EP 59 – Chris Bayley – Cover Genius – Focusing on the Big Chicken

13 Apr 2020Posted By Michael Waitze

Host

Michael Waitze

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 130 countries and his company, Michael Waitze Media produces some of Asia’s most popular podcasts.

Guest

Chris Bayley

Chris Bayley is the Co-Founder and Chief Innovation Officer of Cover Genius, one of the fastest growing InsurTechs globally. Cover Genius has received dozens of awards within insurance and tech circles for its patent-pending platform and global capability that ensures user-centricity throughout the entire customer journey, an approach that has led to global partnerships with, amongst others, Booking Holdings (NASDAQ:BKNG). Prior to starting Cover Genius, Chris was one of the first few employees in Google's Sydney office where he managed the insurance team.

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In this episode, Michael Waitze talks to Chris Bayley, the Co-Founder and Chief Innovation Officer of Cover Genius. Prior to starting Cover Genius, Chris was one of the first few employees in Google’s Sydney office where he managed the insurance team. While Cover Genius has started in Australia in 2014, the company has now offices in New York, London, Tokyo, Seoul, Singapore, San Francisco, Amsterdam, Kuala Lumpur, Manila and Sydney and counts some of the world’s largest e-commerce companies including Booking Holdings, among its partners.

Michael and Chris discuss the acceleration of InsurTech in recent years. While back in 2014, most VCs had no experience with startups in the insurance space, the sector is one of the hottest today. InsurTechs can help create a smoother customer experience and reinvent insurance distribution while insurance incumbents often lack the knowledge on how to implement and leverage technology.

Chris gives insights into different forms of insurance distribution and the disruption InsurTechs, FinTechs and platform ecosystems are bringing to the industry. In his experience, insurers start handing over responsibilities to InsurTechs to set up neo-distribution and even handle claims management and focus only on the underwriting process.

Other companies mentioned in this episode Lazada, Grab, Gojek