EP 68 – Amit Naik – co-Founder CEO MetaMorphoSys – Tilting the Scale in Favor of Incumbents

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Michael Waitze has been podcasting with some of the best investors and business builders globally and discussing all things startup with them from an Asian perspective. Michael worked in Global Finance for more than 20 years, employed by firms like Citigroup, Morgan Stanley, and Goldman Sachs, primarily in Tokyo. Michael always maintained a particular focus on how technology could be used successfully to make businesses more efficient and to drive P/L growth. Michael is quite skilled at connecting people and capital to innovative ideas and is a trusted advisor to both investors and founders. Michael is a leader in the digital media space, having pioneered the concept of a podcast network in Asia while building the biggest and fastest-growing listener base in the region. His flagship website, AsiaTechPodcast.com, has listeners in over 100 countries and is available on virtually every podcast player that supports RSS feeds.

Guest
Amit Naik

Amit is the CEO and co-founder of MetaMorphoSys Technologies which is an InsurTech transforming the legacy insurance landscape using their cutting edge digital insurance platform. With over 20 years of experience in consulting and designing innovate software products for the global insurance industry. Passionate about cycling, drumming, travelling and selling.

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In this episode, Michael Waitze talks to Amit Naik, CEO & co-founder of MetaMorphoSys Technologies, a SaaS-based digital insurance platform. The Indian startup has developed an end-to-end platform that takes care of the entire value chain for insurance incumbents. Amit started his career in the insurance industry with IT provider Majesco in 2001 and later worked for Indian startup C2L BIZ before starting MetaMorphoSys in 2016. 

Michael and Amit talk about why insurance penetration in India is historically so low and what makes the insurance industry ripe for disruption now. Startups are playing a major role in designing the future of insurance as they challenge the incumbents to rethink their business models. Neo-insurers have developed a new generation of products and services that are super flexible and in line with the lifestyle of customers in a digital, highly connected world. What stops incumbent insurers from doing the same is often their IT infrastructure that does not allow the fast launch of flexible products. 

But it is not only about launching new products. In order to offer easy to understand products and convenience to customers and enable agents to leverage digital sales tools, the entire value chain needs to be digitized. Amit shares his views from customer acquisition to digital claims and explains how APIs and open platforms can help insurers transform their business model and become a digital player.

Other companies mentioned in this episode: 
GOQii, Acko, Igloo, PayTM, Flipkart,

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To get in touch with the Uncharted team, email them at info@uncharted.global

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