FS Brew

Exploring Insurance Innovation with Koy Nien Lee, CEO of Protego Insurance | FS Brew PodcastWelcome to another episode of FS Brew, the region's first podcast dedicated to insurance and Insurtech in the UAE and the Middle East. In this episode, hosts Vidya and Renjit Philip sit down with Koy Nien Lee, the CEO of Protego Insurance, backed by RAK Bank. Koy shares his captivating journey from engineering in Singapore to leading Protego Insurance in the UAE, highlighting his goals to revolutionize the insurance industry through technology and customer-centric approaches. From leveraging AI for personalized customer experiences to discussing the unique challenges and opportunities in the Middle Eastern market, this episode is packed with insights for anyone interested in the future of insurance. Additionally, Koy delves into the importance of a strong leadership approach, the role of branding and influencers, and how embedded insurance can change consumer behavior. Tune in to hear thoughts on telematics, open APIs, and what's next for Protego Insurance. Don't miss the Rapid Fire Segment where Koy shares his personal interests and leadership philosophies. Stay tuned!00:00 Introduction to FS Brew Podcast00:22 Guest Introduction: Koy Nien Lee of Protego Insurance00:44 Koy's Journey into Insurance04:39 Protego Insurance and RAK Bank Partnership06:14 Operating Model and Strategic Drivers07:46 Affinity Marketing in the Middle East14:03 Leveraging Technology in Insurance26:20 Future Trends and Innovations31:04 Rapid Fire Segment36:56 Conclusion and Final ThoughtsRenjit Philip:Newsletter: ⁠⁠⁠https://www.onemorethinginai.com⁠⁠⁠Socials:Twitter / X: @renjitphilipLinkedIn: ⁠⁠⁠https://www.linkedin.com/in/renjit-philip⁠⁠⁠Vidya Veerapandian:⁠⁠⁠https://www.linkedin.com/in/vidya-veerapandian/⁠I've got a favour to ask! If you enjoy this conversation, please double check that you've liked the video and subscribed to the channel! That's a small way you can help us carry on doing this, really appreciate you!

Welcome to FS Brew, the UAE and Middle East's first podcast dedicated to insurance and Insurtech.In this episode, Renjit Philip and Vidya Veerapandian sit down with Jonathan Cooper, CEO and Founder of WIS Group (Worldwide Insurance Solutions).Jonathan shares his journey from working in claims at a local insurer to building an innovative Insurtech company offering travel, cyber, pet, and gadget insurance.We dive into: • The rise of personalized travel insurance • How AI is reshaping policy delivery • Trends in embedded insurance • Local market dynamics and expansion plans into Saudi Arabia and Europe • Building ancillary revenue streams for the travel sector • Jonathan's personal story of transformation and entrepreneurshipWhether you're in insurance, Insurtech, or just curious about the future of embedded coverage, this episode is full of insights.

Exploring InsurTech and Innovation with Sabine VanderLinden | FS Brew PodcastWelcome to the FS Brew Podcast, the UAE and Middle East's first podcast dedicated to all things insurance and InsurTech. In this episode, hosts Vidya, and Renjit are joined by Sabine VanderLinden, a renowned corporate strategist and current CEO of Alchemy Crew. Sabine shares her 25-year journey in the industry and discusses her work with Alchemy Crew, a venture lab focused on accelerating innovation in the insurance sector.The conversation dives deep into various topics including the evolution of InsurTech, the challenges of integrating startups into established insurers, and the role of AI in transforming the insurance industry. Sabine also touches upon the importance of planetary resilience in combating climate risk, the regulatory landscape, and how diversity and inclusivity can be fostered within the industry.For anyone interested in the future of insurance, InsurTech, and innovative business models, this episode is a must-watch. Tune in to gain insights from Sabine's extensive experience and her vision for the future of the insurance industry.01:24 Sabine's Journey into Insurance03:36 The Evolution of Accelerators and Alchemy Crew05:34 Corporate-Startup Collaboration Models12:11 AI in Insurance: Opportunities and Challenges16:53 Challenges in Corporate-Startup Integration19:14 Evaluating Venture Performance23:18 Climate Risk and Future Scenarios24:09 Navigating Capitalism and Sustainability24:54 Building Planetary Resilience25:30 Challenges in the Insurance Industry27:20 Public-Private Partnerships in Insurance28:00 Personal Leadership Journey30:35 Regulatory Influence on InsureTech33:55 Diversity, Equity, and Inclusion in Insurance39:14 Future-Proofing Insurance40:31 Rapid Fire QuestionsRenjit Philip:Newsletter: ⁠⁠⁠https://www.onemorethinginai.com⁠⁠⁠Socials:Twitter / X: @renjitphilipLinkedIn: ⁠⁠⁠https://www.linkedin.com/in/renjit-philip⁠⁠⁠Vidya Veerapandian:⁠⁠⁠https://www.linkedin.com/in/vidya-veerapandian/⁠I've got a favour to ask! If you enjoy this conversation, please double check that you've liked the video and subscribed to the channel! That's a small way you can help us carry on doing this, really appreciate you!

Innovations & Insights in Middle East Insurance with Howden's Richard Market | FS Brew PodcastIn this episode of FS Brew, hosts Renjit Phillip and Vidya Veerapandian welcome Richard Mockett, CEO of Howden Insurance Brokers for the Middle East and Africa. Discover how Richard transitioned from a DJ to a leader in the insurance industry, and delve into Howden's strategic expansion in the Middle East and Africa. The dialogue covers Howden's approach to cybersecurity and climate risk resilience, innovative insurance solutions like the Cyber Plus product, and the pioneering use of parametric insurance. Richard also discusses the role of AI in insurance, regulatory changes in the UAE, and Howden's vision for growth within the region. Whether you're an insurance professional or just curious about the industry, this episode is packed with valuable insights and forward-thinking strategies.00:00 Introduction to FS Brew Podcast00:28 Guest Introduction: Richard Mockett01:13 Richard's Career Journey02:26 Howden Insurance: Overview and Operations04:36 Expansion Plans in the Middle East and Africa07:14 Cyber Risks and Howden's Solutions12:05 Energy Sector and Climate Risk19:34 Supply Chain Risks and Red Sea War Risk Facility22:55 Impact of AI in Insurance26:06 Regulations and Market Changes in UAE29:03 Personal Lines and InsureTech34:49 Challenges and Vision for the Future38:03 Rapid Fire QuestionsRenjit Philip:Newsletter: ⁠⁠⁠https://www.onemorethinginai.com⁠⁠⁠Socials:Twitter / X: @renjitphilipLinkedIn: ⁠⁠⁠https://www.linkedin.com/in/renjit-philip⁠⁠⁠Vidya Veerapandian:⁠⁠⁠https://www.linkedin.com/in/vidya-veerapandian/⁠I've got a favour to ask! If you enjoy this conversation, please double check that you've liked the video and subscribed to the channel! That's a small way you can help us carry on doing this, really appreciate you!

Welcome to FS Brew, the UAE and Middle East's first podcast dedicated to insurance and InsureTech. In this episode, hosts Renjit Philip, a boutique consulting firm partner, and Vidya Veerapandian, founder of Forward, engage in a riveting conversation with Mr. Fareed Lutfi, the legendary Secretary General of the Emirates Insurance Association and Gulf Insurance Federation.With over 40 years of industry experience, Mr. Fareed Lutfi shares his journey into insurance, the pivotal roles of industry federations, and the future of insurance amidst digital transformation and AI integration. Gain insights on the critical challenges and potential growth areas in the GCC insurance market, and explore Mr. Fareed Lutfi's vision for youth engagement and technological advancements in the insurance landscape. Don't miss this comprehensive discussion packed with valuable lessons, industry trends, and inspiring stories from a true insurance veteran. Tune in now!Timestamps:00:00 Welcome to FS Brew: Introduction and Hosts00:32 Meet the Insurance Legend: Mr. Fareed Lutfi01:21 Mr. Fareed Lutfi's Journey into Insurance03:29 Role and Responsibilities of Insurance Federations07:07 Current Challenges in the Insurance Sector08:35 Opportunities and Growth Areas in Insurance12:24 The Impact of Technology on Insurance15:04 The Human Element in Insurance16:08 The Need for Regulatory Changes and Training18:09 Future of InsureTech and Industry Insights18:40 The Cost of Life Insurance Policies19:05 Regulatory Changes in the Insurance Industry20:13 Transparency and Open Finance21:55 Broker Regulations and Industry Adaptation22:18 Attracting Young Talent to Insurance25:33 The Historical Roots of Life Insurance28:01 Rapid Fire Questions with Mr. Fareed Lutfi33:17 Concluding Thoughts and ReflectionsRenjit Philip:Newsletter: ⁠⁠⁠https://www.onemorethinginai.com⁠⁠⁠Socials:Twitter / X: @renjitphilipLinkedIn: ⁠⁠⁠https://www.linkedin.com/in/renjit-philip⁠⁠⁠Vidya Veerapandian:⁠⁠⁠https://www.linkedin.com/in/vidya-veerapandian/⁠I've got a favour to ask! If you enjoy this conversation, please double check that you've liked the video and subscribed to the channel! That's a small way you can help us carry on doing this, really appreciate you!

The Future of Insurance: Digital Transformation, Social Media, and Innovation with Dr. Robin KieraWelcome to FS Brew, the first podcast in the UAE and the wider Middle East focused on insurance and InsureTech. In this episode, hosts Vidya Veerapandian, founder of Forward, and Renjit Philip, a consultant in M&A funding and go-to-market strategies for startups, sit down with Dr. Robin Kiera. Dr. Kiera is a prominent voice in the insurance industry, an advocate for its digital transformation, and the author of 'Attention Hacking: The Power of Social Media, Selling, and Insurance in Finance'. Join us as Dr. Kera shares his journey into the insurance world, offering valuable insights into how insurance companies can leverage social media to connect with customers, improve their marketing strategies, and engage a digitally savvy younger audience. Dr. Kera also discusses the challenges and opportunities in the German market, the role of InsureTech, and the importance of personal branding for industry leaders. Don't miss this in-depth discussion filled with actionable tips and strategic advice for insurance professionals and InsureTech enthusiasts.00:00 Welcome to FS Brew: Introduction and Hosts00:29 Meet Dr. Robin Kiera: Insurance Industry Expert01:14 Journey into Insurance: Dr. Kiera's Story02:47 The Power of Social Media in Insurance04:57 Challenges and Innovations in Insurance Marketing08:16 The German Insurance Market: An Overview12:30 InsureTech Landscape in Germany19:09 Challenges in Reaching Younger Customers20:55 Importance of Social Media for Executives21:42 The Role of Personal Branding24:51 Consumer Behavior in Germany and UAE28:14 Strategies for Midsize Insurers32:57 Rapid Fire Questions36:13 Conclusion and Final ThoughtsRenjit Philip:Newsletter: ⁠⁠⁠https://www.onemorethinginai.com⁠⁠⁠Socials:Twitter / X: @renjitphilipLinkedIn: ⁠⁠⁠https://www.linkedin.com/in/renjit-philip⁠⁠⁠Vidya Veerapandian:⁠⁠⁠https://www.linkedin.com/in/vidya-veerapandian/⁠

Insurtech Innovation & Collaboration: Insights from VC Expert Minh Q. Tran Welcome to FSBrew, the Middle East's premiere podcast on insurance and insurtech. In this episode, hosts Vidya and Ranjit Phillip speak with Minh Q. Tran, a seasoned venture capitalist with over 25 years of experience in tech and finance, particularly focusing on Insurtech, FinTech, and PropTech. Minh leads Mandalore Partners which specializes in corporate venture capital as a service, helping insurance companies strategically invest in innovative startups. The discussion delves into multiple topics around startup funding and collaboration within the insurance industry, emphasizing the importance of revenue generation, market fit, product competitiveness, business model, and team expertise. Insights on the dichotomy between disruptive and collaborative startups, adoption of AI, and the evolving landscape of Insurtech form key parts of the conversation. Minh shares his views on the emerging trends in Insurtech, the hurdles imposed by regulatory challenges, and specific collaboration models that have found success. He also highlights reinsurance opportunities in the Middle East and explains how startups can better navigate local regulations for expansion. In the rapid-fire round, Minh talks about the impact of blockchain technology, his investment strategies, and valuable advice for aspiring Insurtech entrepreneurs. Don't miss out on hearing about Minh's proudest investments and the critical traits he looks for in a founding team. Tune in for a comprehensive and enlightening discussion packed with actionable insights ideal for Insurtech enthusiasts, entrepreneurs, and industry professionals! 00:00 The Importance of Revenue in Startups 00:43 Introduction to Fsdru Podcast 01:06 Guest Introduction: 02:50 Understanding Corporate Venture Capital as a Service 06:49 Challenges and Benefits of Internal CVCs 10:58 The Role of AI in Insurance 13:31 Evaluating Insurtech Startups 16:49 Investment Strategies and Regional Focus 20:36 The Importance of Collaboration in Insurtech 21:29 Navigating Regulatory Challenges in Europe 23:37 Scaling Strategies for Insurtech Startups 26:37 Insights on Investment and Innovation 30:13 Rapid Fire: Quick Insights and Advice #vc #insurance #insurtech #europe #corporate

Join us on FS Brew, the UAE's first podcast dedicated to insurance and Insurtech in the Middle East, as co-hosts Vidya Veerapandian and Renjit Philip engage in a deep conversation with Ayman El Hout, CEO of Marsh McLennan in the Middle East. With over 40 years of industry experience, Ayman provides insights into his career journey, the evolution of Marsh McLennan in the region, and the future landscape of the insurance sector. Key topics include the importance of AI, the challenges of medical inflation, climate risk, and the potential of tokenization as a future disruptor. Also, get a sneak peek into Ayman's leadership style, future plans for 2025, and some rapid-fire fun. Don't miss this episode packed with valuable lessons and forward-thinking perspectives on the insurance industry. 00:00 Welcome to FSBrew: Introduction and Hosts 00:28 Guest Introduction: Ayman Elhout, CEO of Marsh McLaren 00:49 Ayman's Journey into Insurance 02:32 Marsh McLennan's Achievements and Client Focus 04:20 Insurance Awareness and Industry Challenges 06:01 Regulatory Landscape in the Middle East 08:22 Attracting Talent and the Role of AI in Insurance 12:52 Climate Change and Renewable Energy Initiatives 16:51 Dubai Reins and Risk Mitigation 19:43 Global Risks and Misinformation 21:53 Navigating Career Challenges and Leadership Lessons 22:35 The Importance of Passion and Continuous Learning 23:58 Rising Costs in Medical Insurance and Solutions 27:31 Innovation and Insurtech in the Insurance Industry 30:09 The Future of Tokenization in Insurance 32:02 Leadership Reflections and Future Plans 33:17 Rapid Fire: Insights and Personal Preferences Renjit Philip: Newsletter: ⁠⁠⁠https://www.onemorethinginai.com⁠⁠⁠ Socials: Twitter / X: @renjitphilip LinkedIn:  ⁠⁠⁠https://www.linkedin.com/in/renjit-philip⁠⁠⁠ Vidya Veerapandian: ⁠⁠⁠https://www.linkedin.com/in/vidya-veerapandian/⁠

In this episode of F S Brew, Vidya and Renjit interview Hasham Piperdy, GM of KSA and Director at Badri Consultancy, discussing the remarkable growth in the KSA insurance market. Hasham shares insights into the factors driving this growth, from an industry valuation of around 36-37 billion in 2020 to a staggering 64 billion last year. This includes the role of regulatory changes, successful campaigns to insure more drivers, and the potential of renewable energy projects. The conversation also covers the impact of advanced data collection methods, climate risks, and future market opportunities. Join us as we delve into the dynamics shaping the KSA insurance landscape. 00:00 Introduction to FSBrew and Hosts 00:32 Guest Introduction: Hasham Pippurdi 00:54 Role and Journey at Badri Consultancy 02:25 Growth and Profitability in KSA Insurance Market 07:02 Impact of Regulatory Changes and Data on Underwriting 11:19 Market Share and Investment Income 17:01 Climate Risk and Natural Catastrophes 19:33 Regulatory Innovations and Centralized Systems 24:27 Pricing Trends and Future Prospects 30:24 The Impact of IFRS 17 on Loss Visibility 32:20 Saudi Arabia's Non-Motor Insurance Market 36:53 The Rise of Insurtech in Saudi Arabia 41:54 Addressing Climate Risks in Saudi Insurance 48:51 Challenges for Smaller Insurers in Saudi Arabia 54:24 Rapid Fire: Insights and Reflections Renjit Philip: Newsletter: ⁠⁠⁠https://www.onemorethinginai.com⁠⁠⁠ Socials: Twitter / X: @renjitphilip LinkedIn:  ⁠⁠⁠https://www.linkedin.com/in/renjit-philip⁠⁠⁠ Vidya Veerapandian: ⁠⁠⁠https://www.linkedin.com/in/vidya-veerapandian/⁠

Digital Transformation in Insurance: Insights from Dark Horse Digital Solutions In this episode of FSBrew, we sit down with the team from Dark Horse Digital Solutions, including Naren, Kishore, and Utkarsh, to delve into their journey and perspectives on digital transformation. They discuss the founding of Dark Horse, the evolving role of IT in business, and the significance of change management. The conversation spans across different sectors with a particular focus on the nuances of digital transformation in the insurance industry. They also shed light on challenges such as legacy systems, customer data integration, and compliance. Finally, the team provides insights into the future trends and the importance of designing for change. #DigitalTransformation #InsuranceIndustry #DarkHorseDigitalSolutions #FSBrew #Technology #BusinessProcessManagement #AI #CustomerExperience00:00 Introduction to FSBrew and Dark Horse Digital Solutions 00:18 The Origin and Evolution of Dark Horse Digital Solutions 01:03 Understanding IT and Change Management 01:55 The Role of Applications in Business 06:24 Challenges in Digital Transformation for Insurance 15:57 Comparing Digital Trends Across Geographies 20:24 Approaches to Large-Scale Digital Transformation 25:26 Demystifying User-Level Challenges 25:46 The Importance of Culture in Large-Scale Projects 26:05 Frameworks and Structures in Digital Implementation 27:13 Open Banking and Open Insurance in the UAE 28:14 The Role of Technology and Openness 32:35 Security and Compliance in Open Architectures 33:26 Designing for Change in Digital Transformation 36:26 Future of Digital Transformation in Insurance 41:43 Customer-Centric Approaches and Technology 44:30 Final Thoughts on Transformation and Partnership Renjit Philip: Newsletter: ⁠⁠⁠https://www.onemorethinginai.com⁠⁠⁠ Socials: Twitter / X: @renjitphilip LinkedIn:  ⁠⁠⁠https://www.linkedin.com/in/renjit-philip⁠⁠⁠ Vidya Veerapandian: ⁠⁠⁠https://www.linkedin.com/in/vidya-veerapandian/⁠

FS Brew: Exploring UAE's New Broker Regulations and Insurtech Innovations In this episode of FS Brew, hosts Vidya and Renjit discuss the latest in the UAE's insurance and Insurtech landscape. They delve into new broker regulations issued by the Central Bank of UAE, focusing on premium collections and outsourcing rules that aim to bring stability to the industry. The hosts also spotlight emerging Insurtechs such as LookInsure and Shory, highlighting their innovations and market strategies. Additionally, they review global Insurtech funding trends, the performance of reinsurance companies, and interesting technological applications in climate risk management. Tune in to get insights and analysis on these critical developments in the Middle East insurance sector. 00:00 Introduction to FS Brew Podcast 00:58 Hot Topic: New Broker Regulations in UAE 06:53 Employee Benefits and Market Insights 10:12 Spotlight on Regional Insurtechs 15:17 Global Insurtech Funding Trends 18:41 Reinsurance Industry Performance 21:39 Innovative AI Solutions in Insurance 23:21 Conclusion and Listener Engagement

In this episode of FS Brew, we sit down with Gabriel Lazaro, EVP at Chubb Overseas General, overseeing APAC, EMEA, and LATAM regions. Gabriel shares his journey into the insurance industry, the role of Chubb Studio in the group's strategy, and the evolving insurtech landscape. We cover diverse topics, including: - Gabriel's transition from marketing to insurance - The role of Chubb Studio in embedded insurance and partnerships with insurtechs - How embedded insurance is gaining traction in banks & fintechs across regions - Innovative insurance solutions for e-commerce - Leadership evolution and navigating challenges at Chubb Plus, Gabriel shares personal insights on managing adversity, career lessons, and future goals for Chubb Studio. Rapid Fire Round: Gabriel answers quick questions on leadership, favorite travel spots, tech innovations, and more!

Navigating the Insurance Industry with Ken Maw: Insights and LeadershipWelcome to FS Brew, where we dive into the world of insurance and Insurtech in the UAE and the broader Middle East. In this episode, hosts Renjit Philip and Vidya Veerapandian interview Ken Moore, Managing Director at Al Futtaim Willis. With over four decades of experience in the #insurance sector, Ken shares his unique journey from working in the food industry to becoming a key figure in insurance. He discusses the evolution of the industry, the role of trust in building client relationships, and the impact of technological advancements like generative AI on the future of insurance. Ken also touches on his leadership style, the importance of regulatory compliance, and his vision for the future of Al Futtaim Willis. Tune in for an insightful conversation packed with #industry wisdom and forward-looking strategies.00:00 Introduction to FSBrew00:49 Meet Ken Moore: Career Journey03:49 Role of an International Insurance Broker06:48 Leadership and Trust in Insurance08:44 Blogging and Banking Insights13:06 Strategic Goals and Insurtech17:22 Generative AI and Future Risks24:40 Regulatory Landscape and Compliance32:35 Advice for Aspiring CEOs36:43 Rapid Fire QuestionsRenjit Philip:Newsletter: ⁠⁠⁠https://www.onemorethinginai.com⁠⁠⁠Socials:Twitter / X: @renjitphilipLinkedIn: ⁠⁠⁠https://www.linkedin.com/in/renjit-philip⁠⁠⁠Vidya Veerapandian:⁠⁠⁠https://www.linkedin.com/in/vidya-veerapandian/⁠

In this episode of FSBrew, the Middle East's premier podcast on insurance and insurtech, we sit down with Sarbvir Singh, Director & Joint Group CEO of PB Fintech (and PolicyBazaar), India's leading insurance marketplace. Sarbvir shares his journey from investment banking to leading one of India's most successful insurtech companies. He offers unique insights into PolicyBazaar's growth story, from its startup roots to becoming a publicly listed entity. Discover how PolicyBazaar is leveraging AI and data science to enhance sales productivity and manage risk. Sarbvir discusses the delicate balance between growth and profitability in the competitive insurtech space, and the company's strategic expansion into physical distribution through its POSP model. We explore the evolving Indian insurance market, regulatory landscape, and PolicyBazaar's vision to move "from transactions to trust." Sarbvir emphasizes the importance of customer experience, employee satisfaction, and strong partnerships with insurers. Whether you're an insurance professional, tech enthusiast, or aspiring entrepreneur, this episode offers valuable insights on innovation, leadership, and building a customer-centric business in a rapidly evolving market. Join hosts Vidya and Ranjit as they unpack the strategies and philosophies driving one of India's most innovative insurance platforms. Tune in for an enlightening discussion on the future of insurance and digital transformation in the industry. Renjit Philip: Newsletter: ⁠⁠⁠https://www.onemorethinginai.com⁠⁠⁠ Socials: Twitter / X: @renjitphilip LinkedIn:  ⁠⁠⁠https://www.linkedin.com/in/renjit-philip⁠⁠⁠ Vidya Veerapandian: ⁠⁠⁠https://www.linkedin.com/in/vidya-veerapandian/⁠ --- Send in a voice message: https://podcasters.spotify.com/pod/show/fsbrew/message

INNOVATING FOR GEN Z & MILLENNIALS

In this insightful episode of FS Brew, Arijit shares his diverse experience spanning from being a corporate lawyer to leading InsurTech ventures. Discover: ✅ The story behind CoverGenius' cutting-edge embedded insurance solutions for digital giants like Booking.com, eBay, and Shopee. ✅ How CoverGenius leverages AI, NLP, and data science to revolutionize pricing, product innovation, and claims processing. ✅ Arijit's leadership lessons and advice for insurance professionals aspiring to thrive in the InsurTech space. ✅ The future of embedded insurance and the exciting possibilities of IoT-powered, usage-based insurance models. ✅ Rapid-fire insights on work-life balance, inspiring leaders, and Arijit's favorite city to travel. Join us for an engaging conversation that explores the intersection of insurance, technology, and entrepreneurship. Like, subscribe, and share your thoughts! @covergenius #InsurTech #EmbeddedInsurance #CoverGenius #Innovation #Leadership --- Send in a voice message: https://podcasters.spotify.com/pod/show/fsbrew/message

In this in-depth podcast interview, insurance legal expert Anand Singh from Al Tamimi & Co. discusses the major new insurance regulations introduced in the UAE in 2023. He provides insights into the context, impacts and implications for insurers, brokers and the overall insurance ecosystem. Key Topics: 1. The 2023 UAE insurance regulations cover basic governance, risk management, business planning, ombudsman - areas where 60% of the market may not be fully compliant currently. 2. Upcoming Open Finance regulations could drive digitalization and integration of insurers' systems, increasing data sharing and enabling new product innovation. 3. New rules enhance protection of policyholders' medical data and require robust cybersecurity measures from insurers. 4. Higher capital requirements for branches (previously only subsidiaries) and potential licensing changes could drive market consolidation. 5. Reversal of COVID-era 50% motor insurance premium discounts has improved profitability after initial pricing competition. 6. For insurtechs, the choice of mainland vs free zone depends on B2B vs B2C model and brand-building plans. 7. Ombudsman regulation for consumer disputes could be a game-changer for policyholder protection. 8. Premium collection remains a major challenge, with insurers sometimes forced to deduct premiums from claims paid. 9. Regulatory reforms like advance premium collection could catalyze market growth. 10. Open Finance is seen as the most exciting potential innovation for increasing insurance awareness and penetration. 0:00 Intro 2:28 Overview of 2023 UAE insurance regulatory changes 4:13 Rationale behind basic governance, risk management rules 6:59 Potential impacts of upcoming Open Finance regulations 12:09 Regulations on medical insurance data protection & cybersecurity 15:19 New capital and licensing requirements 19:34 Reversal of COVID-era 50% motor insurance discount 22:47 Considerations for insurtech startups: mainland vs free zone 28:31 Policyholder protection and ombudsman regulations 31:29 Premium collection challenges & wishlist for regulatory reforms 36:39 Most exciting innovation: Open Finance 38:20 Rapid fire Q&A Renjit Philip: Newsletter: ⁠⁠⁠https://www.onemorethinginai.com⁠⁠⁠ Socials: Twitter / X: @renjitphilip LinkedIn: ⁠⁠⁠https://www.linkedin.com/in/renjit-philip⁠⁠⁠ Vidya Veerapandian: ⁠⁠⁠https://www.linkedin.com/in/vidya-veerapandian/⁠ #InsuranceLaw #UAERegulations #Insurtech #OpenFinance #Ombudsman #DataProtection #CapitalRequirements #Startups #LegalInsights --- Send in a voice message: https://podcasters.spotify.com/pod/show/fsbrew/message

Hosts, Vidya Veerapandian and Renjit Philip review four news pieces from the UAE insurance industry: - HAYAH Insurance's app called TRIBE BY HAYAH- a great move by the team, creating a more comprehensive 'fintech' proposition starting with term life, medical insurance, and savings-linked investment products - Sukoon Insurance and WAX partnership- opening up a whole new way of segmenting target audience with a differential proposition- (

This episode provides an in-depth look at the journey of Mohab Aboueita, co-founder and CEO of Amanleek, a digital insurance brokerage in Egypt, and his insights into the insurance and InsurTech industry. The discussion covers Mohab's accidental entry into the insurance sector, the foundation of Amanleek, challenges faced in scaling the business, strategies for customer acquisition, co-founder dynamics, and the importance of resilience and grit in entrepreneurship. It highlights Amanleek's approach to addressing the underserved insurance market in Egypt, its experiences with funding rounds, and the company's future focus. Additionally, the episode touches on the broader trends in the Middle East's insurance industry, including digital transformation and customer-centric product innovations. The conversation is packed with practical advice for startups, from managing co-founder relationships to navigating fundraising challenges. Renjit Philip: Newsletter: ⁠⁠⁠https://www.onemorethinginai.com⁠⁠⁠ (https://www.onemorethinginai.com/) Socials: Twitter / X: @renjitphilip LinkedIn: ⁠⁠⁠https://www.linkedin.com/in/renjit-philip⁠⁠⁠ Vidya Veerapandian: ⁠⁠⁠https://www.linkedin.com/in/vidya-veerapandian/⁠ --- Send in a voice message: https://podcasters.spotify.com/pod/show/fsbrew/message

A wide randing conversation with Shady El Tohfa, the CEO of Amenli, a digital broking company in Egypt. Key learning opportunities for an Insurtech founder in the Middle East include: 1. Recognizing the low insurance penetration in the region as an opportunity for digital disruption. 2. Understanding the importance of regulatory compliance and adapting to local insurance laws. 3. Leveraging existing technologies and platforms to build efficient solutions. 4. Focusing on customer education to increase awareness and trust in digital insurance products. 5. Tailoring insurance products to suit the unique needs and preferences of the regional market. 6. Building a strong team with diverse skills, including tech, finance, and insurance expertise. 7. Prioritizing data security and privacy to build customer trust. 8. Developing a clear and sustainable business model. 9. Embracing innovation to stay ahead in a rapidly evolving sector. 10. Establishing robust investor relations and effective fundraising strategies. Renjit Philip: Newsletter: ⁠⁠⁠https://www.onemorethinginai.com⁠⁠⁠ Socials: Twitter / X: @renjitphilip LinkedIn:  ⁠⁠⁠https://www.linkedin.com/in/renjit-philip⁠⁠⁠ Vidya Veerapandian: ⁠⁠⁠https://www.linkedin.com/in/vidya-veerapandian/⁠ --- Send in a voice message: https://podcasters.spotify.com/pod/show/fsbrew/message

In this episode, we spoke to Rob Schimek, the Group Chief Executive Officer of bolttech, the fast-growing international insurtech. He is responsible for the company's development and growth around the world. Before starting bolttech, he held leadership roles with AIG, FWD, and Deloitte, and has an MBA from Wharton School. Rob spoke about the evolution of bolttech, and the varied strategic decisions taken, including their stakeholder mix and acquisitions of companies, as reasons behind its exponential growth rate! Given BoltTech's presence in over 35+ markets, we also discussed the strategies Rob employs to manage and adapt to different regional market dynamics and navigate regulatory challenges. We also discussed bolttech's distribution strategy and the current revenue models- 1] the embedded and 2] the insurance exchange. Must listen episode for insurtech founders looking to navigate the start-up landscape ! --- Send in a voice message: https://podcasters.spotify.com/pod/show/fsbrew/message

In this episode of FS Brew, we explore trending insurance sector stories in the United Arab Emirates (UAE) and Saudi Arabia (KSA). Topics include significant employee benefit changes in the UAE, developments in unemployment insurance, the implications of the BOTIM app acquisition, and the introduction of e-monitoring for car insurance in KSA. The episode also gets into a discussion on the exciting potentials of Gen AI's application to insurance underwriting. Lastly, we delve into the fresh rebranding of RSA Middle East to 'Liva' and a tie-up between Zurich and DIFC Innovation Hub. --- Send in a voice message: https://podcasters.spotify.com/pod/show/fsbrew/message

Here's the podcast drop of our interview with Preeti Mundhra, CEO of Tree

Sure, here are some more details about the key highlights and learnings from the interview with Avinash Babur: Focus on the customer. Avinash says that InsuranceMarket.ae has built a strong reputation by listening to customers and constantly improving their products and services. For example, the company regularly surveys its customers to get feedback on their experiences. This feedback is then used to make changes to the company's products and services. As a result, InsuranceMarket.ae has a high customer satisfaction rate. Be innovative. Avinash believes that innovation is essential for any business that wants to stay ahead of the competition. He talks about how InsuranceMarket.ae has used technology to improve the customer experience and make it easier for people to buy insurance. For example, the company has developed a mobile app that allows customers to buy insurance on the go. This app has been very popular with customers, and it has helped InsuranceMarket.ae to attract new customers. Build a strong team. Avinash says that no entrepreneur can succeed without a strong team behind them. He talks about the importance of hiring the right people and creating a positive work environment. For example, InsuranceMarket.ae has a strong culture of collaboration and innovation. This culture has helped the company to attract and retain top talent. Here are some more details about the advice that Avinash gives to entrepreneurs: Don't be afraid to fail. Avinash says that failure is a natural part of the entrepreneurial journey. He encourages entrepreneurs to learn from their mistakes and keep moving forward. For example, Avinash himself failed several times before he succeeded with InsuranceMarket.ae. He says that these failures taught him valuable lessons that helped him to succeed in the long run. Be patient. Avinash says that success doesn't happen overnight. He encourages entrepreneurs to be patient and persistent in their pursuit of their goals. For example, it took Avinash several years to build InsuranceMarket.ae into a successful business. He says that it is important to stay focused on your goals and not give up, even when things get tough. Don't give up. Avinash says that the most important thing for entrepreneurs is to never give up on their dreams. He believes that anyone can achieve anything they set their mind to. For example, Avinash had a dream of starting his own business since he was a child. He never gave up on his dream, and he eventually achieved it. Overall, Avinash is an inspiring entrepreneur who has built a successful business from the ground up. His story is a testament to the power of hard work, dedication, and innovation. If you're thinking about starting your own business, Avinash's advice is invaluable. --- Send in a voice message: https://podcasters.spotify.com/pod/show/fsbrew/message

FS Brew has been speaking to #venturecapital firms interested in #insuranceand #insurtech space to know more about what it takes to pique their interest.In this episode, we spoke with Shwetank Verma, Co-Founder and Managing Partner at Leo Capital and Co-Founder of India Insurtech Association. He is passionate about insurance and has been championing the cause of insurtechs in his current and previous roles. His VC firm, Leo Capital, invests in some of the leading insurtechs, such as Covergenius, so it was super insightful to know more about what it takes to build a solid insurtech start-up and scale.  We spoke in-depth about the following:

The emergence of Chat GPT and AI technologies has brought about a revolution in the insurance industry. These tools offer promising solutions to the complexity of data-driven insurance operations. Chat GPT, a large language model, can create chatbots that can process claims, answer customer inquiries, and even underwrite policies. AI, on the other hand, can assist insurers in analyzing data, identifying patterns, and making informed decisions about pricing and risk. The integration of these technologies can significantly enhance customer service, reduce costs, and increase efficiency. It can also improve insurers' ability to manage risk, resulting in more accurate pricing and profitable underwriting. The applications of Chat GPT and AI in the insurance industry are numerous. Chat GPT can automate the underwriting process, freeing up underwriters to tackle more complex cases. AI provides valuable insights to insurers about risk and assists in making informed decisions. Chat GPT can also automate the claims process, resulting in faster claims processing and improved customer satisfaction. Additionally, it can create chatbots that are available 24/7 to answer customer inquiries, reducing expenses while improving customer service. The potential of Chat GPT and AI to revolutionize the insurance industry is enormous. These technologies can make insurance more efficient, effective, and customer-centric. They can personalize insurance products and services, prevent fraud, and drive innovation in the industry. In summary, the benefits of Chat GPT and AI in insurance are significant, and insurers must consider these tools' potential to improve their operations. --- Send in a voice message: https://podcasters.spotify.com/pod/show/fsbrew/message

FS Brew has been speaking to #venturecapital firms interested in #insurance and #insurtech space to know more about what it takes to pique their interest and get the fund in! In our first chat with a #venturecapital firm, we spoke with Ahmed Elgabri, an investment professional from Shorooq Partners, a leading #abudhabi based #vc firm with offices across #MENA and #pakistan. It was a super insightful conversation, and we even got to know the whole application process for an insurtech start-up to apply for investment and their turnaround time. We also spoke about the following:

Here's our latest podcast episode with Gautam Datta from Watania Takaful! When we interviewed him a few weeks back, the freshly merged Dar Al Takaful PJSC and #Watania entity were on the verge of revealing their new name, which he makes reference to in the interview. We had a great time speaking to him about a no. of things, ranging from: 

Happy Women's Day! 

In our latest episode, we spoke with Mohamed Seghir, CEO of HAYAH Insurance, UAE's recently branded insurance company that specializes in life, medical, and savings.   It was a delightful chat as we dug deeper into how Mohamed Seghir went about rebranding and redesigning the organization which was previously AXAGreen Crescent, before AXA Gulf's exit from the region. We spoke about HAYAH's ideal customer and the behaviors which drive their digital strategy, trends that are shaping the life & health insurance market, how AI shapes their product strategies, and how a cool & young organization cannot be run by one cool person or a single 'cool' department.

FS Brew spoke with Lars Gehrmann from QIC Digital Venture Partners and got exclusive details about the #MENA-wide #startup challenge they recently launched!   We also spoke to him about the gaps in the insurance ecosystem in the region for innovative insurtechs to take shape here and what is QIC Digital Venture Partners doing to fill those gaps. Through this #startup challenge leading up to a summit that is to take place in May this year, the selected start-ups will get access to RI capacity, venture-building support, and access to talent, amongst others! Listen in to learn more about this exciting #challenge! --- Send in a voice message: https://podcasters.spotify.com/pod/show/fsbrew/message

In our first episode of #FSBrewInternational for 2023, we speak with the passionate and exuberant, Rohit Nambiar, Group CEO of Tune Protect, based in KL Malaysia! This interview was a playbook on how to run an insurance company that is 'fit-for-purpose' in all aspects- customer, employee, business strategy, culture, partnerships...you name it, Rohit had clear views on what it takes to run a successful D2C and a parallel, flourishing B2B components of the business! Some of the things we've spoken in length are: - Tune Protect's Business model- their D2C proposition, reinsurance business which is spread across 60 countries and a white-labelled tech which is even present in the Middle East and used by leading airlines and travel agents! - Their D2C proposition in ML is focussed on Gen Z and millenials and hence their major workforce are from this generation! - Their work culture is to keep it 'fun and uncomfortable'...yes, uncomfortable! - Their laser focus since Rohit took over the business during COVID 2020, their NPS score for the employees has moved from -20 to +20 and the customer NPS score has moved from -14 to +38! - Moving away from traditional metrics like GWP, NEP, they track 4 key metrics closely- no.of customers added per month, are they buying more products, are they staying longer with Tune Protect and finally, is the average premium growing - Secret sauce- their digital capabilities and their ability to turn around a product to market in matter of days versus months taken by typical insurers - their role in Middle East and future plans - Interesting products such as consignment insurance and 14 variations to travel insurance product! --- Send in a voice message: https://podcasters.spotify.com/pod/show/fsbrew/message

UAE Insurance Market: 2022 Roundup and 2023 Predictions. Today we have a very special episode on how 2022 has been for the insurance companies in the UAE so far and potentially what that means in terms of how we will be ending the year and setting the tone for 2023. Has 2022 been one of the worst years for the insurers? Will 2023 be any different? To answers some of the burning questions, we have with us Navin Ghorawat, who is a senior manager at Badri Consultancy. Navin, in a recent event, spoke about the UAE Insurance market performance and drivers & findings. And we simply had to get him online to chat with us more about it. --- Send in a voice message: https://anchor.fm/fsbrew/message

In FS Brew's latest HYPE episode, we deep dive into Open Insurance to understand:   - What is open insurance? - Who are the suitable partners who can benefit from open insurance - International examples & use cases - Business and technology readiness to build open insurance capabilities - Product lines and sectors that make sense for the region to benefit from open insurance  - Finally, the all-important regulations required to bring this concept to life!   #openinsurance #fsbrew #insurance #insurtech #embeddedinsurance --- Send in a voice message: https://anchor.fm/fsbrew/message

Here's our interview with Walid Daniel Dib, Co-founder, and CEO of Hala Insurance, the OG millennial insurtech founder from the #UAE!  We spoke with Walid on many nuances and factors involved in running an agile insurance start-up brand like Hala: 

Here's our #newswithanalysis episode after long!

Here's our #FSBrewInternational interview with Andy Ann, CEO of YAS MicroInsurance based in #HongKong. Fascinating conversation and a must-watch for all #insurers aspiring to target or innovate to attract #genz and #millennials as their audiences.  We spoke extensively on many aspects of a customer lifecycle and innovation including:  

We spoke to Roopa Malhotra- Head of Customer & Digital, APAC, Zurich Insurance Group  LinkedIn: https://www.linkedin.com/in/roopamalhotra  APAC is a hugely diverse, exciting and complex landscape to manage with each country having its unique strengths and opportunities. We dug deeper into what it takes to drive digital transformation in the region, building on insurtechs innovation and incumbent's distribution strengths to build a solid insurance business, the importance of people focus a key sauce to success and much more!!   Roopa Malhotra is the Head of Customer & Digital, APAC for Zurich Insurance Group, and became a member of the Zurich Regional Committee in March 2022.  Ms. Malhotra is responsible for driving the digital strategy across the region with customer-focused propositions across channel partners and digital ecosystem players.  Before joining Zurich Group, Ms. Malhotra was Head of Digital for Chubb Insurance in the Asia Pacific. Over the years in the industry, she has gained well-rounded expertise in different aspects, including Natural Catastrophe risk management, digital product development, and partnership management.  Ms. Malhotra started her career in India as a financial analyst with the leading hedge fund - D.E. Shaw Group, before entering the insurance industry and holding positions with AIG and MSIG.   A passionate Diversity and Inclusion champion, Ms. Malhotra was also recognized as one of the rising female leaders in the region by Insurance Business Asia in 2021.  Ms. Malhotra holds an MBA in Finance with certifications in design thinking for innovation, and she is currently pursuing a Postgraduate Certificate in Sustainable Business from the University of Cambridge. She also actively volunteers at organizations like ‘All Hands and Hearts' for disaster relief and Singapore's ‘Alzheimer's Disease Association' and is a fitness enthusiast.  #asia #zurich #motorinsurance #fsbrew #claims #insurance #lifeinsurance #healthinsurance --- Send in a voice message: https://anchor.fm/fsbrew/message

In our first episode of #FSBrewInternational, we spoke with Nicolo Robba from Lifepal. Lifepal is the no. 1 B2C #insurance #aggregator in #indonesia. Nicolo Robba is an e-commerce leader in the South East Asia region, and has held senior roles within Alibaba.com and Lazada previously before co-founding Lifepal. Listen in to Nicolo as we dig deep into what it takes to create a leading insurance brand in one of the most dynamic countries in the world and fastest-growing insurance market (expected to reach $58bn by 2025). They have a very strong customer value proposition and its success is evident in their whooping 536K followers on Instagram and 9 million monthly visitors to their #website- a feat that is tough achieve for any insurance brand! --- Send in a voice message: https://anchor.fm/fsbrew/message

We caught up with Wilson Varghese, General Manager and Head of Operations, Zurich Middle East, part of Zurich Insurance Group.  Wilson spoke in length about the Customer Benefits report recently released by Zurich Middle East and the relevance of this report in order to raise awareness about #lifeinsurance and #BeBetterPrepared. We also spoke about the incredible changes within the health insurance space, the various #trends like #wearables and #tech that are shaping the industry and how an incumbent insurer like Zurich Insurance are gearing up to these changes! We even got to dig deeper into his roles and responsibilities and how keeping the insurance promise- 'claims experience' remains at the heart of his role.  If you are keen to read about Zurich Middle East's Customer Benefits report, click here: https://lnkd.in/drsqHicb --- Send in a voice message: https://anchor.fm/fsbrew/message

Check out our interview with wellx.ai founders, Vaibhav Kashyap and Javed Akberali! wellx.ai is the newest #healthinsurance brand in the UAE, rewarding its customers for leading a #healthylifestyle. We spoke in length about:

Lars Gehrmann is the Group Chief Digital Officer of Qatar Insurance Group and Head of QIC Digital Venture Partners, a new digital organization with an aim to build and invest in digital ventures, the InsurTech ecosystem, and international partnerships while transforming the way Qatar Insurance Group operates digitally. Lars and the team have injected renewed energy into the region's insurance ecosystem with MENA's 1st Insurtech Hackathon, where the top 6 finalists will pitch in the grand finale at the MENA Insurtech Summit which is being held in Doha on 23rd June!  We spoke to Lars about the QIC Digital Venture Partners, the need for it, the process behind to set this up and the feedback received so far! We also spoke in length about the methodology QIC Digital Venture Partners employs to select and mentor an insurtech start-up.  Every aspiring insurance entrepreneur or anyone interested in the changing trends of the ecosystem should listen to this crisp podcast! Again, we bring to you an audio-only episode for a quick, on-the-go listen!  #insurance #insurtech #hackathon #uae #dubai #doha #qatar --- Send in a voice message: https://anchor.fm/fsbrew/message

Here's our latest podcast episode, a power-packed conversation with Frederik Bisbjerg, Executive Director- Digital & Innovation with Daman - National Health Insurance Company! He's a well-known personality within the insurance industry and has specific and workable tips and insights into running a successful, digital-first insurance business in the region. Amongst a host of things, we spoke about: 

We caught up with Tanja Magas, Chief Data and Analytics Officer at Democrance, a UAE- founded #insurtech with the mission to digitalize the value chain for insurers, brokers, and distribution partners.  Tanja digs deep into her role as the Chief Data Officer which involves a multi-layered strategy; she also spoke in length about how insurance is the best-poised industry to utilize the power of advanced ML technology to mitigate fraud.  We also discovered the many service offerings Democrance currently provides, apart from its original offering of #microinsurance.   If you consider yourself a data geek or you are an aspiring data officer, this is the podcast you should not miss!

Here's the much-awaited interview with LAVANYA MUNDAYUR, Chief Executive of The New India Assurance Co. Ltd., Dubai. We spoke in length about various nuances within the #UAE and #India's insurance landscape and much more:

In this episode of HYPE, hosts, Renjit Philip and Vidya Veerapandian discuss #NFTs- what are they; their growing popularity within the region, specifically #dubai becoming a hub (no surprises there!) and the progress made so far within the global insurance sector to 'insure' NFTs. It is an evolving and exciting subject and we at FS Brew think it is one to watch out for! Let us know if you think #NFTs are hype or not! And more importantly, should #insurers in the region quickly cater to this asset?

Here's our conversation with the young, ambitious, and promising duo- Matthieu Etourneau and Talal M. A. from Royal Technologies Limited! They firmly believe to have cracked a profitable distribution strategy for #petinsurance and created a product that will be loved by the people of UAE and soon, the wider GCC. The 'wifi gods' were not with us during the interview, but the chirpy birds in the background and fantastic insights kept us going through this conversation. Listen in to the full interview to know more about:

Here's the much-awaited podcast with our guest, Hatim Maskawala, Managing Director, Badri Management Consultancy.  Hatim spoke with us candidly on many pressing topics that need #insurance industry's attention:  

Excited to share FS Brew's special interview with Neeraj Gupta, CEO of Policybazaar UAE!   Neeraj gave us many insights about PolicyBazaar and its DNA, which continues to shape the way they work.  We spoke in-depth about: