Episode 2 | May 21, 2021

The Evolution of Agency Management Systems

Special Guest: Dennis Chookaszian

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In this episode of The Insurance Technology Podcast, the legendary Dennis Chookaszian returns to talk to Reid about the evolution of the agency management systems. Going back to the days when long hair and bell-bottoms were in fashion, Dennis walks us through the fascinating history of the management systems – from computer punch cards right up to today’s two insurance software titans, Applied Systems and Vertafore.

Episode Highlights

  • The early days of agency management with Hollerith punch cards (2:05)
  • Dennis’ involvement in the development of the management system (6:45)
  • Trying to put together a deal between Applied and AMS (11:09)
  • Some of the creative companies that were offshoots (16:18)
  • Core problems that still exist (24:58)
  • Insurance technology trends Dennis sees now (27:54)

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Guest Bio

Dennis Chookaszian

Dennis Chookaszian is an Adjunct Professor at the University of Chicago Booth School of Business and teaches courses in Corporate Governance. Before his professorship, he was with CNA Insurance for 26 years, serving as chairman and CEO for seven years, then chairman of the executive committee for three years. Prior to that, he was President for two years and CFO for 15 years. After CNA, he was chairman and CEO of mPower Inc., an internet financial advisory service. Prior to CNA, Dennis was a management consultant with Deloitte for eight years.

"Well, interestingly, as we tried to build it, what also became very clear after the first three or four meetings is that we had difficulty figuring out what to have for lunch, let alone what structure for six companies amounted for the system."

Dennis Chookaszian

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