Blog Post: Summer Internship – Reflections on the Role of an Insurtech

Greg Binnie recently undertook a summer internship with Broker Insights, between his 3^rd and 4^th year at Heriot-Watt University where he is studying International Business.

Following his placement, Greg has provided an overview of his experience, what he has learnt about the world of commercial insurance, and the lessons he will take back into his final year and future career:

Before starting my summer internship at Broker Insights, my knowledge concerning the world of commercial insurance was so limited that I didn’t even know what a broker was or did. My only encounter with insurance generally came through the use of comparison websites when looking to insure my car.

Through conversations with differing people at Broker Insights, I quickly started to understand the  requirements for commercial insurance and the roles that brokers and insurers each played in the commercial insurance process. Soon after, I received my product demo and began to really grasp what the Broker Insights platform was and how it fitted into this process.

By enabling data interchange between brokers and insurers that would not otherwise be possible, Broker Insights closes the gap between the two parties. Based on consumer risk profiles and insurer appetites, brokers and insurers are connected through Broker Insights, allowing them to identify opportunities, communicate and engage on a single platform. This saves both parties a lot of time, allowing them to focus on other day to day tasks and growing their book of business.

My summer internship has shown me that the commercial insurance sector has an opportunity to improve workflows, and how much easier it can be made for everyone involved simply through the use of insurtech solutions like Broker Insights.

It has also made apparent the importance of clear communication and teamwork in making a workplace function effectively. Throughout my internship I have been encouraged to not be afraid about asking questions as everyone is here to support one another. This is a sentiment echoed throughout Broker Insights, and I found that it was indeed true as people genuinely tried to help me wherever they could. I aim to carry this sentiment with me as I leave Broker Insights into my final year of University and my future career.