In the Hot Seat with Scott Dykstra

Summary: In this episode of Insurance Unplugged, host Lisa Wardlaw interviews Scott Dykstra, co-founder and CTO of Space and Time, discussing the future of database design and its implications for the insurance industry. They explore the concept of HTAP (Hybrid Transactional Analytical Processing), the importance of cryptography in ensuring data integrity, and the need for consumer trust in data handling. The conversation also delves into self-custody of data, dynamic data exchange, and the potential for transformative changes in how insurance companies operate and share data. Takeaways: Space and Time is a tamper-proof database using cryptographic technology. HTAP allows for real-time analytics and transactions in one system. Tamper-proof databases can prevent data manipulation by operators. Consumer trust is essential in the insurance industry. Self-custody of data empowers consumers to control their information. Dynamic data exchange can enhance collaboration in the insurance value chain. Insurance companies need to adopt modern database technologies. Data privacy and encryption are critical for protecting consumer information. The insurance industry must evolve to meet consumer demands for transparency. New technologies can revolutionize how insurance operates. Sound Bites: "We are in a treat today listeners." "Space and Time is the first tamper-proof database." "HTAP is the holy grail of powering the business."