The Voices of Risk Management

Insurtech Is in High Demand Because the People Need the Innovation With Tanner Hackett

Feb 10, 2023

41:15

Tanner Hackett is the CEO of Counterpart, a management and professional liability insurance company. As a relatively new insurance nerd, Tanner is fascinated by this industry despite only being in this space for about three years. Through his work in Southeast Asia, Tanner is bringing some of the concepts he’s learned overseas and applying them back on U.S. soil. Find out more about Tanner and the work he’s doing in Insurtech in this week’s episode.

Key Takeaways:

A little bit about Tanner and his company, Counterpart.
As a serial entrepreneur, this is the most interesting company Tanner has started. There is so much to learn about insurance and it affects all aspects of our lives.
Nobody really wants to talk about the vital importance of insurance.
If you ever go into bankruptcy, insurance can help protect your personal assets.
What is social inflation vs. legal system abuse?
When it comes to liability claims, where is the money really going? It's going to the lawyers, not the people.
What are Tanner’s thoughts on pursuing a higher level of education?
Business owners are often thinking in quarters, not two to three years out from now. This makes it difficult sometimes to justify the ROI on HR software.
Nine out of 10 insurers are looking at how they can buy risk mitigation services on top of their insurance.
Insurers have the ability to offer preventive measures to their clients and lessen the risk burden of their clients.
How did Tanner go from New York to living in Malaysia to start a company?
Insurance is really hard to do and build. There are so many institutions to consider, but the work Tanner did in Asia was eye-opening.
Insurance is so nuanced and specific that it is critical to have a robust software program that can handle the subtle differences that insurance has to offer.
People want more options, they want things faster, and they want things cheaper. This philosophy is only going to grow in intensity over the next coming years.
Can we all just get rid of certificates of insurance already?