicat: Turning risk into profitable and sustained growth (225)

38 minutes

There are some fascinating stories about companies that have existed for 10 years. At this point, almost every company will have found its product-market fit, be generating revenue and, in most cases, moved beyond start-up to scale up - but each of them will also have had to navigate through some tough headwinds and in many cases shift tack to identify what their clients really need.

Praedicat is one such company and Matthew Grant caught up again with Bob Reville, Co-founder and CEO.

With a mission to help insurers, and others, understand the emerging risks and potential litigation costs from substances that have the potential to be as expensive as asbestos is - Bob and his team reveal some of the hidden problems facing society, and insurers, in the years ahead.

But you don’t have to be a casualty underwriter, or even have any knowledge of liability insurance to find a lot of value from this discussion. We cover a lot.

Bob explains why a change of name from its original offering - as a casualty catastrophe model - got the attention of underwriters as buyers.

You will learn about the major new threat from “litigation finance”.

Hear about the three phases of emerging risks and what insurers can do about them - look out for “emerging interest, emerging damage and emerging litigation.”

Do you ever wonder how to determine the cost-benefit of the data, analytics, or technology you are buying or selling? Bob reveals some of the approaches and measurements that Praedicat uses to demonstrate the value to its clients of using its product, the Nekomodel X. (Nekomodel X - if you are wondering what it does - and where the name came from - we reveal that too.)

We’re delighted to have Praedicat as one of our corporate members at InsTech. Details of how to contact Bob and his colleagues are in the episode notes. If you are an insurer looking for technology partners - or building and selling your own solutions and are interested in membership, please contact me, Matthew Grant on LinkedIn or any of us - [email protected]

There is so much fascinating content in there, we’re going to be releasing this as a feature article in the near future so look out for that. In the meantime, to find out more about what we are doing at InsTech with our events, reports, articles and newsletters - and what we can do for you - head to www.instech.co.

If you like what you're hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn.

To find out more about InsTech, our membership and offerings visit www.instech.co or contact us [email protected]

Continuing Professional Development - Learning Objectives

InsTech is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech podcast or reading the accompanying transcript, you can claim up to 0.5 hours towards the CII member CPD scheme.

The Learning Objectives for this podcast are:

Describe some of the potential future issues affecting insurance industries and how to overcome the challenges

List some of the advantages rebranding a product can make a positive impact on a business

Explain some of the ways transparency and accuracy in underwriting can reduce churn rate

If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 225 page of the InsTech website or email [email protected] to let us know you have listened to this podcast.

To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey.

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