Fermion reimagines insurtech for today’s customers

The global insurtech market is driven by the rapid digitisation and growing adoption of advanced technologies, such as machine learning, the Internet of Things and cloud computing, amongst others. These technologies generate large volumes of data that help insurance companies to track and analyse consumer behavior and remodel the insurance industry model to cater to personalised experiences, along their journey.

Analysts have valued the global insurtech market at USD3.85 billion in 2021 and this is expected to expand at a compound annual growth rate (CAGR) of 51.7 percent from 2022 to 2030.

To share insights on this growing insurtech market, how the industry is keeping pace with rapid innovation as well as the challenges within this space, we speak to Peter Miller, the CEO of Fermion Group.

A member of the Silverlake Axis family, Fermion is a Singapore-headquartered entity which builds insurance ecosystems to meet the needs of banking, financial services and insurance sectors. The company’s solutions include software-as-a-service end-to-end collaborative exchange platform extending from sales to claims, generating analytics with artificial intelligence for every property and casualty (P&C) product, as well as digital customer engagement technology solutions covering life, health and long-term savings. Presently, the Fermion Group works with over 150 insurers in three primary ecosystems – health and wellness, P&C and long-term savings and protection.

Listen to the insightful conversation with Peter where he speaks about:

• The reason behind the Fermion’s reorganisation.
• Fermion’s focus on its three ecosystems and the rationale behind it.
• How Fermion Group enables its clients to innovate.
• How the insurtech space has grown over the years in Singapore and across ASEAN.
• Exciting innovation in the insurtech space and what’s in store for customers.
• The biggest challenges that hinder innovation in the insurtech space.
• Key lessons learnt from being a CEO and Fermion’s vision, moving forward.

Guest: Peter Miller, CEO of Fermion Group
Host: Brian Fernandez
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