The Future of Insurance – Joseph Ziolkowski, Founder & CEO, Relm Insurance

Episode Info

With nearly 15 years of insurance industry experience, Joe Ziolkowski has navigated both US and non-US regulatory environments in the establishment of Property & Casualty and Life insurance company infrastructure.

In 2019, Joe founded Relm Insurance, Ltd. the first insurer licensed under the Bermuda Monetary Authority’s new “innovation” framework. Under his leadership, Relm has become the leading insurer to companies operating in the digital asset/Web3 space and has provided insurance to companies in more than 35 countries around the world. Relm has pioneered the development of innovative insurance products including coverage for staking/slashing events, property exposures for Bitcoin miners, directors and officers liability insurance for token issuers and smart contract failure.

In 2024, Joseph spearheaded Relm’s expansion into the MENA region through a strategic partnership with Liva Group, enabling the launch of tailored insurance products for businesses in the Web3, AI, and space economy sectors across the UAE, Bahrain, Oman, Saudi Arabia, and beyond. Relm now operates through its Dubai-based affiliate with a Category 4 license from the Dubai Financial Services Authority (DFSA), and approval by the Central Bank, marking a pivotal step in the company’s global growth strategy. This move reinforces Relm’s position as a go-to insurer for emerging industries underserved by traditional insurance markets.

Joseph holds a BS in Management & Business from Skidmore College and carries the CPCU (Chartered Property Casualty Underwriter) and Associate in Underwriting Management designations from The Institutes.

Episode Overview:

1. Foundation and Vision of Relm Insurance:

   • Relm Insurance was founded to address the gap in the insurance industry for innovative sectors. Joe emphasizes the company's vision of making innovation resilient.

2. Challenges in the Insurance Industry:

   • The episode discusses the slow pace of innovation in the traditional insurance market and the need for companies like Relm to support emerging sectors.

   • Joe highlights the challenges of underwriting for new and innovative sectors, which require a unique approach.

3. Relm's Approach and Strategy:

   • Relm's strategy involves deep engagement with clients to understand their needs and tailor insurance products accordingly.

   • The company uses its differentiated risk appetite to support sectors like digital assets and advanced technologies.

4. Cultural Insights:

   • Joe discusses the importance of a learning culture at Relm, where employees are encouraged to continuously learn and adapt.

5. Industry Evolution:

   • The conversation touches on the need for the insurance industry to evolve and respond to new economic challenges and innovations.

Conclusion:

• Joe expresses hope that Relm's efforts will push the insurance industry to better respond to innovation, ensuring that insurance remains a key enabler of progress.

• The episode concludes with Joe's optimistic outlook on the future of the insurance industry and the role of companies like Relm in leading the charge.

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.