Ep. 66: Steps to Working with an Insurtech Startup
Stephen Goldstein is a global insurance executive with over 10 years of experience in distribution, operations, auditing, market entry, and corporate strategy. He is the Managing Director at Pivot Ventures US, a company that advises Insurtech startups on their sales strategies and go-to-market initiatives to build meaningful and successful pilots and ventures. He is also a weekly Insurtech author for the Daily FinTech, a blog offering FinTech analysis and trends to over 20,000 subscribers across 130 countries.
Stephen joins us today to share an overview of what it means to work with an Insurtech startup. He explains why the insurance industry needs a tech facelift, the importance of adapting to current trends, and why the customer’s needs should dictate the kind of technology and system a company uses. He also shares some examples of companies that have done a great job at innovating their businesses and how they did it.
“Any experience, especially the ones that don’t work out, are going be the ones we learn the most from.” – Stephen Goldstein
What you’ll learn:
- How his career financial services began.
- How the crash affected the company and how they recovered.
- The three things that society is struggling to adapt to.
- How should an insurance company approach a startup?
- The mindset insurance companies need to have.
- What needs to change in the insurance industry to maximize the use of InsurTech?
- What can help the approval and pilot process?
- His role in bringing technology startups to foreign countries.
- Examples of companies that have embraced innovation for better customer service.
- Advice to those just entering the industry.
- Innovate from the customer backwards.
- Insurance companies should use technology in a way that makes people think they’re not buying insurance, but coverage on the day-to-day aspects of their life.
- Insurance is going to be not just about providing a product, but also an ongoing service; an ongoing value-add to customers.
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.