Summary:

In this episode of Insurance Unplugged, host Lisa Wardlaw speaks with Austin Przybysz, CTO of Instruxi, about the intersection of Web3 technology and the insurance industry. They discuss the importance of decentralized data, the role of Mesh SDK in bridging Web2 and Web3, and the significance of HTAP databases in enhancing data security and interoperability.

The conversation also covers the concepts of immutability, intent and consent in data management, and the potential for low to no ETL models to revolutionize data processing.

Austin emphasizes the need for ethical data sharing and the future of smart contracts in insurance, concluding with a call to action for the industry to embrace these emerging technologies.

Takeaways:

Web3 represents a shift towards user ownership of data.

Decentralized data can enhance security and scalability.

HTAP databases streamline data operations and improve security.

Immutability ensures trust in data systems.

Intent and consent are crucial for ethical data management.

Low to no ETL models reduce complexity and costs.

Smart contracts can transform the insurance industry.

Data marketplaces can ethically distribute data.

Monitoring data processes is essential for security.

The insurance industry must break the status quo.

Sound Bites:

"We're on the bleeding edge of Web2 and Web3."

"Consumers want to own their data."

"HTAP allows complex workloads in one location."