In this episode, Michael Waitze talks to Michael Lovegrove, the founder, and CEO of JRNY. The Company is on a mission to reduce the globally underinsured population which amounts to approximately USD 1.2 trillion with many of them found in Southeast Asia. The New Zealand startup is working with insurers globally to develop easy to understand insurance products and a convenient customer journey platform.
JRNY has a mobile-first approach. While most insurers build a desktop version first and then try to make it accessible on a mobile, the startup is focusing on a contextual, mobile solution first that reaches from sales to claims management and digitizes the entire process. A topic more relevant than ever in times of a global pandemic.
The two Michaels discuss the impact of Covid-19 on an industry that predominantly relies on traditional agent and broker distribution. The industry will have to change and enable its distribution partners with digital tools. Partnering with startups appears to be a much faster and potentially even cheaper solution compared to building digital tools in-house in times of a global pandemic and remote work.
Listen to the panel we recorded with Michael Lovegrove at the Singapore Fintech Festival here and the live special on “Beating the Virus” here.
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