“The only reason we’re here is to support our carriers”, says Bob as he shares his journey of setting up shared services operations and his transition from media in to insurance.
“There’s a sense of stability of being in an industry that’s required by law to sit on giant pools of assets.”
Bob gives an overview of Tokio Marine and the setting up of Tokio Marine NAS to provide pooled professional services – accounting & finance, actuarial, legal, internal audit and technology – primarily supporting Tokio Marine America, First Insurance Company of Hawaii and Philadelphia Insurance.
“Each of our group companies has different needs. They’re at different moments in their system lifecycle, operational change and transformation.”
Bob shares his thoughts on the future of insurance both through a technology lens and on the sector holistically, emphasising that, “Any insurtechs we adopt, we have to stitch in to an already complex environment. Sometimes you can plug it in, often it’s not that simple.”
He talks about the personality traits that fit Tokio Marine and the diversity of opportunity for those with an insurance background and those from outside of the sector.
“The more we speak insurance, the more it draws our business colleagues in to speaking tech. If everyone’s speaking a little insurance and a little tech, we’re all speaking the same language.”
The Insurance Coffee House Podcast is hosted by Nick Hoadley, CEO, Insurance Search, the Executive Search Consultancy for growing Insurance and Insurtech businesses across the globe.