October 26, 2015
A Word With Shefi: Polyakov at Livegenic
The CEO of Livegenic says the industry is too slow to adopt innovations -- but that creates opportunities for those nimble enough to seize them.
This is part of a series of interviews by Shefi Ben Hutta with insurance practitioners who bring an interesting perspective to their work and to the industry as a whole. Here, she speaks with Alex Polyakov, CEO of Livegenic, which delivers real-time video solutions to help organizations reduce costs, improve customer satisfaction and mitigate risks. His advice: “Never settle for the way things are, and always discover and share a better way, especially when it comes to seeing the customer’s point of view. The better we serve the customer, the happier we become.”
Describe what you do in 50 words or less:
I run a fast-paced startup that specializes in real-time video solutions in insurance claims.
Name an emerging technology you are most excited about:
There are many technologies that are hot right now like drones, Internet of Things, analytics, etc. However, live video streaming is the technology that I’m most passionate and excited about. Not just because that’s our specialty, but because this technology is mature, accessible, with low upfront investment costs and drives incredible value in productivity and customer satisfaction.
What are you most excited about with respect to Livegenic?
We were able to foresee innovation in insurance. We envisioned developing a video platform that would deliver a powerful impact to the insurance market, and we’ve been recognized for producing the type of innovative solutions this industry needs.
Name a challenge you have faced working in insurance:
While the insurance industry is ripe for innovation in many areas, it adopts innovations slowly. This is one reason why there aren’t that many start-ups in insurance compared with other industries. However, this challenge is also an opportunity because the industry is fueled by competition and the need to differentiate.
Your best piece of career advice for the insurance professional:
Never settle for the way things are, and always discover and share a better way, especially when it comes to seeing the customer’s point of view. The better we serve the customer, the happier we become.
Your favorite news source:
I follow several sites, such as Insurance Thought Leadership, Insurance Networking News, PropertyCasualty360 and of course Insurance Entertainment. They all share great content, but I must admit that Insurance Entertainment makes me laugh — always a great way to start the morning.
When you are not working for Livegenic, you are most likely…
I enjoy competitive table tennis, which is like playing chess at 100 miles an hour. It is a great way for me to take my mind off of things and exercise at the same time.
If you weren’t working in insurance, what profession would you be in?
I am a product and technology guy at heart, so I guess if I wasn’t in insurance, I’d be working in technology in another industry.
Your favorite quote:
“Luck favors the prepared.”
Which term best describes you?
- Driverless or in control? In control
- Elon Musk (dreamer) or Warren Buffett (doer)? Doer
- Risk-averse or risk-taker? Risk-taker
To be honest, I wish I could select a term immediately, but I’m very analytical. The best words I would use when I see these questions are “adaptive intelligence.” Meaning, the answer depends on a situation because I resemble a little bit of both during different times.