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The Naked Insurance team: Sumarie Greybe & Ernest North

Sumarie Greybe

After 6 years of non-life underwriting at Swiss Re, Sumarie spent 15 years as actuarial advisor to most of SA’s large insurers, as head of Quindiem Consulting &then EY’s short-term insurance consulting practices. She was the Statutory Actuary (and on the Advisory committees) of 2 of the largest short-term insurance groups in SA. Pioneered the use of Dynamic Financial Analysis (DFA) in SA’s short-term insurance market, predominantly for the application of reinsurance optimisation and capital management.

Ernest North Co-Founder | Naked Insurance

A qualified short-term insurance actuary, previously head of pricing niche business at Hannover Re Africa, then consulting (mostly on insurance strategy and capital management) to various insurers across Southern and East Africa for 5 years, before leading product development as the Underwriting and Actuarial Director at a local insurance group.Co-founded Naked (development kicking off in October 2016) which launches in April 2018.

Lots of talk about insurtech. What does it mean?

We are excited about using cutting edge technology to rebuild insurance end-to-end, relentlessly pursuing ways to improve customer outcomes.

Because Naked pays all surplus underwriting profit to Causes that customers care about, we look forward to pleasantly surprising users with our authenticity in helping them have the right cover. Without the claims-linked profit incentives of conventional insurers, we have no agendas and no reasons to make it extra hard to claim.

Over time, we expect lower levels of fraud (through our advanced AI, and how people engage with an organisation they know is not purely profit-driven), ultimately reducing premiums.

Watch Sumarie & Ernest’s presentation at COVER’s insurtech conference