Episode description
Welcome to episode 10 of the Leadership in Insurance Podcast.
In this episode, we are joined by Bob Frady of Hazard Hub
Hazard Hub is a 3rd party data supplier that boasts the most comprehensive property data ever assembled for the insurance industry and works with the industry and helps them to better understand their risk
Bob is a really interesting and engaging guy it was a pleasure to spend some time talking to him, we met through his involvement in Lloyd's lab.
In this conversation we talk about:
- Data quality and data skill within the insurance industry
- The difficulty of obtaining and accessing the right data Data efficiency and using data to distribute labour
- How ideas are free but that's the easy part
- The importance of end-user feedback early on and the benefits of MVP
- How VC money can be easier to get with an idea than actual revenue
- The importance of sharing ideas and not being too protective
- The slow sales cycle of the insurance market - you need the money or the stomach for the long haul
- Use of data analysis after the fact - the lunacy of that process!
- What the data says about rate rises - it isn't enough!
- The social dilemma around tailored pricing - people can be priced out
- The importance of asking the right questions
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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