David joined the OpenUnderwriter team in March 2014 and has 25 years’ experience delivering complex technology solutions to a range of organisations in both the financial services and retail sectors. He was previously the CEO of Insurecom and led the successful acquisition by Applied Systems Inc. He has also previously held senior positions at BT and Sainsbury’s. David is responsible for the overall business strategy of OpenUnderwriter. David sits as a non-executive director for other innovative, fast growth technology firms.
The InsurTech revolution is in full swing with millions of pounds being invested trying to re-think inefficient and outdated operating models.
With the demand for low cost insurance growing at a phenomenal rate and a large increase in the number of member and community based organisations (cooperatives and mutual) especially in the developing world, the demand for innovative, cost effective technology has never been higher. With enormous potential benefits to both state and consumer, low cost insurance provides a financial safety net to some of the lowest income families around the globe but to date, traditional technology solutions have been ill equipped to support this market.
New platform to give African insurance providers a low cost distribution channel.
Tech Equity Ltd and OpenUnderwriter have today announced a partnership to provide an innovative set of cloud insurance services to the African market.
The partnership offers a robust, cloud hosted platform that will give African insurance providers a low cost distribution channel for their products. It will allow these products to be provisioned and purchased using SMS (as well as traditional methods), which will potentially open up a whole new market for low cost insurance.
UK on-line retail sales are set to hit £52.5bn in 2015 and for the first time ever the IMRG Capgemini Quarterly Benchmarking Report has revealed that visits to on-line shopping sites on mobiles has overtaken desktop.
This means it is now more important than ever for brokers to have a clear digital strategy if they want to remain relevant in today's increasingly competitive marketplace.
25-34 year olds are leading the way in this mobile usage and although the majority may not yet own homes or businesses and may be driving their parent's car, they have a completely different approach to purchasing that needs to be catered for effectively. If you can’t service this demographic through a mobile device then you are going to be invisible to a growing and lucrative sector of the market.
Hello everyone, I'm David and I joined the OpenUnderwriter team in March this year as Strategy Director.
I was previously CEO of Insurecom who were an Insurance Technology company in Brighton before they were acquired by Applied Systems in Aug 2013. I'm passionate about the innovative use of technology to make business more efficient and I really think that the Insurance Industry can be better served.