120: Innovation in Insurance and Insurtech

In this episode of Silicon Valley Insider, Keith Koo’s special guest is Paul Chen, Partner at Mayer Brown in their Silicon Valley and San Francisco Corporate & Securities Practice. 

Paul is an internationally recognized legal expert in complex transactions in the insurance, financial services, and health care sectors, especially in deals involving technology and innovation. His experience spans cross-border mergers and acquisitions, strategic investments, and joint ventures. Paul advises early-stage companies and strategic corporates and is a frequent speaker on insurance innovation. He also advises clients on US securities law matters, including tender offers, going-private transactions, and capital raising activities. Paul has significant US and Asia transactional experience and regularly represents Asia-based and other international investors on acquisitions and investments in the US and other parts of the world.


Early in the show, Keith and Paul discuss how the “new normal” has caused the insurance industry to embrace digitization faster to serve the needs of their customers and their back offices. Paul has recently co-authored an article for Mayer Brown regarding the same topic which can be found here:


Paul and Keith go into detail with several examples of technology and innovation being adopted in the insurance industry including how the insurance industry is looking at drone technology to survey accident scenes and take witness statements. Paul explains the importance of how companies address data protection and privacy as they move quickly to adopt new processes and technologies.


On this week’s Cyber-Tip, Keith drills down on the root cause of the massive Twitter attack which was a result of social engineering. Keith talks about what social engineering is and what steps companies can take to minimize their exposure.


On the Pivot, Paul Chen is back to discuss what the future of the insurance industry looks like powered by insurtech.


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