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Run Time: 28:18
in On Point

InsureTech ‘Founded on Frustration’

The industry shouldn't be surprised by the massive investments in technology to revolutionize all pieces of the insurance ecosystem – from marketing and manufacturing to distribution and service. Insuretech player RiskMatch was “founded on frustration,” says founder and former broker Kabir Syed. He notes the frictional costs – multiple questions, touches and time – built into the current model are going to be reduced or eliminated. While he believes brokers “absolutely add value” and will continue as a powerful force for risk management, the way the industry manages commercial insurance will change dramatically. Listen as Kabir walks us through the changes under way. Carriers, agents, brokers and MGAs of all sizes will be impacted. Carriers will face the most disruption, he believes.

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