As regular listeners will know, the Voice of Insurance usually interviews people from the global wholesale, speciality insurance and reinsurance end of the market, insuring the type of risks that tend to have to cross borders to find the right type of coverage.
Today’s podcast is a slight departure from the norm because I am talking to someone who is working in the general insurance space in the UK.
But they are doing so from a wholly original wholesale and tech-enabled angle that also incorporates one of the hot trends of the past few years – embedded insurance.
Mark Christer is CEO of Wakam UK, a firm that uses the business-to-business-to-consumer (B2B2C) and MGA models to go to market in niche lines of business where it can stay under the radar of the volume and scale players in the UK’s hyper-competitive market.
Wakam UK is the UK subsidiary of the rebranded French insurance group which can boast an illustrious 200-year history as France’s oldest private insurer, La Parisienne.
Mark came into insurance because of his work in IT and has enormous experience in the UK market He is the former managing director of personal lines for RSA in the UK, where he looked after the high-profile digital brand More Than.
Given Mark’s background it is perhaps unsurprising that Wakam UK is aiming to bring technology, including AI, to speed up the insurance process and go live with new prospects within weeks rather than months.
Wakam UK already had reasonable scale in its legacy form, but in its new tech-first guise seems likely to achieve substantial growth.
I think regular listeners will learn a lot from Mark and find a lot in common with him. In a world of hype, here is someone with all the experience and knowledge to make the promise become reality.
His enthusiasm and positive energy is infectious, so I can highly recommend a listen.
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