In this episode of The Coverager Podcast, I spoke with Ryan McMahon, VP of Insurance and Government Affairs at Cambridge Mobile Telematics (CMT). The interview was inspired from a private conversation Ryan and I were having around connecting devices with insurance.

As an insurance professional, I was taking it for granted that the technology was "here" and that insurers just had to decide to absorb it into their ecosystem. What Ryan and I discussed are the layers of complexity involved in doing this from scratch. Not only in the initial build but also all subsequent builds. The maintenance is often more costly than the initial build, requiring a dedicated team that can stay on top of the technology and pivot where necessary. As Ryan says, in order to execute successfully at scale, the small minor details MUST be addressed, because at scale, small issues compound to big problems. This is one of the advantages agile companies have over non-agile, and that insurtechs, by and large, are bringing to insurance solutions. 

Having the will to build is not enough. Having the commitment to build is not enough. It has to become part of the DNA of the insurer. The ability to think of the product and solution in a way that is a major departure from how carriers traditionally thought about it. 

𝐂𝐨𝐧𝐧𝐞𝐜𝐭 𝐖𝐢𝐭𝐡: Ryan McMahon
 https://www.linkedin.com/in/ryanjamesmcmahon/Cambridge Mobile Telematics Homepage
 https://www.cmtelematics.com/  𝐌𝐮𝐬𝐢𝐜𝐚𝐥 𝐂𝐫𝐞𝐝𝐢𝐭𝐬: Shadows by David Cutter Music:https://davidcuttermusic.comFree Download / Stream:https://soundcloud.com/dcuttermusic https://bit.ly/shadows-david-cutterMusic promoted by Audio Library:https://youtu.be/qiBHOiEl9EI  𝐕𝐢𝐝𝐞𝐨 𝐂𝐫𝐞𝐝𝐢𝐭𝐬: Intro Stock Footage by Videvo:https://www.videvo.net/video/financial-district-singapore-02/458700/