In this insightful episode of RiskCellar, hosts Brandon and Nick delve deep into the evolving world of litigation finance with special guest Nick Rowles-Davies, CEO of Lexolent. Nick shares his extensive experience across the UK and international litigation finance landscape, highlighting the industry's foundational purpose: enabling access to justice for those who otherwise could not afford to pursue valid claims. The conversation covers the broad spectrum of litigation finance, from consumer funding and law firm lending to high-stakes commercial disputes, and the stringent underwriting processes that ensure careful risk management.

The discussion compares the UK and US legal systems, exploring the impact of adverse cost rules in the UK versus juries and nuclear verdicts in the US. Recent regulatory developments, including Arizona's pioneering mandatory disclosure requirement for litigation funding, are considered. The episode also highlights how technology and AI are transforming case identification and underwriting. Listeners gain balanced perspectives on litigation finance's role as a driver of fairness and disruption within the legal and insurance landscapes.

Key Takeaways:

1. Litigation finance began as a vehicle for access to justice.

2. Multiple types exist: consumer, law firm, and commercial funding.

3. Rigorous due diligence leads to funding very few cases.

4. UK’s “loser pays” deters frivolous lawsuits, unlike US approach.

5. Arizona’s disclosure rule promotes funding transparency.

6. Litigation finance in US is a small but growing industry.

7. AI and tech play increasing roles in deal sourcing and assessment.

8. Collaboration with insurers aligns interests.

9. Litigation finance can facilitate fairer outcomes and longer negotiations.

10. Transparency and regulation are essential for credibility.

11. Social and legal differences affect litigation finance globally.

12. Legal technology promises further evolution.

13. Challenges remain regarding lawsuit inflation and insurance impacts.

Episode Chapters:

00:00 Intro & sponsor message

05:00 Origins and purposes of litigation finance

15:00 Types of funding and underwriting approach

25:00 UK vs US legal system differences

35:00 Arizona’s funding disclosure and regulation trends

45:00 Technology & AI in litigation finance

55:00 Case examples and insurance ecosystem effects

65:00 Social influences & nuclear verdict concerns

75:00 Closing thoughts & outro

Connect with RiskCellar:

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

Guest: Nick Rowles-Davies

Lexolent Website: https://www.lexolent.com/nick-rowles-davies

Nick Rowles-Davies LinkedIn: https://www.linkedin.com/in/nick-rowles-davies/

Brandon Schuh:

Facebook: https://www.facebook.com/profile.php?id=61552710523314

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

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

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

Litigation financing is a field that can seem a bit complex, but at its core, it's all about helping people and businesses manage the financial strain that comes with legal battles. In this episode with Eric Schuller, president of the Alliance for Responsible Consumer Legal Funding, we got a clear picture of what consumer legal funding is really about. Unlike commercial litigation financing, which involves large sums of money flowing to law firms or corporations to cover hefty legal fees, consumer legal funding reflects smaller, more direct support. This funding helps everyday people cover their living expenses, think rent, mortgage, groceries, while their legal cases move through the system. Eric emphasized that the money given in consumer legal funding cannot be used to pay for the litigation itself, which is a vital protection designed to keep things transparent and fair.

On the flip side, commercial litigation financing is a much bigger beast, mostly involving companies funding lawsuits that can reach into the millions, like patent fights or other business-related disputes. The stakes and amounts are larger, and this sector is often criticized because it sometimes leads to complex conflicts of interest, especially when outside investors start putting money directly into law firms. Eric talked about how these big commercial deals have a vastly different risk profile and payment structure compared to consumer funding. The commercial side tends to have fewer but much larger investments, while consumer legal funding operates on a higher volume of smaller cases, supporting individuals who really need the financial bridge to get through tough times.

One of the key challenges discussed is the confusion in legislation that lumps these two types of funding together, which can lead to unfair restrictions and misunderstandings. Eric pointed out that legislation works best when it clearly distinguishes consumer funding from commercial financing. The consumer side is focused on protection and aid, while the commercial side is more about risk investment and business strategy. This clear separation helps protect consumers who rely on these funds for basic needs without hampering the potential regulation and oversight of the commercial financing world. It’s a constantly evolving space, with new laws and industry best practices emerging to ensure fairness, transparency, and responsible investment from both sides.

Takeaway List:

Distinction between consumer legal funding and commercial legal funding

Consumer legal funding supports household needs, not litigation costs

Commercial litigation funding involves large sums for business lawsuits

Consumer funding payout comes after attorney and lien payments

Consumer legal funding started in late 1990s; commercial in early 2000s

Chapters:

00:00 Introduction to Litigation Financing

02:00 Overview of Consumer Legal Funding

10:00 Differences Between Consumer and Commercial Litigation Funding

18:00 Eric Schuller's Insights on Consumer Legal Funding

30:00 Legislative Landscape and Consumer Protections

40:00 Commercial Litigation Financing Challenges

50:00 Disclosure, Regulation, and Industry Future

60:00 Role of Insurance and Risk Management

70:00 Closing Thoughts on Litigation Financing

Connect with RiskCellar:

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

Brandon Schuh:

Facebook: https://www.facebook.com/profile.php?id=61552710523314

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

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

Nick Hartmann:

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

We’re excited to kick off a new season of the RiskCeller podcast after a well-deserved break! In this episode, we not only catch up on personal adventures and favorite wines, but we also unveil a shift in our show’s format, moving beyond insurance industry news to tackle a wider range of timely topics and in-depth interviews. This fresh approach is about delivering a perfect mix of hard-hitting news and thoughtful, expert discussions for our listeners, whether you’re an insurance professional or just intrigued by the broader legal landscape.

One of the major issues we explore is third-party litigation funding and its destabilizing effects on the insurance sector. We discuss how litigation financing, where outside investors fund lawsuits for a slice of the settlement, has grown rapidly in the U.S., fueling what’s often called “social inflation.” This trend is creating complications for insurers by inflating the costs of claims and pushing up premiums for everyone, from homeowners to small businesses. Notably, the episode centers on our interview with Minnesota State Senator Judy Seberger, an insurance defense attorney leading efforts for more transparency and consumer protections in litigation funding. Her bill, SF-2929, aims to shine light on industry practices and guard against predatory lending in the legal system.

Throughout the episode, we reflect on the ripple effects that rising litigation costs have on insurance premiums and consumer experience. We compare trends across states, dig into the ethical and economic challenges posed by third-party funding, and debate if more states should follow Minnesota’s lead. Our ongoing mission is to clarify the impact of legal and insurance industry changes and share insights from credible guests. If you’re seeking fresh perspectives and actionable information on insurance, legal news, and consumer protection, you won’t want to miss this season.

Takeaway List:

• The podcast is changing its format to cover broader topics beyond just insurance.

• Litigation financing is destabilizing the insurance sector.

• Howden is making significant moves in the insurance brokerage space.

• Third-party litigation funding is a growing concern in the legal industry.

• Judy Seberger is advocating for transparency in litigation funding.

• The SF-2929 bill aims to protect consumers from predatory practices.

• Insurance premiums are affected by rising litigation costs.

• State legislation on litigation funding is evolving, with few states having robust laws.

• Social inflation is fueled by third-party funding in lawsuits.

• Industry experts like Chubb’s CEO are calling for ethical and systemic reforms.

• The podcast will feature more interviews with industry leaders and policymakers.

• Listeners can expect a mix of breaking news, analysis, and practical advice.

Chapters:

00:00 Welcome Back and Summer Adventures

05:27 Changes in the Podcast Format

06:52 Current Events and Legal News

13:54 Insurance Industry Developments

16:28 Deep Dive into Litigation Funding

26:23 Interview with Judy Seberger

56:05 Wrap-Up and Future Discussions

Connect with RiskCellar:

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

Guest: Judy Seberger

LinkedIn: Judy Seberger's LinkedIn Profile

linkedin.com/in/judy-seberger

Judy Seberger, State Senator, Minnesota Senate Official Page: senate.mn/members/member_bio.html?mem_id=1248

Email: [email protected]

Brandon Schuh:

Facebook: https://www.facebook.com/profile.php?id=61552710523314

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

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

Nick Hartmann:

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

Brandon Schuh and Nick Hartman dive into a mix of engaging topics, starting with some personal anecdotes about their recent travels and experiences with Airbnb. Brandon shares a cautionary tale about a less-than-ideal stay that underscores the importance of customer service in the hospitality industry. He highlights how Airbnb's support helped resolve his issue, showcasing the platform's commitment to customer satisfaction. Meanwhile, the duo engages in a light-hearted wine tasting segment, discussing their selections and offering humorous critiques.

Shifting gears, the conversation turns to the insurance industry, where significant challenges are unfolding. The hosts discuss the financial performance of AIG and Travelers, particularly in light of natural disasters that have led to substantial losses for major carriers. They reflect on Federal Reserve Chair Jerome Powell's recent remarks regarding the intersection of insurance and housing finance, emphasizing the growing difficulties in obtaining mortgages in disaster-prone areas as insurers retreat from high-risk markets. This discussion sets the stage for a broader examination of how these trends are reshaping the insurance landscape.

The episode also touches on broker consolidation trends and recruitment challenges within the insurance sector. As insurtech companies continue to innovate and offer new solutions, the hosts contemplate the future of traditional insurance models. They conclude with cultural commentary on events like the Super Bowl and their impact on public sentiment and marketing strategies, reminding listeners of the importance of consumer safety in light of recent product recalls.

Key Takeaways:

• Brokers should focus on their core competencies rather than billing.

• Personal experiences can highlight the importance of customer service in hospitality.

• Airbnb's support can be crucial in resolving disputes.

• Wine ratings can be subjective and vary between individuals.

• The future of Tesla may be uncertain due to market dynamics.

• Insurance companies are retreating from high-risk markets.

• Natural disasters are impacting the financial performance of insurance companies.

• AIG's recent earnings reflect the challenges of underwriting in a volatile environment.

• The insurance industry is undergoing significant shifts in response to market pressures.

• California wildfires have led to substantial losses for major insurance carriers.

• The insurance industry is experiencing a slowdown in mergers and acquisitions.

• Recruitment in the insurance sector is becoming increasingly competitive.

• Insurtech companies are actively seeking to innovate and provide solutions.

Chapters:

00:00 Post-Trip Reflections and Client Experiences

03:02 Airbnb Experience: A Cautionary Tale

06:46 Wine Tasting and Ratings

10:06 Elon Musk and the Future of Tesla

13:09 Insurance Industry Shifts and Challenges

18:27 AIG's Financial Performance and Natural Disasters

20:16 Leadership Changes at AIG

21:11 AIG's Historical Context and Current Position

22:35 Impact of California Wildfires on Insurance Companies

24:11 Foreign Ownership in China's Insurance Market

26:30 Broker Consolidation Trends

28:03 Recruitment and Talent Acquisition in Insurance

30:51 Market Outlook and Insurtech Innovations

32:49 Cultural Commentary: Super Bowl and Entertainment

36:48 Product Recalls and Consumer Safety

Connect with RiskCellar:

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

Brandon Schuh:

Facebook: https://www.facebook.com/profile.php?id=61552710523314

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

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

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

In this fascinating discussion with Sean Flood from Ride Today we chat about his journey in the ever-evolving world of mobility, from his early days in electric rideshare to his current ventures in Ireland. It's always interesting to hear how entrepreneurs navigate the ups and downs of an industry, especially one as dynamic as micro mobility. Sean's insights on hardware sales and subscription models really highlight the innovative spirit driving the sector forward.

One of the key themes we explore is the impact of tariffs on the mobility industry. Sean brings a grounded perspective, emphasizing how tariffs can drive inflation and affect pricing. It's not just about the political side of things; it's about the real-world consequences for businesses and consumers. We also delve into the evolution of micro mobility, from the early days of scooter dumping to a more strategic and community-integrated approach. It seems like the industry is finally finding its footing, with less public resistance and more focus on sustainable growth.

Looking ahead, we get into the exciting possibilities of robotics and even personal aerial transportation. It's wild to think about the future of mobility extending beyond traditional vehicles to include delivery bots and maybe even personal bubble devices. Sean's vision really paints a picture of how innovation and technology could transform the way we move goods and services. It's clear that the definition of mobility is expanding, and the potential for growth is immense.

Takeaways

*   Ascend automates premium financing and collections.

*   Sean Flood has a long history in micro mobility.

*   The move to Ireland was prompted by a family decision.

*   New ventures in mobility focus on hardware sales and subscriptions.

*   Tariffs can drive inflation and impact pricing in the mobility sector.

*   Micro mobility is evolving with less public resistance.

*   Innovation in mobility is expected to grow significantly.

*   The definition of mobility is expanding to include goods transportation.

*   Personal aerial transportation could be a future reality.

*   Stability is crucial for entrepreneurs in the mobility space.

*   Litigation has significantly increased post-COVID, making it challenging to analyze trends.

*   Battery safety regulations are becoming crucial due to the rise in fires caused by unsafe products.

Chapters

*   00:00 Revolutionizing Payments in Insurance

*   01:19 Sean Flood's Journey in Micro Mobility

*   02:42 Transitioning to Ireland and New Ventures

*   04:03 The Future of Mobility: Strategies and Innovations

*   06:00 Impact of Tariffs on the Mobility Industry

*   14:04 The Evolution of Micro Mobility

*   18:21 The Future of Mobility: Robotics and Aerial Transportation

*   21:11 Litigation Trends Post-COVID

*   24:53 The Impact of Battery Safety Regulations

*   26:10 Wine and Risk: A Personal Touch

*   30:11 Navigating Tariffs and Trade Relations

*   34:24 AI and the Future of Jobs

*   38:09 Sovereign Wealth Funds: A New Frontier?

*   44:01 Product Recalls and Consumer Safety

Connect with RiskCellar:

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

Sean Flood:

Ride Today Linkedin:https://www.linkedin.com/company/ridetoday/?originalSubdomain=ie

Brandon Schuh:

Facebook:https://www.facebook.com/profile.php?id=61552710523314

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

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

Nick Hartmann:

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

In the latest episode of Risk Seller, hosts Brandon and Nick emphasize the **growing necessity for private security** in light of alarming incidents, notably the assassination of United Healthcare CEO Brian Thompson. This tragic event has triggered a reevaluation of security protocols for executives, highlighting that many high-profile leaders often travel without adequate protection. The discussion reveals that while some executives may decline security details, this decision can lead to significant risks, underscoring the need for companies to prioritize protective measures amidst rising threats from both physical and cyber domains.

The conversation also delves into the **MGM data breach settlement**, where the company agreed to pay $45 million following two major cyberattacks that compromised sensitive information of approximately 37 million customers. This case illustrates the broader implications of cybersecurity in corporate governance, as companies face increasing pressure to safeguard data and respond effectively to breaches. The hosts discuss how such incidents can lead to heightened awareness and knee-jerk reactions regarding security investments, particularly during economic downturns when budgets for these measures are often slashed.

Additionally, the episode introduces innovative solutions like the **Shadow app**, designed to connect consumers with security providers efficiently. This reflects a trend towards leveraging technology to enhance safety measures in a rapidly evolving landscape where social engineering and human factors significantly contribute to security vulnerabilities. The hosts argue that understanding these dynamics is crucial for preventing future tragedies and ensuring that safety and security are recognized as essential investments rather than mere costs.

Takeaways

Sources:

Time Stamps

00:00 Introduction to Risk Seller and Guest Introduction

10:46 The Importance of Private Security

23:10 Response to Security Incidents and Best Practices

24:41 The Value of Safety and Security

25:39 Understanding Social Engineering in Security

30:13 Human Factors in Security Risks

32:13 The Evolution of Security Solutions

34:06 Introducing Shadow: The Uber of Security

36:15 Global Expansion and Market Strategy

37:58 Building a Marketplace for Security Products

39:25 Humor in Fraud Cases

44:25 Fitbit's Recall and Consumer Safety

Connect with RiskCellar:

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

Brandon Schuh:

Facebook: https://www.facebook.com/profile.php?id=61552710523314

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

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

Nick Hartmann:

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

We explore the intricate dynamics of risks, policies, and politics. We kick off with a candid conversation about the burdens of managing billing and payments in the brokerage industry, and the innovative solutions that are streamlining these processes. Our discussion then takes a lively turn as we unpack recent political events, including observations from a high-profile inauguration and the behavior of prominent figures such as Mark Zuckerberg. We explore broader political themes, touching on the energy crisis and its impact on prices, and the pressing need for political leaders to transition from perpetual campaigning to effective governance. Additionally, we examine the implications of recent presidential pardons, contemplating their motivations and potential effects on national unity.

Shifting our focus to industry trends and global expansion, we analyze the dynamic landscape of the insurance and brokerage sectors. Discover how private equity-backed brokers are dominating acquisition deals, especially in acquiring smaller, regional agencies, despite a decline in large-scale acquisition activity. We explore the latest trends in reinsurance, with a noted decrease in property catastrophe rates and the continued growth of insurance-linked securities. The conversation also covers the shift of business from admitted to non-admitted markets, particularly in California and Texas, and the plateau in rate growth despite high submissions. We touch on securities class actions and their potential impact on Directors and Officers (D&O) pricing, while also considering the potential for global brokers like Howden to expand into the US market.

In our final chapter, we tackle privacy concerns in consumer data and home safety. We highlight the unique quirks of flying Southwest Airlines and transition to the New York taxi insurance market, noting the recent bankruptcy of ATIC and Governor Kathy Hochul's legislative response. Our skepticism about the effectiveness of these efforts leads to a discussion on the potential for legal action by taxi drivers with unpaid claims. We also address a GM settlement over improper use of geolocation data, sharing personal experiences with Carfax and its impact on vehicle trade-in values. To wrap things up on a lighter note, we share our change of heart about Dry January and indulge in our choice of wine for the evening, Mayoma, before concluding with a humorous reflection on life expectancy and aging.

Time Stamps

00:00 Revolutionizing Insurance Payments with Ascend

01:36 Trump 45 vs. Trump 47: Inauguration Drama

02:52 Morbid Presidential Speech Analysis

03:58 Gas Prices and Inflation: Are Companies Profiteering?

06:01 Biden's 6,000 Pardons: Controversy or Compassion?

09:15 TikTok Shutdown Hysteria: Is It Justified?

10:10 Insurance M&A Activity Hits Lowest Since 2017

14:21 California and Texas: Surplus Lines Market Boom

16:00 Rise in Class Action Lawsuits: Impact on D&O Pricing

18:50 Global Brokers Eyeing the US Market: Threat or Opportunity?

23:12 New York Taxi Insurance Market in Chaos

27:10 Carfax Controversy: Who Owns Your Driving Data?

29:15 Smoke Detector Recall: 328,000 Units Fail to Alert

Connect with RiskCellar:

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

Brandon Schuh:

Facebook: https://www.facebook.com/profile.php?id=61552710523314

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

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

Nick Hartmann:

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

In this exciting episode of "Holiday Mishaps, Futuristic Tech, and Fires: A Rollercoaster Podcast Adventure," we dive headfirst into a whirlwind of experiences, from the chaos of holiday mishaps to the awe-inspiring innovations showcased at the Consumer Electronics Show. This episode is packed with humor, insights, and intriguing discussions that promise to keep you engaged from start to finish.

Unexpected Holiday Adventures

We've all experienced holiday chaos, but this episode kicks off with tales of unexpected winter woes that disrupted festive plans. The hosts share personal anecdotes of canceled parties and illness, painting a vivid picture of the unpredictability that often accompanies the holiday season. These relatable stories set the stage for a lively conversation about the rollercoaster ride of emotions that define holiday gatherings.

Futuristic Tech Wonders

The conversation takes a futuristic turn as the hosts recount their visit to the Consumer Electronics Show. From AI-driven pool cleaners to X-Peng's revolutionary electric vehicle that transforms into a collapsible helicopter, the tech marvels on display are nothing short of extraordinary. The excitement is palpable as they explore the future of transportation and the endless possibilities that innovation brings to our lives.

Sobering Reality of Wildfires

Shifting gears, the podcast delves into the sobering reality of the LA wildfires. The hosts discuss the extensive destruction, and the resilience of communities determined to rebuild. They examine the complexities of insuring high-value homes in fire-prone areas, highlighting the challenges faced by homeowners and the insurance industry alike. Through these discussions, the episode underscores the delicate balance between nature's unpredictability and human resilience.

Balancing Seriousness with Laughter

Amidst the serious discussions, the hosts inject humor and lightheartedness, exploring topics like airport preferences and the role of AI in the insurance industry. They speculate on TikTok's future, imagining a possible Elon Musk twist, and engage in playful banter about the hypothetical scenarios of a Musk-Zuckerberg showdown. These moments of laughter provide a refreshing contrast to the episode's more serious themes.

Time Stamps

00:01 - Kicking off with humorous holiday mishaps, including winter colds and Texas weather disrupting festive plans.

08:02 - Introduction to a sober January, featuring the enjoyment of Olipop, a prebiotic beverage.

08:30 - A deep dive into the LA wildfires, discussing the scale of destruction and community resilience.

11:50 - Challenges in insuring high-value homes in fire-prone areas, highlighting coverage gaps and regulatory considerations.

24:04 - Lively discussions on favorite airports and AI's role in the insurance industry, touching on misconceptions and innovations.

30:00 - Speculation about a potential TikTok sale, with Elon Musk as a possible buyer, and humorous banter on the implications.

32:30 - Light-hearted debate on a hypothetical fight between Elon Musk and Mark Zuckerberg.

34:50 - Exploring alternative buyers for TikTok, including Kevin O'Leary and Oprah, while questioning the platform's retail value.

41:54 - Exciting announcement of Sandra's stand-up comedy tour and a potential change of scenery for future podcast recordings.

42:30 - Fun banter about smoke detector batteries and welcoming the new year, 2025, with camaraderie and joy.

Connect with RiskCellar:

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

Brandon Schuh:

Facebook: https://www.facebook.com/profile.php?id=61552710523314

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

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

Nick Hartmann:

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

Join us for an insightful conversation with Brian Falchuk, a revered figure in the P&C insurance industry, as he unpacks the intricate relationship between insurance and technology. With 25 years of experience to his name, Brian shares his perspective on the transformative power of telematics and the slow-burning evolution towards autonomous vehicles. As we navigate through these topics, Brian offers a captivating look at the industry's future, providing a compelling argument that the most significant changes may be on the horizon in the 2040s. This episode is a must-listen for anyone keen on understanding the dynamic shifts in auto insurance and the burgeoning role of technology.

Our discussion also takes a turn towards the automotive industry's transitioning strategies, especially how car manufacturers are rewriting the rulebook with subscription models and data-driven services. We explore the tug-of-war between insurers and original equipment manufacturers, contemplating a future where automakers might have more control over the insurance process itself. Drawing parallels with the music industry's subscription pivot, this episode encourages listeners to reconsider traditional notions of car ownership and what this means for consumer loyalty in a tech-driven world.

In a fascinating segment, we dissect the unique challenges Tesla faces in establishing a viable insurance model against the backdrop of high repair costs and a narrow product range. We also dive into topics like the implications of Arthur J. Gallagher's hefty acquisition of Assured Partners and the networking potential of platforms like LinkedIn for industry professionals. With a mix of humor and insightful commentary, we even touch on the excitement surrounding the United Healthcare case and our upcoming trip to the Consumer Electronics Show. This episode promises a rich blend of industry insights and engaging storytelling, perfectly punctuated with a light-hearted holiday cheer.

Timestamps

02:27 - Deliriously tired since 2 AM: A day in the life of Brian Falchuk

03:17 - The future of insurance: Thought leadership and pushing the industry forward

04:39 - Autonomous vehicles: Predictions, delays, and how the industry adjusts

06:18 - Tesla's robo-taxi announcement: A step forward or just marketing hype

07:10 - Will personal auto insurance become a thing of the past

08:51 - The distracted driving epidemic: Drivers of frequency and severity in claims

10:40 - Who owns the data? OEMs and the shifting power dynamic in insurance

11:05 - The subscription economy: Cars, insurance, and the future of ownership

16:27 - Tesla insurance: High costs, challenges, and what the numbers reveal

23:18 - Why diversified product portfolios matter for OEM insurance venture

27:16 - Should insurers partner with automakers to stay ahead

32:22 - How asking 'How might we?' can open up opportunities for innovation

Connect with RiskCellar:

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

Brandon Schuh:

Facebook: https://www.facebook.com/profile.php?id=61552710523314

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

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

Nick Hartmann:

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

Join us as we welcome our special guest, Lucas Urbisciaga from Argentina, to explore the fascinating world of premium financing and the standout services offered by our partner, Ascend. Lucas provides insights into how Ascend differentiates itself within the industry by delivering competitive rates and offering seamless digital access for both brokers and clients. Our discussion also takes a flavorful turn as we savor the rich taste of Argentinian wine, specifically Zuccardi from the Uco Valley in Mendoza, which Lucas recommends as one of Argentina's finest offerings. Together, we blend the complexities of finance with the cultural richness of wine, creating a unique experience for our listeners.

In our conversation, we explore a variety of topics, including the climate that makes Argentina's wine-growing regions, like Mendoza, comparable to California's, as well as the nuances of a 2019 Malbec. We also contrast different weather experiences between warm climates and the chill of Minneapolis. Reflecting on personal experiences, we share fond memories of living in Boston, its historic charm, walkable streets, and delightful Italian food scene, highlighting favorite spots like Mike's Pastry in the North End. These personal anecdotes tie back to our connections to Argentina and our work at Praxis, offering listeners a rich blend of experiences and shared interests.

As we transition into the realm of entrepreneurship and innovation, we chart the journey of creating AI-driven solutions for the insurance industry. We explore the founders' shared history at Harvard and their drive to tackle mundane industry tasks with technology, highlighting the role of Y Combinator in nurturing their ambitions. Listen in as we discuss the potential of AI to revolutionize the insurance sector, from streamlining operations to addressing concerns like data aggregation and analysis. We also touch on economic challenges in Argentina and their implications for the insurance industry, all while examining the irreplaceable value of human brokers amidst advancing technology.

Timestamps

00:00 - Guest Lucas introduces Argentinian wine and its connection to his heritage.

03:57 - Lucas discusses the similarities between Argentina’s Mendoza region and California’s wine biomes.

09:19 - Lucas shares how he discovered Bitcoin as a teenager to combat Argentina’s inflation.

12:50 - Lucas explains how he learned coding through Bitcoin mining at age 12.

16:32 - How Praxis uses AI to transform insurance processes into efficient workflows.

21:26 - Lucas describes his experience with Y Combinator and its focus on ambitious founders.

24:47 - The transformative potential of AI in standardizing and improving insurance operations.

31:00 - Lucas’s take on systemic risks in cyber security and the inevitability of breaches.

39:22 - Discussion on Argentina’s economic challenges and its impact on daily life.

46:18 - Lucas explains why early-stage startups should prioritize learning over rapid scaling.

50:15 - How Praxis is poised to redefine insurance workflows with data-driven AI.

Connect with RiskCellar:

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

Lucas Urbisaia

LinkedIn: https://www.linkedin.com/in/lucas-urbisaia

Website: https://www.praxos.ai/

Email: [email protected]

Brandon Schuh:

Facebook: https://www.facebook.com/profile.php?id=61552710523314

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

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

Nick Hartmann:

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