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About this Episode

In the latest episode of Fintech Chatter, host Dexter Cousins chats to Simon Schwarz, Co-Founder and CEO of FreightInsure, about his journey from fintech to insurtech.

Simon shares how his career from investment banking, to fintech, to insurtech (working with SocietyOne, Zip and BizCover along the way) has shaped his current scaleup, FreightInsure.

We take a deep dive into Simon’s strategy to build FreighInsure and how the MGA (Managing General Agent) model has enabled the distribution of embedded insurance products.

Simon reflects on the dual responsibilities as Co-Founder and CEO, and his life hacks for balance and well-being.

About Simon
Simon is the Co-Founder and Managing Director of FreightInsure, Australia’s leading platform for embedded freight insurance.

He started his career at Investec Bank in Australia, holding roles as Head of Investments, Head of Credit and Head of Board Risk and Capita. Simon has sat on boards as a Non-Executive Director and Chairman at several investee companies. He has also acted on advisory boards at Zip Co and Middle, and is a Board member of Insurtech Australia and the Regulatory and Compliance Working Group.

Simon is a graduate of the Australian Institute of Company Directors, holds an MBA (Exec), Masters of Applied Finance, and is the recipient of the University Medal for pure mathematics from the University of Sydney. He was an Honorary Fellow at Macquarie University’s Applied Finance Centre and a member of the Menzies School of Health Research Development Committee.

About FreightInsure
FreightInsure offers embedded goods-in-transit insurance directly from a transport company's booking platform. Shippers no longer need to buy annual marine insurance policies, but can simply purchase insurance on a needs basis, when booking their freight, within less than a minute.

Key Takeaways

• How the MGA model allows for rapid growth without the need for capital reserves
• How distribution innovation is big Insurtech opportunity
• How AI applications are being developed to enhance underwriting processes
• Freight and logistics market isn’t sexy but it presents vast opportunities for growth
• Identifying profitable market opportunities is crucial for business success
• The quality of founders is the key to a startup's success
• Focus on distribution to solve market problems effectively
• The role of a founder differs significantly from that of a CEO
• InsurTech in Australia is gaining momentum and attracting capital

Chapters
00:00 Introduction

05:54 The Birth of FreightInsure

12:01 Innovation in Distribution

17:57 Future Innovations and AI Applications

25:15 Identifying Market Opportunities

30:54 The Dual Role of Founder and CEO

39:00 The InsurTech Landscape in Australia

Links & Resources:

• Visit FreightInsure website
• Connect with Simo

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