Alexandre Lazarow

The new playbook for innovation and startup success is emerging from beyond Silicon Valley—at the “frontier.”

Startups have changed the world. In the United States, many startups, such as Tesla, Apple, and Amazon, have become household names. The economic value of startups has doubled since 1992 and is projected to double again in the next fifteen years.

For decades, the hot center of this phenomenon has been Silicon Valley. This is changing fast. Thanks to technology, startups… Show more

The new playbook for innovation and startup success is emerging from beyond Silicon Valley—at the “frontier.”

Startups have changed the world. In the United States, many startups, such as Tesla, Apple, and Amazon, have become household names. The economic value of startups has doubled since 1992 and is projected to double again in the next fifteen years.

For decades, the hot center of this phenomenon has been Silicon Valley. This is changing fast. Thanks to technology, startups are now taking root everywhere, from Delhi to Detroit to Nairobi to São Paulo. Yet despite this globalization of startup activity, our knowledge of how to build successful startups is still drawn primarily from Silicon Valley.

This Silicon Valley “gospel” is due for a refresh—and it comes from what he calls the “frontier,” the growing constellation of startup ecosystems, outside of the Valley and other major economic centers, that now stretches across the globe. The frontier is a truly different world where startups often must cope with political or economic instability and lack of infrastructure, and where there might be little or no access to angel investors, venture capitalists, or experienced employee pools.

Under such conditions, entrepreneurs must be creators who build industries rather than disruptors who change them because there are few existing businesses to disrupt. The companies they create must be global from birth because local markets are too small. They focus on resiliency and sustainability rather than unicorn-style growth at any cost.

Out-Innovate was a finalists for the Bracken Bower, a competition co-hosted by McKinsey and The Financial Times, organizers of the Business Book of the Year Award. Out-Innovate was named #1 in the “Summer Books of 2020” with the Financial Times, "Top Book To Inform Your Technology And Innovation Strategy” by Forbes, and was the #1 Release in Venture Capital on Amazon. Show less

This month marked one of the largest fintech acquisitions of all times, Visa’s purchase of Plaid for $5.3 billion. It is a validation of fintech in a literal sense – Plaid is a key enabler to many of the leading fintech players, and critical in simplifying the onboarding flow and integration of players. It may also be a bellwether for the year: 2020 may be the year for fintech.

Four important and interlocking trends will drive this.

Insurtech has become one of the fastest growing segments in fintech. McKinsey & Co. reported that over $10 billion has been invested in insurtech since 2012. Already there are over 2,500 insuretechs around the world, a number that will surely continue to climb.

While there’s no debate over whether insurance is ripe for disruption, there’s still uncertainty over which insurtech distribution model is the most innovative, profitable, and efficient. The core options include: broker, MGA, or… Show more

Insurtech has become one of the fastest growing segments in fintech. McKinsey & Co. reported that over $10 billion has been invested in insurtech since 2012. Already there are over 2,500 insuretechs around the world, a number that will surely continue to climb.

While there’s no debate over whether insurance is ripe for disruption, there’s still uncertainty over which insurtech distribution model is the most innovative, profitable, and efficient. The core options include: broker, MGA, or carrier.

The answer, like most things, is that it depends. Show less

Cross-post to Kauffman Fellows Journal: https://www.kauffmanfellows.org/journal_posts/how-to-set-up-a-global-company-a-legal-perspective-for-entrepreneurs

Amazon’s decision to expand from its single base in Seattle was among the most highly profiled stories. Yet, it misses a more compelling story the headlines largely missed – the growing trend of a distributed workforce model. More #startups are using a distributed workforce model earlier in their lifecycle.

Historically, fintech was local. This is changing rapidly. The fintech game is now global.

MC for Venture Stage

Convergence is happening across the mobility stack. Tech companies are becoming car companies, car companies are becoming mobility service providers, and cities are test beds for it all. Learn about how corporates focusing on mobility are navigating that trend through a mix of direct investing, fund investing, and business development partnerships.

Panel with:
- Xavier Baillard, Startups Incubator Director, Valeo
- Francois Badoual, President, Total New Energies Ventures USA… Show more

Convergence is happening across the mobility stack. Tech companies are becoming car companies, car companies are becoming mobility service providers, and cities are test beds for it all. Learn about how corporates focusing on mobility are navigating that trend through a mix of direct investing, fund investing, and business development partnerships.

Panel with:
- Xavier Baillard, Startups Incubator Director, Valeo
- Francois Badoual, President, Total New Energies Ventures USA, Inc.
- Marianne Wu, President, GE Ventures
- Leon Pedersen, Managing Director & Head of Thematic Investing, CPP Investment Board Show less

Investing Internationally
Moderator: Nazim Zilkha / Partner / DeChert LLP
Farah Khan / Partner / L Catterton
Bryce Fort / Managing Director and Founding Partner / Emerging Capital Partners
Rodrigo Boscolo / Managing Director and CFO / GP Investments
Alexandre Lazarow / Investment Director / Cathay Innovation
David Gross-Loh / Managing Director and Co-Head of Asia / Bain Capital
Dr. Felix Cardenas / Partner and Innovation Director / EFM Capital

A panel of insurance investors and market researchers report that investing in insurtech firms has reached an inflection point as investors and insurers build out early ventures and look to new technologies and risk sectors. Panelists spoke with A.M. BestTV at InsureTech Connect 2018, held in Las Vegas.

People who appear in this video include:

Matt Streisfeld, Principal, Oak HC/FT
Alex Lazarow, Director, Cathay Innovation
Sam Friedman, Deloitte Center for Financial… Show more

A panel of insurance investors and market researchers report that investing in insurtech firms has reached an inflection point as investors and insurers build out early ventures and look to new technologies and risk sectors. Panelists spoke with A.M. BestTV at InsureTech Connect 2018, held in Las Vegas.

People who appear in this video include:

Matt Streisfeld, Principal, Oak HC/FT
Alex Lazarow, Director, Cathay Innovation
Sam Friedman, Deloitte Center for Financial Services, Deloitte Show less

Globally there are 1.7 billion people that lack access to financial services, and many more who are underserved. While the insuretechs narrative is often about decreasing costs, improving customer experience or disrupting existing models, for most of the world, the promise of insurtech is far greater. It has the potential to radically change this paradigm, by changing how customers think of and understand insurance. This is the insurance industry’s opportunity to grow the market, radically… Show more

Globally there are 1.7 billion people that lack access to financial services, and many more who are underserved. While the insuretechs narrative is often about decreasing costs, improving customer experience or disrupting existing models, for most of the world, the promise of insurtech is far greater. It has the potential to radically change this paradigm, by changing how customers think of and understand insurance. This is the insurance industry’s opportunity to grow the market, radically increase the amount of customers served and do good in the process. In this panel, we will hear the voice of innovators at the forefront of this coming change.

Andrea Keenan
Senior Managing Director – Industry Relations
A.M. Best

Daniel Ross
Partner
Yellowwoods Ventures

Christopher Sheehan
CEO
WorldCovr

Wei Zhu
CEO & Founder
Axinan Pte. Ltd.

MODERATED BY:
Alex Lazarow
Director
Cathay Innovation Show less

The larger Insuretech opportunity lies in growing markets, rather than disrupting existing ones. This will happen in three ways: deepening legacy product categories, addressing emerging pain points, and targeting previously underserved customers.

Full magazine available here: https://www.insuranceciooutlook.com/magazines/October2018/InsurTech_Startups/

Middlebury Institute MBA Professor Alexandre Lazarow on his experience with Frontier Market Scouts, the future of impact investment, and his upcoming book, The Frontier Innovator's Playbook.

FinTech innovators have the potential to increase access to, improve the quality of, and reduce the cost of financial services for the underserved at scale. But to scale successfully, they need access to different kinds of capital in their growth trajectory. This session explores the capital and resources needs of inclusive fintechs. Startups at different stages of venture development, funders, and investors speak to the challenges of identifying the right capital at the right… Show more

FinTech innovators have the potential to increase access to, improve the quality of, and reduce the cost of financial services for the underserved at scale. But to scale successfully, they need access to different kinds of capital in their growth trajectory. This session explores the capital and resources needs of inclusive fintechs. Startups at different stages of venture development, funders, and investors speak to the challenges of identifying the right capital at the right time.

Panelists include:
Vikas Raj, MD, Accion Venture Lab
Christopher Sheehan, CEO, WorldCover
Allison Lu, VP of Credit, Tala
Jacob Haar, Managing Partner, Community Investment Management
Alex Lazarow, Partner, Omidyar Network Show less

Panel discussing policy and regulatory approaches to promote digital financial services for enhancing financial inclusion without compromising key mandates of ensuring financial stability, integrity and consumer protection.

Moderated by Professor Njuguna Ndung’u, Former Governor of the Bank of Kenya
Panelists include:
• Mr. Ayman Hussein, Sub Governor, Payment Systems and Information Technology
• Ms. Jessica Chew, Assistant Governor, Bank Negara, Malaysia (BNM)
• Mr. Ma Shao… Show more

Panel discussing policy and regulatory approaches to promote digital financial services for enhancing financial inclusion without compromising key mandates of ensuring financial stability, integrity and consumer protection.

Moderated by Professor Njuguna Ndung’u, Former Governor of the Bank of Kenya
Panelists include:
• Mr. Ayman Hussein, Sub Governor, Payment Systems and Information Technology
• Ms. Jessica Chew, Assistant Governor, Bank Negara, Malaysia (BNM)
• Mr. Ma Shao Gang, People’s Bank of China Show less

If you live in a highly-industrialized country, chances are that your bank is quite the financial supermarket – providing a range of products and services. In recent years, however, innovators have been building technology to target and disrupt the traditional financial services verticals one-by-one. We argue that technology can unbundle the wide array of services offered by the financial supermarket, but for these new solutions to be economically viable, something else has to happen to create… Show more

If you live in a highly-industrialized country, chances are that your bank is quite the financial supermarket – providing a range of products and services. In recent years, however, innovators have been building technology to target and disrupt the traditional financial services verticals one-by-one. We argue that technology can unbundle the wide array of services offered by the financial supermarket, but for these new solutions to be economically viable, something else has to happen to create both a truly superior consumer experience and a viable business model. Show less

Panel with Ron Suber, President of Prosper; Don Butler, Managing Director Thomvest; Karthik Sethuraman, Co-Founder & CEO of SimplyCredit; and Ipsheeta Furtado, CEO of Fluid Financial; moderated by John Rampton.

Although insurance is one of the largest — and most profitable — arms of financial services globally, it still fails to reach billions of low-income people around the world. But this may not be the case for much longer. New technologies are making it cheaper and easier for industry players to come up with innovative products for low-income consumers, especially those in emerging markets.

In order to get a first impression of what consumers think about these new technology-led approaches… Show more

Although insurance is one of the largest — and most profitable — arms of financial services globally, it still fails to reach billions of low-income people around the world. But this may not be the case for much longer. New technologies are making it cheaper and easier for industry players to come up with innovative products for low-income consumers, especially those in emerging markets.

In order to get a first impression of what consumers think about these new technology-led approaches to insurance, Omidyar Network has commissioned an online survey with consumers in Brazil, Indonesia, Kenya, and the U.S. Even though the samples are not large enough to be representative of general opinion, consumer responses give solid clues around some of the key issues that can hinder the scale of InsureTech models, such as the personal data they are willing to share with providers to calculate premiums.

This insights note sheds light on some of the trends driving InsureTech, and the initial appraisal of consumers on its potential to meet their specific needs.

Medium article here: https://medium.com/positive-returns/what-do-emerging-market-consumers-expect-from-insuretech-e439b894b2c5#.x190qic1u Show less

Panel: Investing in Frontier Markets

Cross post to Omidyar Network: https://www.omidyar.com/blog/light-end-tunnel-trends-driving-access-power-emerging-markets

Panel: The Future of Using Mobile for Utility Service. In recent years the discussion has moved away from ‘if’ mobile and mobile money enabled solutions can contribute to energy, water and sanitation services to ‘how’ they can be incorporated.

Moderator: Mobile insurance is a major opportunity area for mobile operators, financial service providers and start-ups. The session introduced latest trends in the sector, and included CEOs of some of the leading innovators in the space.

Panel: Opportunities for innovation in mobile for development. The mobile communications revolution is driving many of the world’s major technology breakthroughs. The telco industry is connecting billions of people to the Internet and mobilising every device we use in our daily lives. But what does the “Edge of Innovation” look like from an emerging markets perspective?

Interview in May issue of #Access - produced for the Partnership for Financial Inclusion, a joint initiative of IFC and The MasterCard Foundation to expand microfinance and advance mobile financial services in Sub-Saharan Africa.

Speaker at the Bundesbank''s 2nd annual Central Banking Workshop, themed around "Shaping the stability of financial infrastructures for tomorrow". Workshop included representatives from Central Banks from many countries across the world.

Published on front page of McKinsey Quarterly.
To use public money more efficiently and to help deter corruption, Brazil’s government is disclosing detailed information about federal spending—and giving citizens a clear view of their tax dollars in action.

Since the financial crisis, attention has focused on central counterparties (CCPs) as a solution to systemic risk for a variety of financial markets, ranging from repurchase agreements and options to swaps. However, internationally accepted standards and the academic literature have left unanswered many practical questions related to the design of CCPs. The author analyzes the inherent trade‐offs and resulting international benchmarks for a certain set of issues. Four CCPs – FINet, CME… Show more

Since the financial crisis, attention has focused on central counterparties (CCPs) as a solution to systemic risk for a variety of financial markets, ranging from repurchase agreements and options to swaps. However, internationally accepted standards and the academic literature have left unanswered many practical questions related to the design of CCPs. The author analyzes the inherent trade‐offs and resulting international benchmarks for a certain set of issues. Four CCPs – FINet, CME Clearing, Eurex Clearing and LCH.Clearnet – are considered in terms of risk management, CCP links, governance and operational risk. Show less