When it comes to InsurTech, Frank Senter is the man that you want to talk to. For the past 45 years, Frank has been providing technology solutions to insurance companies. In this episode, Frank shares his knowledge that is going to provide you further information and insight into this area of expertise and how it can benefit you and your agency.
* Returning to his entrepreneurial roots and mentoring starting InsurTech vendors
* Opportunities missed by agents for not using technology and the disservice it does to them
* The do’s and don’ts of InsurTech Accelerators
* The best agency tech initiatives and using them to your agency’s advantage
* Why vendors restrict access to agency data
About Our Guest:
Frank Sentner has been providing technology solutions to the insurance industry for 45 years. His consulting practice is focused on improving the business processes of insurers, insurance brokerage firms, and insurance technology solution providers. He has managed major policy, billing, and claims system replacement projects for insurers and has provided strategic consulting for many insurance brokerage firms, concentrating for several years on mentoring Startup InsurTech firms.
Frank led the development of the first ACORD forms-based agency policy and claims system while working for Insurnet in 1976. He started his first consulting firm in 1982, then merged it with two other founders in 1984 to form Creative Information Systems (CISCo) where he designed and developed Sagitta, the first ACORD AL3-based agency system, which is still used today by some of the largest insurance brokers in the world.
In 1992, CISCo merged with the Gemini division of Aetna to form CISGEM, which was acquired by Vertafore in 1995 and where Frank served as SVP of Technology until 1996. Vertafore was acquired by Bain Capital Private Equity and Vista Equity Partners from TPG Capital for $2.7 Billion in 2016 and recently sold to Roper Technologies for $5.35 Billion. Sagitta is still their flagship product for national insurance brokers like Marsh MMA, USI, and BB&T.
In September 1996, Frank started his second consulting practice, Sentwood Consulting. In the last 23 years, he has consulted for many organizations as diverse as The Council of Insurance Agents & Brokers, USI Insurance Services, Insurity Inc., and ACORD.
Recently, Frank worked with representatives from the State of Connecticut, the City of Hartford, the University of Connecticut, Travelers Insurance, The Hartford, AXA/XL , Hanover Insurance, NassauRe, Cigna Health Insurance, and InsurTech Hartford to raise funds and select StartupBootcamp as the organization to operate the first InsurTech Accelerator in Connecticut. He helped to create Hartford InsurTech Hub and has mentored many of its Startups as well as the Startups participating in the NassauRe/Imagine InsurTech Incubator. He is also an advisor to InsurTech Hartford.
Until next time, get out there and make a difference, be unstoppable, and leave no regrets!
The Unstoppable Profit Producer