Fintech and new technology companies have changed the game — they tapped into customer needs and kept expanding. Today, there are also new opportunities for insurers to become a part of consumers' day-to-day lives.Beth Costa, Oliver Wyman Partner
In this podcast episode, Beth Costa shares perspectives on the dynamic side of Payments, and the latest pandemic impacts to commerce, Insurance, small businesses and Millennials.
Beth is a Financial Services industry veteran with more than 30 years' experience. As a Partner in Oliver Wyman's Payments and Retail Banking practices, Beth brings a unique blend of perspectives to her clients, having worked both in industry and also as a consultant.
During our conversation, Beth dives into current growth and consumer opportunities, and what companies need to survive and thrive in this new age of commerce. We discuss how fintechs and new technology companies are changing the game and reinventing customer experiences with super apps.
Reinventing Insurance Podcast Series
Our Reinventing Insurance podcast explores best practices for taking a CustomerFirst approach to innovation within Insurance. Throughout this series, host Paul Ricard discusses lessons, challenges, and new ways of working with guests who will share their first-hand experiences.
Beth Costa is a partner in Oliver Wyman’s Payments and Retail Banking practices in the Americas. Beth brings a unique blend of experiences and perspectives to her clients, having worked both in industry and also as a consultant. She specializes in payment products, with an emphasis on payment networks and solutions. Beth’s more than 30 years of industry experience includes leadership roles at banks and payment processors, as well as C-level responsibilities with Merchant Customer Exchange (MCX). Her diverse background ensures that she provides a 360-degree view of payments from consumer, merchant, network/processor, bank (and MNO) perspectives—across any form of payment or channel. Beth is also a frequent author and contributor for Oliver Wyman insights, including Merchant Payments Digest and the Payments Plus newsletter. Beth's latest article, "How Gen Z Shops and Pays," can be found here.
Our podcast host
Paul Ricard is a Partner in Oliver Wyman’s Insurance practice and a member of the CustomerFirst platform, which focuses on designing and building digital solutions, starting with customer needs and challenges. Paul has worked with large financial-services institutions across the Americas and Asia-Pacific regions. He is also actively connected with the Insurtech and Fintech communities, and has facilitated strong ties between Insurtechs and incumbents. His areas of expertise include designing and building greenfield digital solutions and implementing large-scale digital transformations.
Podcast Episode 5: Demystifying Design Thinking
In this episode, Jason Rome shares the best ways insurance leaders can adopt Design Thinking into their transformation efforts — and reinvent their businesses. Jason is the SVP of Digital Strategy and Customer Experience at Method, a GlobalLogic company. At Method, Jason partners with global brands in diverse industries to create digital products and experiences that improve lives and transform businesses. During our conversation, Jason dives into customer experience, the new normal, new ways working, and shares his experiences and learnings while working with financial services and insurance companies.
Most recently, Oliver Wyman and GlobalLogic have been collaborating together. As part of Oliver Wyman’s CustomerFirst initiative, we are incubating new growth ventures for our clients. We bring the best of design and delivery capabilities together through an ecosystem that includes GlobalLogic, a world-class product innovation firm with global scale and reach.
Podcast Episode 4: An insurtech story told from both sides
In this episode, we connect with Drew Ostro, CEO and co-founder of PolicyMe. PolicyMe is a rising player in the Insurtech space, coming off a record year—with a 700 percent growth rate and introducing a completely digital way for Canadians to purchase life insurance. As an Oliver Wyman alum, Drew shares the full spectrum of his experiences, from advising senior leaders at the world’s largest insurance companies to the challenges of launching a new startup. We draw parallels from both sides of the incumbent and insurtech equation. Join us as we explore partnerships, accelerating industry trends, lessons learned, burnt pizza, and recommendations to help insurers build solid customer-centric experiences in the digital space.