In the Hot Seat with Mike Wise

Summary:In this episode of Insurance Unplugged, host Lisa Wardlaw welcomes Mike Wise, founder of Rainmaker and IoT Sandbox. They discuss Mike's extensive background in technology and insurance, his journey into blockchain and IoT, and the importance of decentralized foundations in the insurance industry. The conversation delves into the concept of post-quantum resilience, exploring how blockchain, AI, and quantum computing are converging to create a secure future for technology. They emphasize the need for innovative solutions in the face of evolving cybersecurity threats and the role of AI in enhancing data security and integrity. In this conversation, Lisa Wardlaw and Mike Wise explore the transformative impact of quantum technology, AI, and blockchain on the insurance industry. They discuss the challenges posed by legacy systems, the innovative potential of parametric insurance, and the importance of adapting to a rapidly changing technological landscape. The dialogue emphasizes the need for continuous learning and curiosity in navigating these shifts, as well as the critical role of insurance in society's functioning.Takeaways:Mike Wise has a rich background in technology and insurance.Blockchain can facilitate secure operational AI.Decentralized foundations may be more appealing than the term blockchain.Post-quantum resilience is crucial for future cybersecurity.Quantum computing will revolutionize current computing standards.Blockchain technology is evolving to become quantum resistant.AI is becoming more accessible and integrated into everyday use.Data architecture is essential for secure AI applications.The convergence of AI and blockchain is a significant trend.MIT is a hub for innovative thinking and technology development. Quantum technology is essential for future decision-making.Legacy systems in insurance create significant challenges.AI can accelerate coding and development processes.Parametric insurance offers innovative solutions to traditional claims.The herd mentality in insurance can lead to failure.Continuous learning is crucial in adapting to new technologies.The insurance industry must embrace change to remain relevant.IoT devices will significantly impact the insurance landscape.Education on new technologies is vital for executives.Collaboration and open-mindedness are key to innovation.Sound Bites:"The best use of blockchain is for AI.""I'm getting there first.""Blockchain is a hammer looking for a nail.""It's just architecture. Data architecture.""We have more comfort level with AI.""You should store them. You should secure them.""You can't blockchain enable a Web2 process.""AI can now do your coding a lot faster.""The herd mentality will get you fired."Keywords:Insurance, Blockchain, IoT, AI, Quantum Computing, Cybersecurity, Decentralization, InsureTech, Technology, Innovation, quantum technology, insurance, parametric insurance, AI, blockchain, IoT, legacy systems, risk management, technology trends, insurance industry