Ep 114 Richard Leftley MIC Global: Where Microinsurance and the Gig Economy meet

Today’s guest is a true pioneer in insurance and also in
insurtech. In fact Richard Leftley, Executive Vice President of
MIC Global has had about fifteen years head start on many of the
other others in that game. As a trailblazer in microinsurance in
the developing world, where premiums per customer can often be
measured in $single digits, Richard learned right away that
without a digital-first approach you are going to get swamped by
the expense ratio and you won’t have a viable product. As
technology and robust data sources have advanced so the
microinsurance opportunity is finally coming into its own. But
what’s particularly exciting is that it turns out the hard
operational lessons learned from that tech first, very high
volume, low individual premium microinsurance experience are
transferable to the high-growth emerging embedded insurance
applications in the gig economies of today’s most developed
countries. And now that MIC Global has been given in-principle
approval for a syndicate in a box at Lloyd’s it seems poised to
benefit from strong growth in both of these incredibly different
worlds. Richard is passionate and eloquent and really knows his
business inside and out. There is a lot you can learn from him
and I can highly recommend a listen today. LINKS: We thank our
naming sponsor AdvantageGo: https://www.advantagego.com/ We also
thank Claims Direct Access (CDA) for their support today:
https://www.claimsdirectaccess.com/