IBOTT which were located in various people ’ s homes , were insured well enough to generate trust in the product ."
Central to the challenge lay the concept of ownership , says Moore , which the insurance industry , in general , is rooted in . It was the disruptive ability of Apollo in acknowledging the changing marketplace and the potential of the Sharing Economy that led to its product innovations .
Moore says , " The insurance industry is fascinated by ownership . You own a car , you insure your car . You own your house , you insure your house . New millennials , however don ' t care about ownership . For them the future is utilisation , rendering it challenging from an insurance perspective ."
By listening to the requirements of the marketplace and recognizing changing needs , Apollo embraced partnership with Airbnb and created a tailored , fit for purpose , scalable product – and word spread . “ When you create something for someone like Airbnb , your phone starts ringing ; " Hey , we ' re a rideshare company . Can you create something for us in the rideshare space ?" or , " Can you create something in this car sharing space , on demand delivery , drones , e-scooters , autonomous vehicles ?" because that ' s the direction society is moving towards ."
CHRIS MOORE
TITLE : HEAD OF IBOTT INDUSTRY : INSURANCE LOCATION : LONDON , UK
Chris has been with Apollo since
2013 and was instrumental in the setup of ibott , the first dedicated division at Lloyd ’ s catering for the digital economy and new mobility .
Chris has a passion for insurance innovation and believes in insurance products being an enabler for new progressive business models . He was one of the pioneers in creating products for the Sharing Economy , working with companies such as Airbnb in early 2014 to create global , first of their kind solutions . Chris has a degree in Mathematics and is FCII and CRIS qualified . He sits on the Lloyd ’ s innovation panel and the Lloyd ’ s Market Association Committee for US and International Casualty .
New market opportunities It was , Moore recalls , Apollo ' s client-first culture that led to the birth of ibott . “ We moved away from a buyer-supplier model and embraced one of long-term strategic partnerships . We quickly gained a reputation for listening to clients , collaborating and co-creating new products , and innovating as much as we could ."
Taking advantage of new opportunities as they come along has been something of a habit for Apollo . “ It just became very
EXECUTIVE BIO