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Inspire Insurtech Interviews: Blue Zebra Insurance

March 3rd, 2021 Posted by Members, News 0 thoughts on “Inspire Insurtech Interviews: Blue Zebra Insurance”

The Inspire Insurtech Interview’ series is designed to inspire fellow insurtechs. We want to share who they are, what they do, and what we can expect from them in the future.

This month we are talking to Colin Fagen, Managing Director of Blue Zebra Insurance. Enjoy!

 

Tell us Blue Zebra Insurance’s brief pitch.

Blue Zebra is an Insurtech Managing General Agency (MGA) that focuses on assisting brokers to efficiently deliver advice models to their customer base. Our organisation delivers tech-led change through our purpose-built portal so that we can continually improve and adapt to compete. We strongly believe that brokers should have a greater share of the Personal Lines market and continue their dominance in the SME market in Australia. Blue Zebra want to play a key role in facilitating this.

So how did Blue Zebra Insurance begin?

Our team is a mix of extremely experienced insurance professionals and tech-savvy individuals who have a strong belief that our industry needs to significantly change to compete for the future. The large established insurers in Australia all have major issues with legacy systems, and their priorities for investment are primarily their direct to market businesses. We identified this gap in the market and thought through how to take on the large corporates. This is achieved primarily by creating an extremely efficient system that accesses external data sets from a number of sources to prefill underwriting questions and then provide a number of quote options for brokers that match various segments of society.

One of our themes when initially launching Blue Zebra to the broker market was that `Your partners of today will not necessarily be your partners of tomorrow.’ We have seen this play out in February, with a major insurer withdrawing their capacity for Personal Lines to the broker market.

How has Blue Zebra Insurance evolved since its inception?

I think that the best way to describe our evolution would be to say that `Change is a Constant.’ Our strategy has always been to roll out our products in a MVP (Minimum Viable Product) form and quickly look to adapt through constant feedback from our brokers. We initially focused on creating Personal Lines products in the first year, with our Commercial products developed in the past six months. We have now delivered seven products to the market:

– Householders, Landlords and Private Motor
– SME Business Insurance, Commercial Motor, Cyber and Personal Accident & Sickness (through `Blue Point’)

In the three and a half years since Blue Zebra sprang to life, we have had more than 50 system upgrades, signed up more than 380 broker organisations comprising 10,500 users and typically have more than 1000 brokers transacting with us each and every day.

In addition, it was always our intention to focus strongly on the automation of our own business processes. As we have scaled, we have built technology to support finance, claims, underwriting and analytics. Aside from the service benefits to our broker and insurer partners, in the end, this means our cost base is set up to compete well in the long term with more established insurance businesses.

What is your team currently working on for 2021, or what have you accomplished recently?

During the past 12 months, we have changed our primary underwriter relationship. This has involved a great deal of pricing calibration, as we have significantly changed our risk appetite and target markets while looking to improve the underwriting result of our Personal Lines portfolio.

We are now completing our platform rebuild, which has been planned for some time. This will be seamless as far as our clients are concerned. This upgrade will enable real-time changes to our platform in a number of areas, including underwriting questions, referral rules, new data fields, documentation, pricing and our product suite.

Our technology is already being utilised by carefully selected insurance businesses via Platform as a Service (PAAS). Our offering is quick and cost-effective to deploy, and this re-platforming will enable our PAAS to be expanded to help deliver their products to market within 30 days.

How does Blue Zebra Insurance give back?

The central tenant of our business philosophy is to have constant communication with our clients – our brokers – to enable their best opportunity to compete for tomorrow. We will often look to adapt our methods and technology to improve a broker’s operations. Our experimentation and continual investigation are designed to provide our brokers with the opportunity to grow their organisations and customer base.

What is Blue Zebra Insurance’s biggest challenge in today’s market?

The market always delivers challenges, and the more dynamic it is, the better, in our view. There are a number of challenges developing on different time horizons. We have relentlessly driven digital delivery, with the foundation stone of effective use of external data. This has been supplemented by AI/machine learning techniques being employed in our back-office activities. This is critical for us to be able to compete with the multi-distribution insurers, who are driving more innovation into their direct businesses, in a relative sense. Our ability to drive forward is occasionally slowed by the delivery systems at the brokers’ end, so one of our challenges is working closely with their technology and delivery plans in order to jointly compete at the same speed.

Anything else you’d like to say that we didn’t ask?

Thanks for the opportunity to share our journey so far – we see it as just the beginning of something big!

Thank You.

March Newsletter

March 3rd, 2021 Posted by Members, News, Newsletter 0 thoughts on “March Newsletter”

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Inspire Insurtech Interviews: Stella Insurance

February 11th, 2021 Posted by Members, News 0 thoughts on “Inspire Insurtech Interviews: Stella Insurance”

The Inspire Insurtech Interview’ series is designed to inspire fellow insurtechs. We want to share who they are, what they do, and what we can expect from them in the future.

This month we are talking to Renee Cosgrave, General Manager of Stella Insurance. Enjoy!

 

Tell us Stella Insurance’s brief pitch.

Stella is a female-first, purpose-driven business, created by women, for women. Stella is building a community to educate, support and empower females to balance the gender bias in matters such as insurance – and life at large.

Starting with Car Insurance, Stella designs products and customer experiences that prioritise the needs and lifestyles of women. Ultimately though, our purpose is much bigger than changing the insurance game. Our plan is to change the game, full stop.

So how did Stella Insurance begin?

It’s long been a frustration of our founder – Sam White that in the UK she was not able to appropriately reward women for their better driving abilities (due to the EU directive on gender discrimination in insurance), so the opportunity to launch a female-centric Insurtech in Australia has been the realisation of a long-term passion. Sam partnered with Envest and Are Media to bring Stella to life.

I was bought on by Sam and the team in the early days of Stella’s inception to create the proposition and launch Stella to market. The brand and offering were built in collaboration with our female customers to (hopefully) give them a much more intuitive and rewarding experience when it comes to car insurance.

How has Stella Insurance evolved since its inception?

Since launching in July 2020, the key evolutions the team have focused on have been driven by our customer’s feedback. We have spent time understanding who our customer is, what their needs are and how we can best tailor our experience to suit them.

This has already driven changes across aspects such as branding, messaging, product, and user experience. We have some exciting changes that will start to roll out over the next 3 months.

What is your team currently working on for 2020, or what have you accomplished recently?

2021 is a big year for Stella, and we’re in Phase 2 build of our platform with our tech partner Aventus as our first book of renewals are fast approaching. We are also working on a bunch of new and exciting campaigns, plus a new product launch in the second half of this year.

How does Stella Insurance give back?

Stella exists to be a purpose-driven business with a vision to change the game for women beyond the insurance. We’re conscious of the wider, unique challenges for women. So we’re partnering with organisations that are ensuring women get the educational assistance they need along with actionable change they seek.

Stella has formed a long-term partnership with the Women’s and Girls Emergency Centre (WAGEC). Stella and WAGEC aim to empower individuals and communities to end gender-based violence in a generation. Our partnership will focus on supporting women through donation drives and volunteering, amplifying their voices through education, knowledge, and awareness to take action, and finally to empower women through mentorship and primary prevention initiatives.

In addition, Stella has a long-term goal to support 10 female-founded start-ups by 2025 through our Stella Squad program, which we’ve committed a portion of our profits to fund this program. We believe that a world with more female-led businesses will empower women for generations to come. I’m personally excited to see the program evolve this year as we build out the Stella Squad community and engage with like-minded female entrepreneurs.

What is Stella Insurance’s biggest challenge in today’s market?

With the space being dominated by two major insurers, ’ getting a share of voice and building trust and credibility as a challenger brand is a key focus for the team at Stella. However, we feel our purpose and proposition lends itself incredibly well to cutting through a very traditional market to connect with our female audience.

Thank You.

February Newsletter

February 11th, 2021 Posted by Members, News, Newsletter 0 thoughts on “February Newsletter”

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Inspire Insurtech Interviews: BeThere Group

December 9th, 2020 Posted by Members, News 1 thought on “Inspire Insurtech Interviews: BeThere Group”

The Inspire Insurtech Interview’ series is designed to inspire fellow insurtechs. We want to share who they are, what they do, and what we can expect from them in the future.

This month we are talking to Grant Beck, CEO and Co-Founder of BeThere Group. Enjoy!

 

Tell us BeThere’s brief pitch.

BeThere™ is an Australian Insurtech startup and the first all-in-one reality capture solution, providing virtual tours and associated documentation to insurance companies, restorers, builders and other relevant service providers, as well as clients. Every tour gives you an immersive 3D space with high-resolution images and detail that traditional photos can’t deliver.

BeThere™ can also assist with documenting safety audits, risk identification and workplace emergency response planning. Whether you’re looking for an overview of a catastrophe, a pre-policy documentation scan or a simple audit tool, BeThere™ can support your needs.

So how did BeThere begin?

BeThere was a true beer coaster of an idea. While working on a drone pilot program with a previous insurance employer, I met Simon Wojcik our COO, and we spoke over dinner at a remote pub in Broken Hill on how these types of technology can help insurance incumbents provide clear and concise digital evidence of damage be it pre-existing or event-related.

During our progression from idea to MVP, I was able to pilot the solution on several large Fire scene investigations; and managed to achieve a $250,000 saving from one fraudulent claim and many recoveries claims was aided by the ability to review the entire fire scene long after it been demolished.

How has BeThere evolved since its inception?

BeThere started as 2 men and a camera, and now we have captured 1000’s of spaces for all sorts of industries. From abattoirs to airports and from buildings built-in 2020 to hidden tunnels constructed in 1912.

There is not much BeThere hasn’t been able to capture. In 2019 the rapid growth and success of BeThere earnt both Simon and I to become finales in the Brisbane 2019 Young Entrepreneurs awards. We didn’t take home the win, but to be nominated was an achievement we both were humbled to have received.

Today we are spread across several industries from Real Estate and Childcare to Insurance and Investigations.

What is your team currently working on for 2020, or what have you accomplished recently?

Currently, we are working closely with our partners to push bigger and better than ever in the digital capture space and also other emerging technologies that will help support and train the next generation of the workforce in a post-Covid world.

Covid shook a lot of us up at the beginning with the uncertainty of what was to come. Still, now with people working from home, business reopening, people are turning to this sort of technology for support to reach people digitally and we see the befits to areas not even we thought possible.

A recent key project piece is about to go live for Open Sydney 2020 with the launch of our St James Tunnels project being released to the public.

This was a dream of Simons to be able to capture an iconic piece of Sydneys History and to spend 9 days underground completing the project was something I don’t think either of us will forget.

How does BeThere give back?

BeThere is an Autusim approved provider and have been providing digital spaces for people who have Autism to being to interact with spaces they will come into contact within a safe and secure environment before being introduced into the real world space. We have seen amazing results in this space and a passion Simon is heavily focused on.

Me personally I’ve been a member of the NSW Rural Fire service for almost 15 Years and most recently spent many weeks on the Gospers Mountain mega-fire helping in a variety of different roles from ground operations to remote area fire fighting and liaising with the community to provide up to date information.

What is BeThere‘s biggest challenge in today’s market?

Adoption – We have found people are scared to make the first step, trail the product, and see the long term benefits. In the current Covid lockdown, we have found people have been forced to adapt to technology, and Insurtech solutions are leading the way in this transition.

We hope that this trend keeps pushing forward for all Insurtechs to be able to showcase our solutions and how they can help all facets of Insurance.

Anything else you’d like to say that we didn’t ask?

BeThere is keen to chat with anyone who thinks this sort of technology could be put to use in their space. Feel free to reach out at Simon@bethere.net.au or Grant@bethere.net.au. Thanks to Insurtech Australia for the ongoing support and look forward to expanding into 2020 and 2021.

In the meantime to have a look at everything BeThere offers head over to https://bethere.net.au/

Thank You.

December Newsletter

December 9th, 2020 Posted by Members, News, Newsletter 0 thoughts on “December Newsletter”

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Inspire Insurtech Interviews: Advisr Pty Ltd

November 3rd, 2020 Posted by Members, News 1 thought on “Inspire Insurtech Interviews: Advisr Pty Ltd”

The Inspire Insurtech Interview’ series is designed to inspire fellow insurtechs. We want to share who they are, what they do, and what we can expect from them in the future.

This month we are talking to Andy Jamieson, CEO and Founder of Advisr Pty Ltd. Enjoy!

 

Tell us Advisr Pty Ltd’ brief pitch.

Advisr helps SMEs find and connect with an insurance broker they can trust. Advisr is a platform designed to give brokers and brokerages complete control and the ability to reach customers online.

So how did Advisr Pty Ltd begin?

I’ve been involved in digital marketing for over 20 years. Including founding and exiting a digital marketing agency called Switched On. Switched On worked with several finance and insurance companies, generating hundreds of millions in revenue and GWP. When I sold that business to WPP, I realised I wanted to build a finance platform, and Advisr was born.

Digital marketing seems simple, but digital gets more and more complex. Advisr helps to make it easy to reach customer online, showcase your team and share your areas of deep expertise.

How has Advisr Pty Ltd evolved since its inception?

Advisr has taken a few pivots as we’ve learnt about the insurance industry and identified challenges participants faced, aligned with different service provides and focused in on enabling insurance brokers to reach more customers more quickly and easily in our digital world.

What is your team currently working on for 2020, or what have you accomplished recently?

At the end of 2019, we identified the need to re-platform. So the first half of 2020, we rebuilt Advisr from the ground up and launched Advisr in May 2020. Since the relaunch, our audience has grown, making us the fastest growing website for SMEs looking for an Insurance Broker in Australia, and we’re continuing to accelerate up 20% quarter-on-quarter.

We’ve launched great functionality, that sits on top of our API, to enable customer reviews on Advisr to be embedded into insurance brokers websites. If you are a broker utilises WordPress – then the Advisr Toolbox is a must-have.

How does Advisr Pty Ltd give back?

We educate insurance brokers on digital: Recent Webinars we ran in collaboration with YIPs had about 150 members sign up to learn about digital marketing and building their personal brand. If you want to see the material, check out our YouTube channel. If you need help on digital, please reach out and connect.

We support Insurtechs: I’m lucky to serve on the board of Insurtech Australia. If we, IA, can do more to support you, drop me a note, and I’ll see how I can help.

We support Opportunity International: Our team are deeply aligned with OI. OI is a Not-For-Profit that provides microfinance loans to nearly 6 million clients based in India, Philippines and Indonesia. I love giving back and making an impact and am lucky to serve on the OI board. During that service, I’ve learned the value in giving back to those who find themselves in tough situations.

What is Advisr Pty Ltd’s biggest challenge in today’s market?

The flight to digital has accelerated in 2020, bringing us years ahead in a matter of months. We’re here to partner with Insurance Brokers and love enabling your businesses to thrive in this new digital world. The insurance expertise that insurance brokers bring to customers has never been more valuable, and now is the time to share and educate customers via digital.

Anything else you’d like to say that we didn’t ask?

2020 has not been an easy year. If you’re finding it tough and don’t have anyone you feel comfortable to reach out too, then reach out to me. I’d love to meet you and support you; however, I can. I’m always available.

Thank You!

November Newsletter

November 3rd, 2020 Posted by Members, News, Newsletter 0 thoughts on “November Newsletter”

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Annual General Meeting 2020

October 27th, 2020 Posted by Members, News 0 thoughts on “Annual General Meeting 2020”

The Insurtech Australia AGM will be held at 9:00 am AEDT on Thursday, 26th November 2020 virtually via Zoom Video Conferencing platform.
Forms are now available for Nomination as Director and Consent to Act (click here) and Proxy Form to nominate a representative to attend and vote directly on your behalf (click here).

Inspire Insurtech Interviews: Agile Underwriting Services

October 1st, 2020 Posted by Members, News 1 thought on “Inspire Insurtech Interviews: Agile Underwriting Services”

The Inspire Insurtech Interview’ series is designed to inspire fellow insurtechs. We want to share who they are, what they do, and what we can expect from them in the future.

This month we are talking to Ben Webster Co-Founder of Agile Underwriting ServicesEnjoy!

Tell us Agile Underwriting Services’ brief pitch.

Agile is a niche insurance product manufacturer. As a Lloyds Coverholder and MGA, we combine traditional underwriting processes with digital distribution and product development.

We specialise in Accident & Health, Aviation, Casualty, Cyber & Drones, Financial Lines, Property and Retail Travel. We’re adding more lines over the next six to twelve months.

So how did Agile Underwriting Services begin?

The co-founders at Agile came together to scratch an itch. All of us had first-hand experience with frustrated customers who were square pegs being shoved through round holes by big insurers. We had also experienced the torturous process of developing niche products within these environments.

We wanted to solve this problem by creating an agency where we had the freedom to create niche products to service these customers.

Robin, Nick and Ben also knew that automation and digital distribution was the key to grow and scale the business. Data is at the centre of this approach and provides the foundation for managing our pricing loss ratios and developing trust with our capacity partners.

How has Agile Underwriting Services evolved since its inception?

We started with a single line of business, Aviation, and a veteran underwriter in Mike Dalton and expanded by adding each line of business. To begin with, these lines were siloed, but we now have enough binders in place to mix and match to develop bespoke products to target specific distribution opportunities.

Our platform has reached a tipping point from a technical and distribution point of view with hundreds of brokers using our platform each day.

What is your team currently working on for 2020, or what have you accomplished recently?

2020 has been a rollercoaster year, and we’re proud that we’ve continued to grow each team and each line of business throughout 2020 (with the exception of retail travel). When COVID hit in March, we had thousands of insured travellers overseas, and we’re proud to have serviced each and everyone in a personalised and efficient way.

Our product backlog is choc-full, and we’ll be releasing a suite of new small business focussed products over the next 3-6 months and expanding into new territories.

 

How does Agile Underwriting Services give back?
Agile has launched an incubator program to help innovative Insurtechs navigate the tricky path to launching a product. We’re already seeing some great successes with the launch of Hustle Cover, Audit Cover and the imminent launch of upcover.

Thank You!

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