For over a century, the Insurance industry has stood by people at the worst moments of their lives, and kept the risk of these moments from standing in the way of people pursuing their dreams.
But the industry, and the demands of the people we serve, are changing. The Future of Insurance podcast brings you thoughts from leaders from across the industry to help inspire and inform how we can all help evolve into the future.
Brought to you by Bryan Falchuk, industry veteran and author of the best-selling series, "The Future of Insurance: From Disruption to Evolution"
Andrew Daniels & Michael Fiedel of InsurTech Ohio
Andrew Daniels and Michael Fiedel join the show to share how a community movement started in Ohio to drive the future of Insurance through fostering the unique assets available in the state and beyond.
Theresa Blissing, Co-Host & Founder, Asia InsurTech Podcast
Theresa Blissing is the Co-Host and Founder of the Asia InsurTech Podcast, and has more than 15 years experience in the insurance industry both in Europe and Asia. Theresa is responsible for some of the first academic research into the adoption of Big Data into the Southeast Asian insurance business. A well-recognized expert, her advisory practice taps her deep knowledge of the InsurTech landscape in Asia and a fundamental understanding of upcoming trends, innovations and new technologies.
Steve Lekas & Joe Emison, Co-Founders, Branch Insurance
Steve Lekas, Co-Founder and CEO, Branch Insurance
A 20-year insurance veteran, Steve began his career at Allstate, followed by Esurance, where he built the first U.S. online home insurance business. Prior to Branch Insurance, Steve was President of the Insurance Services Office's personal lines business for Verisk Analytics. Steve co-founded Branch in 2017 to make insurance less expensive and reintroduce insurance to society as a communal good. Branch launched in 2019 and is expanding nationally.
Joe Emison, Co-Founder and CTO, Branch Insurance
Prior to Branch, Joe founded BuildFax (acquired by DMGT), Spaceful (acquired by Xceligent), BluePrince (acquired by Harris Computer), and EphPod (acquired by Wind Solutions). Joe graduated with degrees in English and Mathematics from Williams College and has a law degree from Yale Law School.
Highlights from the Show
You need a reason to be valuable to consumers in a different way Branch's mission is to make insurance less expensive so more people can be insured In their early consumer research, Joe asked people what they would do if they had a magic wand relative to their insurance, and roughly 90% said they'd make it cheaper Insurance is based on exclusions through underwriting that result in tens of millions of drivers (for example) going uninsured and more being under-insured Branch started a 501(c)(3) called SafetyNest that takes a small portion of the premiums paid and sets them aside to be able to make grants to those who suffered a loss and can't cover the cost of making them whole again, which could be because of being under-insured or uninsured, or paying the premiums of those in need to ensure they stay covered
The intention is to take the national uninsured percentage from 15% to 2% It applies to Branch customers and non-customers, so it is genuinely aiming to help the larger problem in the country With the "Build vs. Buy" debate, Joe believes you should try not to build anything, and code is a liability, not an asset The mission has helped keep them focused on efficiency, which means they build fewer things themselves, located in a city (Columbus) that is lower cost than where many startups are, and keeping the team as small as possible to help keep their costs down This leads to really empowering their staff to do what they need to do in serving their customers, which has lead to happier staff and happier customers, with a Google rating of 4.9 stars, which is outrageously high for insurance This episode is brought to you by Medallia (Medallia.com), and the book series, "The Future of Insurance: From Disruption to Evolution" by Bryan Falchuk (future-of-insurance.com).
Follow the podcast at future-of-insurance.com/podcast for more details and other episodes.
Music courtesy of UPbeat Music, available to stream on Spotify, Apple Music, Amazon Music and Google Play. Just search for "UPbeat Music".
Greg Tacchetti, Chief Information & Strategy Officer, State Auto
Greg Tachhetti is the SVP, Chief Information & Strategy Officer for Columbus-based State Auto. He was an owner and founder of AssureStart, a company that sells small business insurance online, before joining State Auto in 2015. He was chief administrative officer of Fireman's Fund Insurance Company and Allianz of America, and held senior operations, underwriting and finance roles with Safeco and GEICO.
Alex Frommeyer, Co-Founder & CEO, Beam Dental
Alex Frommeyer is the co-founder and CEO of Beam Dental. Beam Dental is a digital-first dental benefits provider that incorporates dental hygiene behavior into policy pricing, combining an easy-to-use online insurance platform, AI-powered underwriting, and the connected Beam Toothbrush for better overall wellness. Beam is the only digital-first company within the $75 billion dental insurance industry. Beam is available in 41 states around the U.S. and is accepted at over 400,000 access points nationwide.
Jane Possell, CIO, CNA
Jane Possell is Senior Vice President and Chief Information Officer for CNA, responsible for all aspects of the company’s technology portfolio.