The Building BITE

Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. The Building BITE host Mike Diercksen, CRIS, welcome Adam Stark, Co-Founder of Jet.Build.

Our episode begins with Adam walking us through his career from serving in the military to joining the Construction industry. Looking for a way to streamline his systems and noticing that the challenges he faced were industry wide, Adam teamed up with his fellow Co-Founder Joseph Shua-Haim to launch Jet.Build. Adam takes us on a quick tour of the platform while helping to note all the key stakeholders who shared a role in shaping the current system. When it comes to streamlining your integration strategy, Adam leaves us with these three takeaways.

1. Company Culture Surrounding Innovation: Search internally to identify the company values or potential blind spots when it comes to technology integration. There are quality solutions out there but buy in from the top down is a key element to successful integration.

2. How To Automate Your Day to Day: Speak with your team to learn about their day to day functions. Chances are that a technology is out there that can help automate some of these tasks enabling your team to be more efficient and focused on the big picture rather than being bogged down with tedious tasks.

3. Industry Specific Tech Does Not Have to Be Complicated: It is important to recognize that there are solutions out there today that are cost effective and geared towards easy integration. Much like the cell phone we all have in our personal and professional life, there are technologies available that are intuitive and do not require significant lift to get up and running.

To learn more about the Jet.Build platform and was to simplify our technology adaption, listen to our full podcast episode with Adam on “Simplifying Construction Technology Integration”

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Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. The Building BITE host Mike Diercksen, CRIS, welcome Jeff Caudill, CRIS, VP of Risk Management at The Haskell Company.

We begin the episode by discussing Jeff’s path from working with Toyota, and getting his feet wet in the insurance space, to eventually landing in the construction industry, bringing him to The Haskell Company. Jeff has been in the insurance space for 20-30 years now and ultimately made the move to bring The Haskell Company into a Single Parent Captive. As always, we look to provide our audience with three key takeaways and best practices and Jeff did not disappoint:

1. Patience: This is not a quick 30-day process, rather it could and should take up to 6 months. In that time, you should look to get comfortable with those who you are working with and make sure you do your homework.

2. Educate Yourself: There are plenty of pros but certainly some cons when it comes to forming a Single Parent Captive. The Best way to ultimately determine what makes the most sense for you and your firm is to really dig into the details and figure out where you can be successful. Once you do your homework and have a solid idea of what you want to accomplish you are ready to take the next step.

3. Just Do It: There are plenty of people who are afraid to take that first step but honestly what do you have to lose? I think if you are curious about captives, the best thing you can do is to dive in and learn as much as possible; you have nothing but positives to gain from exploring your options.

To learn more about how you can explore Single Parent Captives to better prepare your firm for the challenges ahead, listen to our full podcast episode with Jeff on “Maximizing the return on a Single Parent Captive”

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Podcast: The Building BITE

Episode: September 2023 U.S. Construction Outlook

Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. The Building BITE hosts Chris Epps, LEED AP and Mike Diercksen, CRIS, welcome Chief Economist for the Associated General Contractors of America of AGC, Ken Simonson.

Throughout the episode, Ken dives into AGC’s latest construction outlook and addresses hot topics in today’s climate, including the labor force, wages, and bid pricing. Ken dives into several compelling statistics throughout the episode, including what he believes will be the trend to look out for as we head into 2024.

To learn more about Ken’s latest construction report, listen to our full podcast episode with Ken Simonson.

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Links:

Connect with Ken on LinkedIn

View AGC’s website at https://www.agc.org/

Connect with Chris Epps

Connect with Mike Diercksen

Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. The Building BITE hosts Chris Epps, LEED AP and Mike Diercksen, CRIS, welcome Tyler James, Regional Vice President of Construction Property Midwest.

We begin the episode by discussing Tyler’s professional career, where he quickly realized corporate finance was not for him, and instead chose the path of insurance. Tyler digs in on the evolving marketplace where things are no longer the status quo, but a unique blend of opportunity and evolution. We break the discussion down to four main areas of growth, project size, materials, scope, and occupancy. Tyler leads us through these topics and imparts his 3 main takeaways for our audience.

1. Transparency Is King: It is so important to have true collaboration between carrier and insured, and transparency is vital to this. As Tyler states, he has never seen a carrier punish their insureds for sharing more information with them; it often leads to better understanding and preferred outcomes for all parties.

2. Understanding The “Why”: Tyler always tells his team to try to understand the “why”. When the underwriters are brought up to speed and understand the needs of the insureds, it allows them to better understand the project details and write more comprehensive policies.

3. Don’t Be Afraid To Pick Up The Phone: One of the best resources that insureds have is their broker and carrier, who typically have a wealth of experience for projects just like theirs. Tyler recommends insureds look to engage their brokers and carriers in a proactive way so that they can talk through any sticking points and collaborate on a resolution that will provide maximum satisfaction for all parties.

To learn more about how you can better prepare your firm for the opportunities ahead, listen to our full podcast episode with Tyler on “Accelerating Change in the Marketplace: The Evolution of Builders Risk Coverage”

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Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. The Building BITE host Mike Diercksen, CRIS, welcomes Michael Pepe, Northeast Managing Partner of Saxe Doernberger & Vita, P.C.

We begin the episode by discussing Michael’s path as a Construction Litigator and how he ultimately landed as the Northeast Managing Partner at Saxe Doernberger & Vita, P.C. Michael offers a wide array of experience and has unique insights into what makes Insureds successful when it comes to appropriately leveraging their insurance policies. Michael walks us through his best practices while explaining how insureds can use their policy to maintain project cashflow.

1. Understand your Coverage: This could mean working with Brokers or Internal Counsel depending on your firm. It is important to utilize all the resources at your disposal so that you can properly leverage your coverage. Most likely, the project team who will be triggering this coverage is not an insurance expert, this is an easy way to leverage existing experience and mitigate future issues.

2. Be Mindful of Notice Provisions: It is not enough to just know your coverage and what it would cover, a key component is the “when”. You need to understand your notice provisions as they will be the roadmap to properly executing a claim. Identifying the correct time to provide notice and when to bring in the carrier or outside help can be what makes or breaks a successful claim.

3. Train Project Teams for when Escalation is Necessary: You don’t know what you don’t know. As a Risk Manager or Internal Counsel, you need to prepare your project teams with instructions so that you are alerted to potential claims. Even the best process will fall short if the project team is unaware of their role and responsibility to elevate the notice internally. By providing this instruction, you are helping to remove the guess work for your team and maximize your timeline to assess and evaluate potential claims.

To learn more about how you can better prepare your firm for the challenges ahead, listen to our full podcast episode with Michael on “How Your Insurance Policy Can Help Maintain Project Cashflow”

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Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. The Building BITE hosts Chris Epps, LEED AP and Mike Diercksen, CRIS, welcome our panel Jake Concannon, VP at Gallagher, Kristen Weber, SDI Underwriting Officer at Liberty Mutual, and Inga Mackereth, Corporate Insurance Manager at Hourigan Construction.

We begin the episode by welcoming back our panel to the show, and encouraging our audience to check out their previous episodes on the podcast. Our guests waste no time breaking down what is identified as our three stages of a successful partnership - Implementation, Management, and Claims. From there, we get into greater detail on the nuances of making this partnership work when the panel discusses their top 3 takeaways from the experience:

1. Set a Goal: This is not a simple process, but it is important to have some internal goals and begin establishing open lines of communication with your broker and senior management. By establishing your goals for the program and displaying a commitment to the partnership necessary to achieve them, you will be well on your way to building out a successful program.

2. Take Every Opportunity to Engage: Everyone is busy and it can feel like there is not enough time in the day to get to everything. That said, when a industry partner is asking to connect and come see a jobsite, that is their way of showing interest and wanting to take that first step in building a meaningful professional relationship. Taking the time to engage early on helps build that rapport which will pay dividends down the road.

3. Engage Operations: Take time to engage with the operations and field teams within your organization. These people are serious builders and may or may not fully understand the insurance and risk management portion of the business as it is not part of their day-to-day work. That said, by engaging with these men and women you will have the opportunity to see where there may be a lapse in communication, and opportunity to provide additional training internally.

To learn more about how you can collaborate and strengthen your industry partnerships, listen to our full podcast episode with our panel on “Successful Collaboration in the Construction Insurance Space”

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Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. The Building BITE hosts Chris Epps, LEED AP and Mike Diercksen, CRIS, welcome Nate Fuller, Founder and Director at Placer Solutions in.

We begin the episode by discussing Nate’s path from his experience at Bechtel, and what drew him to the field of innovation and technology for the Construction Industry. Nate credits most of this to being at the right place at the right time, as he was present in San Francisco when Bechtel began to push for greater innovation. Nate informs us about his process and how Placer Solutions is looking to better connect our thought leaders, and as always gives our listeners three excellent takeaways and best practices:

1. Understanding your field team: Understanding your field team should always be the first order of business and your top priority when rolling out new innovations and processes. “The field is where the money is won or lost” as Nate says, and if we do not fully understand the people in these roles, it is likely that the process and technology will fall flat and be limited in its impact.

2. Understanding the needs of these teams will change: Nothing about the construction industry is stagnant, and the needs of these teams are likely to change over time and from project to project. It can become a bit of a moving target when it comes to successful implementation, but understanding these nuances are key to success.

3. Map Technology to Your People, Not People to Technology: A key factor that is often overlooked, is making sure you are fitting the technology to your team and their needs, and not overhauling internally to fit the technology. There can be a lot to get excited about with the technology, but the most successful teams have to maintain focus on keeping their personnel front and center to maximize the technology, and not the other way around.

To learn more about how you can better prepare your firm for the challenges ahead, listen to our full podcast episode with Nate on “Construction Innovation, Creating a Pathway to Success”

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Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. The Building BITE hosts Chris Epps, LEED AP and Mike Diercksen, CRIS, welcome Josh Levy, Co-Founder and CEO of Document Crunch.

We begin the episode by discussing Josh’s path from University of Florida, where he understood he was less of a brick-and-mortar type construction professional, and more into the business of construction. Josh led a successful career and ultimately found himself inundated with contract review and questions while operating as in house counsel for a large GC in the Southeast. Josh was able to collaborate and co-create Document Crunch to empower the industry, and as always gives our listeners three excellent takeaways and best practices for how to better understand your contracts:

1. The contract does not have to be a black box: There is no need to treat the contract as this quagmire, we should instead be empowering our team to better understand them so they can help make informed decisions and protect the companies bottom line.

2. Data can be used to drive good decisions: We have gotten to a place where we have enough accumulated data to be able to use that knowledge to guide our decision making process. As Josh says, “Tomorrow starts today” and firms should be looking to leverage this information to enhance their current situation and lead them into the future.

3. We have an opportunity to transform the industry: There is a proliferation of technology and solutions now that have the ability to transform the construction industry. As leaders, we are charged with taking our industry from a place of being a bottom two digitized industry to one that is a more advanced and innovative space.

To learn more about how you can better prepare your firm for the challenges ahead, listen to our full podcast episode with Nate on “Empowering Everyone In Our Industry to Understand Their Contacts”

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Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. The Building BITE hosts Chris Epps, LEED AP and Mike Diercksen, CRIS, welcome Milena Russo, Associate at AXA XL’s Construction Eco System.

We begin the episode by discussing what drew Milena to the Insurance industry, eventually landing her at the AXA XL Construction Ecosystem. From there, Milena helps us to understand the connection between the innovative process and the underwriting team. While diving into our topic of bridging the gap between underwriting and technology, Milena gives our listeners three excellent takeaways and best practices when partnering innovation with underwriting:

1. First and foremost, it is about being a partner in risk: Good relationships require give and take, and the ecosystem is a great way for us to be more than just a carrier who pays claims. By taking on this partnership, both parties are engaging in the risk, and growing together through the project.

2. These solutions are tailor made: The current market is robust but can sometimes leave insureds feeling like they are being “broad brushed” with their coverage. What this process ultimately does is allow us to take a deeper dive with the insureds and create a tailored approach which is designed to maximize the way they do business.

3. The end goal is for sustainable growth: The goal is all about helping our contractors to become more proficient, moving forward into the future. Taking the time to invest in your risk and identify unique solutions is essential when growing the business sustainably and provides a win-win solution.

To learn more about how you can better prepare your firm for the challenges ahead, listen to our full podcast episode with Milena on “Bridging the Gap Between Underwriting and Technology”

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Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. The Building BITE hosts Chris Epps, LEED AP and Mike Diercksen, CRIS, welcome back Rose Hall, VP and head of Construction Innovation at AXA XL, and new guest Cutler Knupp, Managing Director of Dysruptek.

We begin the episode by discussing what initially drew each of our guests into the world of construction, with a focus on the technology and innovation side of the industry. It is a great discussion filled with problem solving and opportunity, featuring two different stakeholders coming together to solve complex industry issues. While there are many dynamic take aways from the conversation, Rose and Cutler give our listeners three key takeaways and best practices when looking to “Demystify Advanced Technology”:

1. You don’t know unless you try: Embrace the change! Historically our industry has been slow to adopt, but Cutler argues the cost of inaction is greater than the commitment to technological advancement. While there are inherent growing pains associated with this, it is best to “fail often and fail fast” as your company learns to navigate what works best for them.

2. Have a dedicated Innovation leader: It is imperative that you look to not only create a dedicated seat within the C-Suit for Innovation, but that you provide that person with adequate support from within. Having the proper mind set to align your risk, business, and innovation strategy is the only way to move forward successfully.

3. Look internally first: By starting with the hard questions and identifying internal issues that could be the most impactful for your firm. Try and identify these issues and if there are dedicated resources either internally or externally, and then initiate that conversation to see what could be done. Even the most advanced solutions begin with a first step, and this would be the ideal first step when looking to innovate.

To learn more about how you can better prepare your firm for the challenges and innovating opportunities ahead, listen to our full podcast episode with Tracy on “Demystifying Advanced Technology”

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