IN-the-Know

The IN-The-Know: The C-P-C-U Society Unscripted Teaser Trailer

Nigel Walsh is a Partner in the Financial Services Technology Practice Group at Deloitte UK, based in London. Nigel is a leader in the insurtech global movement and the host of the Insurtech Insider Podcast. Nigel is on a mission to make insurance loveable. In this week’s episode, Nigel shares a 10-year forecast as to how the insurance industry will shift as we begin to get autonomous cars and a more health-conscious population.

Key Takeaways

• A bit about Nigel and his background.
• What does Nigel do for Deloitte and how did he get here?
• How has the insurance industry evolved over the last couple of years? When is insurance not insurance?
• Traditionally, insurance has been there during a crisis or an event. As we go forward, insurance will be there before the event.
• Where is insurtech headed in the next three years?
• Nigel shares some of the challenges he foresees the space having.
• In 2030, how will the industry be different?
• Health insurance is going to change dramatically. We all want to live healthier lives and we will use customized data to see how to achieve that.
• How does Nigel aim to make insurance loveable?
• People just don’t want to engage with their insurance. This is why it’s critical to change the way insurance professionals engage with their customers.
• What does Nigel wish he learned sooner about his industry?
• New to the industry? Go exploring. There’s so much to do in this space.

Keep Getting Better

• Cpcusociety.org
• Deloitte.com
• Insurtech Insider Podcast
• Nigel on LinkedIn

Quotes

• “No one gets up in the morning dying to buy insurance. Doesn’t happen. But, they do get up and go, ‘How do I buy a house?’, ‘How do I get from A to B?’”
• “We know the world will not move or go ahead in the way we know it today without insurance.”
• “It’s all going to shift. It’s a question of is that going to happen in the next 10 years or not? My gut feel says in the motor space and mobility space, absolutely yes.”

Chris Madsen is the Head of the Global Underwriting Center at Aegon, which is based in the Netherlands. He is a certified Actuary, CFA, and has expertise in Insurtech, Internet of Things, and Blockchain. Chris is also the Co-Founder and Chairman of BlueSquare RE N.V., Aegon’s internal reinsurer. In this episode, we learn about Chris’s intentional background and how it has helped him succeed in his current role with Aegon.

Key Takeaways

• A bit about Chris and his background.
• Chris highlights his experience and how it has helped him with international business and cultures.
• Should you go back to school to pursue your advanced degree?
• Chris breaks down how he manages the big data he receives and his process for making sense of it all.
• Where does Chris see big data going in the next three years?
• Chris shares upcoming challenges he sees in the industry.
• What have been some of the key lessons Chris has learned throughout his career?

Keep Getting Better

• Cpcusociety.org
• Aegon.co.uk
• Chris on LinkedIn

Quotes

• “Data, in and of itself, is a huge challenge. Sometimes we think it’s a fixed quantity, where we can just take the data, analyze it, and then we’re done. Of course, it’s never that simple.”
• “Data is almost never in the format that you want it in. it’s almost never in a single environment.”
• “We’re moving to a product space that’s more personalized. There are many reasons for this — one, consumers want it. We’ve gotten used to everything tailored to us.”