EP 95 – Michael Gerber – CEO of 360F – What Is Transactional Insurance?

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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.

Formerly the Managing Partner and CEO of a globally active management consultancy firm. Michael’s professional career began as technical project manager with Living Systems. He then went on to become consultant with the Boston Consulting Group (Switzerland) in the area of Financial Services. During his consulting career, Michael focused predominantly on Wealth Management and Life Insurance. He has extensive experience in the areas of distribution, customer orientation, process optimization and platform projects. Michael has led and participated in over 100 projects in more than 20 years. Michael studied Physics at Karlsruhe University in Germany (1991 – 1996), at the Ecole Nationale Supérieure de Physique de Grenoble in France (1993 – 1994) and at the University of Sheffield in England (1994-1995). He completed his studies with a degree as Master of Science and a degree as Master of Philosophy. In 2006, he also obtained a degree in insurance management from the University of St. Gallen in Switzerland.

Asia InsurTech Podcast talked to Michael Gerber, the CEO of 360F. Originally from Switzerland, Michael has worked as a consultant in over 100 projects in more than 20 years and understands the pain points the insurance industry is facing. He shares why he chose to work in insurance and why the industry has often a bad reputation.

Michael talks about the importance of protection and investment products and how to educate the next generation in financial products in Asia to increase insurance penetration. In his opinion, the complexity of financial products has to be reduced, making it easier for people to understand the benefits of insurance and investment solutions. Micro-insurance and bite-size products are another tool to increase penetration and get low-income groups familiar with financial products. 

The two Michaels discuss the impact of open banking and open insurance and the impact on data ownership and data protection. A hot topic, as privacy laws such as the European GDPR are becoming stricter about the use of personal data. Blockchain, or distributed ledger technology, has the potential to allow people to have more control over their personal data and might even be able to monetise on their data. 

Other companies mentioned in this episode: Razer

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