Q&A with Ali Safavi, Global Head of Insurtech, Plug & Play
We met one-on-one with Ali Safavi at InsureTech Connect 2018 to discuss Plug & Play’s investment strategies and how the investment firm is trying to put more of an emphasis on broker-focused insurtech solutions.
In terms of investment versus partnership, day one everyone thought if we’re talking about a startup that means investing in them, but now they’re looking at startups as a service vendor or service provider. That fundamentally has changed the way everything works.
The best combination would be balance: someone that’s business-savvy, someone that has knowledge of tech, someone that has knowledge of insurance. But sometimes you don’t have all the pieces.
A lot of the other technologies that clients are interested in is client technology, which means enterprise tech. It could be HR, or IT—a lot of the benefits brokers are interested in HR tech, which has nothing to do with insurtech.