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131: How Insurance Becomes an Innovator’s Best Friend

131: How Insurance Becomes an Innovator’s Best Friend

FromInnovation Storytellers


131: How Insurance Becomes an Innovator’s Best Friend

FromInnovation Storytellers

ratings:
Length:
52 minutes
Released:
Nov 28, 2023
Format:
Podcast episode

Description

I'm thrilled to have Mach Millett, the Chief Innovation Officer and Alternative Investment Practice Leader at Lockton Financial Services, join us on The Innovation Storytellers Show. Mach's impressive background spans over a decade at Marsh and a legal career at Skadden Arps, equipping him with a unique perspective on managing risks in innovation. In this episode, we're not just talking about insurance in the traditional sense. We're delving into how to protect the future - the innovations and potential within our organizations. Mach's role at Lockton involves creating new insurance products for unaddressed risk exposures and serving as a technical expert in various complex fields. His experience crafting insurance contracts and resolving disputes gives him a unique vantage point on the intersection of innovation, law, and insurance. Our conversation travels from Central America to the intricacies of the legal profession and deep into the insurance world. We discuss the importance of involving legal, compliance, and PR teams from the onset of an innovation project, forming an 'Innovation Council' to ensure all potential issues are addressed early. Mach shares his experiences with the challenges and triumphs of navigating innovation's legal and compliance landscapes, providing insights into how to foresee and manage the unforeseen. This episode explores the support systems underpinning innovation. We delve into the importance of seeing around corners, anticipating risks, and extending a hand across different silos to foster successful innovation. Mach's journey from a legal expert to an innovation leader at Lockton illustrates the multifaceted nature of protecting and nurturing the next big thing.
Released:
Nov 28, 2023
Format:
Podcast episode

Titles in the series (100)

Did you ever wonder how an innovation got to its finish line? How innovators saw the future, made a product, and created change – in our world and in their companies? I did. Innovation Storytellers invites changemakers to describe how they created their innovation and just as important – THE STORIES – that made us fall in love with them. Come learn how great innovations need great stories to make them move around the world and how to become a better storyteller in the process. I’m Susan Lindner, the Innovation Storyteller. But I wasn’t always. I’ve been a wannabe revolutionary, an epidemiologist at the CDC and an AIDS educator in the brothels of Thailand helping to turn former sex workers into entrepreneurs. Trained as an anthropologist and the Founder of Emerging Media, I’ve spent the last twenty years working with innovators from 60+ countries. Ranging from cutting edge startups to Fortune 100 companies like GE, Corning, Citi, Olayan, and nine foreign governments, helping their leaders to tell their stories and teaching them how to become incredible advocates for their innovations. Great innovation stories make change possible. They let us step into a future we can’t see yet. I started this podcast to shine a light on our generation of great innovators, to learn how they brought their innovation to life and the stories they told to bring them to the world.