FNO: InsureTech
A podcast that interviews leaders from insuretech and insurance to get up-to-date ideas and perspectives on how technology is disrupting and transforming the industry. We bring stories, trends, and useful insights to our audience from carriers, insuretechs, service providers, and various industry groups. New episodes feature people who are on the forefront of inventing, using, developing, or transforming the insurance world through applied technology. FNO: InsureTech is created and produced by Alacrity Solutions.
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Ep 269: Inside ITC Vegas: Innovation, Networking, and the Future of InsureTech with Bill Harris
09/27/2024
Ep 269: Inside ITC Vegas: Innovation, Networking, and the Future of InsureTech with Bill Harris
FNO Insuretech listeners: Use promo code ITCVFNO200 for $200 off your ITC Vegas registration. Join us for a fun chat with Bill Harris, the Chief Customer Officer and co-founder of InsureTech Connect, as we dive into the exciting world of the upcoming InsureTech Connect Vegas (ITC Vegas) conference! Bill gives us the scoop on what attendees can look forward to, including cool new features, tailored programs, and those ever-popular networking opportunities. Bill shares how he helps make the massive conference feel cozy and manageable for everyone. From its startup-centric beginnings to now hosting industry giants like Salesforce, the ITC Vegas conference has become the ultimate gathering for insurance innovation. But don’t worry, startups are still the stars of the show with their own kiosks, while big tech, consulting firms, and solution providers join the mix. The event strikes a perfect balance between cutting-edge technology and the invaluable human touch of brokers and agents. With more young people and women joining the ranks, it’s clear the demographic is evolving. Plus, there are webinars, AI-powered session summaries, and a handy mobile app for networking and planning your schedule. Tune in for insights from Bill Harris and get ready for an exciting ride into ITC Vegas and the future of insuretech! FNO Insuretech listeners: Use promo code ITCVFNO200 for $200 off your ITC Vegas registration. Register at: Key Highlights: Introduction to the ITC Vegas conference and its significance in the insurance industry. Overview of the new features and curated programs at this year's event. Details on the State Farm Startup Pitch Competition and its impact on startups. Insights into the unique networking opportunities and thematic experiences like the space theme for 2024. Discussion on the diversity and demographic shifts observed at ITC events over the years. FNO Insuretech listeners: Use promo code ITCVFNO200 for $200 off your ITC Vegas registration. Quotes: "ITC Vegas is the insurance conference to go to—it's where if you're in the insurance world, you go to ITC." – Bill Harris "We've created these neighborhoods in the expo hall to help people find exactly what they're looking for more efficiently." – Bill Harris "Our focus is on making sure attendees have a great experience and find value in every aspect of the conference." – Bill Harris
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Ep 268: Transforming Insurance: Carpe Data's Max Drucker on Data and AI Innovation
09/13/2024
Ep 268: Transforming Insurance: Carpe Data's Max Drucker on Data and AI Innovation
In this episode, Rob and Lee chat with Max Drucker, CEO and founder of Carpe Data, about the evolution of data usage in the insurance industry. Max shares insights into how Carpe Data harnesses innovative data products to automate decisions and predict insurance outcomes. From exploring the value of alternative data sources to discussing how AI and machine learning are revolutionizing the space, this episode offers a deep dive into the future of data-driven insurance solutions. Key Highlights: Introduction to Carpe Data and its mission in the insurance industry. The company’s journey from inception to Carpe Data’s current focus areas. How Carpe Data leverages AI and machine learning to process vast amounts of data. The benefits of data automation and prediction for insurance carriers. Real-world applications of Carpe Data’s solutions in detecting fraud and improving underwriting. Discussion on the competitive landscape and Carpe Data’s unique positioning. Quotes: "Carpe Data is a data company through and through. We make data products specifically for insurance carriers." – Max Drucker "Insurers are the original data scientists, predicting outcomes for literally centuries." – Max Drucker "We’re looking to create something that’s unique and provides a selection advantage for carriers." – Max Drucker “Predicting outcomes and using this type of information to predict outcomes is what carriers want.” – Max Drucker
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Ep 267: Creating Seamless Insurance Solutions with Sivan Iram of Flow
08/30/2024
Ep 267: Creating Seamless Insurance Solutions with Sivan Iram of Flow
In the latest episode of FNO: InsureTech, we sit down with Sivan Iram, Founder & CEO of Flow, to explore Flow’s role in the wholesale insurance brokerage industry. Sivan shares his unique insights into blending advanced technology with human expertise to provide unmatched service. Discover the significance behind Flow’s recent rebranding from Capitola, and gain valuable perspectives on AI’s role in enhancing broker workflows. Key Highlights: The inspiration and reasoning behind rebranding Capitola to Flow Specialty. How Flow combines human expertise with cutting-edge technology for superior brokerage services. The significance of AI in optimizing broker workflows and decision-making. Insights into Flow’s focus on customer-centric service using a balanced approach between technology and human touch. The impact of strong investor partnerships, including Munich Re Ventures, on Flow’s growth and credibility. Quotes: "To me, the vision of developing an internal culture and service that puts our stakeholders in a state of flow is paramount." —Sivan Iram "AI is not what you do; it’s how you do it. It’s a different way to think about digitizing knowledge and making it accessible to brokers." —Sivan Iram "The magic in life, as in business, is balance—combining human expertise with technology to outperform and better serve our clients." —Sivan Iram "We are a wholesale broker, but we operate in a very technological manner under the hood to deliver better service for our clients." —Sivan Iram References: Flow Specialty: flowinsurance.co Munich Re Ventures: munichre.com Lightspeed Venture Partners: lsvp.com
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Ep 266: The Future of AI and Insurance with Marc Fredman of CCC Intelligent Solutions
08/23/2024
Ep 266: The Future of AI and Insurance with Marc Fredman of CCC Intelligent Solutions
FNO: InsureTech welcomes back Marc Fredman, Chief Strategy Officer at CCC Intelligent Solutions, for his third appearance on the show. As one of the largest and experienced drivers of data in the insurance industry, we’re excited to dive back in and hear what CCC is all about. Marc shares insightful updates on CCC’s latest advancements, including the role of AI in claims processing, the concept of Intelligent Experience (IX), and much more. Tune in today for a great discussion. Key Highlights The evolution of CCC Intelligent Solutions and its impact on the PNC insurance economy. Marc’s role as Chief Strategy Officer and his vision for the future of customer-centric technology. The integration of AI in claims processing and its transformative potential. Introduction to the concept of Intelligent Experience (IX) and how it fuses customer, employee, and business metrics for optimal outcomes. Practical examples of AI applications in claim prediction, subrogation, and overall system management. Future trends and the inevitable advancement of AI in the insurance industry. Quotes "Technology still has to be able to provide a real bottom line benefit for the people that use it." – Marc Fredman "With intelligent experience and the stuff that’s now possible with AI, you don’t have to choose among those things." – Marc Fredman "We are at diminishing marginal returns in terms of the old ways of thinking for technology." – Marc Fredman "An intelligent experience is one that just works." – Marc Fredman
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Ep 265: Beyond the Finish Line: Olympic Passion and Insurance Parallels with Rob and Lee
08/16/2024
Ep 265: Beyond the Finish Line: Olympic Passion and Insurance Parallels with Rob and Lee
With the 2024 Summer Olympics having come and gone, Rob and Lee discuss their enthusiasm for the Olympics and its events they enjoy in their latest short. They share their national pride and support for international athletes while drawing parallels between the cooperative nature of the Olympics and the insurance industry. They mention some of their favorite sports and express their excitement for future events and admiration for the athletes' dedication and hard work. Key Highlights: The allure and unifying nature of the Olympics. Experiencing the Olympics through personal stories. The cultural impact of watching athletes achieve their best. Comparisons between Olympic and insurance industry competition. Insights into supportive competition among insurance carriers. Quotes: "I’ve always loved the Olympics. It’s fascinating to see people who are the best of the best." – Rob Beller "Everyone wants countries to do well. It’s about humanity and support." – Lee Boyd "Insurance is generally a pretty friendly environment." – Rob Beller "The London insurance market was the most friendly, open, welcoming experience." – Lee Boyd References: 2024 Paris Olympics coverage on History of Munich Olympics tragedy in 1972 for tracing ancestry
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Ep 264: Breaking Barriers in Pet Insurance: Insights from Odie’s Founders
08/09/2024
Ep 264: Breaking Barriers in Pet Insurance: Insights from Odie’s Founders
Join hosts Rob Beller and Lee Boyd as they chat with Miles and Zabrina Thorson, the founders of Odie Pet Insurance. Miles and Zabrina share their inspiring journey of transforming pet insurance with customizable coverage options and innovative technology. They discuss the industry's unique challenges and emphasize the importance of having pet insurance before emergencies happen. Tune in to see how Odie is making pet care better and more accessible! Key Highlights: Understanding the fundamentals of pet insurance and its comparison to other types of insurance. Discussion on the demographics driving the adoption of pet insurance, particularly millennials. Insights into Odie’s unique distribution model and its focus on embedding pet insurance in various platforms. The role of technology and data in underwriting and improving the claims process for pet owners. Exploration of the regulatory landscape impacting televet services and pet insurance. A closer look at customizable policies Odie offers to cater to diverse pet owner needs. Quotes: "Pet insurance is really there to cover those unexpected health events, not for routine vet visits.” – Zabrina Thorson “We wanted to empower third-party distribution channels to put this product in front of folks before they face an emergency.” – Miles Thorson
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Ep 263: Redefining Restoration: Albi’s Approach to Efficient Claims Management (feat. Alex Duta, Albi)
08/02/2024
Ep 263: Redefining Restoration: Albi’s Approach to Efficient Claims Management (feat. Alex Duta, Albi)
In this episode of FNO: InsureTech Podcast, we welcome Alex Duta, founder and CEO of Albi, a groundbreaking workflow management tool for damage restoration contractors. Alex dives deep into the inefficiencies plaguing the restoration industry and how Albi leverages technology to streamline processes, reduce administrative burdens, and foster greater transparency between contractors and insurers. Whether you’re a restoration contractor, insurance professional, or tech enthusiast, this episode offers valuable insights into revolutionizing property claims management. Key Highlights Introduction to Albi: Alex explains Albi’s end-to-end workflow management tool designed for the damage restoration industry. Challenges in the Restoration Industry: Discussion on the inefficiencies contractors face and the need for streamlined processes. Technological Innovations: How Albi integrates with various systems like QuickBooks and Twilio to enhance data collection and transparency. Industry Dynamics: The role of managed repair networks and third-party reviewers in the insurance claims process. Future Visions: Alex’s thoughts on the future of technology in the restoration space and improving claim speed and accuracy. Quotes “We’re obsessed over the individuals who show up in homeowners’ homes throughout the toughest times and make their lives so much easier.” – Alex Duta “If we add this layer of complexity, the contractors will find a way because you can’t push on their margins and their time to get paid enough.” – Alex Duta
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Ep 262: Client-Centric Innovation: Transforming Insurance Solutions at Alacrity (feat. Jonathan Miko, Alacrity Solutions)
07/18/2024
Ep 262: Client-Centric Innovation: Transforming Insurance Solutions at Alacrity (feat. Jonathan Miko, Alacrity Solutions)
Jonathan Miko, the CSIO and President of Managed Repair at Alacrity Solutions, is all about connecting with clients on their level. He highlights how their flexibility — thanks to both cutting-edge technology and the human touch — allows them to customize services to fit each client's unique needs. Jonathan dives into the story of Alacrity Solutions' transformation from a one-size-fits-all approach to a more personalized, client-first model, a shift that not only boosts service quality but also strengthens client relationships. Jonathan also shares his own personal journey that led him to his current leadership roles, adding a touch of inspiration to the mix. Key Highlights: The history and evolution of Alacrity’s Managed Repair Program. Jonathan Miko’s career journey and his transition from law to insurance. Key components and processes of the Managed Repair Program. Insights into how Alacrity ensures high quality and customer satisfaction. The strategic importance of technology and human intervention in MRP. Future trends and the growing significance of managed repair in the insurance industry. References: Learn more about Alacrity Solutions and their services at "The Lean Startup" by Eric Ries
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Ep 261: A.I., inflation, and IoT in Insurance
06/28/2024
Ep 261: A.I., inflation, and IoT in Insurance
Rob and Lee mix things up in this lighthearted, host-only episode! They chat about homeowners insurance, its exclusion from inflation calculations, and the importance of proper coverage. Lee also shares insights from a recent industry event, sparking a discussion on A.I.'s impact on insurance, including fraud risks and its transformative potential. Time stamps 00:00 Introduction to the FNO: InsureTech Podcast 00:25 The Impact of Inflation on Homeowner Insurance 01:59 Comparing Homeowner and Auto Insurance Costs 03:13 The Importance of Proper Insurance Coverage 04:57 Challenges in Shopping for Auto Insurance 09:43 The Role of Insurance Agents 14:25 Insights from the National Flood Conference 15:20 The Implications of A.I. in Insurance 20:43 Reflections on Technological Advancements 25:22 Conclusion and Final Thoughts
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Ep 260: Cake's Recipe for Success in Insurance (feat. Adam Bowe, Cake)
06/21/2024
Ep 260: Cake's Recipe for Success in Insurance (feat. Adam Bowe, Cake)
Join Lee as he talks with Adam Bowe, CEO and co-founder of . Learn how Cake is revolutionizing the buying, selling, and valuation of insurance agencies. Adam shares the platform’s unique approach, using machine learning for precise valuations, and highlights tools for anonymous listings, secure transactions, and escrow services. Discover the challenges and opportunities in the insuretech space, and how Cake is making the market more accessible for agency owners and buyers alike.
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Ep 259: The Future of Cyber Insurance (feat. Scott Kannry, Axio)
06/14/2024
Ep 259: The Future of Cyber Insurance (feat. Scott Kannry, Axio)
Co-hosts Rob and Lee chat with Scott Kannry, CEO and co-founder of Axio, exploring how Axio helps businesses manage cyber risk. Scott shares Axio's origin story, their unique approach to cyber insurance, and collaboration with Lloyd’s of London. Tune in to learn about the evolving field of cyber insurance and the importance of mitigating cyber risks today.
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Ep 258: Disrupting the Medical Malpractice Industry (feat. Jared Kaplan, Indigo)
06/07/2024
Ep 258: Disrupting the Medical Malpractice Industry (feat. Jared Kaplan, Indigo)
Listen as Jared Kaplan, CEO and co-founder of , discusses the challenges and innovations in medical malpractice insurance, sharing his journey from building tech startups to using transforming insurance with artificial intelligence and data analytics. Jared explores Indigo's approach to differentiating risk, offering lower premiums to deserving doctors, and ultimately aiming to impact the healthcare industry positively. Kaplan also shares a lighthearted glimpse into his off-work hobbies when he's not running the business.
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Ep 257: Redefining Home Insurance with Data and Technology (feat. Ty Harris, Openly)
05/24/2024
Ep 257: Redefining Home Insurance with Data and Technology (feat. Ty Harris, Openly)
In this episode, Rob catches up with Ty Harris, CEO and co-founder of , for his second appearance on the show. Join Ty and Rob as they chat about Openly’s growth, remote work success, and strategies for navigating the current market. Harris shares insights on Openly’s tech-enabled approach to home insurance and targeting the mass affluent market through independent agents. They also explore Openly’s focus on customer and agent satisfaction, the potential to enter the auto insurance market, and the impact of AI. We also get a little peek into Harris’s unique background, from academia to poker and ballroom dancing.
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Ep 256: Verisk Visionaries: Unlocking AI Insights with Brunko & Obert
05/10/2024
Ep 256: Verisk Visionaries: Unlocking AI Insights with Brunko & Obert
In this episode, we have a lively discussion with leaders at Verisk — Aaron Brunko, President, and David Obert, Chief Product Officer. Our conversation covers the importance of embracing AI and innovation in the insurance sector, the evolution of property estimating solutions, and the future of work in an increasingly technological landscape. Aaron and David offer insights and predictions about the impact of AI on the insurance industry, highlighting how it could streamline processes, improve decision-making, and impact the overall efficiency of claims management.
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Ep 255: We talk with the InsurTech Coalition
03/29/2024
Ep 255: We talk with the InsurTech Coalition
This week, Rob and Lee welcome an esteemed panel including four of the founding members of the InsurTech Coalition: Austin Bailey from Branch, Scott Fischer from Lemonade, Jeremy Dietch from Boost and Rachael Dugan from Indigo. Together, they talk about the mission of the InsurTech Coalition and benefits of membership, the Coalition’s aim to shape regulation through education and transparency, and how we can better use technology responsibly in insurance. Learn More: What You’ll Hear In This Episode: [5:10] The four guests introduce themselves and how they got into the Coalition. [9:32] What is the InsurTech Coalition? [12:35] What is the shared goal of the InsurTech Coalition? [14:33] Being proactive vs reactive in regulation. [16:12] The Coalition aims to become more proactive in shaping regulation for insurance and technology. [21:03] The proactive nature of the Coalition’s work and a collaboration process at all steps. [22:14] The Coalition’s ultimate mission isn't to disrupt regulation, it is to better work with regulation. [23:49] The challenge of technology outpacing laws and regulations. [26:11] The core objectives of responsible use of technology in insurance. [32:07] The evolution of the Coalition. [33:06] Timeliness of AI adoption in the insurance industry. [35:16] Collaboration despite competition.
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Ep 254: Ali Azhar, Chief Business Development Officer at HOVER
03/22/2024
Ep 254: Ali Azhar, Chief Business Development Officer at HOVER
This week, Rob and Lee welcome Ali Azhar, Chief Business Development Officer at HOVER to discuss the company's growth and innovations. Ali talks about leading the charge to work on the current verticals in construction, insurance and moving into new verticals. He discusses HOVER's journey from 2018 and all the changes that have occurred since then. Ali also shares insights into HOVER's commitment to hiring top talent and how artificial intelligence has shaped the company since its early days and their vision for the future through emerging technologies. Learn More: What You’ll Hear In This Episode: [7:06] Ali joins from Franklin, TN. [7:20] Ali shares more about his career history and his family coming to New Jersey by way of Afghanistan. [10:08] Ali’s growth from a traditional sales leadership role to CRO, focusing on optimizing core businesses and developing new markets. [12:29] Starting with the construction vertical and scaling to home improvement. [15:05] Insurance is the fastest growing sector. [16:40] Monetizing AI-powered design tool for contractors. [19:50] HOVER’s leadership never wavered in their commitment to deliver a solution that would provide incredibly high utility and value to the end consumer. [21:10] HOVER provides more than measurements. [24:00] The magic moment of using HOVER’s technology. [25:35] A counterbalance between the needs of pro users as well as policy holders. [30:45] Why is construction the largest vertical? [33:20] The importance of human psychology in implementing technology. [38:26] HOVER’s great hiring philosophy - if you want to work there, you have to be nice! [41:02] Product development and what can we expect in HOVER’s future? [44:56] AI’s impact on Hover.
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Ep 253: Founder of CQCS, Gustavo Doria Filho
03/15/2024
Ep 253: Founder of CQCS, Gustavo Doria Filho
Rob and Lee start with some T-shirt talk before welcoming guest Gustavo Doria Filho, Founder of CQCS. What began as an online network for insurance professionals in Brazil has flourished into a global community of over 100,000 subscribers. In the episode, Gustavo shares the journey of founding CQCS and highlights the vibrant landscape of insurance and innovation in Brazil, offering insights that resonate far beyond its borders. He talks about how Brazil's thriving InsurTech ecosystem is shaping the future of the industry worldwide and what we can expect from future events and opportunities. Learn More: What You’ll Hear In This Episode: [7:50] Gustavo’s career path and CQCS’s history. [10:11] Organizing a mirror ITC event in Brazil. [12:30] What was the first year like? [14:35] In the US, each state has their own insurance regulator, while in Brazil, the entire country is under one regulator. [16:26] The event is a mirror effect of the original ITC. [17:39] Excitement about InsurTech in Brazil. [19:47] Brazil’s paperless bank system. [20:56] Gustavo highlights the growth of the insurance industry in Brazil. [23:56] What attendees get out of the different sessions. [26:56] Brazil’s great ecosystem that helps people both feel trusting and as though they are having fun. [27:59] More about the big events in November 2024 and what we can expect. [29:21] The small things that make a difference in the event, including a diverse speaker lineup, providing a zero waste event, and of course that Brazilian sunshine.
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Ep 252: CEO and Co-Founder of REOR20, Danny Chatziprodromou
03/09/2024
Ep 252: CEO and Co-Founder of REOR20, Danny Chatziprodromou
Rob and Lee chat about their recent trip to London and then welcome Danny Chatziprodromou, CEO and Co-Founder of REOR20. Danny talks about how REOR20 is applying AI to revolutionize flood risk assessment and underwriting, and how the innovative technology could transform the flood insurance industry. He details more about how their physics-based AI model is one of a kind and provides more accurate risk predictions, allowing for a transformative solution for engineering-focused underwriting. Learn More: What You’ll Hear In This Episode: [7:24] Danny explains more about the meaning and name REOR20. [9:11] Fun Fact: Danny wanted to become a Formula One engineer as a child. [11:03] REOR20 coming out of stealth mode. [11:48] Winning Lloyd's competition, Lloyd's of London. [12:33] Building deep tech, AI that understands physics. [16:47] What REOR20 brings to the market. [23:44] Rewriting the thinking and methodology that has been in place. [25:18] How would this affect claim management? [27:45] REOR20 working with insurance directly. [30:05] Winning the Lloyd Labs contest and what they got out of the collaboration. [32:11] Flooding is the #1 catastrophe on Earth. [33:17] REOR’s customer base. [38:24] REOR is a deep technology company, but it was an organic fit with the InsurTech space. [40:10] The issue of AI working with the dynamics of physics. [42:15] Teaching AI the components of mathematics. [42:42] Building the fluid dynamics engine. [45:13] What is it like to be at the forefront of AI?
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Ep 251: CEO and Founder of LeakSentinel, Bill Loesch
03/02/2024
Ep 251: CEO and Founder of LeakSentinel, Bill Loesch
Rob and Lee welcome Bill Loesch, Founder and CEO of LeakSentinel, to discuss tackling the challenging problem of home water leak detection. As a serial entrepreneur with decades of experience in Silicon Valley, Bill saw an opportunity to innovate in this space and develop a lower-cost solution compared to existing cut-the-pipe technologies. In the episode, Bill talks about Leak Sentinel's approach, which involved years of prototyping to create a proof of concept device that can automatically detect water flow acoustically and shut off valves for both common types of home water pipes. He also discusses strategies for insurers to support bringing such solutions to market by mandating use to improve returns. Learn More: What You’ll Hear In This Episode: [4:32] Bill shares his journey as a serial entrepreneur and angel investor and what led him to LeakSentinel. [6:14] LeakSentinel’s history. [13:44] The people that appreciate it: people who have had flooding in their house, and insurers. [14:32] What exactly does a water leak detector does. [16:57] How LeakSentinel works. [23:30] The three types of non-invasive flow detection technologies: thermal, acoustic and ultrasonic. [25:42] Overview of LeakSentinel's approach and proof of concept device development. [27:12] LeakSentinel’s view that it’s time for insurers to start demanding these solutions. [31:28] How insurers can phase in the mandates. [31:53] Does the homeowner install LeakSentinel themselves? [35:17] Who pays for this? [37:12] Bringing LeakSentinel to market, and the need for insurers to drive the demand. [44:07] Rob and Lee tease Chapter 2 of the conversation! Stay tuned for more.
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Ep 250: CEO of InsTech, Matthew Grant
02/23/2024
Ep 250: CEO of InsTech, Matthew Grant
Rob and Lee take it internationally this week as they welcome Matthew Grant, CEO of InsTech. Matthew talks about InsTech’s ability to help insurance companies understand real trends related to technology and innovation while looking for technology companies that can provide solutions to make a real difference for insurers. He discusses how the events and community have grown and expanded over time, along with the benefits and criteria for membership. Matthew also touches upon the cultural nuances in the insurtech industry in London, including Lloyd of London’s history and function as a marketplace for insurance companies. Grab a cup of tea and enjoy! Learn More: What You’ll Hear In This Episode: [7:06] The two main aspects of InsTech's business. [10:37] The evolution of InsTech’s events. [14:35] More about the London market. [16:44] What is Lloyd of London? [20:02] Insurance in the UK market. [22:44] What the United States can learn from business done overseas. [33:50] Lloyd’s Lab. [37:50] Matthew’s background. [42:08] How someone becomes an InsTech member, and the benefits of membership.
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Ep 249: Co-Founder and CEO of Whisker Labs, Bob Marshall
02/16/2024
Ep 249: Co-Founder and CEO of Whisker Labs, Bob Marshall
Rob and Lee welcome in Bob Marshall, Co-Founder and CEO of Whisker Labs. Bob talks about their flagship solution, Ting, which draws on decades of electromagnetic and atmospheric sensor technology to protect communities and prevent electrical fires, while also monitoring the resiliency and safety of the U.S. electrical grid. Bob shares more about the many ways Ting is taking the relationship with insurers to a new level while also gaining valuable insights. He highlights some real case studies where Ting has helped to save homes, and explains the rewarding impact of their work. Learn More: What You’ll Hear In This Episode: [8:16] Bob joins the show to talk about his background in engineering and how Whisker Labs came to be. [10:00] The unfortunate fire in Bob’s family that served as inspiration to take engineering and apply it to the common issue of electrical fires. [14:00] How the TingFire technology works and monitors the home wiring. [17:06] Closing the loop and delivering the best experience possible to the customer. [18:10] Ting does not replace, but instead compliments fire alarms. [18:54] How Ting uses AI to analyze data and detect issues anywhere. [20:00] Providing documentation and data in great detail. [25:01] Ting’s partnerships with insurers that offer the service for free to customers. [30:51] Ting is currently saving 15 homes from fires per day on average. They've notified homeowners of 8,000 potential fire risks so far. [38:16] Contributing to water losses as well. [44:13] Providing compassion, education and support for the customer. [44:58] Older homes are more likely to have issues, but not as much as one may think. [47:44] Ting has over 100 employees, and is growing at a great speed.
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Ep 248: Co-Founder and President of Chrp Technologies, Chin Ma
02/09/2024
Ep 248: Co-Founder and President of Chrp Technologies, Chin Ma
This episode features Chin Ma, Co-Founder and President at Chrp Technologies, a fascinating technology that allows underwriters insight into the home of the insured and to reduce losses. Chin talks about how Chrp was created and explains how the technology helps to underwrite accurately and get the insured involved in the process, providing help where it’s needed. Learn More: What You’ll Hear In This Episode: [6:40] What is Chrp, and how did they build the technology? [9:32] What was the problem that Chin’s partner and Chrp founder Micah set out to solve? [11:27] Testing their hypothesis. [13:08] Are homes more complicated now? [15:06] How is what Chrp does in underwriting different from what is typically done? [18:00] How Chrp can provide a more comprehensive view using AI. [19:14] Chrp provides homeowners repair insights and connects them to contractors for help. [23:37] The process of getting homeowners involved. [29:20] What Chin means when he says the program should demonstrate a level of “teeth”. [31:29] A new way to look at customized premiums. [32:14] The reports they the underwriters are seeing. [36:14] Chrp’s repair network, working with the best contractors in the country. [38:26] The company’s growth and future.
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Ep 247: CEO and Co-Founder of SnapRefund, Cody Eddings
02/02/2024
Ep 247: CEO and Co-Founder of SnapRefund, Cody Eddings
Rob and Lee are joined by Cody Eddings, CEO and Co-Founder of SnapRefund. Cody first shares the story of founding SnapRefund in Philadelphia and taking the company through accelerators like TechStars. Cody also reflects on the validation of winning the State Farm pitch competition at ITC, and details how SnapRefund’s technology works to streamline and simplify the insurance claims process through automation and digital payments. Learn More: What You’ll Hear In This Episode: [9:29] Cody shares the origin behind SnapRefund. [9:48] The growing startup scene in Philadelphia. [11:02] Cody met his co-founder at a pitch workshop. [12:09] Great life lesson: you get the best out of people when you help them accomplish whatever it is they truly want to accomplish. [12:37] SnapRefund helps insurers send outbound payments with automation and analytics to improve customer retention, and operational efficiency. [18:46] The rising trend of cash apps. [20:01] How SnapRefund’s technology works to connect to clients’ existing bank accounts. [23:43] SnapRefund’s mission to financially empower people and give them greater control over their money. [24:07] Bringing visibility for both the insured and the adjuster. [28:19] The two startups Cody built before SnapRefund. [31:36] Overcoming challenges in the fundraising process. [41:03] The experience of being with Techstars. [45:08] What it meant to win State Farm’s ITC pitch competition.
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Ep 246: CEO and Founder of Charlee.AI, Sri Ramaswamy
01/26/2024
Ep 246: CEO and Founder of Charlee.AI, Sri Ramaswamy
It’s all about AI this week as Rob and Lee welcome Sri Ramaswamy, Founder and CEO of Charlee.AI. Sri talks about her journey into artificial intelligence, and how it’s evolved over the course of a decade and growing interest in AI within the industry. She shares more about the capabilities of Charlee, a trained model for insurance, and highlights the significance of using data in the right way to get accurate results. Sri talks more about Charlee’s technology and how it can help identify and prioritize fraudulent claims. Learn More: What You’ll Hear In This Episode: [5:50] Sri, a self-described “data lover” joins from Silicon Valley and talks about her upbringing in India and Australia before coming to the United States. [9:19] How Charlee.AI came to be. [10:54] Sri discusses working for a software company in Boston. [11:18] What unstructured data means in insurance claims. [18:05] The three triangle points in your expenses, reserves, and the actual indemnity. [19:22] More about how Charlee AI’s technology works. [24:33] How Charlee AI both compares and contrasts with Chat GPT. [25:43] The claims language model. [28:55] Charlee has analyzed more than 55 million claims. [30:43] How Charlee works with the claim department. [33:54] Charlee AI helps identify and prioritize problematic claims. [34:57] Claims litigation. [39:57] What is Charlee’s secret sauce for success? [41:24] Who are their customers? [43:00] How Charlee AI helps with claim reserving.
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Ep 245: CEO and Co-Founder of Betterview, David Lyman
01/19/2024
Ep 245: CEO and Co-Founder of Betterview, David Lyman
The cat is out of the bag! Nearmap acquired Betterview, and Rob and Lee have brought Co-Founder and CEO David Lyman on to tell us all about the big news. David talks about the critical pivot that led Betterview to where they are today, and the lessons learned about falling in love with the problem instead of the solution. David shares more behind the details of the acquisition, and what we can expect as the capabilities of both companies come together. Learn More: What You’ll Hear In This Episode: [5:42] David walks us down memory lane on his background in technology, how he met the other David, and how Betterview came to be. [9:49] Reaching out to the folks at Nearmap. [10:46] What exactly does Betterview do? [11:40] A software platform that allows for a combination of automated and manual workflows. [12:30] Giving scores in addition to providing data. [14:58] Betterview’s first customers were RSI customers, David Tobias’s family inspection business. [15:14] Falling in love with the problem, and not the solution. [17:01] Breaking the news to investors about the pivot, and getting immediate support. [19:35] David walks us through what happens after the decision to pivot is made. [21:36] What was the secret sauce that made them stand out from their competitors? [26:14] The reason they’ve gotten more into claims. [27:08] More about the partnership. [31:10] What can we expect in the future with Betterview and Nearmap? [34:35] Does David think the future holds more data consolidation companies? [38:06] Computer vision is a subset of AI. [42:46] How will David celebrate the big win?
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Ep. 244: CEO and Founder of Loveland Innovations, Jim Loveland
01/12/2024
Ep. 244: CEO and Founder of Loveland Innovations, Jim Loveland
Rob and Lee welcome the luminary InsurTech legend, Jim Loveland, CEO and Founder of Loveland Innovations. In this episode, Jim takes us on a journey through the genesis of Loveland, sharing the evolution of both their software and cloud-based technology, and how they have evolved over the years in their solar, roofing and insurance verticals. Jim talks about pivotal moments throughout the way, including when Loveland realized the true potential of drones and new technologies in inspections, the importance of proper AI model training, and what’s next for Loveland in 2024 and beyond. He also shares some sage advice for the next generation of entrepreneurs, emphasizing the importance of truly understanding the industry before taking the leap into business. Learn More: What You’ll Hear In This Episode: [7:21] Jim talks about his upbringing in Wyoming and how he inherited the entrepreneurial spirit from his parents. [10:21] How a reconstruction business turned into a software company in 1986. [11:01] Throw back to the days of CompuClaim. [14:15] Landing State Farm Insurance. [17:41] Creating Xactware and transforming from software to analytics in the 1990’s. [21:03] The decision to sell to ISO in 2006. [25:35] Starting Loveland Innovations in December 2015. [28:21] The genesis of Loveland, including both the software and the cloud based technology. [31:35] The pivotal moment in which Loveland realized the potential of drones and new technologies in inspections, beyond just a new way to get up on the roof. [32:35] How Loveland has grown and evolved over the years, including over 1.3 billion square feet of roof inspected, over 3 million images captured, and over 550 predictions made across their AI engine. [40:00] How Loveland’s focus on software has allowed them to adapt to changing technologies. [41:09] A teaser of 2024: automatically creating the estimate based upon AI! [46:58] The importance of proper training of AI models. [48:20] we're in the solar space, the roofing space and the insurance industry. [52:42] What’s next for Jim and Loveland Innovations in 2024? [57:24] The potential benefits and ethical concerns of AI. [1:01:31] Advice for the next generation of entrepreneurs, including truly understanding the industry before you try to tackle it.
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Ep. 243: General Partner at Brewer Lane Ventures, Martha Notaras
01/05/2024
Ep. 243: General Partner at Brewer Lane Ventures, Martha Notaras
Rob and Lee are joined by the insightful Martha Notaras, General Partner at Brewer Lane Ventures. Martha goes into detail about her eight predictions for InsurTech in 2024. She talks about leveraging technology to enhance efficiency within the insurance industry and how we can best explore the benefits and challenges posed by AI. Martha discusses cutting-edge innovations surrounding data and sheds light on the profound impact of climate change on the dynamic landscape of the insurance sector. At the end of the episode, Martha talks about what InsurTech 3.0 would look like to her, and what else excites her about the year ahead in our industry. Learn More: What You’ll Hear In This Episode: [7:22] What kind of response does Martha get from the general public regarding her 8 InsurTech Predictions for 2024? [9:13] What’s cooking over at Brewer Lane? [11:31] #1: The Word of the Year is AI. [14:32] InsurTech has been working on AI for years, but Chat GPT put it on everyone’s radar. [17:01] #2: Data Finally Gets the Attention It Deserves. [20:04] Whoever owns the data wins. Does Martha agree? [21:44] #3: Embracing Brokers. [23:04] Where the insurance industry has been neglecting data. [25:25] #4: Technology Innovation, Yes. But Make it Painless and Profitable. [27:03] How the appetite for APIs has grown. [31:57] #5: Embedded Everywhere All At Once. [35:09] An embedded play that Martha thinks is terrific. [39:25] #6: Climate: Extreme Insurance. [41:02] The concept of insuring aggregate attritional loss. [44:00] #7: Quality, Not Quantity. [49:05] #8: InsurTech + Incumbent = Delivering Innovation at Scale. [53:57] Martha’s thoughts are that we are somewhere between InsurTech 2.5 and 3.0. [54:55] Is Direct to Consumer passe?
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Ep. 242: From the Vault: AM Best Interviews FNO: InsureTech
12/29/2023
Ep. 242: From the Vault: AM Best Interviews FNO: InsureTech
We wish our listeners a wonderful and prosperous new year! As Rob and Lee continue their holiday break, we bring you another episode from the FNO: InsureTech audio vault. Hosts Rob and Lee had the pleasure of speaking with AM Best TV's Lee McDonald earlier this year, discussing the founding, growth and development of the FNO: InsureTech podcast. With over 200 episodes and counting, Lee and Rob are excited to continue the journey of sharing insuretech with listeners. Check out the interview in video: https://lnkd.in/gnXP-z97
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Ep. 241: From the Vault: VOOM Insurance Co-founder & CEO, Tomer Kashi
12/22/2023
Ep. 241: From the Vault: VOOM Insurance Co-founder & CEO, Tomer Kashi
The FNO: InsureTech team is enjoying a well-deserved holiday break. Before taking off to spend time with their families, Rob and Lee select some great episodes from the FNO: InsureTech Vault to share with you over the next few weeks. VOOM is a pioneering insuretech company developing advanced insurance products for emerging mobility segments. They offer digital, on-demand insurance for a wide range of vehicles from drones and light planes to motorcycles, e-scooters, and contemporary fleets. Rob and Tomer Kashi, CEO and Co-founder of VOOM Insurance, delve into the journey of VOOM over the past six years in the insuretech space, thoughts on pay-per-mile and usage-based models, the data advantage that VOOM possesses, and much more. Check out VOOM Insurance: https://www.voominsurance.com/
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Ep 240: CEO & Co-founder of Clearcover, Kyle Nakatsuji
12/15/2023
Ep 240: CEO & Co-founder of Clearcover, Kyle Nakatsuji
This week, Rob and Lee welcome back Kyle Nakatsuji, the insightful CEO and Co-founder of Clearcover Insurance. Kicking off with some football banter, Kyle shares some great life lessons drawn from his playing days. Exploring more of the “why” behind Clearcover's approach, Kyle discusses the notable changes the company has undergone in recent years. He provides a deeper understanding of the market dynamics and the significance of maintaining boldness and courage, detailing how calculated risks contribute to building something extraordinary in a challenging environment. Then, before the episode comes to a close, there’s a little bit more football talk, of course! Learn More: blog piece What You’ll Hear In This Episode: [7:30] What will it take for Rob and Lee’s wives to listen to this show? [9:01] Kyle’s backstory playing football in high school and college. [11:48] Kyle kept on playing football despite a torn ACL, even having surgery after the season. [14:25] Some of the lessons Kyle learned from his up-and-down journey in football. [18:58] How the last 18 months have been challenging for entrepreneurs, particularly in the insurance industry. [20:26] How has Clearcover felt this impact? [24:18] Taking bold risks in a challenging market and making adjustments to adapt to changing market conditions. [25:02] Balancing risk and caution. [27:39] Some of the cool things coming out of this time for Kyle and Clearcover, include a partnership with Experian. [29:30] What we can learn from a story about Jeff Bezos requesting the light bulbs get taken out of vending machines. [30:48] Kyle goes more in-depth about his belief that embedded is not a channel, but a strategy. [41:54] AI’s impact on how the industry will change, will still be driven by the behavioral needs of buyers. [45:13] Clearcover’s approach to claims from a customer and cost perspective. [49:11] Why bundling is important. [51:19] Finding the right combination of convenience, value, and affordability in insurance, particularly in a tricky market like California. [54:29] Kyle dishes on Aaron Rodgers!
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