Most people think insurance is money you pay every month and never see again.
But with some mutual insurers, there’s a different model. Because there are no external shareholders, surplus generated by the business can ultimately be returned to members in different ways — including payments back to policyholders.
In this episode, Ben sits down with Quintin Augustine, Chief Product Officer at PPS Mutual. They unpack how mutual insurance works, why some insurers can return money to their members, and the difference between an insurer owned by shareholders and one owned for the benefit of its policyholders.
They also discuss how insurers price risk, why choosing the cheapest policy can cost you later, why premiums can rise over time, and how insurance could become more personalised through AI and technology.
Shoutout to Quintin for coming on the podcast.
Hosted by Ben Stewart and proudly brought to you by Venture Wealth.
This podcast was proudly produced by Fanaticals: https://fanaticals.co.nz/