Obie’s Post

In this episode of InsurTech Amplified, ⁠Aaron Letzeiser⁠, co-founder and COO of ⁠Obie Insurance⁠, shared his journey from a non-traditional insurance background to transforming the insurance process for real estate investors. Aaron and his brother Ryan identified a significant problem in the industry: the lack of transparency and control in obtaining insurance for real estate investments. By leveraging their combined expertise in business and real estate, they created a solution that digitizes the underwriting process, provides instant quotes, and empowers customers to make informed decisions. Aaron’s story underscores the importance of empathy, curiosity, and leveraging existing skills to solve real-world problems. Aaron also emphasized the value of good partnerships and the impact of embedded insurance. By partnering with strict lenders and integrating the insurance purchasing process into real estate transaction platforms, Obie Insurance ensures compliance and eliminates delays. This innovative approach, called Embedded 2.0, benefits both lenders and buyers, simplifying the insurance process and reducing administrative burdens. Aaron’s experience highlights how technology can transform traditional industries, making processes more efficient and user-friendly, and offering valuable lessons for entrepreneurs and industry professionals alike.

Agents and brokers are the backbone of insurance distribution, with over 60% of P&C insurance and more than 80% of commercial insurance sold by third-party agents in the U.S. Organizations that have attempted to bypass agents quickly realized their indispensable role. As insurance and risks grow more complex, agents will become even more crucial in the insurance placement process. Many of our members at the InsurTech Association are focused on improving the capabilities of agents and brokers. And a large part of the work I'm doing at my startup, Turris, is also towards that end. That's why I'm thrilled to moderate a panel on the Evolution of the Brokering Landscape at Insurtech Insights! Joining me are: Grace Hanson, Former Chief Claims Officer, Hippo Insurance Brandy Burch, CEO, benefitbay® Tiffine Wang, Partner - Investments, MS&AD Ventures Al Bagiro, PhD, CPCU, ARM, PMP, CISM, CASP, CEO & CTO, Cogo Insurance We'll be discussing: 💡 The evolving capabilities that agents and brokers expect from their carrier/MGA partners, 💡 The value brokers bring to the distribution and claims process and how technology will further support this, 💡 And of course, the role AI will play in this evolution. If you're an agent or broker, this is a fantastic opportunity to join the discussion. And if you work for an MGA or carrier, come learn why understanding these changes is vital for your organization.

Episode 45: Is the Insurance Sector Prepared for the Tech Evolution? Featuring Michael Silverman, CEO of Silver Lining Insurance, on InsurTech Amplified. Discover insights into the industry's future! #InsurTech #TechRevolution

Episode 45: Is the Insurance Sector Prepared for the Tech Evolution? Featuring Michael Silverman, CEO of Silver Lining Insurance, on InsurTech Amplified. Discover insights into the industry's future! #InsurTech #TechRevolution

In a time when the embedded insurance market grapples with challenges, INSHUR has emerged as a beacon of resilience, securing $19 million to expand its tailored offerings for the on-demand economy. With a remarkable nearly 4x revenue increase this year, it's clear that INSHUR's focused strategy, particularly its partnership with Uber, is paying off. The growth of its car-sharing insurance solution by 100% speaks volumes about market demand for niche solutions. As the market sees thinning profit margins and a shift towards stability, companies like INSHUR are proving that specialization and strategic partnerships are key. Their recent success isn’t just impressive; it's a roadmap for others navigating these turbulent waters. In the evolving landscape of insurtech, it’s clear: staying agile and focused can lead to not just survival but exceptional growth.

Authentic Insurance, a company provides the infrastructure for franchisors, software companies or associations to roll out their own “captive” insurance offering, has raised an $11M Series A round led by FirstMark Capital with participation from Slow Ventures, Altai Ventures, MGV, Upper90, and Commerce Ventures. Providing the infrastructure for franchisors, software companies or associations to roll out their own insurance offering to their existing customers, Authentic describes the way it operates as being like a “co-op” or “collective” model, enabling member-owned programs allow for hyper-customised coverage and potential dividends when there are fewer claims, which can lead to cost savings as well. “The way commercial insurance is bought and sold has largely remained unchanged since it first came into existence over 50 years ago,” comments Adam Nelson, Partner, FirstMark Capital. “Authentic is the first company to virtually eliminate the need for traditional carriers. With a platform approach that enables partners to roll out their own new insurance offerings, it’s been incredible to watch as millions of businesses instantly gain access to a better insurance model on day one.” https://lnkd.in/eu5KUtbb #embeddedinsurance #openinsurance #insurtech #funding #insurance

Check out Gordon Wintrob discussing how we are leveraging technology to reimagine the commercial insurance experience.

Join us as we delve into Daniel Schreiber's journey at Lemonade, an InsurTech that’s changing the global insurance landscape. Find out more below about what he had to say about his aim for Lemonade to transform the insurance industry. #InsurTech #Tech #ClimateChange

Weekly research from InsurTech Analyst European InsurTech deal activity halves again in Q1 2024 In the first quarter of 2024, European InsurTech deal activity experienced a significant decline, totalling only 16 deals. This represents a notable 57% drop compared to the same period in 2023. On the funding front, European InsurTech companies raised a combined total of $228 million in Q1 2024. However, this figure reflects a substantial reduction of 47% when compared to the funding raised during Q1 2023. Hyperexponetial, a pricing decision intelligence (PDI) software provider, had the largest European InsurTech deal in Q1 2024 after raising $73m in their latest Series B funding round, led by Battery Ventures. The funds are set to fuel the expansion of the company’s mission-critical insurance pricing platform, and support its strategic expansion into the United States, as it looks to open a New York office later this year. The UK and Germany were tied as the most active InsurTech countries in Europe during Q1 2024 with five deals each, a 31% share of total deals this quarter. Turkey was the next most active with two deals, a 13% share of deals. On December 14th the EU Council and Parliament agreed on amendments to the Solvency II directive and introduced new rules on insurance recovery and resolution (IRRD). The amendments to Solvency II aim to strengthen the insurance sector's role in providing long-term investments to European businesses while enhancing its resilience to future challenges, thereby protecting policyholders. This aligns with the goals of the Capital Markets Union, financing green and digital transitions, and facilitating Europe's economic recovery from the COVID-19 pandemic. The IRRD seeks to improve preparedness for significant financial distress among insurers and relevant authorities in the EU, enabling timely intervention in crisis situations while safeguarding policyholders and minimizing impacts on the economy and financial system, without resorting to taxpayers' money.   hyperexponential Nidhi Thapar ELEMENT Insurance AG Eye Security Hellas Direct Xaver Embea KYND Melanie Hayes B2Metric Lumnion

Zov Solutions expands presence in German-speaking insurance markets Simplifying complexities for German insurers - the German commercial insurance landscape has never been more challenging. Pressure is mounting to digitise workflows and streamline complex underwriting processes across multi-country operations. At Zov Solutions, we believe it's time to tackle these challenges head-on - with over 20 years of experience across the UK and Western Europe, we’re investing in partnerships with local experts to support specialised and international risk carriers in Germany. Together, we’ll overcome the complexities that are slowing down the industry. Our growth in the German market is led by Dimitar Gouberkov, our new Regional Market Manager for Germany and Austria. Dimitar’s deep knowledge of the local insurance market makes him the ideal guide to help our clients navigate current and future challenges. Want to learn more about how Zov Solutions leverages decades of expertise to solve the most complex challenges in the industry?    Check out our blog🔗 https://lnkd.in/g_8_Zxin Ready to navigate the future with us? Follow us on LinkedIn for regular updates!    #Insurance #InsurTech #Underwriting #Innovation #GermanMarket