1 00:00:03,420 --> 00:00:06,600 Sean Aylmer: Welcome to the Fear and Greed Daily Interview. I'm Sean Aylmer. 2 00:00:06,840 --> 00:00:10,830 Sean Aylmer: Insurance in Australia is big business. What's more, it's one 3 00:00:10,830 --> 00:00:13,860 Sean Aylmer: that affects almost every one of us from the everyday - 4 00:00:13,860 --> 00:00:17,100 Sean Aylmer: home and contents, car health, the life insurance - through to 5 00:00:17,100 --> 00:00:22,110 Sean Aylmer: the professional - workers compensation, indemnity, cybercrime, insurance. Like many industries 6 00:00:22,110 --> 00:00:24,480 Sean Aylmer: that have been around for a long time, insurance is 7 00:00:24,480 --> 00:00:28,500 Sean Aylmer: rapidly evolving, being pushed ahead by technology. Much like what 8 00:00:28,500 --> 00:00:33,059 Sean Aylmer: FinTech has done for financial services, insurtech is doing for insurance. 9 00:00:33,240 --> 00:00:36,570 Sean Aylmer: My guest today is Rita Yates, the Chief Executive Officer 10 00:00:36,690 --> 00:00:40,589 Sean Aylmer: and Co-founder of Insurtech Australia, a national, not for profit 11 00:00:40,590 --> 00:00:45,940 Sean Aylmer: organisation representing and advocating for members and partners in insurance technology. Rita, 12 00:00:46,140 --> 00:00:47,159 Sean Aylmer: welcome to Fear and Greed. 13 00:00:47,640 --> 00:00:48,630 Rita Yates: Thanks for having me. 14 00:00:49,080 --> 00:00:51,330 Sean Aylmer: What is Insurtech for the dummies like me? 15 00:00:52,710 --> 00:00:59,040 Rita Yates: Well, Insurtech in its very simplest form is essentially insurance technology. So 16 00:00:59,040 --> 00:01:02,730 Rita Yates: there's a couple of different levels to explain Insurtech. The first, 17 00:01:02,730 --> 00:01:07,560 Rita Yates: I guess, represents insurtech organisations that predominantly as startups and 18 00:01:07,560 --> 00:01:12,779 Rita Yates: scale ups building tech solutions for the insurance space. The 19 00:01:12,780 --> 00:01:18,270 Rita Yates: second level to the definition really is the insurance incumbent organisations, 20 00:01:18,270 --> 00:01:22,680 Rita Yates: so the big insurers, brokers, et cetera, that essentially build 21 00:01:22,680 --> 00:01:26,339 Rita Yates: technology into their businesses and it's, I guess, the secondary 22 00:01:26,340 --> 00:01:27,960 Rita Yates: definition of insurtech. 23 00:01:28,930 --> 00:01:32,280 Sean Aylmer: OK, so let's take those two. If we take the 24 00:01:32,280 --> 00:01:35,040 Sean Aylmer: first one, and I suppose I'm akin to neobanks and 25 00:01:35,040 --> 00:01:37,530 Sean Aylmer: that sort of thing in the banking industry, it's the 26 00:01:37,530 --> 00:01:41,400 Sean Aylmer: startups changing the insurance sector. What are they looking at? 27 00:01:41,400 --> 00:01:43,440 Sean Aylmer: What sorts of things are they developing? 28 00:01:43,830 --> 00:01:46,979 Rita Yates: Yeah, look, great question. And the answer to that really 29 00:01:46,980 --> 00:01:51,270 Rita Yates: is that they are developing solutions for every aspect of 30 00:01:51,300 --> 00:01:55,140 Rita Yates: the insurance value chain. So that begins from where people 31 00:01:55,140 --> 00:01:58,920 Rita Yates: go to buy their insurance and where insurance is distributed 32 00:01:59,190 --> 00:02:02,520 Rita Yates: right through to the claims process, which is often the 33 00:02:02,520 --> 00:02:07,290 Rita Yates: most important element of insurance. So it's when an incident 34 00:02:07,290 --> 00:02:10,950 Rita Yates: occurs and as an individual or a business, you actually have 35 00:02:10,950 --> 00:02:13,740 Rita Yates: to make a claim. And the solutions that they are 36 00:02:13,740 --> 00:02:18,870 Rita Yates: developing are essentially focused on ensuring that there is a 37 00:02:18,870 --> 00:02:23,490 Rita Yates: far better experience that is far more efficient. It is 38 00:02:23,490 --> 00:02:27,570 Rita Yates: in line with what consumers expect today from every industry 39 00:02:27,570 --> 00:02:33,630 Rita Yates: that they engage with. So essentially, consumers expect 24/7 capabilities, 40 00:02:33,630 --> 00:02:38,070 Rita Yates: instant service, online channel access and the ability to do 41 00:02:38,070 --> 00:02:41,429 Rita Yates: everything on their smartphone. And traditionally that has not been 42 00:02:41,430 --> 00:02:46,350 Rita Yates: available in the insurance industry. So insurtech is really helping 43 00:02:46,350 --> 00:02:51,330 Rita Yates: to support those capabilities and also just to redefine and 44 00:02:51,330 --> 00:02:56,250 Rita Yates: transform what insurance actually means. So building brand new products 45 00:02:56,250 --> 00:02:59,760 Rita Yates: that go to market that better reflect our lifestyles today, 46 00:02:59,760 --> 00:03:04,169 Rita Yates: like gig economy insurance, pay as you drive insurance, and 47 00:03:04,169 --> 00:03:09,750 Rita Yates: essentially creating a much more trusted environment for consumers that 48 00:03:09,750 --> 00:03:11,070 Rita Yates: take out insurance. 49 00:03:11,370 --> 00:03:13,739 Sean Aylmer: Okay. Then the second part is what the big guys 50 00:03:13,740 --> 00:03:16,770 Sean Aylmer: are doing. And presumably, they're adopting some of these sorts 51 00:03:16,770 --> 00:03:20,010 Sean Aylmer: of forms of insurance or service models. 52 00:03:20,490 --> 00:03:24,540 Rita Yates: They are indeed. And I think there's absolute acceptance these 53 00:03:24,540 --> 00:03:28,739 Rita Yates: days that in the insurance landscape, you must be digitally 54 00:03:28,740 --> 00:03:33,060 Rita Yates: transforming your business to keep up with essentially what consumers 55 00:03:33,060 --> 00:03:37,140 Rita Yates: are demanding today. And so certainly they are adopting these 56 00:03:37,140 --> 00:03:40,830 Rita Yates: technologies and they're doing this for the most part by 57 00:03:40,830 --> 00:03:46,380 Rita Yates: partnering with these insurtech organisations in many different fashions. But 58 00:03:46,380 --> 00:03:50,640 Rita Yates: also they are, I guess, redefining their strategies to build 59 00:03:50,640 --> 00:03:55,620 Rita Yates: digital transformation into their strategies. So that could be actually 60 00:03:55,620 --> 00:03:59,950 Rita Yates: working internally to transform what they are doing internally. And 61 00:03:59,950 --> 00:04:02,610 Rita Yates: then the second piece to that is really working with 62 00:04:02,610 --> 00:04:06,750 Rita Yates: some of these much more innovative, nimble digital solutions by 63 00:04:06,750 --> 00:04:10,560 Rita Yates: partnering with them externally as well to deliver to consumers 64 00:04:10,560 --> 00:04:11,640 Rita Yates: what is required. 65 00:04:12,180 --> 00:04:14,670 Sean Aylmer: I mean, we're sort of forward looking here, but recently 66 00:04:14,670 --> 00:04:17,460 Sean Aylmer: I had to claim on a car insurance with one 67 00:04:17,460 --> 00:04:20,229 Sean Aylmer: of the big players. And what I actually found incredible, 68 00:04:20,230 --> 00:04:22,500 Sean Aylmer: and I hadn't made a claim on insurance for many 69 00:04:22,500 --> 00:04:26,159 Sean Aylmer: years I suppose, was how easy it was. It was 70 00:04:26,160 --> 00:04:29,640 Sean Aylmer: really seamless. And all those forms that I seemed to, 71 00:04:29,790 --> 00:04:31,919 Sean Aylmer: I don't know whether I even remember it or whether I just imagined it, 72 00:04:32,010 --> 00:04:33,630 Sean Aylmer: it was actually incredibly easy. 73 00:04:34,290 --> 00:04:37,289 Rita Yates: Yeah. And look, this is absolutely in line with what 74 00:04:37,290 --> 00:04:39,539 Rita Yates: we're talking about here with the industry as a whole, 75 00:04:39,750 --> 00:04:43,260 Rita Yates: really transforming itself. And whilst there's still quite a way 76 00:04:43,260 --> 00:04:46,830 Rita Yates: to go, a lot of that paperwork has been eliminated 77 00:04:46,830 --> 00:04:49,800 Rita Yates: from every part of the insurance process. And that's really 78 00:04:50,040 --> 00:04:54,809 Rita Yates: the simplest form of how technology can actually improve insurance 79 00:04:54,930 --> 00:04:58,710 Rita Yates: as an industry, again, for consumers is actually to take 80 00:04:58,710 --> 00:05:02,859 Rita Yates: away the inefficiencies, the paperwork and allow everything to be done 81 00:05:03,100 --> 00:05:06,760 Rita Yates: online in a much more transparent, but a much more 82 00:05:06,760 --> 00:05:10,430 Rita Yates: efficient process. And at the end of the day, as I said, 83 00:05:10,430 --> 00:05:13,570 Rita Yates: it's that claims process, which is the make or break 84 00:05:13,570 --> 00:05:17,470 Rita Yates: with the relationship that people have with insurance. If it's 85 00:05:17,470 --> 00:05:21,970 Rita Yates: a good experience, then we think very positively about insurance 86 00:05:21,970 --> 00:05:26,260 Rita Yates: and our coverage. If it's a negative experience, which traditionally 87 00:05:26,260 --> 00:05:29,320 Rita Yates: where you had to put through lots of paperwork or 88 00:05:29,320 --> 00:05:32,640 Rita Yates: make phone calls and be on hold for many hours, 89 00:05:33,010 --> 00:05:36,190 Rita Yates: it really leaves a bad taste in the mouth. And certainly, 90 00:05:36,190 --> 00:05:40,570 Rita Yates: it has been traditionally why historically insurance was not a 91 00:05:40,570 --> 00:05:43,810 Rita Yates: well trusted industry. It relates back to the experience that 92 00:05:43,810 --> 00:05:47,320 Rita Yates: people had. But it's really great to see technology starting 93 00:05:47,320 --> 00:05:49,599 Rita Yates: to really transform insurance for the better. 94 00:05:50,060 --> 00:05:53,650 Sean Aylmer: I mean, I think insurance as a brand has always 95 00:05:53,650 --> 00:05:57,850 Sean Aylmer: been dowdy. Is that being a bit unkind? The funny thing is, 96 00:05:57,850 --> 00:06:01,570 Sean Aylmer: once you actually experience it now, it's not like that. What 97 00:06:01,570 --> 00:06:05,500 Sean Aylmer: you said earlier on about was, insure as you drive. It 98 00:06:05,500 --> 00:06:07,779 Sean Aylmer: made me think that some of these sorts of things, it's 99 00:06:07,779 --> 00:06:10,810 Sean Aylmer: not just for the insurance companies. Obviously, it's better for 100 00:06:10,810 --> 00:06:13,450 Sean Aylmer: them to become more efficient in their processes. But it's 101 00:06:13,450 --> 00:06:16,810 Sean Aylmer: actually for people like me who potentially would end up 102 00:06:16,810 --> 00:06:20,080 Sean Aylmer: paying less for insurance if those efficiencies can feed through 103 00:06:20,080 --> 00:06:20,599 Sean Aylmer: the system. 104 00:06:20,860 --> 00:06:24,130 Rita Yates: Yeah, that's exactly right. And a lot of insurtech is 105 00:06:24,130 --> 00:06:28,870 Rita Yates: actually aimed at decreasing the overall cost of insurance. So 106 00:06:29,050 --> 00:06:32,500 Rita Yates: we know that insurance costs do continue to rise globally, 107 00:06:32,500 --> 00:06:36,820 Rita Yates: not just in Australia. Insurance has not been a favourite, 108 00:06:36,820 --> 00:06:40,630 Rita Yates: as you said, a favourite topic of conversation for many people historically. 109 00:06:40,870 --> 00:06:44,620 Rita Yates: But these days, there are certainly improvements being made. In 110 00:06:44,620 --> 00:06:48,310 Rita Yates: terms of the reduction of costs, obviously, as I mentioned before, 111 00:06:48,790 --> 00:06:53,440 Rita Yates: using things like artificial intelligence and machine learning to decrease 112 00:06:53,440 --> 00:06:57,489 Rita Yates: the administration of insurance and increase efficiencies is one big 113 00:06:57,490 --> 00:07:00,550 Rita Yates: way that costs can be reduced. But there's another really 114 00:07:00,550 --> 00:07:04,780 Rita Yates: interesting aspect which is starting to emerge where technology is 115 00:07:04,779 --> 00:07:08,440 Rita Yates: actually helping to reduce insurance costs by playing a big 116 00:07:08,440 --> 00:07:13,210 Rita Yates: role in risk mitigation strategies prior to insurance events or 117 00:07:13,210 --> 00:07:16,600 Rita Yates: claimable events occurring. And this is really in line with 118 00:07:16,600 --> 00:07:19,900 Rita Yates: the trend towards more of a predict and protect model 119 00:07:19,900 --> 00:07:24,080 Rita Yates: of insurance and moving away from the transactional insurance model. 120 00:07:24,400 --> 00:07:27,610 Rita Yates: And so what I mean by that is things like 121 00:07:27,610 --> 00:07:33,410 Rita Yates: flood and weather prediction and protection capabilities that go alongside 122 00:07:33,430 --> 00:07:37,540 Rita Yates: what home insurance policies in at risk areas or even 123 00:07:37,840 --> 00:07:41,130 Rita Yates: an area which is hugely important for us today, cyber security. 124 00:07:41,470 --> 00:07:45,880 Rita Yates: Cyber security tools that help companies avoid attacks that go 125 00:07:45,880 --> 00:07:49,420 Rita Yates: alongside a cyber security insurance policy. So there are a 126 00:07:49,420 --> 00:07:53,740 Rita Yates: couple of examples where technology is actually helping to support, 127 00:07:53,740 --> 00:07:58,720 Rita Yates: reduce the risk before claimable incidents actually occur. And overall, 128 00:07:58,900 --> 00:08:01,990 Rita Yates: that's also going to help reduce the cost of insurance 129 00:08:01,990 --> 00:08:03,520 Rita Yates: for consumers and businesses. 130 00:08:04,030 --> 00:08:08,770 Sean Aylmer: And presumably big data over time will actually allow insurance 131 00:08:08,770 --> 00:08:13,330 Sean Aylmer: companies to have more targeted and appropriate policies for individuals 132 00:08:13,330 --> 00:08:14,110 Sean Aylmer: or businesses. 133 00:08:14,860 --> 00:08:18,130 Rita Yates: One hundred per cent. And historically, again, that's not really been 134 00:08:18,130 --> 00:08:21,850 Rita Yates: the case where insurance has been very tailored to businesses 135 00:08:21,850 --> 00:08:25,930 Rita Yates: and individuals. But the access to big data and what 136 00:08:25,930 --> 00:08:28,450 Rita Yates: I would say is insurers have always had a lot 137 00:08:28,450 --> 00:08:31,210 Rita Yates: of data and they've always stored a lot of data. 138 00:08:31,210 --> 00:08:34,660 Rita Yates: But traditionally they have not had the tools to analyse 139 00:08:34,660 --> 00:08:38,380 Rita Yates: it really effectively, to be able to drill down and 140 00:08:38,620 --> 00:08:43,660 Rita Yates: accurately price without having to use people to do that, 141 00:08:43,660 --> 00:08:46,660 Rita Yates: to actually be able to use technology to use the 142 00:08:46,660 --> 00:08:52,000 Rita Yates: data and accurately price these huge amounts more data available 143 00:08:52,000 --> 00:08:55,420 Rita Yates: to insurers today. And this is going to be a 144 00:08:55,420 --> 00:08:57,820 Rita Yates: huge area where that data is being used for the 145 00:08:57,820 --> 00:09:01,480 Rita Yates: good of being able to price more effectively, but also 146 00:09:01,480 --> 00:09:06,069 Rita Yates: to provide more tailored solutions for individuals and businesses as 147 00:09:06,070 --> 00:09:07,469 Rita Yates: well using the data. 148 00:09:08,050 --> 00:09:10,030 Sean Aylmer: Stay with me, Rita. We'll be back in a minute. 149 00:09:15,070 --> 00:09:19,250 Sean Aylmer: My guest this morning is Rita Yates, CEO of Insurtech Australia. 150 00:09:19,570 --> 00:09:22,959 Sean Aylmer: You mentioned cybercrime a moment ago. Are there many new 151 00:09:22,960 --> 00:09:26,980 Sean Aylmer: forms of events that need insurance and then do some 152 00:09:26,980 --> 00:09:27,850 Sean Aylmer: drop off as well? 153 00:09:28,450 --> 00:09:32,710 Rita Yates: Yeah, look, I don't see any dropping off in particular. 154 00:09:32,740 --> 00:09:36,070 Rita Yates: I mean, I think the interesting thing there is that 155 00:09:36,220 --> 00:09:41,770 Rita Yates: absolutely cybersecurity and cyber insurance is a huge developing area 156 00:09:41,770 --> 00:09:45,010 Rita Yates: and it's very much in its infancy globally. So there's 157 00:09:45,010 --> 00:09:47,439 Rita Yates: going to be a lot of new developments in this space, 158 00:09:47,440 --> 00:09:50,500 Rita Yates: new products in this space and so forth that develop 159 00:09:50,500 --> 00:09:54,520 Rita Yates: over time as the risk of cyber crime and cyber 160 00:09:54,520 --> 00:09:57,910 Rita Yates: incidents continues to increase. So that this is a really 161 00:09:57,910 --> 00:10:00,610 Rita Yates: interesting area that we are keeping a close eye on 162 00:10:00,760 --> 00:10:04,179 Rita Yates: and that technology will play a major role within. In 163 00:10:04,179 --> 00:10:08,200 Rita Yates: terms of areas that are emerging that require cover, our 164 00:10:08,200 --> 00:10:12,250 Rita Yates: lives and our lifestyles continue to change. So the way that 165 00:10:12,250 --> 00:10:16,660 Rita Yates: we are engaging with insurance is changing to a degree. 166 00:10:16,660 --> 00:10:19,750 Rita Yates: So new products will continue to play a role in 167 00:10:19,750 --> 00:10:24,100 Rita Yates: our evolving lifestyle. And an example is the rise of 168 00:10:24,100 --> 00:10:27,340 Rita Yates: the gig economy, for example. Now, gig economy insurance never 169 00:10:27,340 --> 00:10:30,699 Rita Yates: existed a few years ago, but there are certainly products 170 00:10:30,700 --> 00:10:34,959 Rita Yates: that are emerging to cover gig economy workers in line 171 00:10:34,960 --> 00:10:38,140 Rita Yates: with the way that our lifestyles are changing and our 172 00:10:38,140 --> 00:10:40,429 Rita Yates: work lives are changing in the future. 173 00:10:40,660 --> 00:10:43,930 Sean Aylmer: So all of these developments in the insurance industry, is 174 00:10:43,929 --> 00:10:47,950 Sean Aylmer: the regulatory landscape as well evolved? And can it handle 175 00:10:48,100 --> 00:10:49,420 Sean Aylmer: these sorts of changes? 176 00:10:49,990 --> 00:10:52,450 Rita Yates: Well, as you probably know, there's a huge amount of 177 00:10:52,450 --> 00:10:56,679 Rita Yates: regulatory change post the royal commission in insurance along with 178 00:10:56,679 --> 00:10:59,920 Rita Yates: other industries. And I don't think necessarily there needs to 179 00:10:59,920 --> 00:11:04,089 Rita Yates: be more regulation, but possibly the environment could be more 180 00:11:04,090 --> 00:11:10,000 Rita Yates: conducive to insurtech and innovation more broadly. So, insurtechs obviously 181 00:11:10,000 --> 00:11:14,339 Rita Yates: operate within the current regulatory landscape. The good thing for 182 00:11:14,350 --> 00:11:18,429 Rita Yates: insurtechs are that, generally, they're not seeking an insurance licence to 183 00:11:18,429 --> 00:11:21,490 Rita Yates: act as a full stack insurer, which is lucky because 184 00:11:21,490 --> 00:11:25,710 Rita Yates: that's an incredibly difficult thing to do. On the positive side, 185 00:11:25,720 --> 00:11:29,170 Rita Yates: there is a regulatory sandbox which was developed some time 186 00:11:29,170 --> 00:11:33,910 Rita Yates: ago where essentially insurtechs and fintechs can test their innovations. 187 00:11:34,300 --> 00:11:36,790 Rita Yates: It would be great to see that expanded because it's 188 00:11:36,790 --> 00:11:40,780 Rita Yates: quite limited at the moment. And the other interesting area 189 00:11:40,780 --> 00:11:43,930 Rita Yates: of regulation which is developing, which will play a role 190 00:11:43,929 --> 00:11:47,469 Rita Yates: in insurance moving forward, is open banking and the consumer 191 00:11:47,470 --> 00:11:51,579 Rita Yates: data right. Now, at the moment, this only affects banking 192 00:11:51,580 --> 00:11:55,720 Rita Yates: and banking customers, and it essentially allows consumers to more 193 00:11:55,720 --> 00:11:59,530 Rita Yates: easily share their data and then switch products and services 194 00:11:59,530 --> 00:12:03,400 Rita Yates: between banks. And that continues to evolve and it continues 195 00:12:03,400 --> 00:12:06,340 Rita Yates: to be rolled out. As an industry, we would actually 196 00:12:06,340 --> 00:12:10,959 Rita Yates: love to see the consumer data right expanded into insurance, which 197 00:12:10,960 --> 00:12:15,280 Rita Yates: would obviously allow the same for consumers seeking insurance products, 198 00:12:15,280 --> 00:12:18,880 Rita Yates: the same options. And it's likely that in the not 199 00:12:18,880 --> 00:12:20,980 Rita Yates: too distant future, I think we're still a few years 200 00:12:20,980 --> 00:12:24,820 Rita Yates: away from that, that insurance will actually reach that consumer 201 00:12:24,820 --> 00:12:28,270 Rita Yates: data right timeline and there will be changes in legislation 202 00:12:28,270 --> 00:12:28,810 Rita Yates: around that. 203 00:12:29,200 --> 00:12:31,630 Sean Aylmer: OK, and just finally, how big is the insurtech sector 204 00:12:31,630 --> 00:12:33,750 Sean Aylmer: in Australia? Like where do we rate globally? 205 00:12:34,179 --> 00:12:38,860 Rita Yates: Well, globally, there are over a thousand insurtechs operating now. 206 00:12:38,860 --> 00:12:43,120 Rita Yates: We have in Australia around 80 insurtech start ups and 207 00:12:43,120 --> 00:12:46,960 Rita Yates: scale ups that are members of Insurtech Australia, and that 208 00:12:46,960 --> 00:12:51,480 Rita Yates: really represents the majority of insurtechs that operate here. It's 209 00:12:51,490 --> 00:12:54,130 Rita Yates: quite a large number, considering it's actually a really new 210 00:12:54,130 --> 00:12:58,420 Rita Yates: industry in Australia. And when we first launched in Australia 211 00:12:58,420 --> 00:13:03,250 Rita Yates: in 2017, we literally had a handful of insurtech organisations 212 00:13:03,250 --> 00:13:06,070 Rita Yates: that were members of ours. So around 90 per cent of 213 00:13:06,070 --> 00:13:09,580 Rita Yates: our current members are Australian companies and then the rest 214 00:13:09,580 --> 00:13:13,420 Rita Yates: of those are international insurtechs that have scaled into Australia. 215 00:13:13,660 --> 00:13:19,900 Rita Yates: And that's interestingly an increasing trend to see international insurtech organisations 216 00:13:19,900 --> 00:13:23,290 Rita Yates: seeing Australia as a really positive place to move into and 217 00:13:23,380 --> 00:13:26,859 Rita Yates: a positive environment to move into. A number of our 218 00:13:26,860 --> 00:13:31,179 Rita Yates: Australian insurtechs have also scaled globally or are looking to scale globally. 219 00:13:31,429 --> 00:13:36,490 Rita Yates: And generally speaking, Aussie insurtechs do create their propositions to 220 00:13:36,490 --> 00:13:38,770 Rita Yates: go global at some point because it's quite a small 221 00:13:38,770 --> 00:13:42,700 Rita Yates: market here, the Australian insurance market. In terms of how 222 00:13:42,700 --> 00:13:45,939 Rita Yates: we stack up in the rest of the world, we 223 00:13:45,940 --> 00:13:48,640 Rita Yates: are a very well established and well connected and well 224 00:13:48,640 --> 00:13:53,950 Rita Yates: respected ecosystem. We are involved in many global insurtech initiatives 225 00:13:54,220 --> 00:13:56,590 Rita Yates: and we're also one of the founders of the Global 226 00:13:56,590 --> 00:14:02,080 Rita Yates: Insurtech Alliance in 2018, where organisations like ours from other 227 00:14:02,080 --> 00:14:04,540 Rita Yates: regions are connected across the globe. 228 00:14:05,050 --> 00:14:07,330 Sean Aylmer: Fantastic. Rita, thank you for talking to Fear and Greed. 229 00:14:07,750 --> 00:14:08,650 Rita Yates: Thanks for having me. 230 00:14:08,980 --> 00:14:13,390 Sean Aylmer: That was Rita Yates, CEO and co-founder of Insurtech Australia. 231 00:14:13,630 --> 00:14:15,820 Sean Aylmer: This is a Fear and Greed Daily Interview. Join me 232 00:14:15,820 --> 00:14:18,010 Sean Aylmer: every morning for the full Fear and Greed podcast with 233 00:14:18,010 --> 00:14:21,200 Sean Aylmer: all the business news you need to know. I'm Sean Aylmer. 234 00:14:21,220 --> 00:14:22,030 Sean Aylmer: Enjoy your day.