The LiiP Podcast, S1, Ep10, Bob Frady, CEO and Co-Founder, Hazard Hub
Wow! Here we are episode 10! I always felt 10 would be a great number to go with and if I hit 10 I could hang up my microphone if the podcast didnt really work for me or the audience..... it seems that was very underambitious. We will be going long term with the podcast and its become a FinPro permanent fixture!
Welcome to episode 10 of the Leadership in Insurance Podcast.
Hazard Hub is a 3rd party data supplier that boasts the most comprehensive property data ever assembled for the insurance industry and works with the industry to help them to better understand their risk.
Bob is a really interesting and engaging guy it was a pleasure to spend some time talking to him, we met through his involvement of Lloyd's lab.
In this conversation we talk about:
Data quality and data skill within the insurance industry
The difficulty of obtaining and accessing the right data
Data efficiency and using data to distribute labour
How ideas are free but that's the easy part
The importance of end-user feedback early on and the benefits of MVP
How VC money can be easier to get with an idea than actual revenue
The importance of sharing ideas and not being too protective
The slow sales cycle of the insurance market - you need the money or the stomach for the long haul
Use of data analysis after the fact - the lunacy of that process!
What the data says about rate rises - it isn't enough!
The social dilemma around tailored pricing - people can be priced out
The importance of asking the right questions
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