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 InterviewsMike Greene, the CEO and Co-Founder of Hi Marley, has a unique vision for the insurance industry.
“What if insurance were to become more ‘trusted’—and even ‘loved’—in the future?” he asked, back in 2017, when Carrier Management first contact him to ask about him to predict changes on the horizon for the insurance industry.
Contacted to take part in Carrier Management’s InsurTechs to Watch feature in September this year, Greene described the mission of Hi Marley—an AI-enabled texting platform—with similar words. “Our mission is simple—meeting insureds where they are and how they want to communicate helps make their insurance experience…lovable.”
Here, he predicts that Hi Marley and other InsurTechs will deliver tools to insurance agents and brokers that will enhance and empower them as they seek coverage for clients, rather than replacing them.
1. Describe your company and its mission. What does the company do?
Mike Greene, CEO and Co-Founder
“Our platform is an AI-enabled texting platform that bridges the conversation between insureds and the entire insurance ecosystem, from carriers to their support providers.”
Mike Greene, CEO and Co-Founder, Hi Marley: Our platform is an AI-enabled texting platform that bridges the conversation between insureds and the entire insurance ecosystem, from carriers to their support providers. Our mission is simple—meeting insureds where they are, and how they want to communicate helps make their insurance experience… lovable.
2. Who does your technology serve? (Agents and brokers only; Agents, brokers and carriers; customers directly, etc.)
Greene (Hi Marley): Carriers, agents, brokers, service providers and customers.
3. Who pays for the technology you offer? Is the cost considered commission income or a service fee?
Greene (Hi Marley): We follow a software-as-a-service model, with the cost being paid by those on our platform offering it out to their customers; for example a carrier would pay to use the tool to communicate with insureds and others, just as they would for their phone system or other solution.
4. Are you disrupting (replacing) or empowering traditional distribution?
Greene (Hi Marley): We believe in empowering the insurance industry rather than replacing it through disruption. We think the industry has done an amazing job for literally hundreds of years doing the really hard part of insurance—being there for people at their hardest moments with financial and genuinely-human support to get people back on their feet. As consumer needs and expectations continue to evolve as the do more and more digitally, we want to support the industry as it meets those evolving customer needs.
5. What should P/C insurance carriers know about you?
Greene (Hi Marley): The ideas of changing how you communicate, going digital, investing in AI or integrating with your core systems all sound like a lot—perhaps even too much to tackle. The good news is, there are ways to experiment, learn and implement flexibly, and in line with how you do business and your culture. We are all insurance people at Hi Marley, and we only serve this industry, which means we look at each carrier’s needs individually and with a deep understanding of the space. So, we tailor our solution to your needs.
6. Bonus Question: What does the future of commercial insurance distribution look like?
Greene (Hi Marley): Commercial property/casualty insurance is overwhelmingly distributed by agents and brokers, and we see that continuing. Rather than the end of the current distribution solutions, we see a variety of tools emerging to enhance and empower the experts in the industry who find the right coverage for their clients. This only serves to solidify agents and brokers as a flexible, responsive, expert to turn to when seeking coverage. Better communication solutions, like what we are building at Hi Marley, are some of the tools that help agents and brokers move forward.