Insurance is getting more expensive and more sophisticated, as climate change, extreme weather and rising costs reshape how insurers price risk.

Tower CEO Paul Johnstone explains why the price of risk in New Zealand has materially changed over the past 15 years, and how Tower is using up to a billion data points to price individual properties based on their exposure to hazards like floods, earthquakes, landslides and sea surge.

He also discusses what rising weather-related losses mean for the insurance industry — and why he still believes insurance is a good business to be in. 

Plus, how Tower is using AI to streamline claims and customer service, why its technology has already saved a million minutes of call time, and how the business is balancing lower premiums with growth and profitability.

For more places to follow Shared Lunch—check out http://linktr.ee/sharedlunch

Shared Lunch is brought to you by Sharesies Australia Limited (ABN 94 648 811 830; AFSL 529893) in Australia and Sharesies Limited (NZ) in New Zealand. It is not financial advice. Information provided is general only and current at the time it’s provided, and does not take into account your objectives, financial situation and needs. We do not provide recommendations and you should always read the disclosure documents available from the product issuer before making a financial decision. Our disclosure documents and terms and conditions—including a Target Market Determination and IDPS Guide for Sharesies Australian customers—can be found on our relevant Australian or NZ website. Investing involves risk. You might lose the money you start with. If you require financial advice, you should consider speaking with a qualified financial advisor. Past performance is not a guarantee of future performance. Appearance on Shared Lunch is not an endorsement by Sharesies of the views of the presenters, guests, or the entities they represent. Their views are their own.

Insurance is getting more expensive and more sophisticated, as climate change, extreme weather and rising costs reshape how insurers price risk.
Tower CEO Paul Johnstone explains why the price of risk in New Zealand has materially changed over the past 15 years, and how Tower is using up to a billion data points to price individual properties based on their exposure to hazards like floods, earthquakes, landslides and sea surge.
He also discusses what rising weather-related losses mean for the insurance industry &mdash; and why he still believes insurance is a good business to be in.&nbsp;
Plus, how Tower is using AI to streamline claims and customer service, why its technology has already saved a million minutes of call time, and how the business is balancing lower premiums with growth and profitability.
For more places to follow Shared Lunch&mdash;check out&nbsp;<a href="http://linktr.ee/sharedlunch">http://linktr.ee/sharedlunch</a>
Shared Lunch is brought to you by Sharesies Australia Limited (ABN 94 648 811 830; AFSL 529893) in Australia and Sharesies Limited (NZ) in New Zealand. It is not financial advice. Information provided is general only and current at the time it&rsquo;s provided, and does not take into account your objectives, financial situation and needs. We do not provide recommendations and you should always read the disclosure documents available from the product issuer before making a financial decision. Our disclosure documents and terms and conditions&mdash;including a Target Market Determination and IDPS Guide for Sharesies Australian customers&mdash;can be found on our relevant Australian or NZ website. Investing involves risk. You might lose the money you start with. If you require financial advice, you should consider speaking with a qualified financial advisor. Past performance is not a guarantee of future performance. Appearance on Shared Lunch is not an endorsement by Sharesies of the views of the presenters, guests, or the entities they represent. Their views are their own.

A conversation with experts, CEOs, and you. We talk to company leaders and industry experts every week. Listen or watch over lunch or whenever for what’s happening in the economy, the markets, and the companies you invest in.

Investing involves risk. This channel is brought to you by Sharesies Limited (NZ) in New Zealand. Information provided is general advice only and current at the time and does not take into account your objectives, financial situation and needs. We do not provide recommendations and you should always read the product disclosure documents available from the product issuer before making a financial decision. Our disclosure documents, can be found on our website.

If you require financial advice, you should seek advice from a qualified financial advisor. The views expressed by individuals are their own and Sharesies does not endorse any of the guests or the views they hold.

A conversation with experts, CEOs, and you. We talk to company leaders and industry experts every week. Listen or watch over lunch or whenever for what&rsquo;s happening in the economy, the markets, and the companies you invest in.
Investing involves risk. This channel is brought to you by Sharesies Limited (NZ) in New Zealand. Information provided is general advice only and current at the time and does not take into account your objectives, financial situation and needs. We do not provide recommendations and you should always read the product disclosure documents available from the product issuer before making a financial decision. Our disclosure documents, can be found on our website.
If you require financial advice, you should seek advice from a qualified financial advisor. The views expressed by individuals are their own and Sharesies does not endorse any of the guests or the views they hold.

Shared Lunch

How Tower is pricing a riskier New Zealand

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/0d5c316f-825d-4c5c-93a5-b4b7017edee1/transcript