"So much has changed that I think first and foremost, there has been just a reality check on both sides of the equation in as much as I think insurers and reinsurers are far better equipped now to understand the value of technology, particularly as it relates to their own businesses...because they haven't seen disruption at large, I think that there's less fear." - Andrew Johnston

In this episode, Andrew Johnston, the Global Head of InsurTech at Gallagher Re discusses InsurTech's evolving landscape and his eclectic journey from studying abroad in Japan to shearing alpacas and eventually gravitating towards the insurance sector.

Andrew notes the transformative trajectory of InsurTech, from initial apprehensions about technological disruption to a more nuanced understanding of technology as an integral enabler within the insurance industry.

Andrew discusses the recent dynamics of InsurTech funding, noting a shift from large, speculative investments to more strategic, value-driven funding approaches by insurers and reinsurers. The conversation emphasizes the critical role of founder mindset, highlighting the success of those who approach the industry with humility and a willingness to integrate into the complex insurance landscape. It also touches on the challenges and opportunities in expanding InsurTech's role beyond traditional frameworks to include value-added services, aiming to more deeply embed technology in enhancing customer experiences and outcomes.