Episode description
Welcome to the latest edition of the Leadership in Insurance Podcast (The LiiP).
In this episode, we were joined by the brilliant Michael Crawford
Michael is the CEO and Co-Founder of Describe Data which uses AI and unique data sets to help insurance businesses make better sense of data and write more profitable portfolios.
In this conversation we talk about:
- The Lloyd’s Lab experience – how it evolved and how Describe Data might not now get in
- The importance of mentors
- How to productize an idea
- How feedback refines and defines the product
- The cultural shift in Insurance needed to adopt a product mindset
- How business mistakes become your real-world MBA
- Bootstrapping a good business lesson?
- Importance of speed in product development
- The gap in the market vs Market in the gap
- Smart money vs any money
- Timing of investment
- How you need to “give” as much as you take from your networking community
- Importance of having defined roles in the start-up team
- Healthy debate and its importance to C-founder relationships
- How Describe Data came out stronger from lockdown
- AI and its application to insurance
- Does Insurance need ML?
- Over expectation of technology from the incumbent industry
- Scaling technology solutions? Are the wins big enough?
- Is long term innovation possible in publicly traded businesses?
- Do we have the right leaders for innovation?
- Maturing ideas in Instech
So we covered a LOT of ground. This was great fun to record, Michael is a great guy and a good guest.
This is a fantastic podcast for people interested in tech/insurance and entrepreneurship.
This podcast was brought to you by FinPro an executive recruitment business that works in the Insurance and Instech space
Our host is FinPro Director, Alex Bond
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