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Conferences
October 29, 2021
October 20, 2021
November 09, 2020
#Insurtech - Keynote Address: Insurance Innovation: Yesterday and Tomorrow at IFW 2020 Online
Join us on 12 November at 10.00 AM for 'Keynote Address: Insurance Innovation: Yesterday and Tomorrow' at IFW 2020 Online!
Get your pass now: www.istanbulfintechweek.com
Insurance industry evolves in an exponential fashion. Innovation changes the way insurance and reinsurance products are developed, processed and delivered. Insurance services go fully-digital. Awareness of the conventional players has dramatically increased towards innovation. The inquiry is what awaits the insurance industry and services in the way forward.
- Minh Q Tran, Mandalore Partners
#payments #blockchain #digitalbanking #insurtech #startupday #AIinFinance #ifw2020online
LinkedIn: @istanbulfintechweek @fintechtr
Twitter: @istfintechweek @Fintech_TR
Facebook: @fintechtr
Instagram: @fintech_tr
July 01, 2020
May 05, 2020
#Insurtech@latokens - @minh_q_tran @odysseuspartner talking about impact of covid-19 on global tech
Impact of COVID-19 on Global Tech, Series VI Disrupting Industries, Creating New Business Models and Finding New Opportunities in Crisis In the COVID-19 pandemic people travel less and meet online, work remotely, move to edtech, digital gaming and entertainment, with many industries changing their paradigms in the new reality. - What is the COVID-19 impact for your segment, challenges and opportunities? - What kind of pivots do you observe or plan to fit the new reality? - Who are the active investors and how to fundraise online? - How do you strengthen your team spirit through crisis? - What are the smart ways in cutting costs and boosting efficiency? - How do you see the role of automation in this post COVID-19 era (i.e. auto-pilot, drone, robotics systems etc)? - What are some new industries, segments, products coming out of it? - How do you see healthcare changing? Are we going to move towards home-based care? - What role does tech play in social gathering (i.e. hospitality business, Airbnb, HoReCa etc)? - In this global setting of entrepreneurship, which markets around the world do you see emerging? - Are we going to see more international investments? - Do you see Silicon Valley going global? Moderators: • Nadya Nesterova, IR Adviser (PE, VC, PERE, HFs), Independent Director NAIMA, Adviser DVC • Giampaolo Parigi, Venture Capitalist, Chairman, Single Family Office Speakers: • Antonello Dato, Co-Founder, Burrata House • Minh Q. Tran, Managing Partner, Odysseus Partners • Chitra Ragavan, Founder & CEO, Goodstory • Jonathan Caras, Business Development StarkEx, Partner CTO, Head of Research, Lionschain Capital
March 02, 2020
#Insurtech #Conference = happy to speak tomorrow at the Global Insurtech Summit (@odysseuspartner, @minh_q_tran, @Fintech_Global)
Q&A Global Insurtech Summit - Driving Insurtech Growth through Partnership & Investment
Minh Q. Tran shared his views on the partnerships between Insurtech startups and insurance comapnies in a panel discussion at Global Insurtech Summit in London, on March 3, 2020.
Q1 - Is partnering/working with startups a productive and efficient way to innovate?
A1 - Yes, CB Insights’ research shows that from 2017 to early 2019, there have been more than 180 partnerships struck between insurers and tech companies.
(Source https://home.kpmg/xx/en/home/insights/2019/08/get-the-most-out-of-your-insurtech-partnership-fs.html)
(Source https://www.cbinsights.com/research/insurtech-partnerships/)
Q2 - What are some of the successful and not so successful ways that organizations are partnering with new technology players?
A2 – The most successful partnerships are around distribution in the past few years because the insurance B2B model has shifted to a B2B2C. Not successful with technology is so advanced that there is no internal capability inside the insurance company. For example, AI startup with no data scientist in insurance company.
(Source https://insuranceblog.accenture.com/new-players-and-partnerships-disrupt-insurance-distribution)
Q3 - What's the value of partnerships with new/innovative tech players? How do you measure this?
A3 – Return of Strategy is the right measure on top of RoI. The merge of asset management with new insurtech technology as an example in Odysseus Partners
(Source : https://www.amazon.fr/dp/B002ZZ3Z50/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1)
Q4 - How can the industry evolve to be more effective partners?
A4 – VCaaS which means VC-as-a-service is a new service for insurers. Techmind, Bain Capital, Redstone, and Seed Founders are players.
(Source : https://www.bain.com/vector-digital/vc-as-a-service/)
January 14, 2020
November 25, 2019
#Finverse #Riyad on Dec 10 & 11: how #Fintech, #Proptech, #Insurtech and #Impact #Investing can impact #UAE and #SaudiArabia?
@Insurtech_Cap @Minh_Q_Tran
Insurtech Capital
Insurtech Trends in the Middle East - 2019
The Middle East is highly underinsured compared to other regions so there is a great interest in new technologies as they could increase the number of people insured. Even if insurance faces cultural barriers in the Middle East - many people consider insurance as not Sharia-compliant - the insurance market in the Middle East is becoming more mature due to new regulatory requirements.
Regulatory requirements are creating opportunities for insurTechs in the Middle East
Regulatory regimes were significantly improved and modernized during the last few years. Thanks to new mandatory insurance policies, new lines of businesses such as health insurance and motor insurance are on the rise.
These regulations relate in particular to new regulatory pricing and reserving requirements for life products. If Middle East countries did not adopt Solvency II, capital requirements have been strengthened in line with Solvency II. Moreover, new legislation requiring employers to provide health insurance for their staff has already been announced in Bahrain and Oman for implementation in 2019. Mandatory health insurance became a key driver of growth in markets such as the Kingdom of Saudi Arabia, Dubai, and Abu Dhabi, and others are set to follow. Another regulatory trend concerns the medical insurance market: in 2017, the UAE established mandatory health insurance.
Most of the insurance growth is driven by governments in Saudi Arabia and UAE and many companies are struggling with the existing regulatory frameworks. Regulation is characterized by strict guidelines imposed by the insurance authorities (from production to distribution).
Is regulation a lever or a brake for innovation? In some situations, these strong and changing regulations could be a brake on innovation as companies are focusing on adapting to new regulations. But most of them foster accessibility through the internet and favors technology. In particular, regulators are focusing on claims settlement.
Eventually, if regulations deepen the market in terms of growth opportunities, tightened regulatory capital requirements could increase the market concentration.
A growing market that remains dominated by local players
The insurance market in the Middle East looks stable from a premium perspective. Experts point out increasing profitability on all lines of businesses, shown by a growth of the net underwriting profit from 2016 to 2018. If the market is still very competitive and relatively soft, stable premiums and gradually rising net underwriting profits across all insurance lines are signs of a maturing market.
New opportunities for growth are offered by the region’s resilience despite geopolitical instability and a continued economic sluggishness. Even though executives anticipate further economic headwinds and fiscal tightening, price adequacy in commercial lines, especially in the property business, has improved, mainly in response to regulatory intervention.
Middle East’s low insurance penetration offers great potential for growth. Nevertheless, larger local players are expected to become more influential and continue to shape the market. Many are able to transfer skills acquired from operating in more developed markets around the world. However, minor players who lack global expertise may be less able to react to market and regulatory changes, adding pressure to their operations and the potential to be ultimately squeezed out of the market altogether.
Is digitalization the key for foreign players to compete in the Middle East?
To access this growing market, digitization and InsurTechs offers opportunities even though foreign insurers are still facing stricter requirements than local players.
Digitalization is the second most frequently mentioned opportunity for the market because of its potential on cost reduction and because it increases the appeal of insurance products to the younger populations of the region.
9 key conclusions to consider insurance in the Middle East in 2019 according to InsurTech Capital:
- Many people in the Middle East consider insurance as not Sharia-compliant so it limits the adoption of insurance. The Middle East remains highly underinsured and Increasing regulations threaten market stability.
- Clear need in Arab countries for innovation as the profitability of insurance is endangered by the decrease of investment revenues (low-interest rates, high rate of frauds, obsolete processes).
- This is a highly concentrated market: the top 5 insurers control 50-55% of the market. They are all local companies (Abu Dhabi National Insurance Company and the Islamic Arab Insurance Company).
- Most promising lines of business in Arab countries are motor, health, and travel insurance.
- UAE is the largest insurance market of the Arabian Peninsula and the most favorable market for the development of insurance (growing middle class, positive regulations, growing usage of mobile phones and of the internet). The Life Insurance Regulations are likely to reduce the number of intermediaries and drive consolidation. UAE also leads innovation in the Middle East through investments in blockchain and on FinTechs.
- The regulation will remain the main influencing factor for insurance disruption in the Middle East in the medium term through the creation of mandatory insurance. The regulation also stresses compliance and customer protection.
- Middle East countries are seeing an increasing number of workers from Asian and emerging countries looking for other standards of insurance policies (regional PMI plans rather than fully international solutions).
- Blockchain and Artificial Intelligence technologies are on the rise as the privacy of data and security is a major concern in the Middle East.
- The most promising InsurTechs in the Middle East, such as Adenda and Aqeed, are focusing on distribution.
Research and article written by @theophile_deli, VC analyst at Odysseus
October 07, 2019
October 14, 2018
June 04, 2018
March 05, 2018
March 25, 2015
Conference @EBG: what are the new business models with #eHealth?
Here the key points of our talk today about new emerging business models with startups in eHealth
Can you introduce AXA Strategic Ventures and AXA Factory?
- AXA Strategic Ventures is a global venture capital fund of 200m€ investing in #Insurtech with offices in San Francisco, New-York, London, Berlin, Zurich and Paris.
- AXA Strategic Ventures also interacts with AXA Incubator and has an accelerator named @AXAFactory
- The three entities work independently but can also act as a #fullstack #VC #Fund (older post)
What are you looking in this domain with startups?
- We look at startups developing a mobile and online platform about health with the following characteristics : induce a healthy behavior, share this attitude with a community and get revenues through a clear business model (ads, rewards, etc...).
- One good example is a startup recently interviewed on BFM TV named Running Heroes.
- Hence, we look at scaling this startup in leveraging with AXA distribution.
Do you see new business models emerging in eHealth startups?
- A traditional business model is freemium. You give a solution for free, get users and convert some of them to a pricing plan.
- But recently see the #reversefreemium model. Here, you distribute your solutions to users. Everyone pays but only a few benefit from all functionalities. This is a business model that we want to try. Basically, we invest in a startup and get distribution of the service coupled with your insurance.
- A good example is with Oscar using Misfits to reward fit. We see this model already in Germany based on comments from the audience and surely Oscar is not a traditional insurance company. This startup has raised about 150m$ in last round of financing in New-York
March 22, 2015
How to generate your biography automatically on @linkedin with @yseop for @EBG
Next week, I'll participate in a couple of conferences. One of them will be on e-health at EBG:
So, while preparing for this talk, I have been asked to send my bio. It is always difficult to write about you but I found one cool technology with Yseop. You log in the link and sign in with your Linkedin account. After a couple of checks, the natural language generation sends you an automatic bio based on your online profile.
Cool, no?
January 28, 2015
@argusassurance : Investissements d’avenir et financements des startups sur le marché de l’assurance avec @Minh_Q_Tran et Marie Ekeland (@bibicheri)
This morning, I went to talk about AXA Seed Factory in this theme:
Investissements d’avenir et financements des startups sur le marché de l’assurance with Marie Ekeland, Fondatrice-présidente de France Digitale et membre du Conseil National du Numérique.
Informations pratiques :
- Date : Mercredi 28 janvier 2015 de 08h45 à 10h00.
- Adresse : Pavillon Kléber, 7 rue Cimarosa, Paris 16ème.
Basically, AXA Seed Factory contributes to the insurance market by bringing 3 things:
- AXA... = sourcing startups worldwide in the insurance market
- ...Seed... = making investment in the equity gap between Business Angels and VC
- ... Factory = creating new products/services with insurance companies
Many examples now with @Fundshop1, @Particeep, @Widmee, @Getflyr and soon 2 new investments
Stay tuned !
December 14, 2014
August 02, 2014
July 19, 2014
Minh Q. Tran
http://about.me/minh_q_tran
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