EP 78 – Vincent Kasten – Head of Intelligent Operations – Prudential Asia – Develop that Solid Culture of Innovation

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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
Vince Kasten

Vince Kasten has implemented transformational AI solutions on three continents. He is a thought leader in applying Artificial Intelligence and Data-Driven decisioning to control risk, improve customer experience, improve productivity, and increase revenue. He currently heads Intelligent Operations Automation at Prudential Corporation Asia. Vince has co-authored two books, is a recent recipient of an Analytics India Magazine Analytics100 award, and is a frequent speaker and panelist. He holds three U.S. Patents, and an M.S. in Computer Science from Columbia University in New York.

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In this episode, we talked to Vincent Kasten, the Head of Intelligent Operations at Prudential Asia. Vincent has a diverse and quite interesting background. He has worked in the US, Africa and Asia and has witnessed innovation and disruption across a range of industries. During his exceptional career, Vincent has accommodated a number of major technological changes and discovered that technology is actually not the most difficult part. Changing people’s behavior to adopt technology ends up being much more difficult. 

Vincent talks about the digitization of the insurance industry and how COVID-19 is accelerating this transformation. In his view, Asia lags behind the West because, in this part of the world, human interaction is even more important to build trust. That is why the current pandemic presents major challenges to the insurance sales cycle when face to face meetings are not an option. While technology can solve this issue, human nature needs to adopt new behavioral paradigms. 

COVID-19 has forced people to rapidly change behavior which led to an uptake in digitized services, including telemedicine. Innovation is also accelerating and only companies that understand change will be able to respond to it. Vincent notes that every organization should have a team that spots change and enables innovation. Prudential has recently introduced PULSE which makes telemedicine and other digital services available to its customers. The concept behind Pulse is to make healthcare more accessible and more affordable.

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