The Asia InsurTech Podcast spoke with Terence Ho, Chief Commercial Officer at Nanoinsure, and delves into the evolution of the insurance industry in Hong Kong, especially its digital transformation.
A significant highlight was the development of a self-configuration platform by a bootstrapped company, leading to significant growth in their revenue. This platform enabled the creation of tailored insurance products, particularly for FWD insurance companies. A standout technological advancement discussed was the conversion of Excel spreadsheet logic into a database through an API, an innovation that boosts efficiency and minimizes errors.
Additionally, the episode touches upon the developments in InsurTech, such as the creation of offline digital sales platforms and the incorporation of a microservices architecture. Terence shares the journey of establishing a tech company, shedding light on the challenges faced, the importance of customer trust, and the significance of maintaining a transparent and supportive company culture. The overarching message is clear: for startups, the focus should remain on the product, the customers, transparency, and delivering on promises.