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Tech Not Enough without Subject Matter Expertise

Former broker and insuretech investor Phil Edmundson believes it’s “poor judgement to get rid of brokers, who are an efficient way to bring new products to the market.” Phil is CEO of insuretech Corvus, which uses data to predict and prevent commercial insurance claims. On this podcast, he encourages agents to analyze their books of business for sales opportunities. “Back in the days of the Graduate movie, the answer was plastics,” says Phil. “Today, for agents, the answer is data.” He predicts a future where more insuretechs build a team that is equally heavy in technology and insurance. “A lot of insuretechs don’t understand the broker world,” Phil says. “If they would understand the needs and hopes of the broker, and partner with them, that would be a great tool. We’ve seen some insuretechs fall flat on their faces in taking on the broker channel.”


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