Spot On Insurance

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Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge.  Today, Nate Dingler, Client Services Liaison with Insurance Licensing Services of America, Inc. (ILSA) shares his dos and don’ts for address changes at the state insurance departments.  His secret for success: Don’t wait until your renewal is due to notify the DOI of an address change.  First, there’s usually a 30-day deadline to notify; and second, having an incorrect address on record can actually delay your renewal.

 And if you only learn one thing from this podcast, let it be this: You have to notify ALL states when you move, not just your resident state’s Department of Insurance!

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Raution Jaiswal is the Founder of InsuredMine, a technology company that makes insurance management both easy and intuitive. They developed an app that combines phone, text, and email connections, making it convenient for both agents and customers to use. Raution has over 15 years of experience in project management, project delivery, and professional consultation. He has provided IT Strategy and Consultation services for Fortune 500 companies and is a leader and mentor for both onsite and offsite team members.

Raution joins us today to share what InsuredMine is, what they have to offer agents and customers, and the problems their app solves. He describes his journey growing up in India, studying in the US, and working on Wall Street. He explains why he transitioned into a career in insurance and why he decided to start InsuredMine. Raution also discusses his thoughts on the startup boom in the insurance industry and what sets them apart from their competitors.

“Most great things we do not find. They find us.” - Raution Jaiswal

Today on Spot On Insurance:

• What his life was like growing up in India and working in the US.
• His thoughts on living and working in New York.
• The challenges he encountered growing up and in his career.
• What led him to work in the insurance industry.
• What InsuredMine is, its features, and how it works.
• The features their platform offers to users and the steps it streamlines.
• Who can use their app and why not everyone should download it.
• How they position themselves to stand out in a sea of startups.

Key Takeaways:

• You have to make it easier for both clients and agents to communicate with one another regarding insurance policies.
• An innovative insurance app should promote sales, boost engagement, study and interpret analytics, and be designed for mobility.
• An AI chatbot is only a quick solution for the most basic questions.
• If people have home insurance, they have a 60% chance that they will buy auto insurance from you.

Connect with Raution Jaiswal:

• InsuredMine
• Facebook
• Twitter
• 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!

Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge.  Today ILSA’s Annuals & Corporates Manager, Sabrina Slater shares her dos and don’ts for Secretary of State DBA filings and renewals.  Her secret for success: Depending on the state, you may need to file your DBA at the insurance department, SOS and/or county level.  Make sure you renew your DBA with the right regulator at the right time.

And if you only learn one thing from this podcast, let it be this: Don’t neglect DBA renewals.  You don’t want to lose the name recognition you’ve worked hard to create!

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Maksymilia Wandel and Jakub Dryjas are both part of Tensorflight. Tensorflight is a platform that provides instant and automated commercial property inspections powered by AI. Maksymilia is the Head of Key Account Management and holds two law degrees, which she obtained from the University of Miami and the University of Warsaw. Jakub is the Head of Growth and an experienced B2B Marketing Specialist, HR Consultant, and Sales Manager.

Maksymilia and Jakub join us today to share what Tensorflight is, how it works, and how insurance companies can benefit from their technology. They share their journey and experience in the insurance industry, how they met, and what prompted the founding of Tensorflight. They discuss the key differences in regulatory standards between Europe and the United States as well as why their main clients are American. Maksymilia and Jakub also explain how their technology gathers and interprets data in real-time.

“It’s not only the fact that you need to have complete and correct data, but it’s also about the time.” - Jakub Dryjas

Today on Spot On Insurance:

• Jakub's and Maksymilia's journey and how they got their start in insurance.
• Becoming part of Tensorflight and developing the technology.
• Why it was difficult to study law in the US versus Germany.
• How Jakub and Maksymilia met and began working together.
• The reason they started Tensorflight and why they chose to invest in property data.
• How Tensorflight works and how they work with clients.
• How the data they gather can be used by insurance and real estate companies.
• Regulatory hurdles in different countries and their compliance practices.

Key Takeaways:

• Employers are now valuing experience over education, so don't wait until you graduate to get hands-on experience.
• The current underwriting process takes too much time, and companies are losing clients.
• Persistence is necessary for startups.

Connect with Jakub Dryjas and Maksymilia Wandel:

• Tensorflight
• LinkedIn
• 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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Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge.  Today, Stefanie Cantu, Licensing Supervisor at Insurance Licensing Services of America, Inc. (ILSA), shares her dos and don’ts for license renewals.  Her secret for success: Be proactive.  States usually open the window for renewals 45 to 60 days before the license expiration date; take advantage of that time.

 And if you only learn one thing from this podcast, let it be this: If you do miss the renewal window, don’t write business on the lapsed license.  Take care of the renewal first.

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Shane Foss is the Founder and Chief Executive Officer of Hooray Health. Hooray Health is dedicated to providing affordable, primary healthcare services and medical plans for families with medical needs through a wide range of retail clinics and urgent care centers across the country. He has over 21 years of experience in executive positions within the medical industry. Shane started his career in the medical industry as a Surgical Technician for the United States Air Force in 1991. He obtained his Bachelor’s degree in Biology from the University of the Incarnate Word and his MBA in Business Administration and Management from Jesse H. Jones Graduate School of Management at Rice University. Currently, he is a board member, Orthopedic Surgical Technician, and OR Coordinator at Faith In Practice.

Shane joins us today to explain what Hooray Health is, their mission, and the services they provide to clients. He shares his journey from enlisting in the military to furthering his career in the healthcare industry. He explains the broken US healthcare system, his personal frustrations with it, and how his company was founded based on the system’s shortcomings. Shane also discusses how Hooray Health can benefit employers, how their platform works, and his thoughts on robot-assisted surgery.

“The paradigm in healthcare is there’s no correlation between cost and quality.” - Shane Foss

Today on Spot On Insurance:

• What led Shane to pursue a career in health insurance.
• His experience as a surgeon's assistant and how it inspired him to start his business.
• The business strategy they employed to make their services as convenient as possible.
• Why he became frustrated with the US healthcare system.
• Paying for healthcare services in cash vs with insurance.
• Health insurance statistics and providing services to those without insurance.
• The challenges of the limited market and their solution.
• How healthcare benefits impact employee retention rates.
• How their enrollment system works and why it’s convenient for employers.
• His thoughts on the DaVinci surgical system.

Key Takeaways:

• 1 in 5 Americans are sent to collections every year for an unpaid medical bill that's less than $600.00
• The problem is, most places still don't really have a cash price. There's not a consistent marketplace for cash right now.

Connect with Shane Foss:

• Hooray Health
• Phone: 8667-HOORAY

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!

Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge.  Today, Insurance Licensing Services of America, Inc. (ILSA) Annuals & Corporates Manager, Sabrina Slater, shares her dos and don’ts for catching up on past-due Secretary of State annual reports.  Her secret for success: understand the full scope of your corporate compliance obligations.  And remember, just because you’re not actively doing business in a state doesn’t mean you don’t need to file annual returns.

And if you only learn one thing from this podcast, let it be this: Don’t ever ignore a notice from the Secretary of State about past-due annual reports.  Respond immediately and ask for guidance, if needed.

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Bryan Falchuk is the Head of Growth at Hi Marley Inc, an InsurTech company that offers a communication tool for the entire insurance ecosystem. Their app is powered by AI and provides carriers with a seamless and modern communication experience for their clients. Bryan is also the author of The 50 75 100 Solution, where he helps the reader become the source of the solution when it comes to problems in relationships.

Bryan joins us to discuss how Hi Marley works, how carriers and their clients can benefit from this product and its potential outside the United States. He describes what the founders of Hi Marley are like and their notable achievements. He explains the need for a seamless way to communicate with customers in the insurance industry. Bryan also shares the importance of finding the right person to share your company’s message.

“Ultimately, your claims systems need to have a complete record of the communication.” - Bryan Falchuk

Today on Spot On Insurance:

• How he got started with Hi Marley and the career backgrounds of their founders.
• Why phone calls are no longer the best way to communicate with your team.
• Speeding up the claims process with Hi Marley.
• The type of claims that their product works really well with and an example scenario.
• How soon large carriers can use Hi Marley and the training involved.
• The companies that can use the software and its potential for international use.
• Beta testing results and plans for continued improvement.
• What to expect from his upcoming book.
• Getting the right person to relay your company's message.

Key Takeaways:

• You have to make sure your company’s representative conveys the message you want the people to hear.
• Being able to communicate with your team through an app that retains your conversations is better than a direct phone call.

Resources Mentioned:

• Ep. 79: Do A Day – To Achieve New Heights In Your Life & Insurance Career

Connect with Bryan Falchuk:

• Bryan Falchuk Official website
• Hi Marley
• Book: The 50 75 100 Solution

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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Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge.  Today, Tameika Johnson, Annuals & Corporates Supervisor with Insurance Licensing Services of America, Inc. (ILSA) shares her dos and don’ts for Department of Revenue Tax Filing Extensions.  Her secret for success: keep your dates straight.  Know when your fiscal year ends, the deadline for requesting a state-specific extension, and when the extension expires.

And if you only learn one thing from this podcast, let it be this: Even if you file for an extension, you still need to pay your minimum tax amount owed by the original due date.

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Sean Mulhern is an independent agent and the Co-Founder of GloveBox, an app designed to allow users universal access to all of their insurance documents regardless of carrier. More than just consumers, the app also helps agents and carriers increase client retention, reduce servicing costs, and boost brand visibility. Sean has extensive experience with customized insurance policies and building partnerships with mortgage brokers and real estate agents. He also has experience working with Apple as one of their brand specialists. 

Sean joins us to explain how the GloveBox app works, the problems it seeks to eliminate, and why the insurance industry has yet to see anything like it. He shares where he found his passion for working in insurance and why he left Apple. He shares how the public’s demand for a convenient way to manage their documents paved the way for GloveBox. Sean also describes the agencies they want to work with for the beta testing period. 

“Even if you're very good at managing your documents, it's insurance. We don't want to manage our documents that way.” - Sean Mulhern

Today on Spot On Insurance:

• How Sean’s fondness for technology and insurance began.
• The major pitfalls they found in the insurance industry and how they addressed those gaps.
• What GloveBox is and how it works to streamline insurance products to customers.
• The client needs that drove them to start the company and work on the app.
• The initial feedback they received from their beta testing period.
• Being pressured to release their product and why they're not in a hurry.
• The type of agencies they're looking for to beta test their product.
• His advice for other insurance professionals just entering the industry.

Key Takeaways:

• The likelihood that one carrier is your best bet for everything is just not likely.
• A lot of times, there is a disconnect in communication between the agent and the consumer.

Connect with Sean Mulhern:

• GloveBox
• Email: [email protected]
• 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!