Instech London Podcast

Jonathan Spry, CEO and co-founder of Envelop Risk, joins Robin Merttens for a deep dive into how data science, AI and portfolio-level modelling are transforming cyber reinsurance. As one of the earliest voices in the industry championing machine learning and systemic risk analysis, Jonathan shares what he's learned over nine years of building Envelop into a leading hybrid underwriter operating across London and Bermuda. In his own words, this episode is about building smarter ways to understand, underwrite and capitalise on emerging risk — with cyber as just the starting point. What you'll learn: Why Jonathan and his team focused on cyber risk and portfolio-level underwriting from day one The rationale behind favouring systemic insights over individual vulnerabilities How causal inference provides a leap forward in predicting tail events Why AI liability is already creating new market opportunities The need for creative, multi-source data strategies beyond traditional claims Why Envelop steers clear of SaaS