Run Time: 29:26
Disrupt Yourself
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Like a lot of insuretech founders, self-described programming geek Jason Kolb fell into the insurance industry - and loves it. It began with his working on technology to support a carrier book roll. Today, with Dais, his team built a platform enabling API connections. Agencies communicate with carriers and policyholders for a host of services (e.g. CSR responsibilities) and expertise (e.g. underwriting). "Agents are entrepreneurial, ambitious, competitive and they want to drive the industry," he says. In Jason's view, the traditional agency management systems should heed the evolving landscape. "When you're dominating the market, one of two things will happen. You will be disrupted, or you will disrupt yourself. It's painful because some of the revenue streams that have been profitable for a long time won't be in the future." The legacy players, he says, "have to make a decision. Will they be open or will they be closed?" Faced with technology pressure and insuretech options, Jason predicts more alliances and consolidation among carriers. "People will look at partnering more. Insurance is just a giant supply chain - one big layer of overlap."
