Join us for an engaging episode as we explore the latest happenings in the insurance industry. We start with an in-depth look at Ascend, an innovative billing, collections, and accounting automation platform that is revolutionizing how retail brokers, MGAs, carriers, and wholesalers manage their repetitive tasks. From invoice creation to commission disbursements, Ascend's efficiency is transforming accounting departments, and we share our firsthand experiences with its benefits. Additionally, we lighten the mood by recounting our contrasting 4th of July celebrations—one marked by family sickness and the other by a picturesque trip to upstate New York, complete with wine selections to set the scene.

Next, we tackle the complexities of insurance industry acquisitions, focusing on a major brokerage deal and its market impact. We discuss the challenges large brokers face in achieving organic growth, driving them towards frequent acquisitions. This trend towards consolidation raises questions about competition and innovation in the industry. Shifting gears, we delve into the political landscape, offering critiques on the current presidential candidates and speculating on potential new contenders like Gavin Newsom. This segment provides insights into how these dynamics could shape future elections and the broader state of political discourse.

Our episode also covers the pressing challenges of cyber insurance and climate change, examining the increasing risks and discrepancies in cyber insurance pricing, and how climate change affects various regions and industries. We discuss the evolving property market, the rise of parametric insurance, and the role of insurers in promoting green technology. The conversation extends to geopolitical tensions, economic instability, and the vulnerabilities of global supply chains. Wrapping up, we share our thoughts on high-tech sound machines and the potential hazards leading to recalls, and even venture into future cosmic events and AI predictions, providing a fascinating blend of industry insights and personal anecdotes. Tune in for a well-rounded and informative discussion!

Timestamps

0:00 Introduction

2:15 4th of July update

4:43 Today's wines: Trentacoste Primitivo di Manduria and Altos las Hormigas Malbec

7:58 Today's topics

9:27 Breaking News: Marsch agency is buying Chicago's Horton Agency

12:56 Talking about USA election and debate

16:18 Other purchases by MMA

18:00 10 risks facing insurance article discussion

35:46 Cat bond record growth

38:27 Recall of the week: Hatch Baby power adapters

42:25 Fact of the week quiz

44:41 Searching about the next years on google image

Connect with RiskCellar:

Website: https://www.riskcellar.com/

Brandon Schuh:

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LinkedIn: https://www.linkedin.com/in/brandon-stephen-schuh/

Instagram: https://www.instagram.com/schuhpapa/

Nick Hartmann:

LinkedIn: https://www.linkedin.com/in/nickjhartmann/