E105: Frank Sentner On Legacy and Perspective

In this episode, James talks with Frank Sentner, Owner of Sentwood Consulting.

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Episode Highlights:

• Frank shares about his 47 years in the insurance industry, including how he was able to build a product that is now known as Sagitta and how he started his consulting practice. (3:16)
• Frank mentions that entrepreneurs are a stimulating group of individuals to be around, and he is delighted to help them by providing insight into the industry, and share some of the mistakes he made along the way, and how to avoid those pitfalls. (8:58)
• Frank shares that the ACORD InsurTech Innovation Challenge was one of the opportunities that got him started in insurance technology, mentoring, and advising. (11:09)
• Frank explains that Peter MacDonald has a successful product with Wunderite because he had the most important trait of an entrepreneur: he was persistent and never gave up. (13:13)
• Frank discusses the process of the emergence of IVANS’ policy downloads from carriers into management systems into retail agencies. (23:28)
• Frank believes that insurance influences every part of people's personal and professional life, that it keeps us safer, and that it makes the business world more predictable and reliable. (28:56)
• Frank explains that the biggest difference he's seeing right now in the industry is that more than half of the technology is risk-mitigation technology. (37:16)
• Frank shares his opinions on Robotic Process Automation and Machine Learning platforms. (42:26)
• According to Frank, employing technology effectively in the insurance industry is never a technology problem, it's always a business problem. (50:30)

Key Quotes:

• “I find entrepreneurs to be such a stimulating group of people to be around. They are 100% energy, and they've put it all on the line. And anything I can do to help by giving them insight into our industry, and some of the mistakes I've made myself along the way, how to avoid those pitfalls is really something that gives me great, great pleasure.” - Frank Sentner
• “The insurance industry is constantly innovating within their space, okay? They're constantly adding additional types of coverage, additional endorsements, additional lines of business, you know, and it is not going to stop. I mean, it's only going to get more complex, because the world is getting more complex.” - Frank Sentner
• “For every technology that our industry employs, getting it deployed successfully has never been a technology problem. Never. It's always a business problem. It's getting the business people to agree what they want to do.” - Frank Sentner