FACES OF CHANGE

Digital Insurance - - WOMEN IN INSURANCE LEADERSHIP -

Those women who have launched in­surtechs to date share a com­mon thread: a desire to make the in­sur­ance in­dus­try work bet­ter for pol­i­cy­hold­ers by lever­ag­ing the range of dig­i­tal tech­nolo­gies, from mo­bile to AI to big data from mul­ti­ple sources. Dig­i­tal In­sur­ance asked three of them to talk about what drew them to the in­dus­try, why their so­lu­tion is go­ing to help and what they would tell other women who want to break into the sec­tor.

SNE­JINA ZACHARIA

FOUNDER AND CEO, IN­SU­RIFY COM­PANY FOUNDED: 2013

Q: What’s at­trac­tive about the in­sur­ance busi­ness for a tech en­tre­pre­neur?

In terms of cus­tomer ex­pe­ri­ence, the in­dus­try is worse off than travel was 17 years ago. Since then, the travel in­dus­try has trans­formed but in­sur­ance hasn't.

My ar­gu­ment is that it's ripe for dis­rup­tion now be­cause the tools are bet­ter and the tech­nol­ogy is more ad­vanced. Car­ri­ers are also ma­tur­ing to the idea that they need to ad­dress what cus­tomers want. What at­tracted me is that what peo­ple see as ob­sta­cles — the frag­mented dis­tri­bu­tion, the lack of full vis­i­bil­ity of the value chain — I see as an op­por­tu­nity for a fresh out­side per­spec­tive about what best prac­tices could work from other in­dus­tries.

Q: What keeps you in­spired by and cu­ri­ous about the in­surtech space and this era of in­sur­ance in­dus­try in­no­va­tion?

What ex­cites me is that it's al­most a [level] play­ing field. Every­one is rel­a­tively small and can make a ma­jor im­pact. This is a very risk-averse in­dus­try, which is un­for­tu­nately de­pen­dent on old-school tech­nolo­gies that or­ga­ni­za­tions have spent mil­lions of dol­lars on. But I can also see the evo­lu­tion within the in­sur­ance in­dus­try, how they are be­com­ing more open and cu­ri­ous in em­brac­ing new tech­nolo­gies.

sne­Jina zachaRia

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