FS Brew- Insurtech and insurance in the Middle East

Renjit Philip and Vidya Veerapandian
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Welcome to FS Brew! FS Brew is the region’s first podcast focussing on insurance and insurtech in the UAE and the broader Middle East. We are based in the startup magnet, a city of dreamers and visionaries- Dubai! In every episode, the hosts, Vidya Veerapandian and Renjit Philip, have in-depth conversations with industry experts on insurtech, insurance, venture capital, digital transformation, actuarial science, and many other topics. Renjit Philip: www.linkedin.com/in/renjit-philip⁠ www.onemorethinginai.com Vidya Veerapandian: www.linkedin.com/in/vidya-veerapandian/⁠

  1. Sep 26

    Inside Markel's Decade in the Middle East — Max Robbie on Risk, Regulation and the Road to 2030

    FS Brew is the region's first podcast dedicated to insurance and insurtech across the UAE and the broader Middle East.In this episode, hosts Renjit Philip, Managing Partner at Futureu Strategy Group, and Vidya, Founder of FWD, sit down with Max Robbie, CEO of Markel International Dubai, to mark ten years of Markel's presence in the region and unpack where specialty insurance is headed next.Topics covered:Markel's ten years in the Middle East and how the market has evolvedDIFC's premium growth to 4.2 billion dollars in 2025, and how much reflects genuinely new risk versus relocated businessSaudi Arabia's RHQ mandates and local retention rules, and their effect on Dubai-brokered businessLessons from the April 2024 UAE and Oman floods and whether underwriting terms have structurally changedMarine and political risk across the Red Sea and Strait of Hormuz, and how Ports & Terminals and War & Terrorism are assessed togetherCyber insurance demand across MENA and whether it is broadening beyond financial institutions and data centresUnderwriting exposure at GCC data centre megaprojects, spanning construction, cyber and business interruption riskWhether current conflict-driven demand is a genuine tailwind for specialty insurers or an understated riskMarkel's Q2 combined ratio and the effect of Middle East conflict events on loss ratiosWhat makes a risk unacceptable, even with a strong broker relationshipEarly-stage collaboration between underwriters, brokers and engineering teams on MENA energy transition megaprojectsCompetition from Liberty, Zurich, Chubb and AIG in energy and construction, and what sets Markel apartMarkel's outlook for the GCC by 2030The episode closes with rapid fire questions on career lessons, leadership style and the innovations shaping the future of insurance in the region.00:00 – Introduction & Welcome01:10 – Max Robbie's Journey: Moving from London to Dubai04:11 – DIFC’s Premium Surge: New Risk vs. Market Relocation05:35 – Expanding Beyond Monoline: Cyber, Trade Credit & Growth06:15 – NatCAT & Flood Exposures: Rethinking Regional Risk & BI09:54 – Marine War Risk, Geopolitics & Supply Chain Disruption13:06 – How Markel Integrates AI & Data in Underwriting16:28 – The Data Center Boom: Multi-Line Risks & Sovereign AI18:19 – Energy Transition & Mega Projects in MENA20:10 – Financial Discipline: Balancing Growth, Reserves & Pricing23:34 – Specialty Capacity Influx: Acumen vs. Price Wars24:55 – Vision 2030: Why Talent is the Key Differentiator26:40 – Rapid Fire Round: Lessons, Leadership & Personal RisksSubscribe to FS Brew for more conversations with CEOs and experts shaping insurance and insurtech in the Middle East.Renjit Philip:work: https://www.futureu.coNewsletter: ⁠⁠⁠https://www.onemorethinginai.com⁠⁠⁠Socials:Twitter / X: @renjitphilipLinkedIn: ⁠⁠⁠https://www.linkedin.com/in/renjit-philip⁠⁠⁠Vidya Veerapandian:⁠⁠⁠https://www.linkedin.com/in/vidya-veerapandian/⁠ #FSBrew #Insurtech #Insurance #Markel #DIFC #Dubai #MENA #Reinsurance #CyberInsurance #RiskManagement

    Inside Markel's Decade in the Middle East — Max Robbie on Risk, Regulation and the Road to 2030

  2. Aug 15

    From AI Regulations to Insurtech Investments: Latest Industry Buzz

    FS Brews News + Analysis (H1 2026): Airline-Embedded Travel Insurance, MAS AI Governance, Insurtech Funding Rebound, Data Center Risk & Cover Genius M&AIn this episode of FS Brews News with Analysis, the hosts cover key insurance and Insurtech developments across regions: UAE airlines Etihad and Emirates are embedding travel insurance to encourage travel, with Etihad auto-enrolling up to 15 days of medical cover in the UAE and Emirates offering worldwide and evacuation cover plus war-related disruption support and extensions. They discuss new AI and agentic AI risk management guidelines from Singapore’s MAS—emphasizing board oversight, lifecycle controls, and human-in-the-loop authorization—alongside emerging UAE central bank guidance, and debate the burden on smaller firms. They highlight a strong H1 2026 rebound in global Insurtech funding ($1.6B in Q1 and $2.4B in Q2) and Europe’s nearly €900M raised with fewer but larger deals, plus regional raises from SOTA Insure, Decisive, Yasmina, and Bahrain’s Sur Insurance. They also note Zurich’s $1B quota-share reinsurance capacity for a growing global data center portfolio and Cover Genius’ acquisition of Berlin-based Friendsurance to accelerate regulated market entry. 00:00 News with Analysis- AUG 13th 00:33 Travel Insurance02:18 AI Regulation 05:11 Insurtech Funding 09:47 Data Center Insurance 11:52 Cover Genius Acquires Friendsurance Spotify show link: https://open.spotify.com/show/6GpKULINjPT895Gmx6wifV?si=f56d59375cf246a4 Renjit Philip: work: https://www.futureu.co Newsletter: ⁠⁠⁠https://www.onemorethinginai.com⁠⁠⁠ Socials: Twitter / X: @renjitphilip LinkedIn:  ⁠⁠⁠https://www.linkedin.com/in/renjit-philip⁠⁠⁠ Vidya Veerapandian :⁠⁠⁠https://www.linkedin.com/in/vidya-veerapandian/⁠

  3. Jun 16

    Corgi raises back to back funding and becomes a $2.6 Billion company

    Marsh Launches Coverpro.ae for UAE SMEs + Global Insurtech Funding Surges on AIIn this episode of FS Brew: News with Analysis, the hosts discuss Marsh UAE’s launch of CoverPro.ae, a new retail website aimed at small and medium enterprises, marking a shift toward digital-first distribution and raising questions about how Marsh will market to SMEs. They then review the Global Insurtech Funding Report (Be Insure), noting insurtech funding rose 19.5% year-on-year to $5.1B, driven largely by AI-focused startups, with an average deal size of $26M and AI liability/cyber deals highlighted. Examples include Paci’s $46M Series B and Corgi’s rapid back-to-back raises and valuation jump, plus a discussion on whether the Middle East could support an AI-native full-stack insurer. The episode also covers GCC insurance growth projections to 2030 and local product launches: Orient Insurance and Allianz Partners’ Sphera global health plan for expats, and Orient’s new war-risk solutions including political violence coverage.00:00 Welcome and Agenda00:11 Marsh UAE SME Portal01:33 How Marsh Will Market01:53 Insurtech Funding Rebounds03:07 Paci and Corgi Mega Rounds04:45 Corgi Growth and Culture05:58 Can GCC Build AI Insurers08:59 GCC Market Growth Outlook10:04 Orient Sphera Health Plan10:41 War Risk Add On Covers12:37 Wrap Up and Subscribe Renjit Philip: Consulting: https://linktr.ee/futureustrategygroup/ Newsletter: ⁠⁠⁠https://www.onemorethinginai.com⁠⁠⁠ Work: https://www.futureu.co⁠⁠⁠ https://www.linkedin.com/in/renjit-philip ⁠⁠⁠Vidya Veerapandian:⁠⁠⁠ https://www.linkedin.com/in/vidya-veerapandian/⁠ I’ve got a favour to ask! If you enjoy this conversation, please double check that you’ve liked the video and subscribed to the channel! That's a small way you can help us carry on doing this, really appreciate you!

    Corgi raises back to back funding and becomes a $2.6 Billion company

  4. Apr 17

    Breaking Barriers in Insurance: Julien Condamines' Vision for Claims with Novo AI

    How Novo AI Uses AI to Cut Claims Leakage: Julien Condamines on Fraud, Waste & Abuse | FS BrewRenjit and co-host Vidya welcome Julien Condamines, co-founder of Novo AI, to the FS Brew Insurtech podcast to discuss why he chose claims as the starting point for innovation and how Novo AI now focuses on reducing fraud, waste, and abuse. Julien describes insurers facing rising medical inflation, legacy claims operations that fail to capture usable data, and regulatory premium caps that worsen loss ratios, making leakage control critical to sustainability. He outlines what an ideal claims team looks like with automated data extraction and medical coding, minimal manual intervention for clean claims, and faster clinical review of flagged cases to prevent unnecessary or abusive billing. The conversation also covers the difficulty of selling to insurers, typical enterprise sales cycles and pricing tied to claim volumes, ROI from leakage reduction, and Novo AI’s expansion beyond Singapore into regional and global markets.00:00 Welcome Julian00:10 Why Claims Matter01:38 Meteorite Risks Ahead03:30 Ideal Claims Team06:42 Why Claims Lag Behind08:51 Selling Into Insurers12:07 Deal Cycles And Pricing13:32 Leakage Drives ROI14:47 Trust Speed Explainability16:45 Claims Frustration Reality16:57 Protection Beyond Payouts17:05 Thailand Injury Scenario17:32 Insurer As Trusted Guide18:59 Novo AI Claims Automation19:57 Stopping Fraud And Leakage21:30 Advice For Gulf Insurers23:45 Scaling Beyond Singapore25:28 Rapid Fire Leadership27:52 AI Trend And Big Risks29:16 Kindness And Pay It Forward31:00 Final Thanks And ShoutoutRenjit Philip:Consulting: https://linktr.ee/futureustrategygroup/Newsletter: ⁠⁠⁠https://www.onemorethinginai.com⁠⁠⁠Work: https://www.futureu.coSocials:Twitter / X: @renjitphilipLinkedIn: ⁠⁠⁠https://www.linkedin.com/in/renjit-philip⁠⁠⁠Vidya Veerapandian:⁠⁠⁠https://www.linkedin.com/in/vidya-veerapandian/⁠I’ve got a favour to ask! If you enjoy this conversation, please double check that you’ve liked the video and subscribed to the channel! That's a small way you can help us carry on doing this, really appreciate you!

  5. Apr 6

    AI in Insurance and how Emirates Airlines' insurance works in Conflict Zone Operations

    AI in Commercial Insurance, Fully Autonomous Carriers, and Emirates’ War Risk Coverage | FS Drew’s News + AnalysisIn this episode of FS Brew's News with analysis, Renjit and Vidya discuss three insurance developments shaped by AI and geopolitical risk: insurtech Shepherd’s $42M Series B and its AI-driven commercial insurance platform that pulls real-time data from tools like Procore and Autodesk to speed underwriting for AI economy infrastructure; US firm di Primus Holdings’ launch of “Lucy,” a fully autonomous insurance carrier designed to handle underwriting, claims, and agent interactions with minimal human intervention; and a Financial Times report on Emirates Airlines’ war risk insurance, including its relatively low additional weekly war premium, a WTW-negotiated policy covering the first $2B of losses, and how scale, operational reputation, and conflict-specific policy terms help airlines keep flying during war.00:00 Welcome and Setup00:17 Breaking Alert Moment00:33 Shepherd Insurtech Funding03:09 AI Underwriting Debate04:51 Lucy Autonomous Insurer06:08 Can Insurance Be Fully AI08:47 Emirates War Risk Cover12:01 Why Emirates Gets Better Rates13:30 Wrap Up and Call to ActionRenjit Philip:Consulting: https://linktr.ee/futureustrategygroup/Newsletter: ⁠⁠⁠https://www.onemorethinginai.com⁠⁠⁠Work: https://www.futureu.coSocials:Twitter / X: @renjitphilipLinkedIn: ⁠⁠⁠https://www.linkedin.com/in/renjit-philip⁠⁠⁠Vidya Veerapandian:⁠⁠⁠https://www.linkedin.com/in/vidya-veerapandian/⁠I’ve got a favour to ask! If you enjoy this conversation, please double check that you’ve liked the video and subscribed to the channel! That's a small way you can help us carry on doing this, really appreciate you!

  6. Mar 19

    FS Brew: Navigating the Iran-Israel-US Conflict's Ripple Effects on Insurance

    War Risk Cover Pulled in Strait of Hormuz, Hippo Turns Profitable, Aon Tests Stablecoin Premiums | FS Brew NewsVidya and Renjit discuss insurance developments amid the Iran–Israel–US conflict, noting major insurers have withdrawn war risk cover for ships in the Strait of Hormuz and Persian Gulf, pushing premiums from about 0.2–0.25% of vessel value to 1% or more and threatening fuel prices and supply chains as a major share of global oil transits the strait. They cover Hippo Insurance’s first full-year net profit ($58m) on $1.1bn gross written premium (up 24%) with 2026 guidance of $1.4–$1.5bn, and Aon’s proof of concept for paying premiums with stablecoins (USDC on Ethereum and PYUSD on Solana) to compress settlement times to minutes. They also cite S&P maintaining GCC insurers’ credit conditions as stable due to strong capital buffers, discuss war clause wording and possible cyber impacts, and highlight India’s newly licensed digital-first Kiwi Insurance backed by WestBridge and ex–Tata AIG leaders targeting motor, health, property, SME and commercial lines.00:00 Conflict Sets the Stage00:52 Hippo Turns Profitable02:35 Aon Tests Stablecoins03:57 War Risk Cover Pulled05:48 S&P Sees GCC Stability06:41 Cyber and War Exclusions08:25 India’s Kiwi Insurance10:54 Wrap Up and SubscribeRenjit Philip:Consulting: https://linktr.ee/futureustrategygroup/Newsletter: ⁠⁠⁠https://www.onemorethinginai.com⁠⁠⁠Work: https://www.futureu.coSocials:Twitter / X: @renjitphilipLinkedIn: ⁠⁠⁠https://www.linkedin.com/in/renjit-philip⁠⁠⁠Vidya Veerapandian:⁠⁠⁠https://www.linkedin.com/in/vidya-veerapandian/⁠I’ve got a favour to ask! If you enjoy this conversation, please double check that you’ve liked the video and subscribed to the channel! That's a small way you can help us carry on doing this, really appreciate you!

  7. Feb 15

    GCC & Global Insurtech News with Analysis from FS Brew: Where Innovation Meets Action

    FS Brew January Roundup: AI InsurTech Boom & GCC Regulatory ChangesWelcome to FS Brew, the region's premier podcast for insurance enthusiasts! In this January news and analysis episode, hosts Vidya, founder of Forward, and Renjit, partner at Futureu Strategy Group, tackle the latest developments in the insurance industry. Discover how AI-native carrier Corgi secured a $108 million funding round to revolutionize insurance for startups. Dive into the impact of new GCC regulations on brokers and MGAs. Learn about Advanced Technology Assurance Limited's $50 million facility targeting AI-related risks. Finally, explore how Saudi telecom giant Zain is making waves with its embedded insurance venture. Don’t forget to support us by subscribing to our YouTube channel and following us on Spotify and Apple Podcasts. Engage with us and stay ahead in the world of insurance!00:00 Welcome to FS Brew00:29 AI Native Insurance Carrier Corgi's $108M Funding01:59 Impact of AI on Traditional Insurers02:10 Middle East InsureTech Developments03:29 GCC Licensing Framework Updates05:48 Advanced Technology Assurance's $50M Facility08:47 Saudi Market Innovations11:45 Challenges of Embedded Insurance13:01 Closing Remarks and Call to ActionRenjit Philip:Consulting: https://linktr.ee/futureustrategygroup/Newsletter: ⁠⁠⁠https://www.onemorethinginai.com⁠⁠⁠Work: https://www.futureu.coSocials:Twitter / X: @renjitphilipLinkedIn: ⁠⁠⁠https://www.linkedin.com/in/renjit-philip⁠⁠⁠Vidya Veerapandian:⁠⁠⁠https://www.linkedin.com/in/vidya-veerapandian/⁠I’ve got a favour to ask! If you enjoy this conversation, please double check that you’ve liked the video and subscribed to the channel! That's a small way you can help us carry on doing this, really appreciate you!

  8. Jan 26

    Exclusive: CEO Neeraj Gupta Talks AI, Regulations, and the Future of Insurance

    Welcome to FS Brew, the UAE and Middle East's first podcast dedicated to all things insurance and InsureTech. In this episode, hosts Renjit and Vidya are joined by Neeraj Gupta, CEO of Policy Bazaar UAE, for an insightful discussion on the latest innovations and challenges in the insurance landscape. Neeraj highlights Policy Bazaar's customer-centric initiatives, including the NRI Healthcare plan and the PB Advantage program. The conversation covers regulatory updates, the role of AI in the industry, and the potential of personalized insurance. They also explore the implications of the upcoming unified GCC travel visa. Tune in for a comprehensive look at the evolving world of insurance and InsurTech with a leading industry expert. 00:00 Introduction to FS Brew and Hosts00:28 Guest Introduction: Neeraj Gupta, CEO of Policy Bazaar UAE00:54 Policy Bazaar's Customer-Centric Innovations04:56 AI Tools and Their Impact on Policy Bazaar07:56 Regulatory Changes and Their Impacts 17:10 Unified GCC Travel Visa: Opportunities and Implications18:14 Challenges and Innovations in Health Insurance21:55 Partnerships and Future Predictions25:27 Rapid Fire Questions34:43 Conclusion and Final Thoughts Renjit Philip:Consulting: https://linktr.ee/futureustrategygroup/Newsletter: ⁠⁠⁠https://www.onemorethinginai.com⁠⁠⁠Work: https://www.futureu.coSocials:Twitter / X: @renjitphilipLinkedIn: ⁠⁠⁠https://www.linkedin.com/in/renjit-philip ⁠⁠⁠Vidya Veerapandian:⁠⁠⁠https://www.linkedin.com/in/vidya-veerapandian/ ⁠I’ve got a favour to ask! If you enjoy this conversation, please double check that you’ve liked the video and subscribed to the channel! That's a small way you can help us carry on doing this, really appreciate you!

    Exclusive: CEO Neeraj Gupta Talks AI, Regulations, and the Future of Insurance
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Welcome to FS Brew! FS Brew is the region’s first podcast focussing on insurance and insurtech in the UAE and the broader Middle East. We are based in the startup magnet, a city of dreamers and visionaries- Dubai! In every episode, the hosts, Vidya Veerapandian and Renjit Philip, have in-depth conversations with industry experts on insurtech, insurance, venture capital, digital transformation, actuarial science, and many other topics. Renjit Philip: www.linkedin.com/in/renjit-philip⁠ www.onemorethinginai.com Vidya Veerapandian: www.linkedin.com/in/vidya-veerapandian/⁠

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