Franklin Manchester: Essential Strategies to Protect Your Data in 2024

On this episode of the Scouting For Growth podcast, Sabine VdL talks to Franklin Manchester, Global Insurance Strategic Advisor at SAS, who, empowers and inspires insurers in 75 countries, including 90% of the Fortune 500 insurers, to make data-driven decisions. On this episode they discuss insurance trends for 2024, the role of technology, particularly generative AI, in shaping the future of the insurance industry, and how to navigate the talent gap. KEY TAKEAWAYS I see the enormous potential for SAS and other technology providers, curators of AI, to remake, reimagine, reinvent the insurance industry. Insurance exists because a loss happens and indemnification is that promise. I believe there is a different promise: Prevention, pivoting from indemnification to a value proposition where we can help you before the loss occurs, and that will change the world. Even though I work at a technology corporation, I’m an insurance underwriter. When you’re going through your knowledge building phase to become an underwriter, you realise that the art of what we do is more important than the science. That starts with curiosity, asking the question and imagining the possibilities. You can’t be an underwriter if you’re not curious about the things that matter most. I get to have a lot of conversations with people in the global insurance industry about things that are going on. For example, what telematics can do to prevent incidents of distracted driving. The assumption is that teenage and inexperienced drivers are most likely to get distracted while driving, but the vast majority of those of us who need help with distracted drivers are not teenagers. One company experienced a 10% reduction in distracted driving when they recommended silencing your phone while driving for ‘x’ reasons. That’s a result, and an enriching discovery. BEST MOMENTS ‘I got my start in insurance because I was in a car accident… I found the process incredibly interesting’‘I believe in the promise that the industry provides; we come at the moment when people need us the most.’‘The journey is more important than the destination.’‘I feel like I’m an explorer and every day is a new discovery.’ ABOUT THE GUEST Franklin Manchester is a dynamic and passionate leader in the insurance industry, currently serving as the Global Insurance Strategic Advisor at SAS. Known as an "Insurance Super Nerd," Franklin leads the Market Strategy and Engagement for Insurance within the Global Financial Services Industry Marketing team at SAS. Franklin holds a BS in Finance and Banking, Risk and Insurance, and a BA in French. His journey in the insurance industry spans nearly two decades, including a significant tenure at Nationwide. Franklin is not just an insurance expert but also a thought leader, regularly sharing his insights on industry trends and early career tips. He has been a guest speaker at various industry events, including the Gamma Iota Sigma Rho's Fall Speaker Series. https://www.linkedin.com/in/franklin-manchester-cpcu-52910321/  ABOUT THE HOST Sabine is a corporate strategist turned entrepreneur. She is the CEO and Managing Partner of Alchemy Crew, a venture lab that accelerates the curation, validation, and commercialization of new tech business models. Sabine is renowned within the insurance sector for building some of the most renowned tech startup accelerators around the world working with over 30 corporate insurers and accelerating over 100 startup ventures. Sabine is the co-editor of the bestseller The INSURTECH Book, a top 50 Women in Tech, a FinTech and InsurTech Influencer, an investor & multi-award winner.  Twitter: SabineVdLLinkedIn: Sabine VanderLindenInstagram: sabinevdLofficialFacebook: SabineVdLOfficialTikTok: sabinevdlofficialEmail: [email protected]: www.sabinevdl.com

Om Podcasten

There are 100,000 FinTech ventures out there. These include FinTechs, InsurTechs, HealthTechs, WealthTechs for instance. And the number keeps on changing every month. One statistic that remains the same is that 25% of these ventures have received investment and support from the financing world. 75% of these businesses are seeking financing support from top investors as well as commercial collaboration opportunities with corporations.  Through this podcast series, I would like to demystify the world of corporate venturing, including venture capital investing and corporate venture capital investing for the masses, and give intrapreneurs, inspiring investors, and young ventures, the strategies, tools, and techniques to grow and scale their business by understanding how corporations and corporate investors think… as well as how unicorns are built.  So, listen in, share and comment as you see fit.