Ep 117 Channelling a Raging Torrent of Insurance Innovation: George Beattie, Head of Incubation Underwriting at Beazley and Co-chair of the Lloyd’s Product Launchpad

Today’s guest is someone with a really difficult and really
important job. You could say that the future prosperity of the
insurance market is a big part of his remit. We keep fretting
about how hard it is, and how it seems to be getting harder
still, to innovate in our industry and how if we don’t do it fast
enough we are all going to become irrelevant. Well, Head of
Incubation Underwriting at Beazley and Co-chair of the Lloyd’s
Product Launchpad George Beattie is both inspiring and eloquent
and listening to him should make you feel a bit more positive
about the industry’s long-term prospects. The structures he is
part of both within and outside his own organisation have been
designed to make innovation easier by very deliberately removing
the disincentives that currently exist for it to happen. After
all, who wants to risk their bonus on a new idea that by
definition doesn’t come with years of claims data or
actuarially-approved pricing models attached to it? It turns out
the problem is absolutely not a lack of original ideas and far
more a lack of time and resource to do all the best ones justice.
Listen on for a fascinating and uplifting episode. NOTES and
LINKS: I refer to the Episode with Relm Insurance. That’s Episode
113 Lloyd’s Product Launchpad The IVF venture with Gaia is also
backed by Chaucer We thank our naming sponsor AdvantageGo