The Reinventing Finance Podcast - Episode 2 with Simon Torrance, Embedded Finance and Insurance expert

Reinventing Finance

Simon Torrance is one of the world’s leading experts on business model transformation, specialising in platform strategy, breakthrough innovation and digital ventures, and is an independent advisor to boards and leadership teams, fundamentally improving their economics as digitisation affects them. He currently focuses on the hot topic of embedded finance and insurance, which he projects offers a market opportunity worth over $7 trillion in ten years’ time.

For this second episode, Simon discussed and shared his expertise on the following topics:

✅ Embedded Finance/Insurance: How do you define that topic and why is it so important?

✅ What are the societal and commercial benefits of this market opportunity and of closing the protection gap?

✅ What are examples of positive societal aspects in this area and should regulation speed up?

✅ What is the big buzzword “financial wellness” exactly about and how are companies helping people manage their financial wellness?

✅ Why is private and public collaboration important to close the protection gap?

✅ Do you think that partnering up with a large digital distributor will actually drive down the cost of distribution from an insurer perspective or will it be more difficult, having to deal with more powerful distributors?

✅ Putting yourself in the position of a board member/CEO of an incumbent insurer, what is your advice and what would you say are the key steps to capture this market opportunity?

For more information on the market opportunity of embedded finance, check out Simon's articles here:

https://www.linkedin.com/pulse/embedded-finance-game-changing-opportunity-incumbents-simon-torrance/

https://www.linkedin.com/pulse/embedded-insurance-3-trillion-market-opportunity-could-simon-torrance/?trackingId=9%2FetEvcXvoB7vjNTdXNowg%3D%3D