Scouting for Growth
00:00:16 · Sabine VanderLinden
[00:00:16] S0: Welcome to Scouting for Growth, the podcast that brings you insights from executive senior leaders, innovators shaping the future of business and technology. I'm your host, Sabine VanderLinden. Today, I am thrilled to welcome Richard Gunn, the Chief Revenue Officer at Hyperexponential, to our show. Richard is at the forefront of revolutionising the insurance industry through advanced pricing decision intelligence. As a key figure at Hyperexponential, he is driving the adoption of Hx Renew, a cutting edge pricing decision intelligence platform designed specifically for commercial insurers in Europe and beyond. Richard's expertise in leveraging technology to solve complex pricing challenges for his customer within the Hyperexponential team has positioned him as a thought leader in the insurance industry and the technology space too. His role at Hyperexponential involves not just driving revenue growth, but also helping insurance companies make more informed, data driven pricing decisions that can significantly impact their bottom line and drive top line revenue. The team at Hyperexponential already works with many companies, and some of the names I remember just now include Veeva, Conduit Re, Convex, and Aegis London. Today, though, we will explore how Exponential is changing the pricing paradigm for insurers, the importance of advanced pricing decision intelligence in today's rapidly evolving market and Richard's vision for the future of the insurance industry. It is important to note that pricing in this context include risk assessment, risk scoring, rating, and pricing. Not just pricing, actually, or not just pricing modeling. It includes an ecosystem of capability and also through API key partners to differentiate every insurer's internal pricing landscape. Richard, it is a pleasure to have you here on Scouting for Growth, so welcome to the show. Hi, Richard. What an honor to have you on Scouting for Growth today.
00:02:53 · Richard Gunn, Sabine VanderLinden
[00:02:53] S1: Likewise. The honor is mine, Sabine. So thank you for having me. [00:02:56] S0: My pleasure. So to get started, and I love that question because it helps with context, Richard. So who is Richard and what got you to become one of the early joiner of Hyperexponential? [00:03:13] S1: Yeah, sure. So it feels like an existential question. [00:03:16] S0: I know.
00:03:19 · Richard Gunn
[00:03:19] S1: Probably answer it the the orthodox way rather than turn this into a therapy session. So, yeah, I'm one of the directors and chief revenue officer at Hyperexponential, so responsible for kind of our go to market. So all aspects of marketing sales, customer, and so on and so forth. Really, really responsible for working, like, closely with product to make sure that we're listening with the mark... To the market and providing solutions that that they need. In terms of why I joined Hyperexponential, so I was fortunate to join Hx or Hyperexponential very early in their journey. I joined as their first non engineering hire, and it was a time in my career where... It was about five or six years ago. So very much the zeitgeist of the day was was crypto, and I started working with some early stage businesses in the crypto space and kind of built a passion around technology and applying that to different businesses. And Amrit and Michael, the two cofounders at at Hx, were in stealth mode at the time. If you went on their website, you had to put a password in just to be able to to kinda see what they were up to. And they were looking for their first non engineering hire. So I kind of reached out to them, and I I knew very quickly having met them that there couldn't be that many people who are as passionate about the intersection of technology and insurance as these two people. And, like, my philosophy was if you put that amount of kind of energy and enthusiasm in a room, you'll find, like, you'll find the natural conclusion very quickly. So they would either find product market fit very quickly or they'd crash and burn very quickly. But Yeah. In any event, I'd learn a lot. And, thankfully, they did find product market fit very quickly and have been on the journey with them since.
00:04:44 · Sabine VanderLinden, Richard Gunn
[00:04:44] S0: Yeah, it's interesting when you say there are very few people liking technology and insurance. I hope you will include me as one, as well as Nigel Walsh, because we have been in the industry for quite a while, right? [00:04:57] S1: Absolutely. Mister and missus in short tech. So... [00:05:03] S0: But, you know, when I think about Hyperexponential, and I know I reached out to you many years back because I was really fascinated by what you were doing there. And when you think about decision intelligence is an area I dove into many years back when I was working with FICO and Pega as well. So first, what does ep exponential mean for you, for the team? And tell us a little bit more about Hx and Hx Renew as well so that we have a little bit of a context around the company and what you are doing for our industry.
00:05:39 · Richard Gunn
[00:05:39] S1: Yeah. So there's a number of questions in that. So what are we what does it mean? What are we trying to build? So trying to build the analytical backbone of the insurance sector, looking at it through the lens of pricing, right? In terms of like where we operate and what we focus on, we kind of... The verbiage we use is we're enabling our clients to achieve pricing decision intelligence. And you mentioned you got kind of experience in that in that field, but what I'd really resolve that to is just creating, a tight iterative feedback loop between, like, data decisions and outcomes. And so we're very focused in the context of pricing around how we can enable clients to achieve that, and that was a motivation for why we built Hx Renew. So Hx Renew is platform. It's very much a platform. So, like, a a key a key part of our offering is that we enable the actuaries in insurance, reinsurance, MGAs in the market themselves to build, deploy, and iterate on those on those pricing models themselves. So that's in terms of, like, what we do. Like, why we're here? It's probably a slightly different question. That'll be more, like, akin to looking at our values and and the kind of culture that we're trying to build. Like, ultimately, we look to hire people who are very passionate about this space, who are very invested in learning, and then we all kind of combine on the same problem to try and, like, actually kind of, like, further this part of of pricing as much as possible.
00:07:01 · Sabine VanderLinden, Richard Gunn
[00:07:01] S0: That's cool. And so I heard you had Hx live recently. How did that go? Tell us about the conference. I assume you are going to do this every single year now. [00:07:13] S1: Yeah. So it started... So last year, we did a summer party, which was like dip your toe in the water. We figured people would at least turn up if they knew that there's alcohol there. And then this year, we built up the courage to do HxLive, which is predominantly customers and some partners, like a celebration of what we've achieved, a few customer panels and so on and so forth, but also sharing a little bit more around our vision and what the what is the next year, what's the next two years gonna look like. So we were, yeah, in inundated with with applications. We were actually oversubscribed, which was great. I think we had over 250 people there for the day and more people for the evening. Apparently, we had gate crashers, which is good. Interesting. It... It's definitely something we'll be doing each year. And in fact, we've... I'm recording this from from New York. We just opened our New York office, and we've got plans to start with a user group in New York as well with some of our clients over this side of the pond. And then I expect that's something we'll run kind of multi threaded. We'll have a New York Hx live as well as a London one.