Podcast appearances and mentions of bryan falchuk

Episode Info After a series of conferences where I saw some sales tactics that were having the opposite effect from what the person employing them would have wanted, I thought I'd use an episode to share some of the advice I give to companies I've advised over the years. It's informed by my direct experience having been an executive at insurance companies who got sold to, and running the sales function for a B2B SaaS insurtech solution provider. Hopefully this is valuable to anyone trying to sell into the insurance industry (and to those of us on the receiving end of those sales efforts!). Episode Summary This episode provides insights into effective sales and networking strategies for those selling to insurance companies. It challenges conventional sales tactics and emphasizes the importance of personalized and informed approaches. Key Points: Personalized Outreach: Avoid blanket approaches like mass emails or messages. Instead, invest time in understanding if the recipient is a genuine prospect. Tailor your messages to address specific needs and demonstrate genuine interest. Challenges with Conventional Tactics: Many sales playbooks advocate for reaching out to everyone, but this often leads to brand damage and wasted efforts. The video argues that the insurance industry requires a different approach due to its unique nature. Effective Networking: Utilize platforms like LinkedIn for meaningful connections rather than relying solely on event apps, which are often underutilized. Be mindful of social etiquette, such as not interrupting ongoing conversations or meetings. Building Relationships: Focus on being informed and culturally aware to foster genuine relationships. The goal is to reach a point where the prospect feels understood and sees you as a potential solution to their challenges. Practical Advice: Spend a few moments researching potential clients to ensure they are the right fit. Be upfront about your intentions to avoid wasting time on both sides. This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Episode Info Luca Russignan is an insurance expert with more than 15 years of experience with industry-leading consultancies and insurers. At Capgemini, he enables CxO conversations in the insurance sector through data-driven thought leadership to shape insurance business strategy focusing in particular on North America and Europe. He holds an MBA in Strategy and Finance from Hult International Business School.   Episode Summary The interview discusses the future of the insurance industry, focusing on demographic changes and the role of technology, particularly AI, in shaping this future. Overall, the interview provides a forward-looking analysis of the insurance industry, urging stakeholders to consider demographic trends and technological advancements in their strategic planning. Key Points: Demographic Shifts: The interview highlights a significant demographic shift where the population pyramid is flipping, meaning there will be more older people than younger ones. This change is expected to fundamentally alter who buys insurance, the risks they face, and how these risks interconnect. Actionable Insights: The discussion emphasizes the importance of making insights actionable. The goal is not just to provide new information but to explain why it matters and how to start acting on it. This involves connecting future forecasts with present-day actions. Role of AI: AI is seen as a silver lining, offering opportunities to address challenges like a shrinking workforce and climate change. It is viewed as a tool that can enable successful aging of the population and unlock productivity gains. Strategic Conversations: The interview stresses the need for integrating demographic considerations into strategic conversations today. This integration is crucial for preparing for future challenges and opportunities. Future Projections: The interview looks ahead to 2050, considering how current trends will evolve. It encourages taking "no regret" actions today that will be beneficial regardless of how the future unfolds. This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Episode Info Debbie Brackeen leads CSAA Insurance Group in strategy, partnerships, innovation and venture investing. She has more than 25 years of experience and leadership at innovative high-tech companies, including Apple, Sun, HP, and eBay, and, most recently, serving as the global head of innovation at Citigroup. She has served as an adviser to the Astia Technology Committee since 2008, and was an adviser on the corporate board of the National Venture Capital Association. Ms. Brackeen earned a degree in American Studies from Stanford University and has completed executive programs at the Northwestern Kellogg School of Management, INSEAD and the Stanford Graduate School of Business.   Highlights from the Show The video features a discussion with David, who has over 35 years of experience in the insurance industry, focusing on casualty underwriting and management. He currently serves as the Head of Casualty at Argo Group, where he oversees various liability lines, including primary and excess casualty, environmental liabilities, construction liabilities, and workers' compensation. The conversation highlights Argo's niche focus on the U.S. market, with some operations in Bermuda, and its recent acquisition by Brookfield Wealth Solutions. David shares insights into the challenges faced by the Casualty insurance sector, such as social inflation, litigiousness in the U.S., and the economic viability of Casualty lines. He discusses the importance of capacity management and the need for insurance carriers to be nimble in managing their portfolios. The conversation also touches on the impact of distracted driving on auto insurance claims and the necessity for the industry to adapt to changing conditions. The video concludes with a discussion on the future of the insurance industry, emphasizing the need for innovation and the importance of attracting new talent to sustain the industry. David expresses optimism about the industry's ability to adapt and continue providing necessary coverage despite current challenges. Episode Summary The video features a discussion on the strategic implementation of Artificial Intelligence (AI) within a corporate setting, specifically focusing on the insurance industry. The conversation is led by Debbie Brackeen, who heads innovation and corporate development at CSAA Insurance Group, a part of the AAA insurance companies in the US.  Key Points AI Strategy and Implementation: The focus is on harnessing the power of Generative AI (Gen AI) to transform business operations and create sustainable business value. The strategy involves embedding AI as a strategic capability within the company to gain a competitive advantage. AI in Insurance: The conversation highlights the potential of AI to revolutionize the insurance industry by improving efficiency and accuracy in claims processing and underwriting. The use of AI is seen as a way to manage both structured and unstructured data more effectively. Challenges and Opportunities: There is an acknowledgment of the challenges posed by AI, such as the need for governance, controls, and regulatory compliance. However, the potential benefits, such as faster claims processing and better customer service, are emphasized. Future Outlook: The discussion reflects optimism about the future impact of AI, comparing its transformative potential to that of the Internet. There is a belief that AI will lead to new job roles and opportunities, rather than just eliminating existing ones. Overall, the video provides insights into how AI is being strategically integrated into business processes to enhance efficiency and create new opportunities within the insurance sector. This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Episode Info David Corry joined Argo Group in September 2020. As Head of Casualty, he is responsible for leading Primary Casualty, Excess Casualty, Construction, Environmental, Rockwood, and Bermuda Casualty.  Corry previously served as Senior Vice President, Head of Environmental at Argo Group. He has in-depth experience in all lines of casualty insurance, having served as Senior Director at Markel Specialty and Vice President at Liberty Mutual. He also held senior positions at Chubb and Crum & Forster. Corry is a veteran of the armed forces, having served for 29 years in the Air National Guard, retiring with the rank of Lieutenant Colonel.  Highlights from the Show The video features a discussion with David, who has over 35 years of experience in the insurance industry, focusing on casualty underwriting and management. He currently serves as the Head of Casualty at Argo Group, where he oversees various liability lines, including primary and excess casualty, environmental liabilities, construction liabilities, and workers' compensation. The conversation highlights Argo's niche focus on the U.S. market, with some operations in Bermuda, and its recent acquisition by Brookfield Wealth Solutions. David shares insights into the challenges faced by the Casualty insurance sector, such as social inflation, litigiousness in the U.S., and the economic viability of Casualty lines. He discusses the importance of capacity management and the need for insurance carriers to be nimble in managing their portfolios. The conversation also touches on the impact of distracted driving on auto insurance claims and the necessity for the industry to adapt to changing conditions. The video concludes with a discussion on the future of the insurance industry, emphasizing the need for innovation and the importance of attracting new talent to sustain the industry. David expresses optimism about the industry's ability to adapt and continue providing necessary coverage despite current challenges. Key Points: Challenges in Casualty Insurance: Social inflation and increased litigiousness in the U.S. Economic viability of casualty lines. Importance of capacity management and nimbleness in portfolio management. Impact of Distracted Driving: Significant effect on auto insurance claims. Necessity for the industry to adapt to changing conditions. Future of the Insurance Industry: Need for innovation and attracting new talent. Optimism about the industry's ability to adapt and provide necessary coverage despite challenges. This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Episode Info The Insurance Industry is facing a number of challenges today. And yet the number of strategies tools we can use to overcome those challenges is equally numerous. That's the spirit of the conversations my good friend Nick Lamparelli and I get into whenever we talk, and now, you get to hear what we talk about because we got together to take over Dave Wechsler's InsurTech Rap a couple of weeks ago, and I am releasing that episode on my show for all of you! Highlights from the Show The interview delves into the current challenges and innovations within the insurance market, focusing on the years 2023 and 2024. Key issues discussed include the impact of inflation, tariffs, and natural catastrophes on the industry. The conversation highlights the structural changes in the market, particularly the broken cycle of rate adjustments post-crises, and the ongoing struggle to balance profitability with affordability for both carriers and consumers. Regulatory challenges, such as difficulties in obtaining rate approvals, are examined, alongside the industry's frustration with continuous rate increases. The discussion also explores innovative solutions like parametric insurance, which offers a viable alternative to traditional models, and emphasizes the importance of diversification in business models, especially for mutual insurers. The interview touches on the economic effects of tariffs on trade flow and currency attractiveness, as well as the long-term cost of capital. Audience interaction enriches the conversation, providing additional insights into market challenges and potential solutions. The session concludes with gratitude towards participants and a teaser for future discussions on community-based insurance solutions. Key Points: Market Dynamics and Challenges: The conversation explores the structural changes in the insurance market, emphasizing the broken cycle of rate adjustments following crises. Challenges in finding a balance between profitability and affordability for carriers and consumers are highlighted. Regulatory and Rate Issues: The difficulty in obtaining rate approvals and the impact of regulatory actions on market dynamics are discussed. The conversation touches on the frustration within the industry regarding continuous rate increases and the need for alternative solutions. Parametric Insurance Solutions: The rise of parametric insurance as a viable alternative to traditional models is explored, noting its benefits and cost implications. Diversification and Innovation: The importance of diversification in business models, especially for long-standing mutual insurers, is emphasized. The potential for creative solutions like reciprocal models and community-based insurance solutions is discussed. Impact of Tariffs and Economic Factors: The conversation delves into the effects of tariffs on trade flow, currency attractiveness, and the long-term cost of capital. This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Guest Bio This episode featured the co-founders of a first-of-its-kind fertility insurance solution called Flora Fertility. Dr. Christy Lane, President and Co-Founder Dr. Christy Lane is global leader of InsurTech, an investor, founder and award-winning health scientist with expertise in AI, digital health, and wearable devices. Dr. Lane is the Co-Founder of Flora Fertility, the Stanford Wearable Health Lab, as well as Founder and former CEO of Vivametrica. Dr. Lane is also a Venture Partner with IA Capital, an InsurTech/fintech venture firm in New York. Dr. Lane has built her career in women's health research since the 90's, and is blazing a new path forward to combine critical components of wearable tech to help inform insurance policy to make fertility treatments more accessible. As a mom of 3, Dr. Lane has gone through IVF herself and deeply understands the emotional and financial challenges of treatment. She has been recognized as Top 40 Under 40 in Calgary, Female Founders of Insuretech Winner and Top 20 Women in Tech. Laura McDonald, CEO and Co-Founder Laura McDonald is the Co-Founder of Flora Fertility, the first individually-owned insurance solution for fertility and women's health. She formerly founded, scaled, and sold Canada's largest financial media company focused on women and wealth and is passionate about educating women about financial freedom and helping them achieve those goals. She has guided product wholesaling for a major insurance company and helped scale a DTC AI model in the e-commerce space to have global market adoption across 100+ countries. She is a mother of four and the author of two best-selling personal finance books and a former media personality in the financial sector.  Highlights from the Show The interview discusses the innovative approach of Flora Fertility, a company co-founded by Christy Lane and Laura McDonald. The company focuses on providing individually owned private insurance coverage for fertility, aiming to address the high demand and financial burden associated with fertility treatments. The discussion highlights the prevalence of fertility issues, with statistics indicating that one in six people may require fertility treatment, a figure recognized by the World Health Organization as a global health issue in 2023. Flora Fertility's insurance product is designed to be accessible and affordable, targeting women aged 20 to 34 with policies ranging from $15 to $70 per month, offering up to $50,000 in coverage for fertility treatments. The founders emphasize the importance of community and education, aiming to create a supportive environment for policyholders that includes perks, benefits, and educational resources. The episode also touches on the broader implications of women's health and the need for more investment and innovation in this area. It highlights the potential for Flora Fertility to change perceptions of insurance among younger generations and to serve as a gateway for other insurance products. The founders' personal experiences with infertility and their professional backgrounds in healthcare and entrepreneurship are key drivers behind the company's mission. Key Points: Innovative Insurance Solution: Flora Fertility offers a unique insurance product specifically for fertility treatments, addressing a significant gap in the market. Global Health Issue: Fertility issues affect one in six people globally, as recognized by the World Health Organization in 2023, highlighting the importance of accessible fertility treatment options. Affordable Coverage: The insurance policies are designed to be affordable, with monthly premiums ranging from $15 to $70, providing up to $50,000 in coverage. Target Demographic: The primary target audience for these policies is women aged 20 to 34, a demographic that can greatly benefit from early and proactive fertility planning. Community and Education: Flora Fertility emphasizes the importance of building a supportive community for policyholders, offering educational resources and additional benefits. Broader Implications for Women's Health: The initiative underscores the need for more investment and innovation in women's health, potentially reshaping perceptions of insurance among younger generations. Founders' Motivation: The personal experiences of the founders with infertility, combined with their professional expertise in healthcare and entrepreneurship, drive the mission and vision of Flora Fertility. This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Guest Bio Darren Wood is the founder of Recoop Disaster Insurance, a first-of-its-kind, multi-peril disaster insurance product. Darren is an insurance industry veteran, with over 25 years of experience. He previously served as the division president for Holmes Murphy, a top 25 insurance broker, where he was responsible for the delivery of value-added solutions to insurance clients. He also held senior project management and operational leadership roles with Marsh Consumer (now Mercer), focusing on the delivery of employee benefit and affinity solutions to consumers through Fortune 1,000 clients. Darren received his degree in Accounting from Simpson College, earned his Project Management Professional (PMP) designation, and is a veteran of the United States Army.   Highlights from the Show In this episode, we cover the challenges and solutions related to insurance coverage, particularly in the context of natural disasters and underinsurance. The conversation highlights the following key points: Background and Motivation: Darren shares personal experiences from the Gulf War, emphasizing the importance of addressing resource shortages and providing solutions for those in need. Insurance Gaps and Solutions: The discussion focuses on the inadequacies of traditional insurance policies, which are often outdated and not suited to current exposure contexts. Darren is interested in exploring new solutions that can address these gaps effectively. Product Offering: Recoop offers a multi-peril disaster product that provides a lump sum solution to customers. This product is designed to complement existing insurance policies by covering gaps that traditional policies do not address. Distribution and Reach: Recoop has partnered with 22 distribution partners, providing access to approximately 140 million Americans. They are also working with independent agents and larger insurers to expand their reach. Challenges and Perseverance: Darren discusses the perseverance required to succeed in this field, drawing parallels to their military experience. They emphasize the importance of continuous effort and building a strong policy base to increase exposure and coverage. Future Outlook: The conversation concludes with optimism about the future and the potential for new solutions to fill existing gaps in insurance coverage. Darren expresses a commitment to helping others in the industry and addressing the real problems faced by people. Overall, the conversation underscores the need for innovative insurance solutions that can adapt to modern challenges and provide comprehensive coverage in the face of increasing natural disasters and underinsurance issues. This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Bryan Falchuk, President & CEO of Property & Liability Resource Bureau (PLRB), joins Bill Kanasky, Jr., Ph.D. to discuss several topics related to the insurance industry. Bryan shares some details on his background and describes what PLRB is, what they do, and the help they provide insurers/MGAs, service providers, and outside counsel. Bill and Bryan talk about current trends in the insurance industry, key issues around litigation, and Bryan describes how he used to manage litigation during his time as a Chief Claims Officer for an insurance carrier. Bryan shares his perspective on how the plaintiff's bar has increased their leverage in litigation and how players in the insurance defense industry are contributing to the current unbalanced situation.

Is the traditional insurance cycle dead? As capital, technology, and consumer expectations shift at an unprecedented pace, insurers can no longer rely on historical patterns of hard and soft markets to drive their strategies.In this episode ofBuilding Tomorrow's Insurer, host and Kanopi CEO Nigel Fellowes-Freeman sits down with Bryan Falchuk—bestselling author, insurtech advisor, and CEO of PLRB—to explore the forces reshaping the industry.Tune in as Bryan shares:

Join us for an insightful conversation with Brian Falchuk, a revered figure in the P&C insurance industry, as he unpacks the intricate relationship between insurance and technology. With 25 years of experience to his name, Brian shares his perspective on the transformative power of telematics and the slow-burning evolution towards autonomous vehicles. As we navigate through these topics, Brian offers a captivating look at the industry's future, providing a compelling argument that the most significant changes may be on the horizon in the 2040s. This episode is a must-listen for anyone keen on understanding the dynamic shifts in auto insurance and the burgeoning role of technology. Our discussion also takes a turn towards the automotive industry's transitioning strategies, especially how car manufacturers are rewriting the rulebook with subscription models and data-driven services. We explore the tug-of-war between insurers and original equipment manufacturers, contemplating a future where automakers might have more control over the insurance process itself. Drawing parallels with the music industry's subscription pivot, this episode encourages listeners to reconsider traditional notions of car ownership and what this means for consumer loyalty in a tech-driven world. In a fascinating segment, we dissect the unique challenges Tesla faces in establishing a viable insurance model against the backdrop of high repair costs and a narrow product range. We also dive into topics like the implications of Arthur J. Gallagher's hefty acquisition of Assured Partners and the networking potential of platforms like LinkedIn for industry professionals. With a mix of humor and insightful commentary, we even touch on the excitement surrounding the United Healthcare case and our upcoming trip to the Consumer Electronics Show. This episode promises a rich blend of industry insights and engaging storytelling, perfectly punctuated with a light-hearted holiday cheer. Timestamps 02:27 - Deliriously tired since 2 AM: A day in the life of Brian Falchuk 03:17 - The future of insurance: Thought leadership and pushing the industry forward 04:39 - Autonomous vehicles: Predictions, delays, and how the industry adjusts 06:18 - Tesla's robo-taxi announcement: A step forward or just marketing hype 07:10 - Will personal auto insurance become a thing of the past 08:51 - The distracted driving epidemic: Drivers of frequency and severity in claims 10:40 - Who owns the data? OEMs and the shifting power dynamic in insurance 11:05 - The subscription economy: Cars, insurance, and the future of ownership 16:27 - Tesla insurance: High costs, challenges, and what the numbers reveal 23:18 - Why diversified product portfolios matter for OEM insurance venture 27:16 - Should insurers partner with automakers to stay ahead 32:22 - How asking 'How might we?' can open up opportunities for innovation Connect with RiskCellar: Website: https://www.riskcellar.com/ Brandon Schuh: Facebook: https://www.facebook.com/profile.php?id=61552710523314 LinkedIn: https://www.linkedin.com/in/brandon-stephen-schuh/ Instagram: https://www.instagram.com/schuhpapa/ Nick Hartmann: LinkedIn: https://www.linkedin.com/in/nickjhartmann/

The insurance industry is experiencing the infancy of general AI — not generative AI, but general AI, according to thought leader Bryan Falchuk. He's an author, speaker and … Read More » The post AI Not Just for Expense Management appeared first on Insurance Journal TV.

The insurance industry is experiencing the infancy of general AI — not generative AI, but general AI, according to thought leader Bryan Falchuk. He's an author, speaker and … Read More » The post AI Not Just for Expense Management appeared first on Insurance Journal TV.

I'm joined my Insurance and Underwriting veteran and thought leader, Nick Lamparelli, for this episode as we discuss the ideas in the new white paper I'm publishing, "The Economic Viability of Insurance," available starting today for free at http://www.future-of-insurance.com/profit. Highlights from the Show The approaches we have been using to stresses on underwriting profit historically have been cutting costs (focusing on expenses), taking rate, pulling out of markets or segments These approaches proved insufficient to deal with the scale of macro-level pressures insurers faced in 2023, and I would argue will continue to face going forward, like Severe Convective Storms (SCS, or, mainly, hail) and other Natural Catastrophes driven by Climate Change Social Inflation Supply Chain and Labor Constraints Inflation and more We should be looking at new approaches, including How we think about and respond to risk – tools we use to understand risk, select it intelligently to compete on, and harden it when we do choose to offer coverage Move to next-generation approaches to rating that are more dynamic, allowing us to stay ahead of the need for rate change rather than respond far too late and insufficiently Rethinking the products we offer to cover what have been come extremely different exposures from the ones our current products were designed for These solution can take the form of insurtech software or services; E&S/non-admitted product development; Parametric solutions to coverages no longer viable as indemnity products; and so much more Now is the time to really engage in the idea of doing things differently as we are seeing increasing difficulty in aligning prices that are affordable to buy coverage at with prices that are economically viable to sell it at, meaning the market may begin to fail to clear If that happens, other capital can come in and solve for the need for coverage, increasing the pressure insurers have seen on the decreasing percent of risks that are insured against (measured by NatCat losses that are insured vs. not), as one method) Download the paper today, and share it with your network to get more people talking about how we can push our industry ahead. This episode is brought to you by The Future of Insurance thought leadership series, available globally from Amazon in print, Kindle and Audible audiobook. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

I shared some thoughts triggered by a recent conversation with an executive at an InsurTech solution provider who was voicing frustration with his perception that there seems to be a lot of talk that we are perfect or don't need to look to improve at many carriers. He was curious if this was my observation, as well, and what I thought we could do about it. One thing I know I can do is to talk about it, and help inspire all of you to push your organizations to be humble and honest so we can get back to truly achieving what's possible. Highlights from the Show The biggest danger to our industry is hubris - the sense that are are good enough where we are, or that we're so great, we don't need to open our ears, eyes and minds to feedback and insights from customers, employees, partners and peers I'm seeing more of this than I think we have a right to show, and it's holding the industry back I liken it to a bank robber who robbed 10 banks last year, and 5 this year, holding up their great achievement as if that was an acceptable end state Remember that we can and should respect our progress and improvement, but should never confuse that with being good enough to seizing on the true opportunity in front of us Get $200 of new registrations for ITC Vegas 2024 using code 200ITC1291 at vegas.insuretechconnect.com/register This episode is brought to you by The Future of Insurance thought leadership series, available globally from Amazon in print, Kindle and Audible audiobook. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Ian is the co-founder and CEO of Koffie Financial, a finsurtech platform purpose-built for the trucking and transportation industry. With insurance at its core, Koffie's instant and transparent financial services empower truckers with the modern tools and technology necessary to drive efficiency and safety. He is an entrepreneurial leader at the intersection of data, enterprise markets and geospatial analysis. Previously Ian served as founder/CEO of Urban Mapping, a web-based mapping platform he sold to Pitney Bowes in 2015. Customers included Tableau Software, Google, Microsoft, Apple, Facebook, Kayak, IAC, CoStar Group. He has also served in a senior role at a startup that acted as outsourced research for the financial services industry, focusing on alternative data to generate alpha for hedge funds. Highlights from the Show Ian has been a serial entrepreneur, including working in the mapping space and how powerful the meta data about locations, and how critical it is to have accuracy in the data He went on to work on catastrophe exposures, with a specific focus on how geology impacts earthquake losses, which gave him more exposure to managing risk and the impact of loss He was drawn to insurance after a stint offering data to hedge funds because it wasn't as 'I win, you lose' as hedge funds where insurers doing worse means they're helping others Koffie was founded initially to look at the difference in trucking equipment, and how that impacts losses They found that midsize and large risks were self-insuring and forming captives because insurers weren't meeting their needs, but small trucking firms (under 100 tractors) can't afford to do that, so Koffie focused on the smaller-end of the market After a year and half, they got capacity in place, required telematics for insureds (first dedicated equipment, and later with an iPhone app) While this was all positive, the business ultimately didn't survive, and was sold to Acrisure in early 2024 Ian learned first hand something he calls the "InsurTech Paradox" Ian thinks, while we'll see a return of funding, it won't return to the situation where there are huge checks being written He also wonders about whether insurance should be incenting better behavior, even if it means the business that's insured doesn't work that day This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Joshua Morey is the Chairperson of Ori-gen and President of The J Morey Company Inc. Ori-gen amplifies the voice of diverse communities throughout America by providing resources, services, and perpetuation planning for indepedent agents and brokers from diverse backgrounds. With offices in Hawaii, Los Angeles, Orange County, Torrance, and San Jose, California, Ori-gen represents a wide variety of personal, business, and specialty insurance from 40+ national and international carriers. He is a founding Board Member of the Asian American Insurance Network and Asian's in Insurance Podcast, and advisory council member of the Equity in Infrastructure Project. In addition Mr. Morey serves on the Board of Director's for the US Japan Council (Executive Committee), Japanese American National Museum, Little Tokyo Community Council, and was featured on the cover of Rough Notes, and IIABA's national magazine. He is co-founder of KODO Insurance Services (Insurtech) and Chairman of the Board of Arrowood Insurance Services. He has a B.A. in Business Economics, from Wheaton College and a M.A. in Intercultural Studies from Fuller Theological Seminary. In his free time he loves playing baseball and spending time with his wife and three kids. Highlights from the Show Josh is a fourth generation Japanese American, with his great grandfather having immigrated in the late 1800s, and setting up an import-export business in Little Tokyo in Los Angeles The family lost everything when Japanese Americans were sent to incarceration camps during WWII Finding insurance the Japanese American community was next to impossible, so they started their own, and Josh's family started an agency, The J Morey Company, to serve the community, which he runs today Josh's story in taking over is similar to a lot of multi-generational insurance agencies, where the next generation may not be interested in taking over, can't afford to buy the business, or the business is no longer viable, which threatens the legacy of so many family businesses Rather than selling to another agency, Josh worked with a consultant to find a path to keep the business in the family despite not having the financing in place to buy the business That's what sparked the founding of Ori-gen, as a platform to continue the legacy of these companies It's not just about keeping the agencies going, but to support the communities that rely on these agencies in the way his ancestors and their communities needed each other after WWII Josh has also tried to drive more minority involvement in the insurance industry overall, which stems from his sense that this is the best industry and best country in the world That includes engaging the Asian and Pacific Islander community through AAIN (Asian American Insurance Network, where he's a board member), as well as partnering with other groups, like joining NAAIA and Ngozi Nnajiand her Black Friday efforts Josh advocates for DEI efforts because, without them, the industry will miss out on great talent and different approaches that only come from diversity within that talent This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Bill Pappas is Head of Global Technology and Operations, and is a Corporate Officer and a member of the company's Executive Leadership Team. In this role, he directs a team of more than 43,000 people responsible for technology development, infrastructure, information and cyber security, data strategy and analytics, customer service, operations, crisis management, business continuity and procurement for all lines of business, serving more than 90-million customers across 40+ countries around the world. Pappas joined MetLife in 2019 from Bank of America, where he was the head of operations for the consumer, small business, wealth management and private banking businesses. In this role, Pappas directed a team comprised of more than 50,000 employees and contractors delivering integrated service and operations solutions to approximately 63-million consumers and clients. In addition, Pappas led the global business services team that provided integrated technology solutions across Bank of America. Pappas holds a B.A. cum laude in government and an MBA in international business from Bentley University where he serves on its Board of Trustees. He also is a contributing thought leader as a member of the Gartner Research Board and the Forbes Technology Council.  Highlights from the Show Bill and his team are responsible for everything tied to customers and their experience, and includes roughly half of MetLife's staff with about 60k people Bill has never seen the level of complexity, ambiguity and uncertainty that we have today at any other time in this 30 year Financial Services career, and there's a convergence of these things today that's quite different Many of these issues – supply chain, inflation, political uncertainty, cyber – is the first time we're facing them, so there's no existing playbook for any of these items Customer expectations spiked in COVID, but haven't let up since then MetLife has worked on the process to understand the customer needs, wants and demands Then they look at product and process match up with those customer requirements, and then move to development where there's a gap This takes also look at staff, and how they're supported in supporting customers, so MetLife looks at how it creates and maintains a contemporary workforce, which is something that must be dynamic over time How do skillsets evolve, and how do you ensure your workface has the right skills at any given time Workforces are hybrid, have moving priorities and expectations, and decision making isn't as command-and-control as it might have been years ago They are deliberate in not having technology for technology's sake but only in support of the company's strategic objectives, which helps protect against siloed thinking for any one function Innovation is something they've moved to make it part of every staff member's work as part of the culture's DNA rather than existing in a specific team or group They run hackathons, setup investment mechanisms for new ideas and more to ensure innovation is everyone's responsibility and they're empowered to deliver on it DE&I is important to MetLife and is part of everything they do, but they couldn't operate with such a customer focus without it and the diverse thinking and skills that come with it For example, you cannot develop new, powerful tools like AI without different approaches and mindsets involved or you end up with something out of sync with your customer base They see a shortage of women in STEM, and have been working with universities to drive more involvement by women in STEM career paths, and then looking at how to support them better through their careers; this is something they've also worked with other companies and non-profit organizations in the communities MetLife operates in to help make meaningful progress You cannot move the industry or the market on your own, so MetLife has chosen to convene the industry to help learn together and foster the progress the company is trying to make on macro-level things like talent, AI and more This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Richard McCathron is CEO and President of Hippo Insurance and has served as a member of the Board of Directors since February 2017. Prior to Hippo, Rick held senior executive positions at various insurance companies including First Connect Insurance, Superior Access Insurance and Mercury Insurance Group. Rick is both a Chartered Property & Casualty Underwriter (CPCU) and a Certified Insurance Counselor (CIC) and sits on the board of directors of Spinnaker Insurance Company and First Connect Insurance. He is an advisor for several other InsurTech companies and holds a BS in Finance from Oregon State University.  Highlights from the Show Rick's insurance career spans a lot of areas, including different carrier functions, distribution and more, and has been at Hippo for 8 years, including his current role as President & CEO 2023 reminded Rick of the Northridge Earthquake and the impact that had on the industry Hail was a major driver of loss in 2023, which coincided with a trend to buy net quota share insurance (QS with a cap for CAT losses) and Excess of Loss (XOL) coverage above that There weren't big events that would trigger XOL coverage, but the small losses exhausted the QS coverage, so many carriers found their balance sheets impacted There's a fundamental shift in insurance around our financials but also consumer behaviors The pricing pendulum swings wildly because cost drivers move fast, but rate filings and approvals move slowly Tech solutions at carriers are helping to narrow the time gap to help with this, especially tech-driven carriers like Hippo Hippo also mixes its approach to the market between their own product, their fronting business that brings in revenue from other players and lines of business, and their distribution arm, First Connect, that brings commission revenue from selling other carrier's products Growth in this context is imperative to be about profitable growth, and Hippo has focused on this now, whereas there was an initial push to grow, generally That means having more specific offerings to specific buyers, like those who would adopt IoT to protect their property Embedding insurance into new home construction, but using its agency to ensure they don't end up with aggregation issues when working with a builder to insure a new development Rick watches reinsurance profitability as a sign of where primary insurers will end up since there's a disconnect in when reinsurers move prices and when primary insurers are able to price that into their filings The fundamentals of insurance aren't changing, but the rate of speed that you have to adjust how you write and the customer demands and expectations continue to change constantly Rick shared his view on AI, where it is real today, but the AI being used now won't be anything like what we will use in 2 years given how fast it's evolving The traditional coverages the industry is selling are increasingly disconnected from what the exposures they insure are and what consumers actually need for protection (and the affordability of the coverage they can get) People want genuine customization in all aspects of their lives, and to know that what they're getting is genuinely built for their needs Embedded insurance – we have to meet customers where they are, like embedding pet insurance in the adoption process or the purchase process for homes or cars Remembering the fundamentals, but that there's a customer at the other end of this, and we have to serve them if we want to ultimately succeed We talked about being proactive on claims Using Parametric coverage is one way to do that since coverage can be delivered instantaneously (or very quickly) Reaching out to customers when we think there's likely to be a claim (like when there's 2" hail in their area), which historically people think leads to buying claims, but Hippo has seen that the claims would come in anyway, but they'll come later and with some form of representation (attorney, public adjuster), so you end up paying more for the claim in the end than if you had handled it correctly from the moment the loss occurred. This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Charlie Sidoti is the Executive Director of InnSure, an industry-funded not-for-profit with a mission to foster innovation in insurance. InnSure's integrated programs are designed to help insurance professionals and organizations survive and thrive by improving their ability to respond to the disruptive forces that are reshaping the industry. InnSure provides a roadmap for corporate sponsors, experienced industry talent, and outside contributors to connect, innovate and move the insurance industry forward, together. To learn more, visit InnSure.org. Highlights from the Show Charlie Sidoti spent 20 years with large, P&C carriers on the commercial side, and then 10 years in the analytics space around insurance before founding InnSure, which is a non-profit focused on innovation in the insurance industry around climate change They looked at where investment around climate impact was going for the insurance industry, and it tended to be things to help us exit lines or markets faster (avoiding risk, raising rate), and that didn't seem to solve the real issue or be what insurance is meant to do InnSure engages in its mission in a number of ways, including: Climate Risk and Insurance Sandbox Community Embedded Insurance Initiative - to help communities shape their insurability InnSure Corps - multifunctional group from across and around the industry to take newer talent and help them see how to have an impact and grow their abilities as leaders of the future Interacting with government and administering grants and prizes, such as the one from NYSERDA we talked about later in the episode As a non-profit, InnSure can take a position and engage differently than for-profit, commercial enterprises can, including taking a long term view of things and investing with that horizon The Innovation Prize, which is a $5m program from the NY State Energy Research Development Agency that InnSure is administering by giving grants of $500k to $1m The program is helping to foster ideas past the initial risk in commercialization that many great ideas face early in their journey Insurance in particular can help protect NYSERDA's investments in clean tech, clean transportation and clean buildings, with 5-10 ideas to be supported The idea must be relevant to NY, though it can apply to other geographies in the US, too The application process is open through July 22nd, 2024 at https://innsure.org/prize-page Looking forward, the climate issues are very real now and not just talk, and we are starting to talk about things other than raising rates and exiting. You're seeing discussion about Predict & Prevent Parametrics Community embedded insurance, with communities buying coverage for a hard-to-cover area This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Amir leads Fintech and Insurtech investing at AV8 and has been one of the earliest investors in the Insurtech space. Amir has been an entrepreneur, operator and investor with over 15 years of experience, working with early and mid-stage companies on financing, partnerships and strategic growth initiatives. Prior to AV8, Amir was an investment director and founding team member at Munich Re Ventures where he lead and managed investment efforts for two of the funds and made early bets in Insurtech, Mobility and Digital Health in companies like Next Insurance, Inshur, HDVI, Spruce, Ridecell, Babylon Health etc.. Earlier Amir worked for several venture funds, including Route 66 Ventures, focusing on Fintech and Insurtech, and investing in companies such as Simplesurance and DriveWealth. He began his career in Germany as a network engineer and subsequently at Legodo AG (acquired by Open Text, OTEX (NASDAQ)), an enterprise software startup, where he held several roles in sales, business development and product management until acquisition. In 2019, Amir was ranked 11 out of 100 on Global Corporate Venture's Rising Stars list and was named a “VC Champions Select” by All Raise. Amir lives in San Francisco and holds an MBA from Georgetown McDonough School of Business, a BS in Business Informatics from RFH Cologne in Germany and is currently finishing an MS in Law from Northwestern Pritzker School of Law. Highlights from the Show Amir started investing in InsurTech in the mid-2010s, and spent most of his investing career at Munich Re in their Ventures team, as the third member of the team They started investing in industrial IoT and similar topics since their funding was from Hartford Steam Boiler (HSB) In 2016, there was more of a pivot into InsurTech as it emerged At AV8, Amir focuses on early stage, focused on very early stage to some revenue traction but still pre-series-A generally Their majority LP is Allianz, and the fund is heavily FinTech-focused They like risk taking businesses like MGAs and full-stack carriers because of the long-term returns, plus the difficulty in selling to insurance companies and surviving the long sales cycles Amir has focused on niche markets or areas where incumbents lack digital solutions, and leading with building a new insurance approach and adding tech after it's established Investing in long-term ideas may take longer, but then there's strong moats that can stop competitors from eating your lunch, which is harder to do with short-term ideas or SaaS areas Investment has gotten tough, but there are investors out there still; they just may be looking more critically at profit potential than might have happened in the past InsurTechs that went public and haven't done well were not alone – the market more broadly was pushing a lot of startups to go public so investors could get returns, but for many it proved too soon to go public because fundamentals weren't there yet This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Bryan Falchuk, host of The Future of Insurance podcast, offers his views on industry opportunities, sharing his experiences, insights and a series of case studies from his book of the same name.

Guest Bio Yaron Ben-Zvi is an executive with a track record of building innovative businesses in complex spaces, such as insurtech and financial services. Yaron is currently COO at Oka, The Carbon Insurance Company. Oka is de-risking the voluntary carbon market (VCM) for buyers and sellers of carbon credits with first-of-its-kind carbon credit insurance, which provides buyers with financial compensation in the event of credit reversal or invalidation. Previously, Yaron was  CEO of Haven Technologies and Haven Life. At Haven Technologies, Yaron led the build of a modern, cloud-based, and end-to-end technology platform for life insurance that became a key part of MassMutual's transformation strategy. As Founder and CEO of Haven Life, Yaron grew the company into one of the leaders in online term life insurance distribution with its transparent and user-friendly product design. Along the way, Haven Life was recognized by U.S. News & World Report and Investopedia as one of the best term life insurance providers in the U.S.  Previously, Yaron founded Goalmine, an early robo-advisor that was acquired in 2012.  As a leader, Yaron is passionate about creating unique and collaborative company cultures that help teams realize their potential. At Haven, Yaron had the honor to build and lead a team of more than 350 technology and insurance professionals to make life insurance simple and expand access to this critical financial product. Yaron obtained his BA in history and political philosophy from Wesleyan University and his MBA from The Wharton School at the University of Pennsylvania. Highlights from the Show Yaron joined the show with the Life Insurance startup he founded, Haven After leaving Haven, he was looking for an opportunity in something that connected to his interest in dealing with the climate crisis, which lead him to Oka, which insures carbon offset and credit transactions Companies that use credits and offsets as part of their decarbonization strategy, the founding team at Oka realized there were a number of risks that make this difficult, with Oka focused on post-issuance risks, like Reversal Risks - you buy carbon credit from a forest in Canada, but a wildfire burns that forest down. Or, illegal logging shrinks the forest. These are risks that could release the captured-carbon back into the air. Invalidation Risks - the methodology behind the carbon credit was flawed, like fraud being committed in the actions that lead to the carbon sequestration Oka was only started in 2023, and today has their own syndicate at Lloyd's, capacity from partners, and the technology to support it – with a team of seven people The CEO, Chris Slater, comes from the industry, as do the board of directors, so there's a lot of experience building insurance businesses The carbon market is split into two sub-markets Voluntary Market – companies that are choosing to decarbonize Involuntary Market – government or regulators force compliance with certain standards and timelines Both markets are growing rapidly out of necessity, and there are buyers and sellers that need protection Some buyers want protection if they're newer to the market, or are doing something unproven Some sellers who want to enhance the attractiveness of their carbon credits and to protect themselves from something going wrong that makes it hard for them to deliver or fulfill the credits they've sold This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Festus William Amoyaw started his career with Amex International Incorporated, a contractor for the USAID in Ghana Trade & Investment Reform Programme, Increased Private Enterprise Performance (IPEP) Component Project as a Market Research and Business Development Assistant. He subsequently worked in an indigenous Ghanaian Financial Institution, HFC Bank (Republic Bank), as a Credit Analyst focusing on Small and Medium Enterprises. In the last decade, he has gathered considerable experience in private equity and impact investment. He worked with GroFin Ghana, a subsidiary of GroFin Capital based in Mauritius, as a Business Development Manager and, subsequently, a Portfolio Manager. He also briefly worked as Investment Officer with Investisseur & Partenaires (I&), a Paris-based Fund Manager of I&P Afrique Entrepreneur Fund of Euro 55 Million in the Ghana Office. From I&P, he moved on to work at Acumen as the West Africa Officer, where he sourced for deals, conducted due diligence and closed various transactions. In 2018 he joined the Regional Offgrid Electrification Project (ROGEP), an Ecowas Center for Renewable Energy and Energy Efficiency (ECREEE) initiative funded by the World Bank Group and partners as a Finance Expert. He also acted as the Coordinator for ROGEP before joining WAM. He has worked as a Principal Investment Officer with Women's World Banking Asset Management (WAM) and Consultant for Lendahand and XpressGas Limited. Currently, he is the CEO/Co-Founder of Figtech Limited, a Fintech startup company in Ghana. Fintech has developed an App, MYFIG, to solve the challenges many faces in navigating various financial products. He graduated from Kwame Nkrumah University of Science and Technology, Kumasi and the University of Ghana Business School in Agriculture Economics and a Masters in Business Administration, respectively. He is a Certified Digital Finance Expert from the Frankfurt School of Finance and Management. Highlights from the Show Festus started working about 3 years ago on the issue of people in Africa having enough financial protection for retirement or to protect their families, and penetration rates of traditional life insurance products are very low Africa has seen the adoption of mobile payments, even on feature phones instead of smart phones, but that's largely not moved into financial services spending so much as general consumption All of this lead him to co-found Figtech, which is a platform to manage your insurance protection Life insurance is sold by individuals in Africa, but these agents don't tend to stand behind or support the policies after they're sold, so consumers struggle with basic things like updating their address (which requires going to the insurance company's office to change it in person) There are changes needed in the insurance market and regulation of it to see more penetration of insurance Some regulators have been creating more flexible paths for startups and new players to enter the market and grow For example, creating digital distribution licenses They've also allowed for creation of microinsurance that comes along with or is embedded into other products, like insurance you get when you buy more airtime minutes for your mobile phone Figtech was part of the first regulator-organized startup competition three years ago, and that experience helped spark Festus to push to create an insurtech community in Ghana, starting InsurTech Ghana They've been working with other InsurTech communities around the world, and started the first ever InsurTech Ghana conference in 2023, which they're holding again this year Africa is where a lot of new ideas of coverage and ways to protect people are being developed, and we would be smart to foster and watch what's happening there as a source of possible future product innovation ideas for the global insurance market This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

As Chief Innovation and Digital Officer, Chetan is accountable for leading the company's digital vision and maturing our enterprise digital capabilities and expertise while creating new customer-centric products and services for members and partners. Chetan is a visionary leader who has repeatedly developed high performing teams to work towards a common vision and purpose. During his 18-year career at Nationwide, Chetan successfully delivered several of the industry's largest transformations, with more than $1B in investment towards creating single core platforms for Policy, Claims, Customer and Data. In his tenure as the leader of digital and innovation, Chetan and his teams have advanced Nationwide's strategy through digitization of customer journeys and the development of a robust innovation portfolio. Leading with a people-first philosophy, Chetan has fostered a culture of experimentation and collaboration, guided by a strong commitment to customer-centricity and focus on technology based innovation. His ability to anticipate and embrace change has accelerated innovation efforts and amplified key business outcomes for Nationwide. Chetan holds a Master of Business Administration (MBA) from The Ohio State University, a Master of Science in Information Systems from Miami University, and a Bachelor of Science in Computer Science from Muskingum University. Highlights from the Show Chetan runs the enterprise innovation and digital area, which is here to help focus on what's coming in the future They think about the meta trends impacting insurance, insureds and insurers like autonomous driving, climate change, GenAI and more Nationwide thinks about three things when looking at how to structure your innovation efforts so it's not just a hobby but something that has actual tangible benefit As an industry, there are several things that hold us back, including the standard answers (regulation, it's not a sexy industry), but also things like what we sell not being easily understood / being complex; because the cost of product is unknown at the time of sale, it's very risky to do something new in the space because you won't know if it was a big mistake until it's been far too long to do anything about it; there's a misnomer in the idea of innovation being about something completely new but rather something disruptive Gen AI is something Nationwide has been looking at, and doing some real, tangible things with, mainly focused on how to enable their people to be materially more empathetic much faster Horizon 3 outlook is very much about how connected things impact what Nationwide does Chetan says we need to decide who we are, first movers, fast followers or laggards This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Paige leads Highline Beta's Corporate Innovation group that works at the intersection between venture capital, startups and enterprises businesses. Her background is in using qualitative, quantitative and behavioral research to shape and build new companies, products and services. During her time at Highline Beta she's worked with numerous Insurance firms to think through investing in innovation or spinning out new ventures.  Highlights from the Show Highline Beta is a hybrid corporate innovation studio and venture capital investor that works with corporate partners to help bring ideas they are working on to fruition internally or as a standalone business, in the US and Canada Insurance is interesting to Paige because of the constraints itself, which present interesting things to work around and through, which pushes for great moments of innovation Some themes they have worked on include Embedded insurance, for example helping an existing carrier allow its idea for embedded to develop outside of their core so it could move faster and more freely and get to market Technical themes like AI (and, yes, GenAI) and how it can be used, especially internally, to improve how we work and the results we can achieve, whether on expenses or losses A major challenge to insurance innovation is the data we have and have access to, and doing so in a way that respects privacy, both legally and for people's comfort levels There are differences between the US and Canada, like how Canadians don't have to buy health insurance and how each state in the US has different rules and regulations, which can complicate deploying a single approach to an idea across the country For AI, we're still at the early stages of implementation, which are largely around making incremental improvements, especially around efficiency To reach a five or 10 year outlook, that will take changing a lot of the internal systems, both technical and operationally, around, for example, whether a process has any human interaction at all (like the handling of a claim), and how to enable that Looking ahead, connecting products, data and consumers will lead to better insurance products that better meet people's needs, but also allows us to start to make meaningful progress on the Predict & Prevent notions we hear a lot of talk around today This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

This is a short bonus episode to share that there won't be a new episode for a couple of weeks. I also share the message from a recent talk I did on how we, as a legacy industry, can find a path to innovate and evolve. Highlights from the Show Due to some scheduling issues, there won't be a new episode of the show until the week of March 25th, 2024 I recently did a talk on Innovating in a Legacy Industry that had 3 main takeaways Customers - ask them directly, listen to what they say, and deliver to that Culture - empower and involve your people in the change your organization needs to make Speed - you need to be able to move fast (not just faster, but genuinely fast), and also know when to slow down The recent turnaround in Q4 of many carrier's 2023 performance was good, but also dampened the pressure to change, which is unfortunate We all need the reminder that, no matter how well we seem to be doing, we can and should strive to do better This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Episode 704: On today's Unscripted, Neil Alldredge, president and CEO at NAMIC, talks with Bryan Falchuk, president and CEO at PLRB, to discuss how the industry is navigating the risks and opportunities of using generative AI in insurance. 

Dr. Robin Kiera is the Founder and CEO of Digitalscouting a consulting and marketing agency based in Germany. Robin is an author, renowned speaker, entrepreneur, top-ranked insurance and finance influencer. He started Digitalscouting as an after-work hobby that exploded positively and became a multimedia B2C, B2B and B2B2C consulting and marketing agency – supporting entrepreneurs, c-suits and start-ups in their digital transformations, market-entry, hacking the attention of customers and partners. He joins the show to share about his new book, Attention Hacking: The Power of Social Media Selling in Insurance and Finance, which was recently released in English, that is *the* guide for the insurance and finance industries on how to have real impact and build a following through your social media presence. He shares the insights and hacks we can all put into practice right now unlock the possibilities in our brands, both personally and for our organization. Highlights from the Show To learn more about Robin, check out his first appearance on the show in Season 1, Episode 20  Robin started as an agent at a carrier, and then moved to the startup side In the early-2000s, he saw the changes coming as the Internet grew, and started to speak about it through a blog, public speaking and social media once that took hold He shares some of the key hacks or insights from the book, like the kind of story we need to be telling, the production values we need to hold high in our efforts, and the power of momentum You can get the book and the insights from it at http://www.future-of-insurance.com/attentionhacking This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

David Gritz joins the show again, this time solo, to share some of the important themes he and his InsurTech NY co-founder, Tony Lew, are making the center of their 2024 Spring Conference. Those themes, AI and Analytics, are each powerful and important in their own right, but the interplay of the two is exponentially more impactful for the future of the insurance industry. The Spring Conference will again focus on practical and impactful applications of AI and Analytics from across P&C, Life and Benefits, with speakers and panelists from across the industry, as well as outstanding networking opportunities. Highlights from the Show InsurTech NY is an ecosystem that acts as an international gateway for startups, brokers, investors and insurers to come together to make the world more resilient through insurance solutions David's experience with an insurtech startup is told in The Future of Insurance, Volume III. The Collaborators March 20th and 21st is the InsurTech NY Spring Conference at Chelsea Piers in NYC, with this year's themes being AI & Analytics and how they can improve underwriting, claims outcomes and more They try to make the content practical so people can walk away with ideas about implementation and impact, with thoughts like how AI can make you more efficient, which can allow your people to dig into the things that take more expertise and therefore drive better results The framing for the event is focused on some key questions Will AI stick in the industry? If so, what kinds of AI and applications are likely to be more than just buzz? How can Analytics help with the highly volatile state of the world today, and the way volatility in different areas is so intertwined, like labor, inflation, war and climate risks? How does AI coming together with Analytics change things? They have a startup in their accelerator called Salient looking at this type of question precisely ITNY also has launched a VC Fund, and are launching their second fund now, with a few areas of focus The growth of Excess & Surplus (E&S) lines as a way for startups to serve a niche that existing players can't serve effectively today A portfolio company, Sertis, focuses on multi-family property risks and combine insurance with a tool to drive better property management and upkeep to reduce losses and rates Reducing the friction in insurance transactions, which is a broad theme A portfolio company, BirdsEyeView, combines all the tools an underwriter needs in one screen to make it easier to take in underwriting inputs from different sources like weather tools smoother and faster Increasing the availability of coverage to more parts of the market to make the world more resilient Elios, who makes disability insurance easier to buy, helping to solve for the extremely low penetration rates of the coverage (only 14% in the US, and just 5% in the UK) The second day Keynote is a panel around startups getting to profitability, with three major insurtech CEOs on stage Jack Kudale, CEO and co-founder of Cowbell Cyber Alex Timms, CEO and founder of Root Insurance Rick McCathron, CEO of Hippo You can get more information and tickets to the ITNY Spring Conference at insurtechny.com This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Josh Levine is the founder and CEO of Cake & Arrow, an experience design and product innovation company that works exclusively with insurance companies to create digital products and services that are grounded in real customer needs. With over 25 years practicing human-centered design methodology, Josh has led innovation initiatives for some of the world's largest carriers and distributors including MetLife, Travelers, Chubb, Aflac, The General, and American Family. A designer by trade, Josh is most passionate about helping insurance companies leverage a design-driven mindset to create authentic and meaningful relationships with the customers and employees they serve. Cake & Arrow is a UX Design and Product Innovation company that works exclusively with the Insurance industry. We believe empathy sparks opportunity. Our human-centered design approach helps carriers, distributors, and service providers create breakthrough digital experiences that drive results. For more than 20 years, we've helped the insurance industry make buying, selling, and servicing insurance better for everyone, by design. Highlights from the Show Cake & Arrow is a UX and product innovation design firm focused solely on insurance, starting from human needs (of the customer) They leverage design and human centered mindsets to help the insurance industry make buying, selling and servicing people better What's holding us back? Josh shared several reasons We are wired to think about our company and our industry – competitor intelligence – and so we look at what we and our competitors think or are doing rather than starting with customer intelligence If you don't, you'll miss the shift in customer trends, challenges and interests We have a tendency to jump into solution mode, which means we put a lot of resources into projects that take years to implement, but they may not be the right things to be working on, so we're expending a lot of time and resource on things that aren't what we should really be working on We measure progress by the number of features we roll out rather than the impact on the customer The intent to innovate is there, however, so Josh has great hope for the industry's ability to move forward Key Lines from the Episode Josh's LinkedIn: https://www.linkedin.com/in/joshplevine/ All Cake & Arrow Research Reports Select articles and reports: The mindset shift the insurance industry doesn't know it needs Climate change & Homeowners Insurance We're Anxious but Optimistic: What these 12 people want insurance companies to know about their finances Beyond Burnout: Redefining Benefits for a New Era of Work This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

InsurTech Hartford Founder and President (and Godfather of InsurTech), Stacey Brown, joined the show to share what drove him to start the community years ago, how it's evolved into a thriving, international source of impact for the future of industry, how the InsurTech Hartford Symposium is evolving for its fourth year, and the exciting launch of communities in Chicago, Atlanta and now New England. Highlights from the Show Stacey started his insurance career in an IT role, and had an opportunity to grow his path into the digital opportunities that started to surface in the 2010s In 2017, looking at the developments in the space, he saw a need to build a community in Hartford to foster the opportunities in the region because of its unique confluence of companies, educational institutions and local and state government He started InsurTech Hartford to drive networking in the space, but also to help grow the community itself through a variety of activities, like working with local schools (high school and college) on their programs, letting startups pitch their solutions, and more, including their annual InsurTech Hartford Symposium This year's Symposium will be at Mohegan Sun, April 17-18 Programming will feature a single track so the event can be more focused and communal There will be roundtables and other ways for people to work together on issues more directly The networking space will continue to be big, open and inviting to encourage sharing of ideas, building of relationships and learning about all the great solutions out there They've expanded to help grow similar organizations in other cities, starting with InsurTech Chicago and InsurTech Atlanta On February 28th, the first event of the new InsurTech New England will take place in Boston's Seaport district, with a panel, Meet the Startups session and lots of networking as we start to build a community to serve the rest of New England (register at http://www.future-of-insurance.com/itne) This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Tomer is CEO and Co-Founder of VOOM. VOOM is an InsurTech pioneer, crafting cutting-edge, usage-based insurance solutions for the future of mobility. Among VOOM products are VOOM&Fly/SkyWatch - the leading digital drone insurance product in North America, VOOM & RIDE - the world's first pay-per-mile motorcycle insurance product, and VOOM & Drive - auto insurance tailored for the unique needs of gig drivers. Before VOOM, Tomer spearheaded award-winning, interdisciplinary technological projects in the Israeli Prime Minister's Office cyber unit. Tomer is a graduate of Israel's elite technology program “Talpiot”, and holds an MBA from Tel Aviv and a BSc in computer science and physics from the Hebrew University. Highlights from the Show Tomer is a computer scientist and physicist by background, and started his work in an elite unit in the Israeli Defense Force's technology unit, and met his cofounder, Ori After completing their service, they wanted to start a new business, and eventually started a drone insurer, SkyWatch, which is the largest drone insurer in North America today, and Voom, a mobility insurer SkyWatch saw success because they built a best-of-breed risk assessment platform, as well as a core system that allowed great flexibility in distribution (including embedded), data and more that they call the Voom Core Voom is focused on mobility insurance, like motorcycle, ride-sharing solutions and other auto and mobility related insurance products The strategy has been to identify a specific category, look at what would be needed to truly delight customers and serve their needs, and try to deliver that, which they've used to go into several spaces beyond their initial drone product One example is how they've address motorcycle coverage Many motorcycles (70%) are occasional-use products, so paying for coverage for regular use seems not to make sense Voom offers the first pay-per-mile motorcycle product, based on sending a photo of your odometer to calculate mileage For traditional insurers to innovate in small segments (relative to their overall scale) is hard because the lift isn't enough for the size of their bottom-line, so customers end up being overlooked and stuck with products and CX that becomes outdated They think of changes in mobility in three ways: New platforms - beyond cars, moving into drones, e-scooters and more Increased connectivity - data connections impacting underwriting, loss prevention and more (like their pay-per-mile motorcycle product) New utilization - changes in ways of using platforms, like ride-sharing changing how cars are used The future of mobility insurance isn't something Tomer claims to know what will happen in the long term, despite all the predictions out there, but he does see some things emerging and some things as technology proof Regardless of autonomy, some people will still want to drive for the pleasure of it, including motorcyclists New ways to use mobility products will keep emerging, and they will require coverage designed for that specific solution, like when Uber or Turo came to be This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Wesley is CEO and Co-Founder of Sola Insurance based in Atlanta, GA. Wesley comes from a tech background and jumped into the insurance industry at a flood insurance startup where he was tasked with working on the data side with private and FEMA flood maps. Realizing this data was telling us exactly where the damage is, Wesley became obsessed with how data can be used to automatically trigger an insurance claim payout. Sola is starting with supplemental tornado coverage for homeowners but plans to expand into every type of natural disaster to help people cover their deductible and immediate expenses. Sola has already been approved in 15 states as the first ever admitted personal lines parametric product, is fully reinsured through Lloyd's of London, and has partnered with hundreds of insurance agencies across the Midwest and Southeast. Highlights from the Show Sola Insurance is a new class of financial insurance products that helps homeowners cover their deductible and immediate expenses after natural disaster events Sola is developing new products that pay period faster and more transparently so they can get back on their feet Right after a disaster, there's an immediate need for assistance while you wait for a traditional claim to get handled (even if it's handled quickly) Deductibles have increased across many lines of insurance, with homeowners choosing $2,500 deductibles twice as frequently just over four years ago, which is more than most Americans have saved for emergencies Many homeowners policies or coverages within them have significantly higher deductibles, like for wind or quake The pressure to increase deductibles is only getting worse, as discussed in this WSJ article we mentioned The cost of capital and providing insurance for carriers is going up, with 30% increases in reinsurance The initial product is a Tornado parametric coverage, which is the first time a startup has launched an admitted parametric product They have capacity from Beazley and fronting from Spinnaker They've just had their first two claims after the Hendersonville tornado outside of Nashville, Tennessee, and paid both within 60 hours of the tornado touching down They see this as complementary to existing coverage, and have seen a lot of interest and support from independent agents who are looking for ways to create coverage to fill in for increasing deductibles to keep insurance affordable With the original HO policy developed in the 1950s, Sola is trying to create solutions for what risk looks like today Their next priority is Wind & Hail, which is segmented out on traditional HO policies and is a frequent cause of loss Wesley started Sola in the Global Insurance Accelerator in 2021 and is young, along with his co-founders, and they haven't let that stop them or slow them down in an industry where tenure and tradition continue to carry weight Wesley credits a two things with their success despite their age: An innate sense of curiosity, which helped him to really get into the issues at hand and stay open to learning People can't deny the work that you've done, so the team has ensured they keep delivering and proving themselves, balancing the need to spend time building relationships with delivering tangible milestones and results This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Kobi is the CEO of InsurTech Israel that established by him to promote and lead the Israeli Insurtech ecosystem. The company has four areas of activity, investments, Bizdev, media and Acceleration program. All that activities make InsurTech Israel as the leading and most active company in the Israeli Insurtech. Kobi was the founder and CEO of Reshef Insurance Brokers, part of Migdal / Generali Insurance Group. Kobi has 22 years of experience in the insurance industry and holds a BA in Management and an MA in Law from Bar Ilan University and he is a Colonel (Reserve) in the IDF. Highlights from the Show Kobi started an MGA in Israel that grew to be the largest in the country that he sold to Generali After some time off, he saw a need to create a way to strengthen the insurtech ecosystem in the country Tel Aviv has almost 200 insurance startups, and InsurTech Israel supports them with four pillars Investment Business Development Exposure Accelerator They partner with other organizations, including BrokerTechVentures, AIG, Aon, AF Group, Dell, Milliman, ResourcePro, Xceedance and others They work across the entire value chain and space in insurance Insurance works on trust, so their core mission is really to help build trust in companies in the ecosystem there Tel Aviv has been a hotspot for innovation more broadly, which Kobi attributes to a very social environment, open mindsets of the people to embrace new ideas, and infrastructure from the government and supporting areas like venture capital Right now is obviously a very difficult time for anyone in the area, and only adds to the uncertainty and need for great leadership for startups Kobi shared the initial shock after Black Saturday in October After a few days, they realized they cannot stay in shock, and must continue or they will lose their momentum and place in the industry It's a time where the country is clearly in the midst of trauma and the impact that's having on the community is visible One reason Kobi believes Israel has so many startups is the way it faces major strife and disaster and comes back stronger, which builds resilience and toughness to press through great challenges Today, the main focus for InsurTech Israel is to support their startups with fundraising as they found many of their members were planning to raise soon and need support there given the way the war is impacting fundraising and these startups need to make it through to their next raise This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Bobby Touran is the CEO and co-founder of Rainbow. He is a founder, CEO and operator with over 15 years of experience in insurance and software development, having previously founded Pathpoint, a digital insurance brokerage focused on retail agents and their E&S risk. Follow him on LinkedIn. Highlights from the Show Bobby is an entrepreneur, with the second half of his career being focused on insurance, including starting a digital E&S exchange, and now co-founding an MGA called Rainbow Rainbow is an MGA focused on specific niches or verticals in small commercial, using that focus to enable better underwriting and service to the space Their initial focus is on providing BOP to restaurants, which they view as an area that will always need coverage and is going through dislocation today as some traditional players have pulled back They can connect third party datasets that are super-specific to a vertical for better understanding of the risk and not just to enable faster application completion time or quote turnaround They also have expert underwriters who really understand the vertical rather than looking to automate underwriting out of the equation In terms of moving into new verticals vs. investing in growing out their first vertical of restaurants, they see plenty of room for growth in restaurants today as they add more states or deepen their distribution relationships with their agents, but they also have a rubric of sorts to help them identify where to move next in terms of new verticals Their relationships with agents and brokers and the underlying platform they've built should allow them to scale and expand efficiently without having to build it all from scratch with each new vertical The focus on a handful of codes for a given vertical helps them stay focused and clear on what they do (and don't do), and the systems, processes and skills needed to support their business They've also built their platform with modularity but also in-house so they aren't beholden to constraints of other systems or vendors They get better underwriting results through three prongs to their strategy Their system has their risk selection built in from the start so they can weed out risks they aren't positioned to underwrite quickly and early for their agents, and the criteria can be very nuanced, specific and inter-connected They have access to deep data on their vertical, and keep eyes on it over the life of a risk so they can get a truer picture of risk early and often They have experienced human underwriters, who not only look at the risks, but also provide differentiated service to their agents and brokers which is something their distribution partners call out specifically as a reason they like working with Rainbow Bobby thinks there's a lot of opportunity today, even in this investment environment, but it requires demonstrating genuinely good underwriting results at the heart of your business When some in the market run away from a space that needs to be served, Bobby sees a moment of opportunity to see if a better approach can be deployed to then successfully and profitably seize on that market dislocation This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Adrian Jones is venture capitalist in insurance and former reinsurance executive.  Organizations that he has been a part of have invested in 40+ young insurance sector companies.  Adrian has been a Board director or observer at eight young companies including distributors, carriers, and service providers in insurance.  Before joining HSCM Ventures as a Partner in 2021, he was Deputy CEO of P&C Partners at SCOR, where he set-up and led SCOR P&C Ventures.  From 2010 to 2016, he was head of strategy at RenaissanceRe.  He started his career in 2001 at Bain & Co and has lived/worked in New York, Paris, Bermuda, Brussels, and Stockholm.  Comments made by Adrian are made in a personal capacity only and should not be associated with any organization to which he is afiliated, employed, or an investor.  His comments are solely for educational purposes and do not represent recommendations or research.   Highlights from the Show Adrian started in consulting, then worked in reinsurance and venture investing He has been looking at the headcount in the InsurTech sector starting with data from mid-2020, and saw that employment has increased from about 75,000 to over 100,000 In the downturn, there was a retrenchment, with companies reducing staff by 31% on average, with the bulk of that being driven by mid-sized companies (200-1000 employees) There's been a lot of movement recently, between startups and incumbents, and people from outside the industry coming into it (and vice versa) This also portends the changes we've now seen in the traditional insurance companies, especially in admitted carriers, some of which have been reducing staff Adrian spoke at ITC on lessons from early InsurTechs (founded after 2008) who are now worth $5 B or more, and looked into what lessons we can learn from their success He noted 7 lessons from their experience A surprising finding is that technology is not the differentiator He found leadership teams that were experienced, entry into dislocated markets, partnership and support with regulators, and time to prove their model's success "Insurance is a business of compounding reserves over time, and many young businesses haven't had the chance to prove that their compounding machine works? You can see his slides at https://www.linkedin.com/posts/adrianjo_adrian-jones-keynote-at-insuretech-connect-activity-7125587320308682752-NhL6 Insurance isn't about the giant TAM and high traction for Adrian, who would rather see less traction but the right traction rather than getting lots of traction that ends up being bad business Adrian has also seen reinsurers support the new InsurTech risk takers, whether backing programs where 100% gets ceded, to even carriers where they're ceding 40-60% of the premium (whereas an established carrier seeds 6% on average) He didn't see the reinsurance veto people predicted We talked about how to address the issue where coverage is too expensive to buy and too cheap to sell in some pockets today, and what role parametric could play in solving that He sees parametric as a good solution, but in niche situations like a deductible buy down You face basis risk and a need for distributors who are willing to educate consumers while taking potential E&O exposure if insureds are unhappy when their loss isn't paid because the parametric trigger wasn't met This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Juan de Castro is COO of Cytora, leading product strategy, sales, distribution, partnerships and operations. He was previously UK COO at Hiscox (FTSE100), and lead Group Strategy and Corporate Development at the Group level, reporting to the Group CEO. Before moving into Insurance, Juan was a senior manager at McKinsey's Silicon Valley office, focusing on growth strategy and operational improvement engagements for Fortune 100 companies. He worked across a number of different industries, from Tech to Utilities and Financial Services, with a special focus on digital strategy and operational turnarounds.  A Computer Engineer by training, he started with a technical career owning P&L responsibility in a professional services division, building and leading engineering teams. He holds a Master's degree from Stanford Graduate School of Business and a Computer Engineering degree from Universidad Complutense de Madrid. Highlights from the Show Juan came to Insurance from consulting in Silicon Valley, and admits he didn't realize how much he didn't realize that justified the sense some have of the industry being behind, like not knowing the cost of the goods you're selling when you sell it He also found that we spend a lot to bring customers in, only to decide they're out of appetite, especially in the direct channel, where his carrier work focused Serving as COO of Hiscox UK, he focused a lot on the expense ratio, but worked on driving up premium per underwriter rather than cutting costs, which he sees as less sustainable or impactful He found getting the data you really need to do this is hard, like where underwriters spend their time or lose it Once you had the data, you had limited tools to deliver on what you discovered, like how to identify the right risks quickly and then get them to the right underwriters Juan sees a growing focus on the end-to-end workflow of underwriters, much like how manufacturing transformed in the Industrial Revolution New tools enabled the flow of work and automation New energy enabled speed and deploying tools that weren't possible before Automation allowed the new fuel and tools to push product through the system This is actually very similar to how underwriters work, and we're in the midst of the same type of drivers coming online New tools, like AI and Gen AI New fuel, meaning better internal and external data New ability to deploy automation that didn't exist before, so risk can flow (which is the idea behind Cytora's podcast that Juan hosts, called Making Risk Flow) This is a moment where underwriters can rise above the transaction to focus on macro-level issues and engage with brokers In the mid-market area that Juan and Cytora focuses, he talks about 10 Click Underwriting This is about using tools to remove the excessive number of steps and handoffs internally so risks can come in and be quoted within hours instead of days or weeks This includes using third party data and artificial intelligence to take in submissions, analyze and prioritize them in conjunction with a rating engine, to present prioritized opportunities to underwriters with the transactional work done for them When it comes to AI, Juan is interesting in enabling both the early adopters and those who are on the sidelines, unsure of what to do You need to have the right controls and safeguards, like not sending proprietary data to the LLMs to protect carrier's IP LLMs allow carriers to overcome historic roadblocks to digitization, with three examples he shared: Ingesting submissions from brokers and taking the insights from them without having to train models on hundreds or thousands of examples Mapping data, once extracted, so your internal systems can understand, like taking in varied occupancy reports in a way that informs a rating engine and record of risk system without a person having to make sense of it Bring together UW guidelines and the book of business to help guide underwriters on how to handle a specific risk – something you'd need years of coaching, shadowing and training to achieve otherwise Juan thinks the horizon for adoption of AI is different from past technology like IoT because the benefits aren't theoretical, they're real, tangible and demonstrable, so he believes the industry will move faster here This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Jean-Christophe Garaix, Head of Agriculture & Parametric Insurance for Liberty Mutual Reinsurance, and Andy Thompson, Co-Founder & CEO of Safehub, join the show to discuss their collaboration on addressing earthquake exposure. Using Safehub's IoT sensors, they've been able to design a parametric insurance product that's live in Mexico City – one of the most quake-prone areas in the world – that brings building-specific shake accuracy to the adjusting of claims. This allows for an affordable coverage that can be provided quickly while solving for the basis risk inherent in previous earthquake data like shake maps. Together, they're working to create great resiliency through the network effect of improved and more point-specific data coming together to paint accurate pictures of risk and how it plays out. Highlights from the Show Jean-Christophe (JC) Garaix oversees the parametric business for Liberty Mutual Reinsurance, looking for external / third party index for the basis to adjust a risk Andy Thompson, co-founder of Safehub, is a structural earthquake engineer by background who became acutely aware of the lack of individual-building performance during earthquakes and other shaking events, and sought to create a sensor-based solution that's easy to deploy to solve this Existing tools are about regional effects, which are helpful for municipalities or disaster response efforts, but not useful for a specific building, where the impact of one building could be completely different to that of a neighboring building Smarthub has been working with many building owners for years to help with business continuity, maintenance and general management of their properties, but thought this could increase resilience by solving the basis risk issue JC talked about by partnering with an insurer The size, simplicity and stand-alone nature of Safehub's solution allowed Liberty Mutual to extend a coverage like this to smaller insureds in addition to their large property clients For parametric coverage to succeed, JC jokes that you need education, education and education Liberty is looking at similar solutions for other types of events, like cyclones where there is broad-brush data, but they need to measure the wind speed at a specific location to offer coverage for an individual property Today, the issue is less about data availability (which was the issue a decade ago), and more one of product design A barrier to adoption of the kinds of sensors that allow for solutions like this has been the complexity of installation, making the commercial market more attractive for such products Bringing asset-specific data in a bigger network allows for more resiliency and protection by enabling parametric and other innovative products that can close protection gaps, offer cover options This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Nick and I sit down once again to talk about all the things on our mind. We recorded this in the hotel the morning after ITC 2023 ended, so we recap the event a bit, talk about insurability in Florida and how the rest of the nation is likely to follow that state, Hurricane Otis and more. As always, Nick is a source of a ton of knowledge, perspective and new thinking on what is and what could be for our industry. Highlights from the Show Nick is the Managing Partner of Insurance Nerds, and has just co-founded the Insurance Advocacy Forum of Florida It is an alliance of carriers, brokers, reinsurance brokers, insurtechs, claims professionals and more to advocate for and promote a healthy, stable insurance market Efforts in Florida will be important for the rest of the country since it's generally been a few years ahead of where the rest of the country has ended or will end up given the changing loss patterns driven by climate change and liability costs You need the conditions in place for risk capital to come in and the regulatory structure for the flexibility to use that capital efficiently and effectively and to drive the innovation needed to create product options for consumers to be able to afford to buy coverage and for carriers to be able to afford to offer them At ITC, Nick saw a lot of GenAI talk, but the substance behind it wasn't always there This is driven by the need to compete for airtime and investor attention when GenAI is so hyped up in the conversation ITC has so much going on thematically that it's hard to say what the single theme of the event is It's really more of a networking opportunity given the concentration of people you need to see all being together, though the logistics of seeing so many people when you're running around and being grabbed by people who want to talk is tricky Nick also saw a lot of private meetings rather than trying to fight through the crowds, including bringing people into town since so many of the folks they'd need to talk to are there anyway Outside of ITC, Nick has had conversations with several mutuals who are seeing a need for E&S paper to take advantage of risk opportunities that their strict, admitted underwriting guidelines won't allow them to write Insurance only works at scale, so finding ways to stay viable as a business if you have to contact too far could be a real risk for carriers who are left with pulling out of markets as the only tool in their tool box Hurricane Otis went from Tropical Storm to Cat 5 Hurricane in just 12 hours, which is incredibly rapid This puts pressure on modelers to be able to accommodate for and predict that behavior This was also a strong example of the power of good building codes; Acapulco was built to withstand earthquakes given that this is the main CAT exposure the area faces, so a Cat 5 hurricane basically hollowed out the buildings there because they were only built to stand up to tropical storms Floridian buildings are increasingly built to Cat 5 standards, especially in South Florida, so Nick believes the same storm in Florida would have left the buildings able to reopen within days instead of the extent of rebuilding needed This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Tanguy helps companies build out their digital capabilities to deliver rapid results and sustained growth. He leads the McKinsey Digital hubs across North America and Mexico. Until recently, Tanguy shepherded the firm's property and casualty insurance work in North America. In his client work, Tanguy helps leading global financial-services firms with analytics transformations, digitally enabled business model transformations, and core-technology-modernization programs. He also serves insurance clients more broadly on issues ranging from strategy and organization design to claims and underwriting. In addition to his client work, Tanguy frequently contributes to industry publications and authors reports, and white papers on issues confronting the insurance industry. Through his undergraduate and graduate studies, Tanguy was a Siebel scholar and Fulbright fellow. He is a trustee of Carano for Children, a former member of the MIT Sloan alumni board and of the Massachusetts chapter of March of Dimes, a non-for-profit organization that works to improve the health of mothers and babies. Highlights from the Show Tanguy is a Senior Partner at McKinsey & Company, working in their Insurance practice, and co-leads their digital practice, which covers such important things as AI McKinsey is talking to insurers, car makers, regulators and others around the concept of mobility Current Auto insurance products were designed for an industry in decline, where combustion cars without sensors or data are being replaced by things that look similar, but are fundamentally different, which means the existing products aren't going to be fit for purpose We're at the early stages of that transition, but this is when carriers should be thinking about how to respond They see a world in the not-too-distant future where 30% of mobility will be ride-sharing, 50% of vehicles will be Evs, and that has profound impacts on Auto insurance As evidence of this, look at the very high take-up rate for Tesla Insurance where it's available The pace of change will be slower than some say given that the car fleet needs to change over to newer vehicles with new capabilities Distracted Driving is working against the improvements in loss reduction faster than safety tech can lower it, so losses are increasing despite more tools to combat them You will see more partnerships amongst those who succeed, while those less open to partnership will struggle When it comes to AI, Generative AI is not just a buzzword, but is a real disruptor that will have tremendous impact because it's about content creation, which AI has never been able to do before Generative AI can tackle the one thing robots or computers couldn't – empathy at a human level Given that delivering insurance service is a moment of empathy, that means GenAI can be profoundly impactful in insurance in a way that no other technology could be The technology and training the models isn't the hard part of this, but culture, change management and getting the data available cleanly in the cloud is the hard part The dynamics have and are changing so much that Tanguy observes that the industry seems to be losing relevance, as shown by declining rates of CAT losses covered by insurers, which has dropped over time He sees the solution being around the massive unlock of moving from protection to prevention, which changes the importance of what we do With the support of investors behind insurtechs working on solutions and carriers willing to collaborate, there is hope Interestingly, while there was fear that Big Tech was coming for Insurance, they are so critical to cloud-based solutions that they can also be part of this collaborative effort   This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Ema Roloff is a passionate educator and digital transformation expert with a unique background in teaching and over a decade of experience guiding companies through their digital evolution. She is the co-founder of Roloff Consulting and the Host of Leading Change. Ema has received prestigious awards and accolades, including the RISE 35 under 35 Award and recognition as an Industry Influencer by InsurTech Hartford. Ema's diverse experience spans various industries, enabling her to identify patterns and facilitate insightful discussions that transcend industry boundaries. With over 300 expert interviews conducted in Digital Transformation and Innovation, Ema is a trusted voice in the field. Highlights from the Show Ema and her husband run a sales consulting firm called Roloff Consulting for companies in the insurance space to help companies sell the way people want to buy, using education and digital channels At ITC this year, Ema has seen A change from just talking about the hot, trending topics like GenAI, and trying to get into practical ways to take advantage of the tech A meaningful use of AI as an example was what IRYS did to use in-context support for agents driven by the data IRYS has on the agency's business to support things like marketing activities and book management This was only possible because of the way the data model behind the solution has been contemplated with tools like this explicitly in mind Ema also was engaged in a panel about attracting and keeping new talent Updating tools and processes can make the industry more attractive to new comers to the industry Reverse mentorship is another way to help the industry do better at meeting the needs of new or different talent than we've ever had, and broaden the understanding of more senior people in the industry   This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Tim Hays has spent the last couple decades leading digital transformation efforts for pharmaceutical & manufacturing companies. With a track record of over 30 successful full-life-cycle ERP implementations, he has been constantly at work transforming companies through technological innovation & business intelligence. Tim is currently Vice President & CIO of Mountain West Farm Bureau & 360 Insurance companies where significant digital transformation is being enabled by the implementation of the Guidewire Cloud Insurance Suite, and multiple cloud ready platforms. He currently lives in Colorado & Wyoming with his wife of 26 years and their children. Outside of really enjoying his work, if it involves gasoline or gunpowder, he's probably into it! Highlights from the Show Tim has done ERP modernization projects 34 times across different industries, and he sees them being the same despite the context being so different Scope, budget, time all seem to be problematic, where we run out of money, cut scope or need more time when we get to the end of the project Tim sees this as a fundamental failure of project management starting in the first 90 days rather than happening at the end Projects that don't finish on time as a surprise didn't know half way through that they didn't have enough runway to finish the second half, which means they don't know what a days work looks like Mountain West setup weekly steering committee meetings so they could make decisions at speed once While they finished the work in 12 months, because of the past failed attempts, they wanted to take time with testing and release to ensure people were comfortable and had trust in what came out To deal with the desire to customize the solution to look like what they always had, Tim said, "I don't care what you don't like, but I really care about why it won't work, and then we need to address that" You have to make decisions at speed, once. Rework kills you. The way you do this is in how you organize the project That means having the right people in the project – people who are painful to lose from the business Having these people gets you the right insights about what the system needs to do, and forces you to move fast because you can't afford to keep them out of the business for years on end Don't ask people what they want since they'll just tell you what they already have, but new They demoed new development early and often, and there were no contractors doing the demoes so Mountain West's people owned what was being built and grew more and more comfortable with what they were putting out The way they went about this resulted in a system that has allowed 70% straight through processing (from 0% before), writing 50% more business with fewer people They're more efficient, but it's really about how much faster they are now, moving from taking 3-5 days for a policy change to minutes Making product changes and updates in a single sprint (30 days) instead of 6 months (at best) Ultimately, they can make better decisions with better information in the moment This episode is brought to you by The Future of Insurance Volume III. The Collaborators, part of the Future of Insurance thought leadership series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Patrick G. Schmid, PhD is an economist and the President of The Institutes' RiskStream Collaborative—a risk management and insurance blockchain & emerging technology consortium. He works with RiskStream's member-led governance boards and oversees RiskStream's products, relationship management, operations, and technology workstreams. Dr. Schmid offers blockchain and emerging technology thought leadership for The Institutes and coordinates the RiskStream's consortium of insurers, brokers and reinsurers with industry participants and technical partners in developing production applications that can lower costs, improve customer experience and drive efficiency across the insurance industry. Patrick was the 2018 recipient of the International Insurance Society's Leaders of Tomorrow award. Dr. Schmid formerly served as the head of The Institutes' Enterprise Research department, where he led a teams of data architects and researchers in developing analytical solutions and market insights. He has also served as the Director of Research for the Insurance Research Council (IRC), a division of The Institutes. In this role, he led efforts to study public policy-related insurance issues, published these research efforts in academic journals and testified on these findings in front of regulators. He has a MA and a PhD in economics from Temple University. He has taught economics and finance at several Philadelphia-area colleges and universities (Albright College, Drexel, Saint Joseph's, Temple, Wharton, etc.). Prior to working in the insurance industry, he worked as an economist for Moody's Analytics, monitoring various economic indicators, creating forecasts and blogging on monetary policy. Highlights from the Show RiskStream is part of The Institutes, which most people will know from their CPCU program and Society RiskStream is setup as a collaborative, which is central to what it's trying to do around bringing the industry together Multiparty business processes enabled by technology so different organizations can exchange data into their disparate systems efficiently and easily to facilitate smoother transactions RiskStream started looking at different use cases that would be applicable, and the first they identified was net settlement in subrogration, and found that a handful of top 10 insurers were already building solutions internally, and one, Liberty Mutual, donated their solution to the collaborative to help move the industry forward This lead to RiskStream's RapidX solution The real value for these solutions really tends to come from the network adoption rather than what any one company gains, so you generally should want broader, easier adoption rather than a single player trying to own it outright RiskStream allows for the scaling of the network effect by getting several players together in a way they can feel safe doing because it's a non-profit, non-competitive body Bringing together so many carriers also allows RiskStream to take in learnings and needs of a wide range of players so that solutions can be more robust than any one of them might design on their own While they've started with a subrogration example, they've also been developing other areas to apply a multiparty solution, including Surety This episode is brought to you by The Future of Insurance Volume III. The Collaborators, part of the Future of Insurance thought leadership series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

David J. Glawe is the President and Chief Executive Officer of the National Insurance Crime Bureau.  Mr. Glawe is responsible for leading a united effort of property-casualty insurance companies, law enforcement agencies, car rental companies, and other strategic partners to prevent and combat insurance fraud and crime.  Mr. Glawe oversees the operational and intelligence capabilities of NICB employees who are deployed in eight regional offices throughout the United States and Mexico.  Prior to joining NICB, Mr. Glawe served as the Under Secretary for Intelligence at the Department of Homeland Security.  He was nominated by the President of the United States and received unanimous confirmation by the Senate.  Prior to his appointment, Mr. Glawe served as Special Assistant to the President of the United States for Homeland Security, and as the Chief Intelligence Officer and Assistant Commissioner at U.S. Customs and Border Protection.  Mr. Glawe also served in the Office of the Director of National Intelligence as Deputy Intelligence Manager for Threat Finance and Transnational Organized Crime, and subsequently on the President's National Security Council.  Earlier in his career, Mr. Glawe served as a Supervisory Special Agent with the Federal Bureau of Investigation, a Federal Agent with the United States Postal Inspection Service, and a Police Officer in Houston, Texas, and Aurora, Colorado.   Mr. Glawe's numerous honors include the Central Intelligence Agency Warren Medallion and Citation, the Department of Homeland Security Distinguished Service Medal and Citation, the National Intelligence Superior Service Medal, and the Department of Justice Meritorious Public Service Award.  Mr. Glawe achieved a Bachelor of Arts in Behavioral Science degree from the University of Northern Iowa and certificate from Harvard University. Highlights from the Show Dave has an almost-30 year career in law enforcement and national security, including serving as the Undersecretary of Intelligence in Homeland Security of the United States, an FBI agent, terrorism agent and a local police officer The NICB sits between insurers and state, local and federal law enforcement to identify criminal networks committing crimes that impact insurers and ultimately drive rates up for the public Fraud is different today. All criminal organizations are driven by money, and the path of least resistance to exploit opportunities to make financial gains are what drives their actions. The evolution of the collection of intelligence and data and using algorithms and tools that are tailored to identifying the networks perpetrating crime When looking at ML, AI, Generative AI, etc, and the possibilities they have to drive more fraudulent claim activity, Dave reminds us to look at what nation states have been doing and the training they're giving to bad actors This episode is brought to you by The Future of Insurance Volume III. The Collaborators, part of the Future of Insurance thought leadership series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

SG leads the Innovation and Digitalization team at American Modern, the US P&C subsidiary of Munich Re. In this role, he is accountable for delivering on the company's Digital strategy and roadmap as well as the long- term Innovation agenda with a focus on transforming the way we do business. He is also the Business Sponsor for American Modern's strategic digital transformation initiative. In addition, SG is driving a culture of innovation in the organization with a focus on customer experience, experimentation, and learning. His team focuses on key market trends like the disruption of the insurance value chain, Internet of Things, and AI- driven customer experience capabilities. He is an Innovation Executive in the global Munich Re innovation team and engages with insurtechs to accelerate the pace of innovation within American Modern and Munich Re. SG started with American Modern in December 2014 as the technical program lead on the Business Transformation program. In this role, SG was responsible for the operational delivery of the new AMsuite system. He transitioned into his current role in August 2017. Prior to American Modern, SG has over 20 years of experience in varying management positions spanning tactical technical execution to strategic business roles, in small startup companies to a Fortune 500 organization. He has worked in various industries including technology, healthcare, and consulting. Over the past 10+ years, he has served in various senior management positions focused on innovation, product management, strategy and delivery. He holds a degree in mechanical engineering from India and an MBA from University of Phoenix (USA). He resides in Cincinnati with his wife, two daughters and a ‘labradoodle' dog. Highlights from the Show American Modern, part of Munich Re, is a Personal Lines Specialty carrier, focused on risks standard carriers don't tend to write like manufactured, vacant and vacation homes; boats, RVs, collector vehicles, etc. American Modern is on their second major transformation, with the first being almost a rebuilding of the entire company to enable the second transformation they're working on today They had 60 products, with different versions of each one in each state Multiple core systems Different agent agreements and commission structures Multiple writing companies to manage all of this across This all made change to difficult, even for simpler ones The decision was to change everything, meaning revamping the entire org from the ground up, in what they refer to as an inside-out transformation 1 technology platform (Guidewire) 1 underwriting company Clean up the products and processes, and move to just 11 products 1 commission structure for all agents The biggest change was the people part because everything every employee did would be impacted This took 8+ years, starting in 2013/2014, which meant it was started by one CEO and persisted in by a new CEO The new transformation they've recently begun is to move their operation to the cloud and digitizing everything external to the company In hindsight, some changes or things they'd do differently Go to the Cloud from the start (which wasn't an option when they did the first transformation) Planning for the go-to-market much earlier, recognizing the complexities in launching in each state despite what seemed to be the same across states, which they pivoted early to doing but would have done from the start looking back While they did change management internally, they learned how important it is, and upped their game in that respect in the second transformation Lastly, don't outsource your transformation, absolving yourself of responsibility to do it or knowledge of what's been done, so be sure to balance in-house and consultant resources This episode is brought to you by The Future of Insurance Volume III. The Collaborators, part of the Future of Insurance thought leadership series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Theresa Blissing has more than 15 years experience in the insurance industry both in Europe and Asia. Excited by the first signs of change in an industry typically resistant to change, she followed her passions into technology and big data after working with Italian insurer Generali for 10 years. Theresa is responsible for some of the first academic research into the adoption of Big Data into the Southeast Asian insurance business. Prior to starting Accelerating Insurance, Theresa worked with a German management consultancy as Asian Insurance Lead. As a well-recognized expert in the field, her advisory practice now brings to bear a deep knowledge of the InsurTech landscape in Asia and a fundamental understanding of upcoming trends, innovations and new technologies with the experience and know-how for applying it to incumbents. She is also the Founder of the Asia InsurTech Podcast and InsurTech Amplified. Theresa wrote the new book, The Future of Insurance, Volume IV. Asia Rising, as the latest entry in the best-selling Future of Insurance series. Highlights from the Show Theresa comes from an insurance background, with parents who were agents, and her own career having started at Generali She spent some time in Asia for Generali, and then decided to move there in 2015 after being fascinated by the activity in the region, and the developments and possibilities in insurance there While there, she founded the Asia InsurTech Podcast, and recently started another with co-host Michael Waitz, called InsurTech Amplified. For more on her background, you can hear the first time she was on the show in Season 1, Episode 13 Theresa joined the show to share the news that she has written a new book in The Future of Insurance series, volume 4, which is all about startup activity in Asia, and it will be released on October 17th, 2023 (and is already available for pre-order on Kindle) Her aim was to tell the story of different types of startups in different countries and situations, including stories in Hong Kong, Singapore, Japan, Indonesia and India The companies profiled through first-hand accounts, often written through interviewing the company founders, are: YAS OneDegree Tune Protect bolttech Qoala PhonePe Ping An Habitto One of the things that makes many markets in Asia so interesting for starting an insurance company is how low the penetration and knowledge of insurance is, which forces you to rethink how you enter and grow in the market Embedded insurance comes up very often in the book because of this, including in the case about Qoala, YAS and bolttech Japan is profiled through the case of Habitto, where the issue of an aging population, and a young generation that hasn't been focused on or served creates lessons that many other developed markets are or will soon be facing, like the US and Europe There are three major takeaway lessons that applied across all of the cases and have value to people in different situations, markets and companies: Build a customer-focused business Many insurers are product-centric, thinking about their offering and how to market and run it successfully, rethinking this to start from the customer and their needs leads you to then see how insurance might fit into that equation – or not – which then informs the options available to you to move ahead Embrace change Don't just be open to change, but when things don't go as planned or don't work out, rather than ignoring the failure or looking to blame someone, take learnings and lessons from the experience to do better next time or have more insight about what customers really want (or don't want) Leverage the power of partnerships Ecosystems is a buzzword going around a lot today, but carriers often see themselves at the center of the ecosystem with others buzzing around them, but that's not always the ideal way to do it You can't be good at everything, so you need the right partners to support your goals This episode is brought to you by The Future of Insurance Volume IV. Asia Rising by Theresa Blissing, part of the Future of Insurance thought leadership series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

In this episode of Making Risk Flow, host Juan de Castro sits down with Bryan Falchuk, the President and CEO of Property & Liability Resource Bureau, and David Gritz, the Co-Founder and Managing Director of InsurTechNY. Drawing upon research gathered from the Insurance Collaboration Index, the trio discuss the impact collaboration can have in the insurance industry. Juan, Bryan and David also cover key lessons for nurturing successful partnerships, why it's important to maintain a transformative mindset, and enlightening case studies that can be replicated. To discover out more about digital risk processing, click here.Our previous guests include: Bronek Masojada of PPL, Simon McGinn of Allianz, Richard Coleman of Ecclesiastical, Steven Wilkins of Hiscox, Matthew Grant of InsTech, Philippe Lutgen of Howden, Paolo Cuomo of Gallagher Re, and Thierry Daucourt of AXA.Check out the three most downloaded episodes: The Five Pillars of Data Analytics Strategy in Insurance | Craig Knightly, Inigo 20 Years as CEO of Hiscox: Personal Reflections and the Evolution of PPL | Bronek Masojada Implementing ESG in the Insurance and Underwriting Space | Simon Tighe, Chaucer, and Paul McCarney, Moody's

Tony chats with recurring guest Bryan Falchuk, CEO at PLRB about his reinvigoration of PLRB. They are a claims advisory organization that provides a myriad of resources to claims professionals at member carriers in the US. 80% of premium in the US is handled by PLRB members and PLRB supports them in making sure the coverage is delivered correctly. They provide weather data, building codes, coverage advice, and much more that can save your carrier a ton of money. They also host fantastic claims conferences and Bryan is working on revolutionizing how everything gets delivered so that it's easier to find for the members.Bryan Falchuk: https://www.linkedin.com/in/bryanfalchuk/PLRB: https://www.plrb.org/YouTube Version: https://youtu.be/1HpTqXOrXm8

Five-time best-selling author and insurance/insurtech executive Bryan Falchuk joins Tony on Profiles in Risk, to talk about his latest book: The Future of Insurance Vol III - The Collaborators. There's just so much to say about this episode, I just can't make it justice. Just listen to it, you won't regret it!Bryan Falchuk: https://www.linkedin.com/in/bryanfalchuk/The Future of Insurance Series: http://future-of-insurance.com/Video Version: https://youtu.be/MR97A-d0HNA

David Gritz, co-founder and managing director at InsurTech New York, and Bryan Falchuk, founder and managing partner at Insurance Evolution Partners, discuss the dynamic roles of different players in the insurance ecosystem. David and Bryan also give useful tips for founders to effectively manage the landscape and be successful.In this episode, you'll learn:4:32 Are insurtech startups effectively paying the insurance industry's huge technology debt?9:50 Why there shouldn't be a divide between incumbent carriers and startups15:34 Innovation and value creation in insurance is possible when startups and incumbents collaborate.22:24 InsurTech NY's role in the evolution of insurtech26:36 What are startups and insurance companies doing to prepare for the future?The non-profit organization that David is passionate about: Female Founders in FinTech FoundationAbout David GritzDavid Gritz is a co-founder and managing director at InsurTech New York, working to build NYC as the global hub for InsurTech activity. He previously served as the Innovation Director at SVIA and led product for Zero, a loss control InsurTech acquired by EverestRe.About Bryan FalchukBryan Flachuk is the founder and managing partner at Insurance Evolution Partners and the President & CEO of The Property & Liability Resource Bureau (PLRB). His other roles include: mentor at InsurTech New York; an innovation, motivation & success expert; insurance thought leader; 4x best-selling author and 3x @TEDx speaker.David and Bryan are both co-authors of a book series called ‘Future of Insurance'.About InsurTech NYInsurTech NY is a resource center for the insurance innovation community in the New York metropolitan region and beyond. Its mission is to help support the insurance industry take advantage of the latest digital technology to improve efficiencies and increase revenue, and be ready for the inevitable digital transformation. They do this through their public events, corporate innovation program, competition, accelerator, MGA lab and the venture fund.About Insurance Evolution PartnersInsurance Evolution Partners is an insurance consultancy that  advises carriers and their partners on how to navigate an evolving industry facing disruption and change.Subscribe to our podcast and stay tuned for our next episode. Follow Us:  Twitter | Linkedin | Instagram | Facebook