Episode description
Welcome to the latest edition of The Leadership in Insurance Podcast where we were lucky to be joined by Dr Avi Baruch.
Avi is the Co-Founder and COO of Previsico an early warning flood forecasting company that was borne out of Loughborough University. Although not exclusively an Insurance focused business Previsico were recent Lloyd's Lab participants so we wanted to find out about the Previsico story and its experience of working with the insurance sector.
In this episode we talked about:
- How Previsico was borne out of a university research project
- How to move an academic project to a business venture
- Avi's unlimited travel budget for "research"
- The university business dynamic - the difference with the US system
- Benefits of product creation from an academic standpoint vs profit-driven enterprise
- How the business has changed and the new talent required whilst moving from an academic endeavor to a business
- The benefits of external advisors
- How close ties to university helps attract talent
- The Lloyd's lab experience - applying too early! and the incredible co-creation
- The breadth of application for Proviscos early warning system
- Risk prevention rather than indemnification
- What Avi learned from the insurance industry
- Previsicos work with NGOs and governments
- Parametrics and identifying the right trigger on an evolving improving model
- Collaboration with other Insurtechs
Thank you to Avi for being a great guest.
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