The Leadership in Insurance Podcast - Insurtech & Innovation

• New Episode Alert: AI in Insurance with Dr Magda Ramada, WTW

  This week on The Leadership in Insurance Podcast, I sat down with Dr Magda Ramada, Global InsurTech Innovation Leader at Willis Towers Watson (WTW). With over 20 years’ experience at WTW, for the past 12 years she has been solely focused on innovation, especially around digital transformation, advanced analytics, blockchain, emerging risks and Insurtech.In this episode, we discuss actionable data insights and practical applications of AI in insurance, with Magda emphasising the unique potential of generative and agentic AI to transform operating models and software development.Key Takeaways:🔄 The AI Evolution We've moved beyond traditional prediction models. Generative AI and transformer architectures are offering unprecedented opportunities through zero-shot learning and text generation. However, Magda was refreshingly candid about the limitations—AI agents aren't yet ready to handle complex pricing and claims independently.👥 Change Management is Everything Magda's insight really resonated: "If you don't manage change, then change doesn't happen." Her analogy of integrating AI like onboarding new interns is brilliant—it needs training, time, and patience. Employees must learn to accept machine errors as part of the process.🤝 Human + AI, Not Human vs AI Despite automation advances, Magda emphasised that complex judgements and human empathy will always require people in the loop. The future isn't about replacement—it's about augmentation.🛠️ Building AI-Ready Systems The focus should be on modularisation, API integration, and robust governance frameworks. Insurance carriers need to invest in testing AI tools tailored for specific tasks like data cleaning and claims processing.📚 The Unlearning Challenge Perhaps the most striking point: we all need to unlearn and relearn, even those approaching retirement. This isn't just about work—AI will affect every area of our lives, and it's our personal responsibility to adapt.I found this a thought-provoking conversation that balances optimism with pragmatism about AI's role in insurance now and in the future. Hosted on Acast. See acast.com/privacy for more information.

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• New Episode Alert: Finpro ITC Vegas Debrief 🎙️

  In our latest Leadership in Insurance Podcast episode, I sat down with the Finpro team for a debrief on ITC Vegas. This time I handed the mic over to Dan, who put Sophie and I through our paces on the key insights from the conference.What we covered:🚀 Innovation Across Regions Sophie noted the vibrant startup ecosystem in Vegas, with particular interest in companies like Anthea exploring psychedelics in healthcare—a topic underexplored in UK markets.💰 InsurTech Investment is Back After years of risk-averse, efficiency-focused investment, I spoke about the fact that we’re seeing larger rounds and renewed appetite for innovative products, new distribution methods, and AI technologies. The market is embracing risk again.🧠 The Talent Attraction Challenge As ever, Talent was a hot topic with a key focus on how AI is affecting recruitment. It’s a challenge, but I think attracting AI talent to our industry requires better storytelling. Instead of "Do you want to work in insurance?" try "Do you want to help solve climate change?" Frame the impact, not just the industry.🤝 Making Conferences Better Dan's first ITC Vegas was a success—meeting our placements in person was a highlight as was seeing the buzz about the industry in the room.But we identified room for improvement: · More impromptu meetings can be better than packing the diary before you go· Better representation of talent/recruitment perspectives on stage (especially from smaller companies who face different challenges),· More diversity among speakers representing different demographics to avoid the "same voices" phenomenonIt was fun to unpack ITC Vegas together—three different perspectives, one shared experience, and plenty of debate about what it all means for InsurTech's future. Hosted on Acast. See acast.com/privacy for more information.

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• "From Startup Founder to Insurance Innovation Leader: Hard Truths About InsurTech from IMA’s Garrett Droege"

  In our latest Leadership in Insurance Podcast episode, I sat down with Garrett Droege (SVP, Director of Innovation & Digital Risk Practice Leader at IMA Financial) for a fascinating discussion on InsurTech with some thought-provoking insights that challenge conventional thinking about insurance technology.With 20 years exclusively on the brokerage side, Garrett brings a unique perspective as a former startup founder and self-taught software developer. As both Innovation Lead and Digital Risk Practice Leader at IMA, his role sounds incredibly broad, but as Garrett says, both sides serve each other—you need wide ranging touchpoints across tech ecosystems to stay ahead in both innovation and risk.In this episode, we cover: Build vs. Buy Decision Framework: Garrett's approach is clear: build customer-facing proprietary solutions that differentiate your business and serve your customers, but make sure it works with existing technology. The POC Framework That Actually Works: Forget 12-month POCs that drag on and lose momentum. Garrett advocates for highly targeted, 45-60 day maximum POCs with clear KPIs and the right team selection upfront. His advice to founders? "You think you want a 12-month contract. You don't. Let's prove your platform works fast and furiously, or let's wait until you're ready."The Bold Take: Garrett’s view on how the industry has gone about InsurTech all wrong and allowed it to become a series of Band-Aids for the real problem: antiquated core systems from the 1980s and 90s that were built before APIs even existed. The result? Frankenstein workflows requiring 7-15 platforms to complete a single task, with 80% of users still working around the technology the same way they did 20 years ago.The AI Wake-Up Call: Despite AI being "transformational unlike anything we've ever seen" (and Garrett argues it's under-hyped), its promise is severely limited without access to core data systems. Garrett stated "You could build a fully agentic AI brokerage much easier than you could reverse engineer and retrofit an existing brokerage."The Investment Landscape: With 80% of recent Y Combinator and Broker Tech Ventures companies being AI-focused InsurTech solutions, the momentum is undeniable. The dot-com parallels are real—there will be winners and losers, and consolidation is coming.What Technology Can't Replace: Despite all the transformation, some challenges remain timeless: renewal management, client communication, trust-building. As Garrett notes, these require human expertise that AI augments rather than replaces.This conversation is essential listening for anyone in insurance, InsurTech, or risk management. The future of insurance isn't just about innovation—it's about getting the foundation right first. Hosted on Acast. See acast.com/privacy for more information.

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• AI, Innovation, and the Future of Claims: Insights from Heather Wilson, CEO of Clara Analytics

  🎙️ AI, Innovation, and the Future of Claims: Insights from Heather Wilson of Clara AnalyticsIn this week’s episode of The Leadership in Insurance Podcast, I’m excited to share my latest conversation with Heather Wilson, CEO of Clara Analytics. Clara Analytics’ AI Claims platform uses its models and data utilities to fully understand each claim, leading to positive outcomes for both claims professionals and customers alike.From Heather’s background in Fortune 50 companies, over 25 years’ experience of data analytics and driving innovation at scale, this episode dives deep into AI driven technologies and how that is impacting, and will continue to impact, Insurance Talent. In this episode, we cover:🤖 AI in Claims Management: How Clara Analytics' AI platform works post-first notice of loss to assess severity and optimise outcomes🏢 Innovation at Scale: We discussed the challenges and opportunities in leveraging legacy core systems while implementing new AI and data solutions in the insurance industry. Heather emphasised how freeing data from legacy systems is crucial for AI adoption.Build Vs Buy: We discussed the ongoing "buy vs. build" debate in the insurance industry and how the growing expectation for AI accuracy is impacting this decision for businesses.👥 Multigenerational Workforce Challenges: Heather discussed managing expectations across multi-generational teams with Gen Z, Millennials, Gen X, all having different experiences of technology.Knowledge Transfer: Heather spoke about how remote working has impacted Industry knowledge transfer to Gen Z and millennials from older, more experienced colleagues. We discussed how this best happens in a face-to-face environment and that businesses need to find a way to bridge this gap. As Heather powerfully stated “We need Gen Z to have Critical Thinking Skills as well as AI skills”💡 We also discussed how Talent Strategy needs to focus as much on redeploying experienced claims professionals, as well as attracting Gen Z talent from an AI or data background, and how the industry needs all these people to thrive.🔮 Looking Ahead to what’s on the horizon for Clara Analytics with a focus on agentic reasoning, a new approach to AI that leverages multiple data sources to enhance decision-making for claims adjusters. My key takeaways from this fascinating conversation with Heather: the insurance industry isn't resistant to innovation—it's navigating complex regulatory frameworks, legacy systems, and multigenerational workforces while embracing transformative change. Success requires respecting both the experience of seasoned professionals and the capabilities of emerging technology.#InsurTech #AI #ClaimsManagement #Insurance #Leadership #Innovation #WorkforceDevelopment Hosted on Acast. See acast.com/privacy for more information.

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• Meet the Insurance Company That Chose Build Over Buy—And Won Awards for It

  On this week’s episode of The Leadership in Insurance Podcast, I sat down with James Fairgrieve, Head of Innovation at Aventum to explore how their Innovation Lab has designed award winning technology to fit their unique business requirements.From James’ 25 years’ experience in technology, all the way from Y2K testing to UK FinTech innovator of the year 2025, this episode dives deep into the formula for creating an innovation space that delivers.In this episode, we cover: 💡How innovation isn't about lack of ideas - it's about needing structure. Before James had a dedicated innovation team, he kept a running list of ideas that he had no time to implement. Now it’s his primary focus.🔧 How choosing to build their own tech platform rather than buy off-the-shelf solutions has become a success story at Aventum. ⚖️ The challenges that businesses face when buying in systems that can’t be easily changed to fit business needs🔗 How you take something from proof of concept to becoming fully embedded across a business.⚡ How Aventum have created a culture of innovation throughout their whole business which enables ideas to be pitched from anyone 💻 The importance of making it fun. Activities that spark curiosity and gain employee buy in including game coding on lunchbreaks 🚀 Looking to the future and pushing the boundaries of what Agentic AI can achieve This episode is packed with insights for anyone passionate about innovation, technology, and creating a team culture where ideas are encouraged -and pushed through to completion. Give it a listen via the links in the comments below 👇👇 👇 👇 Hosted on Acast. See acast.com/privacy for more information.

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