Ep. 176: Is B2B Distribution the Future of Insurance

by | Aug 4, 2020

Mitch Doust is the Executive Vice President at Cover Genius, a global insurtech company that provides protection for customers of the world’s largest online businesses. As Executive Vice President, he oversees the growth of their products and the company’s expansion across Canada, North America, and Latin America. Before working with Cover Genius, Mitch was also part of another insurance company for over five years and was in charge of strategy management and innovation.

Mitch joins us to discuss his thoughts on the future of insurance distribution and how Cover Genius fits into that kind of world. He shares what it was like growing up in Australia and what made him pursue a career in insurance. He explains how insurtech companies can still innovate despite strict regulations and the areas the industry can still improve. He discusses what it was like in New York when the pandemic started and how it is today. Mitch also shares advice for those who want to have an established career in insurance.

“Technology will be at the heart of providing access to better risk protection.” – Mitch Doust

What you’ll learn:

  • Who Mitch Doust is and what it’s like growing up in Australia.
  • Mitch’s experience in insurance, why he left, and why he returned.
  • What the insurtech environment is like in Australia.
  • Some of the challenges insurtechs face in any country.
  • How the industry can leverage existing data to provide the right products that adapt with customers.
  • How their platform works and how it gathers data for carriers.
  • The difference between launching an insurance company decades ago to how it is today.
  • Opportunities the industry can use to enhance product distribution.
  • How technology can greatly influence the way we distribute insurance.
  • Innovating systems and processes despite strict regulations.
  • What it was like when the pandemic began in New York and how it is today.
  • How newcomers in the industry can find success. 
Connect with Mitch

Key Takeaways:

  • Insurance companies have now shifted to building products for the customers and not the carriers.
  • Risk management and insurance products today rely almost 100% on data.

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.

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