Episode description
In today's episode of The Leadership in Insurance Podcast (The LiiP) I was lucky enough to be joined by Dr Marcus Schmalbach
https://www.linkedin.com/in/dr-marcus-schmalbach-02667746/
Marcus is the CEO and Founder of the Instech Ryskex.
Ryskex is an exchange model that utilises blockchain technology to offer parametric cover for hard to place and complex risks.
Marcus and I first engaged over some content online and have always had lively discussions about the Insurance market.
Marcus is a great guest and didnt disappoint with some interest viewpoints and commentary on the insurance market today.
In this episode we cover:
- Marcus's journey into insurance
- Salespeople as a feedback loop - their most important role
- The caution of solving problems that don't exist
- How the customer isn't always right
- Why go into academia?
- Where did Ryskex come from as an idea?
- How blockchain fits into insurance
- Parametrics and blockchain
- Fizzy and what we can learn as a use case https://www.axa.com/en/magazine/axa-goes-blockchain-with-fizzy
- How to "tokenise risk" to share the risk of an exchange
- How to set Veritas and triggers for a parametric solution
- The law of large numbers and where insurance fails
- The Challenge of reputation risk and what it means to associated risks and cost
- How financial markets are often better placed to provide bespoke, large solutions
- Alternative solutions do not exclude insurance market
- How the Lloyd's market will inevitably change and why it needs to
- Why change will be dictated by leaders we don't even know yet
- How change is driven by customers and technology
- Simplicity is the solution
And much more in between.
This I a really interesting chat with an engaging founder with a great business concept.
If you want to find out more about me: Alex Bond you can check me out on Linkedin https://www.linkedin.com/in/alexbondf...
FinPro is a talent consultancy to the Insurance, Reinsurance and Insuretech markets on a global basis, for more information visit our website
https://www.wearefinpro.com/ Look out for more episodes coming soon and please like and subscribe it really helps the channel out!
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