Scouting for Growth
00:57:37 · Sabine VanderLinden, Amrit Santhirasenan
[00:57:37] S1: And so when we start looking at the fact that, and you know, the research that the E1, Microsoft, McKinsey, all the top consultancy talk about that, the importance of modularity, flexibility, this flexible architecture, right, to avoid building tomorrow's legacy, how you make sure that everything you do is adaptable in the age of AI? [00:58:00] S2: Yeah, it's a hard question. And, you know, I think I'm a big believer that, I say this inside my company, but trying to avoid tomorrow's legacy is a recipe to get nothing done. Right? And so I would say pick the areas where they are reversible and they're testable. I probably wouldn't be looking to replace... Rip out and replace my core ledger system with an AI based system today. I probably wouldn't be doing that. Maybe there are some, maybe if I was selling that software, I wouldn't be saying this. But I wouldn't be looking to rip out like that. Those are systems that are fundamental and you get them wrong, you get some hallucinations there, you're in real trouble. But I would say to avoid tomorrow's legacy, pick an area where you can afford to have some risk. And I say this to our clients, like how many of your spreadsheets are perfect? Yeah, how many of them really are completely error free that result in a really wonderful user experience that aren't fragmented and messed up? So don't look tomorrow to fix all of those problems. I would say understand two way doors and the one way doors, and go through the two way doors as quickly as you can. Be careful of the one way doors, for sure.
00:59:11 · Sabine VanderLinden
[00:59:11] S1: Yeah. Absolutely. So let's look at five years from now, Amrit. What does the underwriting landscape look like if agentic AI adoption accelerate as an unpredictable speed? What does it mean from an emerging technology viewpoint? What does it mean from an emerging risk viewpoint? And the fact that we just don't only have the data within the insurance box, right? We are using IoT data. We are using digital twins. We are using all this amazing new tech coming to us. What does that look like for you?
00:59:47 · Amrit Santhirasenan, Sabine VanderLinden
[00:59:47] S2: Yeah. Gosh. You know, the world has changed so much in six months, five years. As an actuary, I try to avoid these predictions, but I'll give it a go. So what will I say? I always like the Jeff Bezos framework. What's not going to happen? Right? No one's gonna ask for slower customer service, longer delivery times and more expensive products. You know, I think we can use the same framework here. I think we're going to see a very significant improvement in service. I think that's an area that I think we'll be able to really materially drive over the next few years. Think really it is the era of the underwriter right now. I think it's going to be a situation where they can feel for many years they probably felt hard done by with the quality of life improvements that technology has brought to them. But I think you're going to see massive improvements there. I You're think going to see that in months, not even years. I really do believe in the power of the technologies that we're seeing today to increase the coverage, reduce the coverage gap. I do think that think that's really, really, really key. I think the reality is there's gonna be whole new jobs. That's probably an area that I see really clearly. I think we're gonna see a complete shift actually in the nature of the jobs that people do. Right? It is much easier now for a technical underwriter to do actuarial work than it's ever been before. [01:01:02] S1: Absolutely. It's easier for an actuary to be
01:01:02 · Sabine VanderLinden, Amrit Santhirasenan, Sabine VanderLinden
[01:01:02] S1: Absolutely. It's easier for an actuary to be [01:01:05] S2: a software engineer. So, you know, I think maybe those are the predictions I'd say. Maybe more hybrid jobs, hopefully better coverage, better service. [01:01:12] S1: 100%. Lovely way to finish better coverage, better service, and then probably we become more curious. What I've learned in the age of AI, when I can't sleep at two, 03:00 in the morning, I'm on chat, GPT, asking question about the world. So hopefully I will, mean, I hope I will be wiser, but also a much more informed person in the future. Thank you so much for joining me, Amrit, and I cannot wait to see you very soon at ITC Vegas, Jess, in a few weeks. You so much for joining me. [01:01:48] S2: Thanks for having me. It was really fun. [01:02:08] S0: I hope you enjoyed this episode of Scouting for Growth. Please subscribe, share with friends, and leave a five star rating. Your rating is so valuable. I'll review all of them, and my team help me adapt content to meet your needs. Also connect with me on my preferred channels. I am a b to b growth expert, so you will find me on LinkedIn, Instagram, and Threads, NX as well as well as Blue Sky. All information available below. Until next, keep scouting for growth.