Podcast: Reid and Clegg present Double Indemnity – episode eleven, Vivek Banga of Polaris

Speaking with hosts Stuart Reid and Toby Clegg, Banga explains how the industry-owned offering was set up over thirty years ago to progress digital trading in commercial and personal lines.

In his view, 2015 was the true ‘tipping point’ when the conversation changed across insurance from ‘why do digital trading?’ to ‘why not?’.

Services are getting more and more adapt at digitising complex risks, he argues, with boundaries being continually pushed.

However, he states despite the progress and evolution, there is a lot more to come, with the sector still only really “scratching at the surface” of commercial GWP.

The challenge, Banga notes, is particularly acute due to the UK having been a first-mover around the world.

The Polaris boss also confirms it has over 3,000 occupations on its list, which is regularly updated; gives his insight on the extranet versus software houses debate; tackles whether there is a disconnect between ‘technologists’ and ‘practitioners’ on the front line of insurance dealing with customers; and shares his own journey into the specialism.

Catch up on the entire series through our bespoke Double Indemnity page, which includes recent episodes featuring:

• Dame Sue Langley, the Lady Mayor of the City of London
• Dave Martin, managing director for UK commercial and chief distribution officer at Aviva
• Sukie Harrar, CEO of Holborn Underwriting

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