FNO: InsureTech

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:

www.fnoinsuretech.com

REOR20

Danny on LinkedIn

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?

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:

www.fnoinsuretech.com

InsTech 

LeakSentinel 

Bill Loesch LinkedIn 

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. 

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:

www.fnoinsuretech.com

InsTech 

Matthew LinkedIn 

Podcasts 

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.

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:

www.fnoinsuretech.com

Whisker Labs 

Bob Marshall LinkedIn 

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. 

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:

www.fnoinsuretech.com

Chrp 

Chin Ma LinkedIn 

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. 

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:

www.fnoinsuretech.com

SnapRefund 

Cody Eddings LinkedIn 

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. 

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:

www.fnoinsuretech.com

Charlee.AI

Sri Ramaswamy LinkedIn

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.

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:

www.fnoinsuretech.com

Betterview 

Nearmap 

David Lyman LinkedIn 

Episode with Patrick Quigley 

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?

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:

www.fnoinsuretech.com

Jim Loveland LinkedIn 

Loveland Innovations 

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. 

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:

www.fnoinsuretech.com

Brewer Lane Ventures

Martha: LinkedIn

What to Expect: 8 InsurTech Predictions for 2024

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?

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

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/

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:

www.fnoinsuretech.com

Clearcover 

Kyle: LinkedIn 

Episode 210 with Kyle 

The Farmer from Merna 

Insurance on the Side 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!

This week, Rob welcomes on Scott Ham, the visionary CEO of Pinpoint Predictive, a groundbreaking AI-driven deep learning product. Scott provides insights into his career journey and the pivotal moments that led him to spearhead Pinpoint. He sheds light on the remarkable capabilities of Pinpoint's AI-powered platform, showcasing its prowess in solving complex real-world problems by harnessing billions of data points within expansive datasets. Scott also shares some of the glowing testimonials that attest to Pinpoint's transformative impact, illustrating how seamlessly it collaborates with underwriters to revolutionize decision-making processes.

Learn More:

www.fnoinsuretech.com

Pinpoint Predictive 

Scott Ham 

What You’ll Hear In This Episode:

[4:18] Where o’where has Lee been? 

[9:01] How Scott’s background at Transamerica and McKinsey led him to Pinpoint and influenced his approach. 

[13:45] Pinpoint uses behavioral data from 250 million US adults to predict insurance losses. 

[15:04] The importance of preducing claim severity, frequency and loss cost at the beginning of the insurance process to improve solvency and fairness.

[18:24] Why underwriters are not threatened by Pinpoint’s technology. 

[21:16] Pinpoint currently focuses on PNC. 

[23:09] How the legal community has responded to Pinpoint. 

[25:07] The importance of addressing fairness and bias in AI models, particularly in the insurance industry. 

[27:00] Proactively addressing regulatory concerns by conducting audits. 

[30:04] Using Pinpoint at renewal. 

[31:51] What is a deep learning platform? 

[34:47] Using AI to improve insurance risk assessment and loss ratios. 

[37:03] What response has Pinpoint seen by actuaries? 

[38:42] How and why Pinpoint is easily deployed and reduces client onboarding time from months to weeks. 

[43:43] Growing and expanding Pinpoint in a thoughtful manner. 

[45:29] Pinpoint’s future and that they are made up of a team of technologists and the best insurance executives. 

Rob welcomes back Andy Lerner, Managing Director at IA Capital Group, one of the longest running VCs in the InsurTech space. Andy talks about IA Capital Group’s structure, and what positive things he sees in the future state of the Insurtech industry. Andy and Rob also discuss AI in Insurtech, including both its potential impact for good and the limitations. Towards the end of the conversation, Andy and Rob discuss how traditional education has changed, and their predictions in the industry for the next 5-10 years. 

Learn More:

www.fnoinsuretech.com

IA Capital Group 

Andrew Lerner LinkedIn 

What You’ll Hear In This Episode:

[6:22] Andy talks about IA Capital Group and their primary focus on FinTech InsurTech over the past 23 years. 

[8:49] What kind of companies does IA Capital Group work with? 

[12:40] Who in the industry has had a challenging year? 

[14:40] The process of moving to their 10th fund and the reception in the market to their work. 

[15:00] How IA Capital’s investment process works. 

[17:09] Insurance companies prioritize long-term relationships over quick decisions, valuing loyalty over speed.

[20:11] Investments typically have a 5-6 year holding period. 

[21:51] The relationship between venture capital and private equity, where they often work together on investments but may have different strategies for selling companies.

[25:23] The three major categories: distribution, newer more innovative products, and the service providers to the industry. 

[33:32] AI in InsurTech and its potential impact.

[39:36] Frontier Risk and investing in cannabis. 

[43:57] what effect does it have when a war breaks out in the middle of a business opportunity? 

[46:50] As a Wharton graduate, Andy shares his thoughts on how the need for education has changed in the industry. 

[49:37] Where does Andy see the industry 5 years from now? 

This week, we have the pleasure of being joined by Alex Martin, the CEO and Co-Founder of Clearspeed. Alex shares a glimpse into the interesting founding story of Clearspeed and its journey, transitioning from delivering outstanding results in the military sector to expanding into the realm of insurance. Alex explains the intricacies of how Clearspeed operates, emphasizing its role in swiftly establishing trust to expedite clearance processes and enable more informed, scalable decision-making. He sheds light on the significance of the insurance sector, highlighting it as a pivotal focus in every business decision made, and talks about going into a new industry with humility and the desire to always learn more.

Learn More:

www.fnoinsuretech.com

Clearspeed

Alex Martin Linkedin

What You’ll Hear In This Episode:

[3:30] Alex dials in from the Property Insurance Conference.

[4:18] What is Clearspeed?

[5:15] How Clearspeed has evolved since starting in 2016 as a mostly military-founded group.

[9:46] The magic in Clearspeed’s functions and technology as a voice analytics technology company.

[10:14] What are they listening for in the 5-minute phone call?

[11:55] Using AI to analyze answers to questions and categorize individuals as low, possible, or high risk for fraud.

[16:10] Why did Clearspeed evolve into the insurance industry, and what has that journey been like for Alex?

[18:58] The revolution of voice technology and AI in insurance.

[22:44] Clearspeed has won multiple awards. What is their philosophy on entering a new market, such as insurance?

[24:04] Finding Clearspeed’s first adopters.

[27:21] Balancing trust with caution, and having tools that can strengthen our gut intuitions to weed out those who are bad vs. those who are just trying to do the right thing.

[37:56] Clearspeed’s multiple arms still includes the military, and branching out to many industries, including the world of sports.

[42:41] What keeps Alex motivated and excited about Clearspeed and what the company is doing?

Caribou Honig, our most frequent guest and honorary chairman, returns to get us excited about ITC Vegas and the state of InsureTech in general. In our chat, we go down memory lane about how the conference started and how it’s grown throughout the years to now be the Super Bowl of events in the insurance space. Caribou talks about the importance of scalability and sustainability, why you should hug your local regulator, and the importance of finding and focusing on your niche. 

Learn More:

www.fnoinsuretech.com

Caribou Honig LinkedIn

ITC Vegas 

What You’ll Hear In This Episode:

[2:12] It’s the Super Bowl of InsureTech - the ITC! 

[5:18] Why did Caribou choose Santa Fe? 

[7:50] Launching and selling InsureTech Connect. 

[9:06] The growth of the conference over time.

[10:15] Caribou’s appreciation of the emotional feedback from in person conferences. 

[10:40] Does Caribou fancy himself an insuretech professional, conference professional, or both? 

[11:50] This year, the ITC Vegas conference expects over 9,000 people. 

[13:07] What insuretech is today, and how it has developed over the years. Also, how it is similar to FinTech. 

[14:55] The importance of finding and focusing on your niche. 

[17:32] The maturation of the industry. 

[20:57[ How the M&A market has been over the past several years, and how that has affected InsureTech. 

[30:44] How the energy has shifted from the customer facing InsureTechs over to the B2B. 

[32:50] Caribou discusses his interest in regulation. 

[36:43] Caribou’s advice: hug a regulator when you see them! 

[36:44] What can we expect for the conference, and what if someone wants to hang with Caribou while there? [38:30] Caribou’s two day jobs right now: launching and growing conferences and working as a general partner at the VC Fund SemperVirens. 

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?

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.

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?