009: Blockchain & the Insurance Industry - with Ranvir Saggu

On today's episode, Ranvir talks about his 25 years of experience with the insurance industry. Ranvir has spent the last 4 years working to solve some of the insurance industry’s biggest challenges. You can expect to hear all about Ranvir’s success in providing a supply chain that operates much more efficiently through technology and which, in turn, will provide effective solutions to the industry and its future. LEARNING OBJECTIVES: Understand the ways in which technology can enable better customer service for the end user. Think differently about the status quo of back end administration and look for ways to work more efficiently. Summarise how blockchain can support the user experience in the insurance industry. “Blockchain takes out all of the operational friction between client, broker and insurer. It minimises common mistakes made by users in the industry.” Create awareness around blockchain technology use in the future of the insurance industry. BEST MOMENTS: ‘’The first broker to have used our product said it saves him 90% in back office cost savings. He has border, no cash reconciliation and he doesn't need to worry about his broker orders. He doesn't need to worry about its compliance with his TOBA. All those things are done for him automatically.” ‘’We don’t focus on how to save our customers money; we focus on providing our customers with the freedom to choose what they do with their additional profitability.’’ ‘’...our system provides a lot of functionality. I've also worked in the insurance industry for a long time so I know that people will have legacy systems and different types of systems that they all need to be connected up to. It's up to the broker and the other system providers to say, well, actually, we can see how this infrastructure works and it isn't a threat.’’ ‘’We've created the platform so that there is a front end product configurator, in which you can build your schemes or your products fairly quickly. It's a generic way of doing it, but it's fairly quick for us and the cost of that is fairly low.‘’ RESOURCES: Blocksure Website: https://www.blocksure.com ABOUT THE HOST Sarah Myerscough is the Sales and Marketing Director of Boston Tullis Group. The founder of The Insurance Brokers Podcast, she brings a wealth of marketing experience and a fresh perspective on marketing in the insurance sector. Boston Tullis works with insurance brokers to offer solutions to business development ceilings, particularly in the rapidly developing fields of video marketing and thought leadership. If you would like Sarah to help you develop an integrated marketing strategy, using state of the art concepts, then please book a free 20 min call via Calendly    Website: https://bostontullis.co.uk/ Evaluation Link: https://s.bostontullis.co.uk/s/podcastevaluation ABOUT THE GUEST Ranvir Saggu is the CEO of Blocksure - an insurance solution company built entirely on blockchain capabilities. He has over 25 years’ experience in the industry and has driven growth and performance improvement across composite insurers, MGAs, brokers and claims TPAs. He is accomplished in change-management delivering large transformational programmes and building high-performance teams. LinkedIn: https://www.linkedin.com/in/ranvir-saggu-a2604528/ Evaluation Link: https://s.bostontullis.co.uk/s/podcastevaluation