EP 81- Abhishek Poddar – Plum – Agents Are Not Going To Disappear

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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.

Co-founder & CEO of Plum

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We talked to Abhishek Poddar, the co-founder, and CEO of Plum, an Indian InsurTech aiming to re-imagine and co-create group health insurance products from the ground-up. While the retail health insurance space has been digitised thanks to players like PolicyBazaar, group health insurance is still widely manual. Plum is planning to change that.  

Michael and Abhishek talk about how SMEs lack access to quality employee benefit solutions which leads to low penetration. Another challenge small and medium-sized companies are facing, is that they cannot afford a benefits manager to analyse and select the best policy for the company. Plum aims to tap into this market by providing easily accessible and easily understandable employee benefits solutions. 

Abhishek explains how, in his opinion, the current pandemic has changed from a push-market to a pull-market. In his view, traditional agents will not disappear but the market share for direct channels will increase substantially and half of the volume could be sold via online channels. 

Other companies mentioned in this episode: Digit, Acko, Coverfox

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