Spot On Insurance

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Safiya Reid is the Reporting Compliance Manager at PURE Insurance, a member-owned insurer and specialist group of companies. Before her work at PURE, Safiya served as the Director of Plaza Research, where she managed qualitative research projects, established and implemented procedures, and assisted in doubling the projected revenue for the company within the first quarter through innovative technology and operational initiatives. She has extensive experience in the Pharmaceutical, Merchant Processing, Radio, and Market Research industries in addition to insurance. Safiya received her Bachelor of Arts in Economics from Spellman College and went on to earn a Master of Arts in Communication from Georgia State University. 

Safiya joins us to share her professional journey from growing up in Brooklyn to her entry into the insurance industry. She shares her insights into networking and professional advancement and how to make your mark in any industry. Safiya also highlights how being your genuine self can impact your career trajectory and why you should continually invest in your professional development. 

“Be authentically yourself.” - Safiya Reid

Today on Spot On Insurance:

• Safiya’s upbringing in Brooklyn and what she loves about her current life and work in Atlanta.
• What Safiya’s career aspirations were at a young age and the program she credits for her development.
• What Safiya studied in university and insight on her college career, including her experience with being in a sorority. 
• Safiya’s experience with transitioning from retail to the insurance industry, and her professional growth journey with Pure Insurance.
• Why networking matters and Safiya’s approach to it. 
• The idea of a “reverse career fair” and why Safiya believes it is useful. 
• Community initiatives Safiya is involved with and how she invests in herself.
• Advice for students thinking of entering the insurance industry or pursuing any professional path.

Key Takeaways:

• Embrace every opportunity to take on new challenges and responsibilities within your company, as doing so is a chance to open doors that can lead to promotions and professional success. 
• Know when to say you don’t know the answer and be diligent with following up and finding the information you need.
• If you aren’t taking care of your brain, you won’t take in information - no matter how many professional development events you attend. Embrace self-care. 

Resources Mentioned:

• Legal Outreach

Connect with Safiya Reid:

• LinkedIn
• Instagram
• Email: [email protected]  

This episode was brought to you by…..

Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.

Connect, Learn, Share

Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!

Apple Podcasts Rate and Review for SpotOn

Zain Hasan is the Managing Director of Risk Strategies, a brokerage that provides risk management consultancy and insurance services. Zain is a serial entrepreneur and an expert in employee benefits. His success is attributed to his passion for fixing the broken healthcare system that is deeply embedded in the health insurance brokerage industry. As Managing Director, his responsibilities include reducing their total cost of risk as well as outsourcing every risk management activity.  

Zain joins us to share his journey of becoming a serial entrepreneur and what eventually led him to start his first company. He describes his journey from childhood to becoming the professional he is today, why he sold his first company, and the contingencies he put in place. Zain also discusses how his family influenced his decisions and why you should always have an advisory board if you can afford it.

“Passion comes from practice.” - Zain Hasan

Today on Spot On Insurance:

• What Zain's life was like growing up and the various hobbies, sports, and volunteer programs he participated in.
• When he decided to work in insurance and when it took off.
• The story involving a big account, a job interview, and their first client.
• Zain’s ideas on how he can improve healthcare costs.
• Why he decided to sell his first company and how it was sold.
• The criteria he considered when he sold his first company and how he benefited from selling it.
• How his family affected his business decisions.
• The kind of people he wants to work with.
• His thoughts on having an advisory board.

Key Takeaways:

• You can triple your money investing in private equity in five years if they're the right investment pieces.
• Having two people who have experience can save you from years of lost money and poor decisions.
• Without capital, you don't have the luxury of investing for two years to try to win a client.

Resources Mentioned:

• Think and Grow Rich by Napoleon Hill
• The Go Giver by Bob Burg
• The Outward Mindset by The Arbinger Institute

Connect with Zain Hasan:

• LinkedIn
• Phone: (954) 210 5300

This episode was brought to you by…..

Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.

Connect, Learn, Share

Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!

Apple Podcasts Rate and Review for SpotOn

Jason Andrew is the CEO of Limelight Health, a company that helps insurance providers automate and streamline sales through their platform. He has over 20 years of experience in executive management and leadership and was named one of 30 innovators to watch in 2019. Before founding Limelight, Jason held vice president and CEO positions in various tech companies throughout Silicon Valley.

Jason joins us today to discuss what Limelight can do to innovate the way insurance is sold and used by both sellers and buyers. He describes how he found success in Silicon Valley, why he’s passionate about working in the insurance industry, and what inspired him to become an entrepreneur. He explains how Limelight works and the automated services it provides. Jason also shares what he wants to see in new startups, how best to innovate the industry, and shares his advice to people that are thinking about starting a career in the insurance industry.

“All of us get what we get because of the relationships and the people who help us.” - Jason Andrew

Today on Spot On Insurance:

• How Jason changed his life for the better and when he started his career in insurance.
• Why he loves working in the insurance industry.
• When Jason started thinking about becoming his own boss.
• The trends he saw take place in the previous year.
• Why the insurance industry is slow-moving in terms of innovation.
• How the Limelight Health platform works and how carriers will benefit.
• The benefits and drawbacks of scaling a startup with outside funding.
• Jason’s plans on working with other groups and startups. 
• Advice to new professionals starting in the insurance industry.

Key Takeaways:

• For the first time over the last five years, there's been more money going into insurance than there ever has been.
• Pain is necessary on the way to success.

Connect with Jason Andrew:

• Limelight Health
• Email: [email protected]
• Phone: 650 533 387

This episode was brought to you by…..

Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.

Connect, Learn, Share

Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!

Apple Podcasts Rate and Review for SpotOn

Kirsten Bay is the CEO of Cysurance, a company that provides affordable cyber insurance to small businesses and their partners. They cover any form of cybercrime, from privacy breaches and identity theft to system damages. Kirsten has over 25 years of experience in risk intelligence, policy expertise, and information management. Some of her notable achievements include being appointed to congressional committees to develop cyber policies and provide recommendations for The White House energy policy.

Kirsten joins us today to share how Cysurance can act as your company’s personal Cyber Coach. She describes scenarios where cybercrime can put a company at risk and how Cysurance can help with that in short notice. She explains how her company works, the systems they have in place, and the services they guarantee to clients. Kirsten also discusses blockchain and how it can affect the cybersecurity landscape.

“It’s a huge process, and insurtech is really becoming the engine that’s driving the change in the insurance industry.” - Kirsten Bay

Today on Spot On Insurance:

• Kirsten’s dream career as a child and how it impacted her career choice as she got older.
• The different companies she's worked with.
• The financial impact of cyber risk.
• How the industry has innovated to reduce cybercrime.
• How technology enabled new skill sets to be learned.
• The unique way Cysurance is helping businesses.
• Why cybercrime can cost America billions of dollars.
• Why their system is user-friendly and can be used at home.
• Why ransomware victims shouldn't try to act by themselves.
• Examples of how their cybersecurity services work.
• Blockchain and how they can provide cybersecurity

Key Takeaways:

• It's very difficult to anticipate what criminals are going to do.
• We don't really know the true value of our companies.
• The data question is becoming the ultimate question because everything sits underneath it.

Connect with Kirsten Bay:

• Cysurance
• LinkedIn
• Twitter

This episode was brought to you by…..

Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.

Connect, Learn, Share

Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!

Apple Podcasts Rate and Review for SpotOn

Chester “Chet” Gladkowski is in charge of Customer Development at GoKnown, a company that describes itself as the next chapter in distributed ledger innovation and offers products and services that utilize blockchain technology. Chet is a recognized leader in insurance and IT, with extensive experience in providing strategic and practical insights. Some of his specialties include general technology trends, motivational topics, and insurance-related business and technology.

Chet joins us today to share how insurance companies should choose which tech to adapt into their organization. He describes how he found a career in insurance, how it changed his “boring” perspective of it, and why he considers it a noble industry. He explains what GoKnown can do and how they use blockchain to support their services. Chet also discusses why insurance companies will be at a turtle’s pace when it comes to choosing which new technology to use.

“The technology should match and follow the direction of the business.”- Chet Gladkowski

Today on Spot On Insurance:

• Chet's journey, his extensive career, and why he didn't become a teacher.
• The reason he joined the insurance industry.
• The funny story of why he wrote about Popeye's and Insurtech.
• How companies should choose technologies to fit their market.
• Blockchain and how it became the talk of the insurance industry.
• What legacy blockchain is and why it's not good for large companies.
• The problem with Bitcoin security and maintaining value.
• What the GoKnown company stands for and their focus.
• The benefits of working with their company and how they work with blockchain tech.
• Why the insurance industry specifically will take their time adapting to new technologies.
• Chet’s advice to those who are seeking gurus in the industry.
• Why insurance is one of the most noble industries to work with.

Key Takeaways:

• In insurance, it's all about people.
• There's no legal tender associated with Bitcoin.
• Adopting technology can be a struggle and you will have bumps in the road.

Resources Mentioned:

• Popeye’s Chicken, IT And Insurance blog

Connect with Chet Gladkowski:

• GoKnown
• Phone: (863) 676 2621
• Email: [email protected]
• LinkedIn
• Facebook

This episode was brought to you by…..

Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.

Connect, Learn, Share

Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!

Apple Podcasts Rate and Review for SpotOn

Will Duffy is a Chartered Financial Consultant (ChFC) for Accelerated Wealth, a wealth management firm that customizes wealth creation strategies for each client. He is the author of The Other Side of the Coin, where he talks about mortgages and compound interest. He is also a Retirement Income Certified Professional (RICP) and an Enrolled Agent (EA). The best testament to Will’s expertise on the subject of wealth creation and management is how he became a millionaire at 33. 

Will joins us to discuss the best ways you can take advantage of compound interest and wealth management before you retire. He shares where he found his passion for building wealth and explains some of the laws that can benefit business owners regarding tax benefits and tax avoidance. Will also describes the changes he enacted in his life that allowed him to become a millionaire at a young age. 

“Cookie-cutter approaches just don’t work in this day and age.” - Will Duffy

Today on Spot On Insurance:

• What his life was like while growing up and when he became passionate about wealth creation.
• His favorite sport and how it affected his college degree of choice.
• Why he has so many designations and what made him pursue them.
• The important aspects of financial planning that are often neglected.
• Reactive tax planning vs proactive tax planning.
• Financial strategies that can help businesses with tax benefits.
• Why most businesses fail today and what causes them to fail.
• Why working less is a significant event in people's lives.
• The different ways to properly exit a business as an owner.
• Why compound interest is at the center of wealth creation.
• What to expect from the book The Other Side of the Coin.
• How people can take advantage of the Roth IRA.
• The tax benefits Will now has after he moved to Puerto Rico.
• The changes that allowed him to become a millionaire at 33.
• His advice to those who want to become successful in this industry.

Key Takeaways:

• In a perfect world, you would begin planning for selling your business about two years before you sell.
• If you mess up the biggest purchase in your life, that's going to have a negative impact on your overall well-being for the rest of your life.
• As you grow, as you build businesses, you really need to be working on creating a team around you.

Resources Mentioned:

• Book: Nothing Down by Robert G. Allen

Connect with Will Duffy:

• Accelerated Wealth
• Email: [email protected]
• Phone: (720) 600-7070
• The Other Side of the Coin - Mortgages
• The Other Side of the Coin - Compound Interest
• Roths for the Rich

This episode was brought to you by…..

Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.

Connect, Learn, Share

Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!

Apple Podcasts Rate and Review for SpotOn

Michael Mensch is a Client Advisor and Managing Partner for Agency Brokerage Consultants. As a consultation company, they are experts in the valuation, sale, and acquisition of insurance distribution businesses. They work with retail agencies, wholesale brokerages, and program administrators. Michael has assisted in over 150 merger and acquisition transactions, as well as over 600 valuations of brokerages and insurance agencies. He is also a Certified Business Intermediary and a Certified Merger & Acquisition Master Intermediary.

Michael joins us to share how the business of agency sale and acquisition works. He describes the biggest changes in the insurance industry in the last decade and how agencies adjusted with the rise of insurtech. He explains how to determine the risk appetite of potential buyers and the impact of being underprepared. Michael shares some of their best success stories, as well as a few bumps in the road. He also shares valuable tips for those who may want to start an agency.

“Value is strongly driven by earnings in the business.” - Michael Mensch

Today on Spot On Insurance:

• What his life was like as a student to where he is today.
• The biggest change in insurance over the last 10 years.
• How traditional agencies are partnering with insurtech companies.
• What "not being prepared" in the industry means for agencies.
• Determining the risk appetite of your potential buyers.
• How long it takes to get a winning bid in their business.
• What it means to carry too much risk post-sale.
• Some success stories he's personally witnessed.
• The challenges they encountered in their business.

Key Takeaways:

• If you operate an agency, you need to have a separate trust account.
• The fastest-growing agencies and the most profitable agencies are all specialties.

Resources Mentioned:

• Podcast: Built to Sell

Connect with Michael Mensch:

• Agency Brokerage Consultants
• Email: [email protected]
• LinkedIn
• Blog: How to Pick the Right Lender for an Agency Acquisition

This episode was brought to you by…..

Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.

Connect, Learn, Share

Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!

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Chris Greene is the President of Flood Insurance Guru. As the Flood Insurance Guru, Chris provides flood insurance options that a lot of people didn’t know existed. More than flood insurance services, he and his group also strive to bring flood awareness and education to the world through video. Chris also hosts the Flood Insurance Guru podcast as another means of educating and raising awareness about flood insurance options. 

Chris joins us to explain how flood insurance works, its areas of coverage, some of the specific terms used in policies, and how to determine if you should get coverage. He discusses how flood maps work and how changes can affect flood insurance coverage. He describes the type of situations that qualify people for flood insurance. Chris also shares how they grew as a company and his success tips for new professionals in the industry.

“The closer you are to the flooding risk, the higher your premiums are going to be.” - Chris Greene

Today on Spot On Insurance:

• How Chris started his business in flood insurance.
• What it was like to grow up with a learning disability.
• Defining flooding in the US and what flood insurance covers.
• The only two situations that flood insurance pays out.
• Determining people who need or are qualified to get flood insurance.
• Why the government created the National Flood Insurance Program Forum.
• Do you still need flood insurance after you sell the house?
• How Flood Insurance Guru’s market their services to clients.
• Chris’ success tips to those just entering the industry.

Key Takeaways:

• Arizona has more floods than every other state in a given year.
• Almost 50% of low flood zone risks borrowers think they're ineligible and can't buy flood insurance.

Resources Mentioned:

• Federal Insurance & Mitigation Administration

Connect with Chris Greene:

• Flood Insurance Guru
• Podcast
• Facebook
• YouTube
• LinkedIn

This episode was brought to you by…..

Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.

Connect, Learn, Share

Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!

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Dave Davis is the Chief Technology Officer at Fudge Insurance, a family-owned, independent agency that offers custom-fit insurance policies to individuals, families, and businesses. Before joining Fudge Insurance, Dave spent 19 years with Intel as part of a cloud and data center support team. Because of his technical expertise, Dave’s responsibilities are focused on cloud service models, server design, and cybersecurity mitigation. 

Dave joins us to share the importance of having people skills and tech awareness in insurance. He describes what his life was like before becoming a technology professional, his time at Intel, and the reason why he joined the insurance industry. He explains some of the tech problems the industry faces and why he says independent agencies are overwhelmed.

“The best sort of technology happens organically and grows over time.” - Dave Davis

Today on Spot On Insurance:

• Discussing the earthquake that recently happened in Puerto Rico.
• Where it all began for Dave and when he joined the insurance industry.
• His time at Intel, his responsibilities, and why he left.
• How his family influenced the career he wanted to build.
• The time when he felt separation anxiety from being a technical person.
• How and why he began working in insurance.
• How the tech problems the industry was experiencing made him switch careers.
• Prioritizing work-life balance and family time.
• His realizations to the industry's relationship with technology.
• Why independent agencies are overwhelmed with new technology proposals.
• What a CTO does and his responsibilities at Fudge Insurance.
• The conferences he plans to attend in 2020.

Key Takeaways:

• It can take years to develop a base set of skills for people leadership and management.
• The independent agent channel is like the Wild West. Independent agency owners are overwhelmed with all sorts of new technologies.
• Insurance and technology are almost inseparable these days.

Connect with Dave Davis:

• Fudge Insurance
• Email: [email protected]

This episode was brought to you by…..

Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.

Connect, Learn, Share

Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!

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Vivek Sethia is the Co-Founder & Director at Beyontec Solutions, a software company and insurance solutions provider. The business has a core focus on customers with property and casualty business needs. Throughout his journey, Vivek gathered over 20 years of experience in business development, operations management, general management, and sales and marketing. As Director, he is responsible for Strategic Relationships and Sales. 

Vivek joins us to discuss what Beyontec Solutions offers its clients and what their suite of services can do to improve insurance businesses. He explains why Beyontec was founded and the problems they seek to solve for their clients. Vivek shares various reasons why businesses should choose Beyontec over other insurance solutions. He also discusses how they handle private data and their preventive measures from possible cybersecurity issues.

“There is a compelling need for the insurance industry to go as digital as possible.” - Vivek Sethia

Today on Spot On Insurance:

• Where Vivek grew up, his dreams as a child, and his business background.
• Why he chose to live in the US despite having been to other nations.
• The problems Vivek saw in the insurance industry that made him start Beyontec.
• Why carriers should choose Beyontec over other groups.
• What a typical client transaction would look like using Beyontec.
• The ease of transitioning from one system to theirs.
• The digital services they offer to clients and how they work.
• Cybersecurity and how they secure private data.
• The course of action Vivek suggests to principals and executives to ensure growth in 2020.
• How their system works and the services it automates.
• The analytics of cost-saving from the client's point of view.
• The mindset that newcomers to the industry should have.

Key Takeaways:

• Implementing automated insurance solutions is always a long term decision.
• Every possible technology company has a lot of focus on newcomers.

Connect with Vivek Sethia:

• Beyontec
• Email: [email protected]

This episode was brought to you by…..

Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.

Connect, Learn, Share

Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!