The LiiP S1, E15, Frank Perkins, CEO, INARI.IO
In this week's episode, I was joined by Frank Perkins who is CEO of INARI.IO
INARI.IO is an Instech operating out of Barcelona. They offer a next-generation insurance platform, they digitize and virtualize the different things that happen in the life cycle of risk.
In this episode we discuss
Startups are not for everyone - creativity is as important as hard work
How the people that join at inception may not be the people to necessarily take you to completion
"Is the juice worth the squeeze" Insurance is big enough to have many problems to solve but is it a big enough issue
Insurers cannot tackle small problems - Instechs can
Innovation can be any change that creates value
The insurance culture of the fast follower can inhibit innovation
Fresh eyes to insurance are important but regulation requires insider knowledge
We should always be asking how change or innovation impacts the customers
We need to tackle each point of innovation to make things better in the aggregate for the commercial customer
Restrictions of regulated businesses and the MVP tech model
Insurance isn't broken
Connected technology is key to the future success of insurance
How connectivity between technologies is key to progress and also how consumers will judge tech
Buy vs make - the shift of mindset over time - integrate vs make job roles in insurers
Cost vs Risk with buying or making tech
Teams are built on skill, luck, and serendipity
The best definition of Innovation so far - "slightly rounder wheels"
Thanks to Frank for being a great guest - I mention the Star Wars background - you can see this on the YouTube channel so go check it out.
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