#113 - Incubating Climate Risk / Insurance Solutions as Traditional Insurers Pull Back w/ Stephen Brittain (Insurtech Gateway)

CleanTechies is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.(the following summary is provided by CoHost.AI via the Buzzsprout Platform)Are you ready to unravel the intricacies of InsureTech with industry innovator, Stephen Britton? Our discussion takes you on a journey through Stephen's unique transition from a mechanical engineer to an industrial designer, shedding light on how technology is becoming more accessible to customers and empowering them to make informed choices. We dive into the exciting realm of data utilization, sensor technology, and the importance of these tools in reducing impact. Stephen's 30 years of experience brings an enlightening perspective on how data can inspire action toward climate change.Grab your seat as we unpick the fascinating world of insurance, exploring how it's adapting to new challenges such as climate risk. We broach subjects from pricing to risk mitigation, offering a comprehensive view of the elements considered when creating an insurance package. Stay tuned as we delve into how the industry is accommodating new types of risks and customers and the growing need for specialized talent in the climate tech space. Headlining our discussion is Ibiza, an innovative startup working to safeguard small-hold dairy farmers in India from the devastating effects of extreme heat. We examine the unique hurdles they face when creating insurance products for intangible assets like yield and discuss the scalability of such a model. In the grand scheme of things, we'll be exploring the vital role startups play in mitigating big strategic problems, and how insurance can help de-risk the often expensive world of farming. So, whether you're a startup founder or an insurance enthusiast, you're in for a treat with this episode.In this episode, Silas Mahner (@silasmahner) speaks w/ Stephen Brittain from Insurtech Gateway (@Ideas_Gateway). They are incubating Impact Risk Mitigation and Insurance Companies / Products. On the back end, they invest and connect these companies with partners in the insurance space and other VCs.Today's conversation is a bit high-level but has many great insights.Enjoy the Episode! 🌎* 📺 👀 Prefer to watch: subscribe on YouTube.* 📫 Interested in written summaries and takeaways from the episode? Subscribe to the newsletter.* Want to be part of the community and engage further? Check out the Slack Channel. https://tinyurl.com/mwkn8zk5Thank you for reading CleanTechies. This post is public so feel free to share it.Topics:* 2:29 Intro* 7:05 What Insurtech Gateway is (this is the section that will be swapped with the second recording)* 12:26 How insurance works and what they are doing differently* 19:13 How they identify the right COs* 27:21 How to determine which areas to work on* 32:20 The process of finding founders and taking them through the incubation process* 43:46 FloodFlash* 53:13 Preventing ahead of issues* 54:42 Smoothing out the price issues* 1:01:04 What milestones need to be hit to really go onto Series A* 1:06:49 How insurance factories are partnering with these startups* 1:10:55 Who he wants to meet Links: * Stephen on LinkedIn: https://www.linkedin.com/in/stephenbrittain/* Insurtech Gateway: https://www.insurtechgateway.com/* Check out our Sponsor, NextWave Partners: https://www.next-wavepartners.com/* Follow CleanTechies on LinkedIn: * HMU on Twitter: @silasmahnerOther episodes you might enjoy:* Most Recent Episode: How to not be Another Failed Green Plastics Chemistry Company, Refugee Shelters, & Selling to Producers, not Brands w/ Alex Blum (Applied Bioplastics)* Similar Topic: The Future of Clean Energy, Materials/Mfg, & the Circular Economy with Author, Peter Leyden* Something Totally Different: #29 - Gridware | Improving Grid/Transmission Infrastructure with IoT This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit cleantechies.substack.com/subscribe