Executive Interview - 3 of 15
This article is part of a series of interviews with InsurTech Executives involved in the distribution of property/casualty insurance about their missions, how they are changing the industry, and the implications for carriers.View All Interviews
Unlike other leaders we surveyed for our feature on InsurTechs to Watch involved with distribution, Roland Chan, CEO and Founder of FindBob, isn’t leading a company focused on addressing customer pain points in buying insurance and agents’ struggles related to the insurance sales and marketing process.
Instead FindBob helps insurance enterprises manage, engage, retain and acquire insurance distribution talent.
Carrier Management editors reached out to 15 InsurTech executives involved in the distribution of property/casualty insurance to ask questions about their missions, how they’re changing the industry and the implications for carriers. Chan provided these answers.
1. Describe your company and its mission. What does the company do?
Roland Chan, CEO and Founder, FindBob: Our mission is to empower the global financial services industry to take control of transition management. FindBob is an enterprise platform that’s accelerating transition behavior for insurance and financial service companies by focusing on the needs of agents and empowering the enterprise with a talent management operating system to protect and grow their book of business.
2. Who does your technology serve in the insurance industry? (Agents and brokers only; Agents, brokers and carriers; customers directly, etc.)
Chan (FindBob): Our approach is to boost engagement for agents and brokers around important practice management issues like continuity, succession, teaming, M&A and growth. We unlock insights on distribution behavior for the enterprise and provide a robust transition management platform that sits on top of existing processes so the home office is better equipped to retain, manage, engage, and recruit new talent at scale.
3. Who pays for the technology you offer? Is the cost considered commission income or a service fee?
Chan (FindBob): We partner with large carriers and distributors who pay a subscription fee for our service.
4. Are you disrupting (replacing) or empowering traditional distribution?
Chan (FindBob): For home office’s with existing practice management, teaming, and recruitment business units we’re complimentary. For agents and brokers, we’re an essential service to help them inorganically grow their book of business by providing education and opportunities to connect with other like-minded agents.
5. What should P/C insurance carriers know about you?
Chan (FindBob): For years, research has indicated that high numbers of P/C agents are planning on exiting the business in the not-to-distant future. FindBob is the breakthrough that will help retain and recruit to key books of business and arm your home office with the insights and tools necessary to address this problem at scale. We’re more than just a closed marketplace. We accelerate transition behavior by automatically calibrating risk and impact of loss within your distribution, help your organization identify talent gaps to improve decision making and drive business growth.
6. Bonus Question: What does the future of commercial insurance distribution look like?
Chan (FindBob): Fewer, more specialized agents and brokers empowered by technology.
Read about more InsurTechs to Watch (The Distribution Channel)