FNO: InsureTech

Latest Episodes:

Ep 235 - Co-Founder and CEO of Encircle, Paul Donald Oct 06, 2023

Show notes

In this episode, we're diving into the world of technology and innovation with special guest Paul Donald, co-founder and CEO of Encircle. Paul shares his journey from riding the wave at Research In Motion during the Blackberry era to co-founding Encircle, a company with a vision to bring top technology companies together and create a holistic solution. Join us as Paul discusses the fascinating work his company is doing, from driving efficiency to serving customers by harnessing clean data and simplifying the claims process. He talks about the restoration software system itself, what it offers to the marketplace, and how the technology can give simple, clean results that save time and energy.

Learn More:

www.fnoinsuretech.com

EnCircle

Paul Donald LinkedIn

What You'll Hear In This Episode:

[6:54] Intro to Encircle, a software platform focused on field documentation.

[9:51] How the camera and the phone got together.

[11:21] What Encircle offers to the marketplace.

[13:02] The positive attributes of Encircle's visual and tactile-oriented process.

[13:06] Driving efficiency through their digital format.

[16:56] How Encircle's technology can remove bias and human errors.

[20:17] Involvement in the restoration field and what Paul learned after spending 4 months in the field.

[22:33] How does Encircle eliminate or streamline some of the many technologies that are out there?

[23:07] How fragmented the property claims industry is, particularly from a technology standpoint.

[26:28] Encircle's partnerships with data scientists.

[28:48] Trusting data integrity.

[32:12] The software provides educational and remote coaching opportunities.

[32:36] How are the videos stored?

[38:55] What does Encircle do to stand out? Paul talks about their exciting partnerships.

[41:12] Research In Motion.

[43:10] Where can we find Paul and the Encircle team this year?

Ep 234 - Co-Founder and CEO at Rhino, Benjamin Lantos Sep 22, 2023

Show notes

In this episode, we welcome Benjamin Lantos, the CEO and co-founder of Rhino, joining us from sunny Santa Monica to discuss how they're revolutionizing the world of property management, renting, and deposits. Rhino's innovative approach challenges the status quo, exploring how to modernize the entire renting experience for all parties involved. They've harnessed the power of insurance products to address the security deposit dilemma, providing risk mitigation for property managers and renters alike. By seamlessly integrating its technology into various platforms, Rhino is taking the financial burden off management companies and renters, ultimately creating a more flexible and customer-centric landscape for both landlords and property managers. Tune in to learn how Rhino is disrupting the market and reshaping the future of property technology.

Learn More:

www.fnoinsuretech.com

Rhino

Benjamin Lantos LinkedIn

What You'll Hear In This Episode:

[1:38] Be honest…how many of you have a game room?

[6:42] What is Rhino and what do they do?

[7:19] Fun fact: there's almost $45 billion trapped in security deposits across the country.

[8:30] How did they come up with the idea for Rhino?

[12:01] What is the process for a renter interested in using Rhino?

[15:41] More about the most common arrangement that a renter opts for, the deposit insurance program.

[19:24] What does Rhino do with all the data they have been collecting over the past 7 years?

[20:39] How Rhino works to democratize renting.

[24:21] What differentiates Rhino from others in the space?

[24:39] Is Rhino an MGA?

[26:01] Rhino also offers renters insurance.

[27:33] How does the rising price in rentals affect Rhino?

[32:02] Developing an ongoing relationship with their customer and building brand loyalty.

[33:12] How Benjamin made his way to co-founding Rhino by way of financial background.

[37:19] Benjamin identifies Rhino as a property technology company, working to enable a seamless move-in experience for owners and renters.

[38:41] What does it mean to be the Chief Risk Officer?

[40:40] How does Rhino's claims area work?

[45:37] Accounting for what Ben calls the "moral hazards" of claims.

Ep 233 - Chief Growth Officer at Coterie Insurance, Bobbie Collies Sep 15, 2023

Show notes

We sit down with the insurance powerhouse, Bobbie Collies, the Chief Growth Officer at Coterie Insurance where the grasp of her role, her business, and her clients shines through. Bobbie takes us on a journey through Coterie's model, offering insurance agents lightning-fast quotes through automated self-service capabilities, a technology that's continually getting smarter. She unveils exciting plans for 2024 and proudly wears her title of an "insurance nerd." With two decades in and around underwriting, she reflects on how technology has transformed the industry and shares her current perspective on the ever-evolving landscape of disruption in the insurance world.

Learn More:

www.fnoinsuretech.com

Bobbie Collies: LinkedIn

Coterie

Ep 183 with David McFarland

And I Quote podcast

What You'll Hear In This Episode:

[6:28] Why is there so much insurance based out of Wisconsin?

[8:40] Bobbie gives her elevator pitch on Coterie and their mission.

[10:02] Of all the many companies that offer insurance to small businesses and startups, why should they choose Coterie?

[10:58] What will automated self service capabilities look like, and what is My Digital Agency?

[12:32] Who is a good insurer for Coterie?

[13:42] Who is the distribution channel?

[18:42] Bobbie proves that she is an insurance nerd, through and through.

[21:11] Bobbie talks about her role overseeing the underwriting side as well.

[24:47] The push and pull between tech and insurance.

[28:19] For Coterie at the present moment, the demand is greater than the supply.

[30:54] Going to the target market.

[31:19] Coterie's recent deal with ZestyAI.

[33:33] What seems to be the number one concern from carriers?

[34:26] What has changed in underwriting?

[36:03] Is there really disruption in the industry, or is it just meaningful change?

Ep 232 - Founder and CEO of Roof Marketplace, Will Bazeley Sep 08, 2023

Show notes

Get ready to address the YES this week with guest Will Bazeley, the Founder and CEO of Roof Marketplace, a technology company that's changing the way insurance is done when it comes to roofing and roof estimates. In the conversation, Will talks about the ways carriers are using Roof Marketplace, and how they are working to solve a big problem to bring some order to an otherwise potentially crazy area. Will talks about the emerging tech in the roofing industry, and how Roof Marketplace is providing a solution to make the customer experience easier, all while helping roofers get their job done easier and more efficiently.

Learn More:

www.fnoinsuretech.com

Will Bazeley: LinkedIn

Roof Marketplace

What You'll Hear In This Episode:

[7:03] Will joins the show and talks about the path that led him to Roof Marketplace.

[8:00] Is Roof Marketplace a venture backed organization?

[8:32] Roof Marketplace was part of Creative Destruction Lab's first entrance of companies, and a lot of good came out of it.

[9:15] The decision to rebuild Roof Marketplace's whole platform from scratch.

[9:39] So, what exactly does Roof Marketplace do?

[12:07] Why 94% of the insurance carriers that use Roof Marketplace give it a thumbs up.

[16:33] Annually, carriers spend about $20 billion on roof related claims.

[21:14] How much the average roof costs in America.

[24:22] Will talks about their (trademarked) motto "address the yes"!

[26:30] The work stream for a carrier and how the technology fits in.

[27:52] Will talks about where the revenue for Roof Marketplace comes from.

[31:08] Making sure Roof Marketplace has the right roofers and partnering with leading industry partners to make sure they are getting the highest quality professionals.

[35:09] Who makes the decision on which roofer is going to be used?

[45:03] How the service helps homeowners get things done easier and in less time.

[44:26] Will talks about how Roof Marketplace is less a contractor network and more a technology and InsureTech platform.

[46:53] Does Roof Marketplace effect Loss Adjustment Expense?

Ep 231 – Homee CEO & Co-founder, Doug Schaedler Sep 01, 2023

Show notes

In the latest episode of FNO: InsureTech, host Lee sits down with Doug Schaedler, CEO and Co-Founder of Homee. As a leader in the industry, Doug Schaedler brings a wealth of knowledge and expertise that is sure to benefit all listeners. Tune in to learn more about Homee's unique approach to insurance, their services and network; and how they're shaping the way property claims are completed. This episode promises to offer another unique perspective and view into the world of insuretech.

Ep 230 - Senior Director at Simon Kucher, Michael Nadel Aug 25, 2023

Show notes

This week, Lee welcomes Michael Nadel, Senior Director at Simon Kucher and Partners, where he works on the insurance vertical and guides carriers of all sizes through the intricate landscape of insurance. In this episode, Michael talks about some of the hot topics in the insurance world now, including the evolving role of AI in sales and how we can keep that human element alive, along with the strategies insurers employ to tackle the challenges posed by climate change while ensuring profitability. Michael also talks about the importance of listening to your customer base to make sure you are providing the right type of value.

Learn More:

www.fnoinsuretech.com

Michael Nadel: LinkedIn

Simon Kucher

What You'll Hear In This Episode:

[5:02] Michael joins the show and talks about his role at Simon Kucher and what they provide for their clients.

[7:01] The two primary levels at which Simon Kucher helps Insurtech.

[7:53] Michael talks about the importance of listening to your customers and making sure that what you are offering adds value.

[11:35] Are the big carriers still focusing on innovation?

[13:15] Michael covers some hot topics in the insurance industry, starting with how we keep things personalized while AI rapidly evolves.

[18:02] The use of chatbots in the insurance industry.

[20:18] How AI will change the insurance landscape.

[29:33] The current conversation around climate change and insurance.

[33:53] The impact of personalized marketing on the insurance industry. Does a birthday card from our carrier really make a difference?

[37:41] How does a personal carrier compare to a commercial carrier?

Ep 229 - CIO of Alacrity Solutions, Adam Menszer Aug 18, 2023

Show notes

Join us as Rob and Lee sit down with Adam Menszer, the newly promoted CIO of Alacrity Solutions. Adam brings his expertise to the table, shedding light on his multifaceted role and delving into the exciting realm of InsureTech. With a keen eye for innovation, he offers insights into his journey, spanning back to his Alacrity days from 2005. Adam shares his thoughts on the evolving landscape of technology and security, how he and his team navigate the intricacies of buying InsureTech and the conversations he is hearing around the power of AI. At the end of the episode, stay tuned to hear Adam's answers on the pressing questions around both his engagement and the best time for a celebratory crawfish boil.

Learn More:

www.fnoinsuretech.com

Adam Menszer: LinkedIn

Alacrity Solutions

What You'll Hear In This Episode:

[5:42] Adam joins the show and talks a bit about his upbringing.

[9:00] How the industry has evolved and the major changes Adam has seen.

[10:02] How does Adam keep up with all the emerging technology?

[12:59] What does a typical day of Adam's look like?

[15:31] Why does the IT department seem to be thrown under the bus?

[18:01] Some of the challenges Adam's team faces at Alacrity of acquiring so many new businesses.

[19:47] The overhead associated with maintaining the security responsibilities.

[22:20] User behavior is a huge thing, and how they make security a priority for users.

[28:15] What does Adam look for in InsureTech companies he works with?

[32:04] Building the Alacrity mobile app.

[39:04] What are some of the conversations Adam is hearing around AI?

[42:43] Blending a culture together from people with different backgrounds, both personally and professionally.

[43:57] What's up with Adam's 7 year engagement?

Ep 228 - Managing Director at American Family Ventures, Dan Reed Aug 13, 2023

Show notes

Dive into the world of insurance innovation with Dan Reed, Managing Director of American Family Ventures, as he returns as our guest. Dan shares a big announcement: the closing of AFVs fourth fund, showcasing their growth, their approach to raising capital, how it's different from previous funds, and how they're expanding their team and network.

Dan and the crew talk about future predictions and innovations in insurtech and the role of technologies like ChatGPT. Dan also details the Venture Follows program and its impact, and offers those hard hitting questions we all want to know — like why do left-handers seem to have more fun?

Learn More:

www.fnoinsuretech.com

Dan Reed: LinkedIn

American Family Ventures

What You'll Hear In This Episode:

[7:15] Dan comes out of the bullpen to join the show.

[9:43] Not to brag, but Dan's previous episode with us was the only podcast his mother has ever listened to. Check it out HERE.

[10:49] Dan shares his big announcement. He is proud to share that they have closed their fourth fund.

[11:36] How did the process of raising capital go?

[12:34] Having a larger fund allows them to expand the team and the network.

[12:50] Was the reception different for fund four than it was for fund three?

[14:40] The strategic engagement model that is at the heart of investing.

[13:58] How American Family Ventures was able to build out their team and capabilities during the process of investing.

[17:53] What does the platform look like for investors?

[19:45] Is there a focus they've gone after for all funds?

[21:50] What is on the edge of insurtech and what is Dan finding interesting right now in space?

[29:32] Dan talks about his "second bridge" theory.

[35:17] How do we drive efficiency in the insurance process?

[36:22] Why does ChatGPT matter to insurtech?

[38:02] Dan talks about a few portfolio companies including Tire Agent.

[48:42] A non-mathematical way of understanding the power laws of investment.

[51:55] Dan details the Venture Fellows program.

[53:26] Dan and the crew discuss Branch Insurance.

[1:00:12] Has the VC marketplace shrunk around InsureTech? Is it smaller and less sexy than it was before?

Ep 227- VP of Insurance Claims at Auto Club Enterprises, Claudia Rodriguez Aug 04, 2023

Show notes

Join hosts Lee and Rob this week as they embark on an inspiring journey with Claudia Rodriguez, Vice President of Insurance Claims at Auto Club Enterprises, on her actual last day of work before she retires. Claudia shares the importance of straightforward communication in the workplace, and reflects on her trailblazing role as the first woman to occupy this position. Tune in to hear her insights on the evolution of the insurance industry and her thoughts on the crucial topic of social inflation's impact and significance in today's world. Prepare to be inspired by Claudia's remarkable climb from a receptionist in a small claims office to leading a multi-state, multi-billion dollar claims organization.

Learn More:

www.fnoinsuretech.com

Claudia Rodriguez: LinkedIn

Auto Club Enterprises

What You'll Hear In This Episode:

[5:48] Claudia joins the show, on her last day of work after 35 and a half years of work!

[6:47] She may have dreamt of being a water girl for the Cowboys, and roots for the Bruins, but her first job at Auto Club Enterprises was a claims receptionist.

[8:54] Breaking through two barriers: the first homegrown Auto Club person to become VP of claims and the first woman to occupy the position.

[12:00] The beauty of having a straightforward yet pleasant style at work.

[13:01] How Claudia grew to do the job she did one step at a time.

[15:01] Leaving was never in her plans, it was just a matter of doing the best she could for the Auto Club every day.

[16:03] Claudia discusses Strike Force and the importance of leaders listening to their people and understanding what's happening on the front lines.

[19:32] Know your process and your capabilities, and listen to the customer.

[20:34] How has the business changed in 1987 and how have customer expectations changed?

[22:48] The issue of social inflation and why it matters to the insurance industry.

[31:00] The need for more analytics in the industry.

[39:22] It's important to slow down and take time to understand which problem it is that you're trying to solve.

[39:48] The more informed you are, the better you can help others.

Ep 226 – Accelerant Chief Consultant, Heather Wentworth Jul 21, 2023

Show notes

Catch the latest episode of FNO: InsureTech where hosts Rob and Lee chat with Heather Wentworth, Chief Consultant at Accelerant.

Discover how Accelerant's expert team, innovative technology, and dynamic analytics are revolutionizing specialty underwriting for profitable growth. Heather also shares insights from her previous role as Chief Data Officer.

Enjoyed the show? We welcome your guest suggestions at almoss@alacritysolutions.com.

Join us for a deep dive into the future of insuretech!

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