EP 216 – Michail Chopra – Mayfair Group – A 30 Year Journey of Insurance Innovation

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Michael Waitze worked in Global Finance for more than 20 years, employed by firms like Citigroup, Morgan Stanley and Goldman Sachs, primarily in Tokyo.  Michael lived and worked in Tokyo from February 1990 until December 2011.  Michael always maintained a particular focus on how technology could be used to make businesses more efficient and to drive P/L growth. Michael is a leader in the digital media space, building one of the biggest and fastest-growing podcast listener bases in the region.  His AsiaTechPodcast.com show has listeners in more than 170 countries and his company, Michael Waitze Media produces some of Asia’s most popular podcasts.

Since 1991 Michail has been involved in developing and growing Mayfair Group into an international technology lead health benefits administrator. The company has offices in the UK, India, Singapore, The Philippines, Australia and have added local representatives in Malaysia, Thailand and Indonesia to be closer to our member base. Michails overall responsibilities range from dealing with our corporate relationships, corporate governance and structure, global operations/offices, growth planning and many other aspects of business that a CEO is responsible for. "I enjoy these daily challenges due to the fantastic family I have behind me at Mayfair."

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The Asia InsurTech Podcast spoke with Michail Chopra, CEO of Mayfair Group, and unveiled an in-depth exploration of the shifting terrains of the insurance industry, particularly through the lens of technology and empathetic cultural practices. 

Michail and his team leveraged technological advancements, transforming traditionally cumbersome insurance processes into a seamless, user-friendly digital experience. The journey starts from identifying a gap in the market for affordable insurance for IT professionals traveling abroad, leading to the development of innovative policies and a digital platform that prioritizes both functionality and user accessibility. 

Furthermore, the discourse delves into the intricate balance of integrating artificial intelligence in claims processing while maintaining a palpable human touch, emphasizing the role of empathy, especially in the expatriate context. The discussion also reflects upon the market potential within India’s burgeoning young populace and how Mayfair managed to navigate through the challenging waves of the COVID-19 pandemic. 

Michail underscores the potent influence of a compassionate and inclusive company culture, wherein the symbiotic relationship between the company and its “members” – not merely customers – catalyzes both its longstanding success and its humanitarian impact globally.

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