In this episode of the Insurtech Leadership Podcast, host Josh Hollander sits down with Sachin Kulkarni, EVP and Head of Americas for Commercial, Specialty, and MGA at Xceedance. With a unique background that spans from IT strategy at Marsh to leading operations at a fast-growing insurance technology services provider, Sachin offers invaluable insights into the evolving landscape of insurance technology and operations.
Sachin discusses Xceedance's journey as a domain-focused service provider, emphasizing the critical balance between technological innovation and core insurance expertise. He shares candid perspectives on the challenges of change management in the insurance industry and provides strategic advice for companies looking to leverage technology for competitive advantage.
Key Insights:
- The shift from people-based to technology-led engagements in insurance operations
- Strategies for aligning technology adoption with core business capabilities
- The rise of MGAs and specialty insurers, and how technology is enabling their growth
- Balancing onshore and offshore operations to maximize efficiency and client satisfaction
- The future of AI in insurance, including responsible implementation and regulatory considerations
Key Topics Covered:
- [00:41] Xceedance's foundation as a service provider and Sachin's career evolution from Marsh to insurtech leadership
- [03:11] Debunking the myth of insurance industry's resistance to innovation
- [07:25] Ensuring technology solutions drive real business value, not just novelty
- [13:42] Market segments leading and lagging in technology adoption
- [18:03] How Xceedance supports insurers at various stages of growth
- [21:38] Practical applications of Gen AI in insurance operations
- [23:04] Navigating the complexities of AI regulation and responsible implementation
- [25:31] Lessons learned in expanding from India to the US insurance market
- [30:50] Advice for capitalizing on industry changes and overcoming challenges
Notable Quotes:
- "We didn't want it to be a people-based engagement, but we wanted to be a technology-led engagement." - [04:06] Sachin Kulkarni
- "Technology is enabling business, enabling the insurance process. It is not the business process." - [07:36] Sachin Kulkarni
- "If a company does not take a step back and see how this change is being incorporated, very soon there can be no value coming out of it." - [06:15] Sachin Kulkarni
About Our Guest:
Sachin Kulkarni is the EVP and Head of Americas for Commercial, Specialty, and MGA at Xceedance. With a background in IT strategy at Marsh and extensive experience in Property and Casualty Insurance, Sachin brings a unique perspective on leveraging technology to enhance productivity and drive innovation in the insurance industry.
Resources:
Sachin Kulkarni
Josh Hollander
