Ep. 67: Balancing Innovation and Regulation
Nick Gregory is a member of the Akin Gump litigation practice. Akin Gump is an international law firm housing over 900 attorneys. Nick’s focus is on complex commercial litigation which covers areas of consumer class action defense, insurance litigation, and government investigations among others. He also provides sound advice to startups regarding regulatory issues with a focus on insurtech companies.
Nick joins us today to discuss the regulations that govern insurtech companies. He explains the regulatory issues that companies wishing to venture into the insurance industry encounters, and some of the common reasons why a few insurtech companies fail. He also shares his advice on how startups can attract investors.
“The industry knows it has so much opportunity to improve. It's just ripe for improvement.” - Nick Gregory
What you'll learn:
- Nick's professional experience as a litigator.
- The regulatory challenges he has experienced.
- What's the anti-rebate issue?
- The two cultures of the insurtech industry.
- The regulatory hurdles non-insurance companies have to go through
- Arguments for and against simplification.
- How the government can use blockchain for licensing.
- Why do some insurtech companies fail?
- What insurtechs should do to attract investors?
- His advice to those just entering the industry.
Connect with Nick
- There is a dual culture in the insurtech industry: The tech side and the highly regulated side.
- When the insured is denied coverage, if they think what they're being denied wasn't provided for in the contract then they're okay with that.
This episode was brought to you by
Insurance Licensing Services of America (ILSA), America’s premier regulatory compliance experts. To learn more visit ILSAinc.com.