The insurance “best of the best” on investing in technology

Megan Duckworth, Mitti Insurance

IB found that Megan Duckworth, co-founder of Mitti Insurance (Mitti), has formulated a new way of doing things.

“Over the past 12 months, we leaned on the insurtech Australia family, a community of experienced and knowledgeable people,” Duckworth said. “That has been a great way for us to do things differently to drive value to our customers.”

Duckworth is also the head of sales and underwriting at Mitti. She leads a team of eight underwriters and sales professionals.

“2022 was the year we really got the business going,” she said. “To be able to develop and introduce the business and an offering that was quite different to what was available in the market was pretty exciting.”

Angat Sandhu, McKinsey & Company

Angat Sandhu, partner at McKinsey & Company in Sydney, emphasised the benefits of focusing on technology and innovation.

“The industry could benefit from a step change in digital and innovation,” Sandhu said.

“On the digital side, many insurance processes are still overly manual (e.g., underwriting and claims) and not as sophisticated as in many other markets.

“Furthermore, the digital direct-to-consumer segment is still relatively less mature in Australia than in many other markets.”

Learn more about Duckworth and Sandhu and their companies, as well as the rest of the winners this year, by reading the IB Hot List 2023 report.