As the CEO and Founder of Irys Insurtech, a Tampa-based insurtech SaaS company, Margeaux Giles is at the forefront of bringing innovative, AI-driven solutions to the insurance industry.
She’s always on the move, and during our latest meeting, she apologises for being in a rush—she’s preparing for another business trip involving a long flight and countless meetings. Yet, her professionalism and passion for the frenetic entrepreneurial scene shine through.
Balancing her roles as a wife, mother, and insurance leader, Giles thrives on action and innovation. This drive led her to launch Irys, an open API cloud-based management system that simplifies workflows and ensures data precision. Insurtech Insights delves deeper into her journey and the impact of Irys on the insurance industry.
Describe your journey into insurance – how did you end up in the industry, and is there a story there?
My entry into insurance was a blend of serendipity and strategy. Initially drawn to the field by the complex interplay of data, risk, and human behaviour, I started in a role that combined analytics with client interactions. This early exposure to the industry’s impact on people’s lives fueled my passion and curiosity, leading me to explore deeper and eventually spearhead initiatives that aimed to transform traditional models.
What prompted you to launch Irys? How did you come up with the name/concept and why?
Irys was inspired by the Greek goddess Iris, who symbolises communication and new beginnings. This resonated deeply with our mission to enhance communication within the insurance sector through innovative technology. The decision to launch Irys stemmed from my recognition of a critical gap in the market—there wasn’t a platform that fully addressed the nuanced needs of insurance agents and brokers in a digital-first age. Irys is designed to bridge this gap by providing a platform that not only simplifies data management and enhances workflow but also fosters a more dynamic and connected insurance community.
Margeaux Giles
Looking back, I would have placed even greater emphasis on user feedback in the early stages of product development. Engaging with potential users more extensively upfront would have accelerated our iteration cycles and perhaps allowed us to refine our offerings even faster.
What challenges have you faced in the startup world so far that required you to really think outside the box for a solution?
One of the significant challenges was creating a user-friendly platform that could handle complex data integration without compromising on power or flexibility. This required rethinking traditional data handling and user interface design, leading us to develop proprietary solutions that combine robust backend architecture with an intuitive frontend.
Is there anything that you might have done differently, when you look back upon your journey so far?
Looking back, I would have placed even greater emphasis on user feedback in the early stages of product development. Engaging with potential users more extensively upfront would have accelerated our iteration cycles and perhaps allowed us to refine our offerings even faster.
What’s it like being a female CEO in an emerging sector of the industry? Would you recommend it?
Leading as a female CEO in the rapidly evolving insurtech sector is thrilling yet daunting. The landscape of emerging technology doesn’t come with a blueprint, and being at the forefront means you’re often ‘failing in public’ as you trailblaze new solutions. The lack of precedent can be a double-edged sword; the possibilities for innovation are boundless, but so are the pitfalls.
However, the chance to shape the future of an industry and to witness the direct impact of your work makes it an incredibly rewarding journey. For those who thrive on challenge and are comfortable navigating uncharted territory, I wholeheartedly recommend it.
What do you think, from your experiences, would attract more talented women into the insurance industry?
The insurance industry is unique in that it already employs a high percentage of women, with females making up about 60% of the workforce. However, the real challenge lies in elevating these talented professionals into leadership roles and expanding their expertise in emerging fields like insurtech.
To attract and retain more talented women, we need to focus on creating clear pathways to leadership and providing comprehensive education on insurance technology. By doing so, we not only enhance their career trajectories but also enrich the industry with diverse perspectives that drive innovation and growth.
What’s your take on Gen AI, and how is Irys applying it so far?
General AI represents a frontier of vast potential in insurance, particularly in enhancing decision-making and personalising customer experiences. At Irys, we’re exploring AI to automate mundane tasks, predict trends, and offer data-driven insights, all while ensuring ethical standards and transparency in our AI deployments.
What inspires you in insurtech on a daily basis?
What inspires me daily is the potential of technology to redefine the traditional insurance landscape—making it more efficient, accessible, and responsive to the needs of modern consumers and businesses.
Every breakthrough in technology is an opportunity to improve someone’s experience with insurance. and that possibility is incredibly motivating.
Join Irys at Insurtech Insights USA 2024 in New York
Margeaux Giles will be a live on stage speaker at Insurtech Insights USA 2024 at the Javits Center in New York on June 5th and 6th. She will take part in the Women in Leadership Congress
Date: Wednesday, June 5th Time: 11:35 AM – 12:05 PM Location: Main Stage
Giles will be joined by Sabrina Hart, CEO of Munich Re Specialty – North America, and Casey Kempton, President of Personal Lines at Nationwide. The session will be moderated by Megan Kuczynski, President of Insurtech Insights USA
She will also take to the stage alongside Lindsey Strong, CPO of IRYS Insurtech for: Beyond API: Distribution’s New Dynamic Data Exchange
Date: Thursday, June 6th Time: 10:30 AM – 10:45 AM
For more information on the conference panels, visit here
