Industry Leader interview, John Ridd, CEO – eviid
18th June 2019
eviid’s transformative evidential video reporting tool allows claims professionals and individuals to capture, validate, share and access video and other media quickly and easily; enabling claims handlers, policyholders and witnesses to share information in a single, tamper-proof package.
The patented, proven technology turns video and photos captured on smart devices into reliable, verifiable evidence that is suitable for use in court proceedings, claims management and compliance cases.
See the technology in action at the ILC Motor Claims Conference on 19th June.Tweet
How did you get to where you are today?
My background is in taking new technologies into unsuspecting markets, I led the first-ever underwriting of a data centre and worked with the Information Assurance Advisory Council and as part of global consortia of experts in cyber risk and insurance.
I was CEO of NWIX Group, a national provider of IP network services before co-founding eviid in 2011 to bring secure, evidential video to compliance conscious markets.
What’s the biggest challenge facing your sector of the industry?
Complexity – we’re working in an industry where there are a whole heap of barriers to bringing in new technologies.
Insurance is an industry which is particularly susceptible to fraud and has some stringent compliance considerations. This means generic tech that works well in other industries simply won’t work for insurance. There’s some great tech out there but what insurers need is something that understands and works with the nuances of the industry and works around and within that complexity.
We also know that insurance customers can be notoriously fickle, and rightly so, the meteoric rise of price comparison sites means it’s now the norm to review a policy at renewal, so everything counts when it comes to customer experience. New technology is great, but only when it makes the customer’s life easier as well as the business.
3. How are you and your business dealing with this?
At eviid, because our team is made up of both tech experts and insurance fraud specialists, we really understand the industry we’re working in and we’ve been able to develop technology that will seamlessly integrate into existing claims processes.
It means that we’ve been able to develop a technology that works meets the complex criteria the insurance industry requires, and our clients can access the benefits of video in speeding up resolutions without impacting on compliance, security or customer experience.
4. Out of your achievements, what are you most proud of and why?
Developing a completely unique technology that solves and pre-empts some of the industry’s biggest headaches. We’ve developed world-class tech and we also know how to deploy it in insurance. The latter takes it beyond us knowing that our tech is great to seeing it do its magic in the real world. It’s making a difference to businesses!
5. What advice would you give to anyone starting out in your field?
If you’re working with a new technology in insurance, my advice would be to always get your ducks in a row before rolling it out. The most successful people and organisations will be constantly horizon-scanning, arranging those ducks in readiness for the next tech breakthrough (for example, if you want to use analytics or AI in future, get your house in order in terms of collecting and storing data first!).
6. If you could change anything what would you do to make the insurance industry "Better tomorrow"?
I’d say make use of tech that works within insurance workflows and recognise that’s not always an off the shelf ‘fashionable’ tech. This is a unique industry with factors that aren’t always as prevalent elsewhere and if tech makes things more complicated it’s simply won’t be used. If we want to transform it for the better, we must find the right tech solutions to meet our unique challenges.
7. What's your top tip for being productive?
Use the tech you’ve got wisely and often. If doing something differently saves you time, then do it that way often, so it becomes second nature to you rather than disrupting your flow.
8. What gadget can't you live without?
It’s got to be my smartphone. Sorry, I know it’s the boring answer!
9. Talent or Perseverance?
Perseverance. It teaches you lessons, throws your strengths and weaknesses into sharp relief, gives you a hard edge. That in itself creates talent.
10. What do you do to switch off or escape from work?
I go to the gym to focus on my physical fitness – and track how I’m doing with my smart watch, the other gadget I can’t live without.Tweet
Complexity - we’re working in an industry where there are a whole heap of barriers to bringing in new technologies.