“The claim is the moment where the insurance product or insurance company shines or fails.” - Brett Goldberg

(click to tweet)

Every company has a unique customer journey.

In most cases, the touchpoints exist at the time of payment, and there are clear exchanges of value. But with insurance, the equation isn’t so simple. We pay our insurance so that in case something happens, we can get the help and coverage we need.

That moment when a crisis occurs and we file our claim is the moment the customer truly interacts with the company. And that interaction may or may not have technology embedded in it.

So today, on FNO: InsureTech, we are joined by Brett Goldberg, the CEO at Spex to discuss the intersection of claims and technology. Spex is a platform that enables adjusters to essentially replace their clipboards and graph paper to more accurately document property inspections.

Tune in to this episode to hear Brett’s views on the what it takes to be a successful insuretech company, and where the future of insuretech is headed!

“The more preventative data you have—the better off you’re going to be.” - Brett Goldberg

(click to tweet)

The FNO: Tips

Make sure your technology isn’t just tech for tech’s sake, but rather solving real problems
At its core, the insurance industry operates as a financial institution, managing risk/reward
Claims are the moment when the insurance company/product either shines or fails
Solidify your company’s identity - product/service, technology, etc.
Very few technology companies know what they’re getting into when entering the insurance space
Attract strategic customers willing to get in front of the adoption curve with product benefits
Look at Hippo and Lemonade as examples of newer, edgier carriers
In property insurance, 80% of the claims volume is increasingly needing to be standardized in the way the data is captured
Sensory technologies (ex: measuring flood levels) will become critical in the years to come

Fourseventy Claim Management

www.470claims.com

Ep 2 - Brett Goldberg, Former CEO of SPEX

FNO: InsureTech