JAVLN taps new CEO as insurtech gears up for global expansion

JAVLN taps new CEO as insurtech gears up for global expansion | Insurance Business Australia

Technology

JAVLN taps new CEO as insurtech gears up for global expansion

Other leadership changes revealed

Technology

By
Roxanne Libatique

Medibank is expanding its four-day work week trial, doubling the number of participants from 250 to 500 employees.

The expanded trial will continue to be monitored by the Health and Wellbeing Research Unit (HoWRU) at Macquarie University’s Business School.

The four-day work week trial follows a 100:80:100 approach, allowing employees to maintain 100% of their pay while reducing their working hours by 20%, with the expectation that productivity remains unchanged.

“We’ve seen significant and sustained improvements in employee engagement, job satisfaction, and the health and wellbeing of participants while maintaining business performance and customer outcomes,” she said.

Impacts of Medibank’s four-day work week trial

The six-month trial results showed stable productivity, with increases in both engagement (+6.7%) and job satisfaction (+4.5%).

Participants also reported improvements in work-life balance, with a 10.4% increase in their ability to disconnect from work.

Teams reduced time spent on low-value activities, such as unnecessary meetings, and adopted more efficient processes, helping them achieve performance targets while enjoying shorter work weeks.

Participants also reported better overall health, improved sleep patterns, and a reduction in stress.

Partners for Medibank’s extended four-day work week trial

Medibank is now working with Four Day Week Global and Macquarie University to identify which teams will participate in the next phase.

Bishop reaffirmed Medibank’s commitment to workplace innovation, noting that the company sees the trial as part of its broader mission to support both employees and customers.

“Our four-day work week experiment is just one of the ways we’re innovating to drive greater autonomy in the workplace and support better decision making for customers,” she said,

Mental health and wellbeing take priority in Australian workplaces

Medibank’s four-day work week expansion comes at a time when Australian businesses are increasing their focus on mental health and employee wellbeing.

The study highlighted ongoing concerns about burnout and fatigue in the workforce, with nearly half of all Australian workers reporting high levels of stress.

Additionally, 36% of employees are considering leaving their jobs in the next six to 12 months. A significant factor contributing to this dissatisfaction is the perceived lack of empathy from managers – 31% of workers said their managers do not show adequate understanding of personal circumstances, and 28% believe unconscious bias impacts how their performance is judged.

This lack of support has contributed to a rise in psychological workers’ compensation claims. Allianz noted a 47.5% increase in active psychological claims over the past five years, with a 30% rise in days off due to mental health issues.

Economic pressures, such as the rising cost of living, also play a role in employee dissatisfaction, as staff shortages and increased workloads exacerbate workplace stress.

Although many managers believe they are providing empathetic support – 85% reported that they show empathy toward their teams – only 46% of employees agree. The gap highlights a need for more open communication and enhanced mental health support, particularly as companies face increasing pressure to improve workplace culture in the face of economic challenges.

Insurtech company JAVLN has appointed David Leach as its new chief executive officer, effective Oct. 14.

Leach (pictured, left) will replace the company’s founder, Dale Smith (pictured, right), who will transition to the role of chairman after leading the business for over a decade.

JAVLN leadership transition

Smith, who launched JAVLN in 2011, shared his thoughts on the leadership transition, noting the significance of stepping down.

“When you build a company like JAVLN from the ground up, there’s a huge amount of pride there of course, and it was a decision I didn’t make lightly,” he said.

Smith will remain the company’s majority shareholder. Kerry McIntosh, the current chair, will continue to serve on the board.

JAVLN’s new CEO

Leach previously served as CEO of a New Zealand-based software firm specialising in inventory management. He brings extensive experience in scaling technology businesses and has been involved with JAVLN as a board member for the past four months, during which he has contributed to the company’s strategic direction.

“JAVLN is extremely well positioned for growth and fresh leadership from someone like David, who has a strong track record with scaling tech companies,” he said.

Leach’s appointment marks a key leadership change at JAVLN as it prepares to scale its operations globally. The firm has been expanding its executive team in 2024 to support these growth ambitions.

The insurtech company has reshuffled its leadership amid growing interest in artificial intelligence (AI) within the insurance industry.

AI adoption in insurance

A global survey by UserTesting, conducted by Talker Research, surveyed 4,000 adults across Australia, the US, and the UK to gauge attitudes toward AI and insurance.

According to the study, 88% of participants prefer receiving insurance advice from a person rather than AI. However, 25% of Australian respondents acknowledged that AI could be helpful in making complex insurance information easier to understand. Additionally, 45% said they believe AI could play a useful role in comparing insurance policies.

In Australia, 32% of respondents reported difficulties understanding their insurance coverage, and 27% expressed concerns about sudden increases in premiums. Another 23% mentioned challenges with filing claims.

Confidence in understanding coverage varies by type of insurance. Australian respondents showed the highest confidence in auto insurance (72%) and health insurance (69%), but felt less knowledgeable about dental insurance (42%) and pet insurance (41%).

As AI technology becomes more integrated into the insurance industry, its role in assisting consumers is expected to grow.

The survey’s findings suggest that while there is potential for AI to improve the insurance experience, transparency and ease of use remain critical to addressing consumer pain points. AI may provide insurers with an opportunity to simplify processes, but its success will depend on balancing technological solutions with human interaction.

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