CJ Przybyl

In the Trenches: Our Quest to Revolutionize Insurance Operations Ever wonder what drives a seasoned consulting firm to leap into product development? It's the unmistakable call to solve real problems. 🚀 Bridging the Divide: With a rich history of partnering with over 40 insurtechs, predominantly MGAs and MGUs, we've seen firsthand the strife that disjointed systems can cause. From gnarly accounts receivable issues to the cumbersome servicing of policies, the symptoms were loud, but the problems ran deeper. From Observers to Innovators: The pivot from consulting to creating wasn't a leap; it was a calculated stride into familiar territory. Armed with intimate knowledge of our clients' pain points—whether they're just starting or doubling their book size year after year—we realized something vital. The industry wasn't just yearning for a patch but a comprehensive solution. Rolling Up Our Sleeves: Our team thrives on challenges. We're not just problem identifiers; we're passionate problem solvers. We're gearing up to unveil a solution that doesn't just address symptoms but eradicates the root causes of operational inefficiencies in insurance. Mark Your Calendars: The countdown has begun. We're not just announcing the launch of our a product; we're unveiling a new dawn for insurance operations. Prepare to reimagine what's possible. Stay tuned for the revolution coming April 22nd. #InsuranceInnovation #OperationalRevolution #insurance #insurtech

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Ready to fast-track your insurance innovations? Join the Insurance Innovation Challenge hosted by InsurTech Hartford and accelerate your business ideas to fruition. Seize the opportunity to propel your vision forward with expert guidance and support! *see comments for submission link 🚀 https://lnkd.in/e8BTxD77 #InsurTech #InnovationChallenge

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🔓Is this the (best) definition of #trust? Trust is paramount in everything we do. In the #microinsurance sector, a lack of trust leads to friction and frustrations: extensive claim documentation, delayed payouts, and hesitance to go all-in on partnerships and product innovation. Cracking the trust code is essential to make a difference in microinsurance. As I try to learn more about the topic, I've encountered numerous definitions and criteria for trust, yet no universal consensus. In his bestseller 'Hit Refresh', 𝗠𝗶𝗰𝗿𝗼𝘀𝗼𝗳𝘁 𝗖𝗘𝗢 𝗦𝗮𝘁𝘆𝗮 𝗡𝗮𝗱𝗲𝗹𝗹𝗮 conceptualises trust with an equation: 𝐸 + 𝑆𝑉 + 𝑆𝑅 = 𝑇/𝑡 𝐸𝑚𝑝𝑎𝑡ℎ𝑦 + 𝑆ℎ𝑎𝑟𝑒𝑑 𝑉𝑎𝑙𝑢𝑒𝑠 + 𝑆𝑎𝑓𝑒𝑡𝑦 𝑎𝑛𝑑 𝑅𝑒𝑙𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑦 = 𝑇𝑟𝑢𝑠𝑡 𝑜𝑣𝑒𝑟 𝑇𝑖𝑚𝑒 ❓ Does this match your criteria for the best definition of trust? If not, what do you think is missing? ━━━━━━━━━━━━━━━ 🤝 Hi, I'm Bert. I'm passionate about staying up-to-date with the latest in #microinsurance. I'd be delighted to connect and exchange insights with you. 🚀 With the annual Microinsurance Master accelerator program, I am on a mission to help organisations thrive. Follow our Linkedin page to learn how 113 Masters in 39 countries are making a difference in microinsurance.

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Big I Illinois was kind enough to ask me (along with some of the cool kids like Chris Cline, Joey Bouchard, and Colby Tunick, PMP) to contribute my thoughts on "The State of InsurTech" in their June 2024 e-Insight Conversations Series. I'll drop the link to the full article in the comments but I can summarize here with two quick points: Agents should be thoughtful about their tech stack, especially as "AI" powered startups enter the industry. - In my opinion, we are due for a really dynamic period as entrepreneurs try to wrangle the power of LLMs. - I think you'll see a rapid rise in solutions powered by LLMs targeting agencies but likely an equally rapid fall as they all compete with each other (and ChatGPT). - Patrick 🍀 McBride wrote about some of the benefits he's seeing using these tools in this issue as well. Independent agents have never been more influential are the technology being built. - There are a lot of really smart folks building in this industry and we all want to hear from you, have you test drive our product, and give us feedback. - Agents can design the solutions they want and need by using this influence to guide products being built for them by getting involved with organizations like 101 Weston Labs. Check out the article and let me know what your thoughts are on the state of InsurTech! #InsurTech #Insurance #InsuranceAgents

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Roots Automation is excited to be listed among 24 Recognized Leaders being showcased at Scout InsurTech in Columbus, OH on June 17! Hosted by InsurTech Ohio, Scout InsurTech is a forum for cultivating new relationships between Insurtech innovators and the broader insurance industry. If you’re planning to be there, drop by to see us and discover how Roots is reinventing the future of #insurance #underwriting and #claims. Click to learn more: https://hubs.la/Q02BlZ3K0 #InsuranceDocumentAI #Insurtech #DigitalCoworkers #GenAI

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Our spotlight continues with Sean Bourgeois of the Fuse International. Sean sat with Andrew Daniels to discuss his journey from working in tech to insurance and how that provides a unique perspective in the industry. "The key is having a different perspective and seeing things that have worked well in other markets. It's not just an idea that you hope will work. It has great precedent, and having spent time outside the market and coming into the market, it's a lot easier to do that. We have no baggage of protocol from history. We're willing to be able to come at problems differently using examples that have been successful in the past." - Sean Follow us for weekly interviews with innovative voices in insurance, covering topics from startups to modernization. And as always a big thank you to our Presenting Partner, JobsOhio, and our Premier Partners: battleface, Beam Benefits, Bold Penguin, Branch Insurance, Central Insurance, Encova Insurance, Grange, Matic, Nationwide, Ohio Mutual Insurance Group, Western & Southern and Westfield. #insurance #technology #insurtech #future #innovation

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Lots of insights here at Insurtech Hartford! Bob Frady nailed it once again in his latest round table: 🔹On the siloed nature of insurance: "Getting claims and underwriting together is like playing 23-and-me: Yes, you guys really are are related!"🧬 🔹About predict and prevent: "I mean, the best claim is the one that never happens at all ... right?"🔮 We couldn't agree more - let's work together as an industry and get claims under control. We can do this! #ihs2024 #customerengagement #claims #underwriting

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Three types of metrics in this one: 1. Metrics that are only indirectly correlated with insureds of lower risk (credit-based insurance score) 2. Metrics that the lower risk of insureds yield (claims history) 3. Metrics that helps insureds actively reduce risk (devices warning of potential hazards) With the potential of using the devices (in #3) to also score the risk when the policy is coming up for renewal (#2). Not to mention the folks who refuse to share data may be correlated with higher risks (that's #1). Insurance is a complex game... Credit scores in personal auto insurance pricing have been standard practice for several years. While this is due to "keeping things fair," can connected home scores help extend coverage to places where floods and wildfires are more prevalent? #Insurance #InsurTech

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Why are insurers incorporating AI into their Group Health Underwriting? Take a minute to listen to Steve Schroeder, VP of #Underwriting for Level Funding at Dallas Risk Management, LLC, who shares what drove DRM to consider AI - and how it has since enhanced their underwriting processes and efficiency. #grouphealthunderwriting #artificialintelligence #GradientAIClients #riskmanagement. https://lnkd.in/eyujgDAb

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IF you are in insurance and you have to build company, (Companies) then watch this. From Legacy companies, insurtech companies, carriers to insurtechs. I see people build things, then be able to talk about and show their true values. I have consulted many companies on their hirings and also consulted many brokers. When scaling- evaluating potential hire’s past, I almost feel like we don’t ever have the right tool of properly evaluating people on analytics. What is the proper way to evaluate someone’s impact in past, based on the tools they were given to work with? And trying to predict their future impacts, given the tools they will work with? People hiring is one of the most challenging things we face, and I am on here always learning and many people just don’t have this down, on how to evaluate hired on analytics. Because the matrix box of people analytics almost don’t exist!!!! Don’t tell me personality tests, or how well someone pay an expert to build puffy resumes, are the tools. Because I have met so many talent recruiters my life and most of them never been around enough high end operators and entrepreneurs to exactly know what to look for. https://lnkd.in/gapdmbMp

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What's your go-to activity to unwind and re-focus? 🧘‍♂️🧘‍♀️ When I'm not presidenting an insurtech underwriting inspection company 📊, writing insurance raps 🎶, creating insurance video memes 🎞, or having run-ins with the law in San Diego🚔, you'll likely find me here. On the water. 🌊 In my kayak. 🛶 Catching and releasing fish. 🎣 It's my therapy. 😎 I know I need it. So I make it happen. I'm blessed to live on a small lake, which makes it quick and easy to get on the water, even if it's just for half an hour. When work is tough, problems are large, stress is high and easy answers are few, it's time for a quiet sunset on the water to clear my head, divert my focus, and calm my nerves. 🌅 What does that for you? Whatever it is, make time for it. We all need it now more than ever. 🙏🙏🙏 #insurance #hardmarket #worklife #mentalhealth #takecare

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🏁 Beginning #digitisation and #automation is easy - it's seeing it through that's the hard part for many reinsurance companies. What's worse is the false perception that by starting well, your company will be more likely to complete its digitisation efforts quicker and easier than expected. A concept that comes to mind is Tobias Zwingmann’s 80% fallacy. I would hate to rain on any company's digitisation parade but it really must be stressed that underestimation of the latter half of your digitisation implementation could be the breaking of the entire initiative. Tobias speaks of #AI development of which I am not an expert but from my experience with digitisation and automation in reinsurance, I could tell the exact same story. He says that while initial progress may come quickly, the final 20% of development is exponentially more challenging and time-consuming. This fallacy often leads to underestimation of resources and timelines, resulting in failed projects. You can avoid falling victim to the 80% fallacy in a few ways: 👉 Manage expectations By clearly communicating the challenges of moving from 80% to 100% accuracy, you can establish realistic timelines and milestones that account for the exponential increase in complexity. 👉 Phase your implementation In a similar light to an article I wrote recently referencing McKinsey & Company's stairway to digital excellence, an incremental approach allows for digitisation to scale with your company's readiness, reducing the risk of insurmountable issues later on. 👉 Don't delay change management You will want this sorted from the start as it can be a real hurdle later down the line if not dealt with effectively. Do this by adequately training employees and preparing them for the new digital or automated processes. And of course, if you require support with any of the above, get in touch using the link below and I will be happy to discuss how we can work together to get your reinsurance company to 100% at last. https://www.buondrius.com/ #reinsurance

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Headed to Insurtech Insights today? Don't miss our CTO and co-founder Jack Arenas' panel at 11:10 on how insurtechs can work with carriers to improve the life insurance journey. #InsurtechInsights

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It has been a privilege to partner with Stephen Sills, Steven Feltner, Jeff Saunders, and the exceptional team at Bowhead Specialty as they redefine the standards for growth, broker servicing, and underwriting excellence. Bowhead's leadership has quickly executed on what many in the industry are now realizing: separating the wheat from the chaff when it comes to AI is critical. There is an incredible amount of noise but often little of substance. AI is a powerful tool only when it is tied to empowering underwriters to deliver on the true business KPIs that matter: premium growth and profitability. This requires a set of complete capabilities and a platform that can demonstrably move the needle in days, not years. Multi-year projects, endless POCs, a 5-year AI roadmap, no-code build-ups, or cobbling together inadequate point solutions do not solve the challenges that insurance leaders are facing. Kalepa's AI Copilot does. I'm grateful to Bowhead's team for their partnership and thrilled to continue to support them after a tremendous IPO last week. Congratulations on the remarkable achievement! #underwriting #insurance #ai

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#WorkersCompensation relative frequency of burns, spinal cord injuries, and traumatic brain injuries with claims of more than $1 million has grown by nearly 7% per year since 2012. By contrast, large claims for degenerative disc disorders and pain have decreased by 11% per year. Find out more about #severeinjuries in #workerscomp. #TBI #Burn #SoftTissue

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Ann Dieleman, MBA, PCC, executive director at the PROFESSIONAL INSURANCE MARKETING ASSOCIATION, shares four strategies for successful AI adoption. “Despite the numerous benefits and AI use cases in insurance, insurers must still be aware of the potential challenges associated with any new technology, such as ensuring data quality or maintaining privacy and regulatory compliance,” she writes. “Additionally, balancing AI's capabilities with the necessity for human oversight is essential.” https://bit.ly/4b3UnbR #insurtech #AI

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This article from CLARA Analytics explains how AI can reduce medical costs for Workers' Comp claims. https://lnkd.in/dPbUrKr7 #insurtech #insuranceagent #insurancebrokers #generativeai

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