In this episode of The Insurance Technology Podcast, Reid speaks to Thad Bauer, former Vice President and General Manager at Ivans, about abandoning the emphasis on industry standards, and how Thad plans to spend his newly entered retirement after 30 years in the insurance industry. Join Reid and Thad as they coin the term “insurtech debt,” and discuss the wild ideas they have for the future of insurtech because the question isn’t, 'what are we going to do?' the question is, 'what aren’t we going to do?'
Episode Highlights
- Maybe we don’t need an industry standard (1:14)
- #InsurtechDebt (6:00)
- What’s next for insurtech (49:36)
- How Thad plans to spend his retirement (15:09)
Guest Bio
Thad Bauer
Thad Bauer, Former Vice President and General Manager at IVANS, led the company’s Services and Support functions. He has 30 years of property and casualty experience and has played a key role in furthering the adoption of ACORD standards to exchange data within the industry to improve efficiencies. Prior to his role at IVANS, Thad was president and co-founder of NxTech, a leading provider of agency-MGA-carrier interface and data integration solutions. Prior to NxTech, he spent nine years with BWC Systems and IVANS, Inc., and has worked with more than 350 insurance carriers throughout North America.
“I think that artificial intelligence and machine learning is going to be such a big part of the insurance industry going forward. It's starting now already but I just think that's going to explode.”
Thad Bauer
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