We are sharing a very exciting episode on The Leadership In Insurance Podcast today. We talk about innovation a lot on this podcast, often to start up and scale up insurtechs, but Kennedys brings a new perspective to insurtech innovation.
In this episode I am joined by Richard West who wears many hats; Partner at Kennedys, a leading global insurance legal service provider. Richard is the Global Head of Liability Defence and most importantly for this conversation, Head of Client Innovation.
Our conversation covers all things innovation in law - Why innovate in law? What does that look like, both internally and externally? And what role does Kennedys play within the insurance innovation ecosystem?
π We look at the need for differentiation and client innovation - the launch of Kennedys IQ in 2022, identifying emerging risks and the importance of providing insights and more certainty for the insurance industry
π We discuss Richard idea of helping clients use lawyers less - Lawyers are a distress purchase, used at moments of crisis - how can we evolve this?
π We talk about the resistance to the idea to become less dependent on lawyers - Are you innovating yourself out of revenue? Will innovation engineer human lawyers out of the process?
π We delve into AI - to what extent is it an opportunity or a threat? Will this force the legal profession to evolve again?
π We examine the link between lawyers and trust, and how this will evolve with AI - people still want humans - but will start to see less reliance on humans for advice? When will society tolerate a robot performing surgery?
π Finally we look at whatβs on the horizon for Richard and his team; scaling the IQ offering, smart projects launch and more! Watch this space!
Hope you all enjoy this one - this was a particularly insightful one - thank you Richard for joining me