EP 58 – Nicolas Faquet – Founder & CEO Roojai.com – Within Minutes We Had to Decide

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Michael has previously worked for major international organisations including Morgan Stanley, Goldman Sachs, UBS and CitiGroup as well as supported and advised local tech giants like aCommerce and investors like Ardent Capital in Thailand. Since 2016, Michael has been running his media business hosting several tech podcasts in Asia.

Essec MBA, Actuary, 25 years of insurance experience in Asia and Europe, mainly in Motor and Health insurance, with AXA Singapore, AXA France, AIG Europe. A founding member of DirectAsia in 2009 as Group COO in charge of product, pricing, claims, call center, reinsurance and Hong Kong CEO. Sold DirectAsia to Hiscox for 55MUSD in March 2014. Started Roojai in December 2014.

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In this episode, Michael Waitze talks to Nicolas Faquet, the founder and CEO of Roojai.com. The two discuss the impact that COVID-19 has on the insurance industry and how the pandemic is forcing insurers to accelerate digital transformation. While most companies have developed some sort of Business Continuity Plan (BCP), hardly anyone is really prepared for a global pandemic. 

Roojai.com is selling auto insurance online which might be an advantage in times of COVID-19 compared to traditional insurance distribution channels but the startup has experienced a massive impact by the virus outbreak as well. On March 18th the company had a suspected case of COVID-19 and had, within 6h, to close the office and move the entire operation, including the call centre, to home-office.  

The company has managed to move its entire staff of approximately 200 people into remote work within days. While they are technically back to 100% capacity, Nicolas gives insight into the non-technical challenges of remote work. Working on joint projects and keeping the team spirit high requires more effort. The other challenge is working with partners online. Roojai works with many insurers and continuing to work on joint projects further increases complexity.   

If you would like to hear more from Nicolas, listen to the roundtable episodes we recorded with him at the AIR Motor Conference here and the startup Thailand panel here

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