EP 86 – Amit Ghosh – R3, Head of Asia Pacific – There Are Key Problems the Insurance Industry Wants to Solve

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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 Ghosh

Amit is the Head of Asia Pacific, and is responsible for our growth and business performance in the region. He also leads R3’s strategy in APAC, including market entry strategy, pricing strategy & sales/partnership strategy. Prior to R3, Amit held various senior business development & operations roles at Visa, PayPal & Hewlett Packard. He holds an MBA from Chicago Booth and a B.Tech from IIT-BHU.

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The Asia InsurTech Podcast had the pleasure of speaking with Amit Ghosh, the Head of Asia Pacific for R3.  R3 is an enterprise software company that provides purpose-built distributed ledger technology across industries to foster digital transformation.  AIP was excited to have a DLT platform on the show to discuss ways in which this developing technology was pushing change in the Insurance and InsurTech space.

Amit noted, correctly, that the insurance industry needed a technology platform that allowed them to collaborate more effectively and efficiently.  Like most industries that are going through digital transformation, many processes are still manual and built on top of spreadsheets and other technologies that are difficult to properly share without suffering from versioning and other problems.  These issues can lead to errors and unrecoverable costs to insurance companies. 

We also discussed one of my favorite topics…the fact that some of the largest platform companies in Asia are using their breadth to become hubs of distribution for insurance and related financial products. Ride-hailing companies and e-commerce providers top the list of the types of platform companies that Amit was referencing and continue the theme of collaboration noted above.

The conversation naturally trended to how the platform companies can use their reach to address the insurance penetration issue in Southeast Asia.  This includes a host of potential clients that have not previously had coverage for multiple reasons, not the least of which was premiums that were too high for both individuals and SMEs.

Amit was extremely thoughtful and very focused on collaboration and efficiency…two words that came up throughout our conversation.

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