Profiles in Risk

In this episode of Profile in Risk, I speak with Kevin Grudzien (pronounced Groo-Jean, as in blue jean). Kevin is a forensic accountant who specializes in reconstructing business interruption losses. Business interruption claims are some of the most difficult to adjust in insurance. Kevin and I discuss why that is, and what companies can do to make sure they have the proper BI coverage and to avoid painful BI claims. We also jump into Contingent Business Interruption, careers in forensic accounting and the opportunities that exist for insurtech to streamline this one adjusting niche. CONTACT KEVIN: https://www.linkedin.com/in/kevin-grudzien-4712806/

I was very fortunate to be able to spend a few days at Plug and Play in Silicon Valley. My company was part of the lucky cohort that was invited to pitch. Here is a description of Plug and Play:

Recently I had to complete an application for Errors and Omissions Insurance (E&O) for my startup. Unfortunately for me, the application required me to download, print, complete, sign, scan and email back to the broker. I then had to re-answer several questions by email. A very inefficient process and one fraught with potential errors for insurance agents. Mike Furlong aims to fix this. In this episode of Profiles in Risk, I interviewed Mike Furlong of Indio Technologies and we discussed his anti-Sisyphean quest to help agents break their dependence on paper applications and other unstructured data. We also go into some of the ups & downs of creating a startup Contact: https://www.linkedin.com/in/michael-furlong-6442b332/ mike@uxindio.com https://www.useindio.com/

Jeff Kleid's career really stands out. He started out as an insurance producer but moved to an executive role and used the skills from both positions to become one of the first successful web-based insurance entrepreneurs. Some of his early web-based programs are still alive, bigger and better than ever. ON BEING A GOOD NETWORKER: Toastmasters Internal: https://www.toastmasters.org/ On being a good networker - "It's about quality not quantity" On being a bad networker - "don't throw your business cards around" HOW TO REACH JEFF: email: jeff@jeffkleid.com Twitter: https://twitter.com/JeffKleid LinkedIn: https://www.linkedin.com/in/jeffkleid/ Home Page: http://jeffkleid.com/ Book: Networking With The Cards You Are Dealt Inexpensive video creation: www.powtoon.com

In this episode of Profiles in Risk we spoke with Rick McCathron, the head of insurance at Hippo Insurance. Hippo is a digitally native homeowner insurer currently writing out of California. Rick spoke about Hippo's mission to provide a modern insurance product, that covers assets that the modern homeowners need covered today (yeah, they don't really focus on stock certificates or gold bullion)...all with the modern conveniences of digital technology. Most customers can get a quote in less than 60 seconds and can bind coverage in less than 3 minutes. In the podcast, Rick referred to Hippo's business model as consisting of a 3-legged stool. Leg 1. superior customer experience via the UI, phone, and other technologies; Leg 2. Superior product that matches coverages to modern exposures and Leg 3. taking advantage of big data and other 3rd party data sources to quantify the exposure for underwriting (thereby improving stool leg 1!). BACKGROUND INFORMATION: Linkedin Profile: https://www.linkedin.com/in/richard-l-mccathron-514a4a4/ Hippo Insurance homepage: https://myhippo.com/ Hippo YouTube video (via Milliman): https://www.youtube.com/watch?v=LJmvinO9Pes AS MENTIONED IN THE PODCAST: Loss Pick: https://www.irmi.com/online/insurance-glossary/terms/l/loss-pick.aspx RANK THE RISK: https://www.valuepenguin.com/average-cost-of-homeowners-insurance

In his own words: "I was never formally educated, I'm not very talented, and my IQ is average (at best). I was too small for football, too slow for soccer, and too anxious for baseball. I haven't been very lucky, I rarely caught a break, and still have never been given anything for free. I was raised by pessimism, subconsciously taught to fail, and expected to achieve a standard level of mediocrity. So, what makes me different? I learned to stop listening to others and disengage from the crowd. While they slept in, I prepared for them to wake. When they clocked out, I started a new pot. While they drank with friends, I sharpened my saw. While they watched television, I watched seminars. When they complained, I felt nothing. I'm not better than you or anyone else --- I'm just addicted to defining my future." Show Notes: Jeremy Rittig LinkedIn Profile: https://www.linkedin.com/in/jeremyrettig/ Adjusting to 6 Figures site: http://adjustingto6figures.com/about-us/ 4-Hour Work Week: https://www.amazon.com/4-Hour-Workweek-Escape-Live-Anywhere/dp/0307465357/ref=sr_1_1?ie=UTF8&qid=1501353040&sr=8-1&keywords=4+hour+work+week Gary Vaynerchuk: https://www.youtube.com/user/GaryVaynerchuk Rank The Risk Shark statistics: https://www.floridamuseum.ufl.edu/fish/isaf/what-are-odds/risks-comparison/risk-death/

Allan Egbert https://www.linkedin.com/in/aegbertjr/ is the co-founder of Ask Kodiak https://askkodiak.com/#/home  Show Notes: Ask Kodiak is trying to solve a big communications problems between the insurance markets and distributors such as brokers and agents. The insurance markets believe that they communicate well, to their agents & brokers, what type of exposures they wish to cover...brokers and agents feel as though they DON'T know what their carriers actually want. What results is a lot of wasted time and energy trying to fit square pegs into round holes. Ask Kodiak is solving this problem. Ask Kodiak is solving this problem. #InsuranceSafari Show notes: Ask Kodiak homepage:  https://askkodiak.com/#/home Allan Egbert LinkedIn profile: https://www.linkedin.com/in/aegbertjr/ Allan Egbert twitter: https://twitter.com/AskKodiak Productivity Tools: Slack - https://slack.com/ Rank the Risk Stats: Sand hole collapse vs. shark attack https://www.floridamuseum.ufl.edu/fish/isaf/what-are-odds/risks-comparison/sand-holes/ Stats: Shark attacks vs. other risks https://www.floridamuseum.ufl.edu/index.php/fish/isaf/what-are-odds/risks-comparison/

In Episode 22, Carly and Nick speak with OP Alamaraz and Tim Bauer of Allied Restoration. What was expected to be a conversation entirely about claims contracting and restoration turned into a nearly hour long discussion about the importance of corporate culture. Both OP and Tim have an incredible story to tell and their passion for both their work and self-improvement will be obvious to anyone who listens. OP turned tragedy into an infectious mission to do good in the world... and Tim shed nearly 250 pounds The inspiration and motivation they provide to Allied and others is a lesson for any corporate leader in any industry. Enjoy SHOW NOTES Allied Restoration home page: http://www.alliedrestore.com/ Tim Bauer's LinkedIn Profile: https://www.linkedin.com/in/tiniertim/ Tim's website: http://tiniertim.com/ ‘Skin Tight': Tim Sheds Tears of Joy Over Pending Plastic Surgery (Exclusive Video): http://www.thewrap.com/skin-tight-tlc-tim-bauer-228-pounds-surgery/ Tim's email" tim@alliedrestoration.com OP Almaraz's LinkedIn Profile: https://www.linkedin.com/in/opalmaraz/ marketing videos: http://www.randrmagonline.com/authors/2026-o-p-almaraz OP's email: op@alliedrestoration.com The Ritz Carlton Daily Lineup Call: https://www.fastcompany.com/35474/ritz-puts-stand-meetings Core Story - "Dream Clients" : http://insurancenewsnetmagazine.com/article/how-to-get-more-dream-clients-in-2016-3026#.WWtwldPytUQ Tversky & Kahneman: http://www.newyorker.com/books/page-turner/the-two-friends-who-changed-how-we-think-about-how-we-think http://www.vanityfair.com/news/2016/11/decision-science-daniel-kahneman-amos-tversky Moneyball scene referenced in the Podcast (the expert syndrome): https://www.youtube.com/watch?v=pWgyy_rlmag Rank The Risk: https://www.floridamuseum.ufl.edu/fish/isaf/what-are-odds/risks-comparison/risk-death/ https://www.floridamuseum.ufl.edu/fish/isaf/what-are-odds/risks-comparison/sand-holes/

LinkedIn profile;  https://www.linkedin.com/in/frank-sweeney-272282b9/ OnRisk: https://www.onrisk.com/HowOW1.html offshore reinsurance: http://www.iii.org/publications/commercial-insurance/reinsurance more offshore reinsurance: https://www.statista.com/statistics/217283/us-reinsurance-premuims-ceded-to-offshore-reinsurers/ Top US reinsurers: https://www.statista.com/statistics/260954/leading-american-reinsurance-companies-by-gross-premiums-written/