RHS 123 - Alex Bargmann on What It Takes to Innovate the E&S Market

Published: Nov. 4, 2021, 9 a.m.

b"PathPoint, the first open digital wholesale brokerage for the Excess & Surplus lines market in the insurance industry.\\xa0\\nSome people find E&S boring and difficult. In this episode of The Ryan Hanley Show, Ryan Hanley is joined by Alex Bargmann, CEO and co-founder of PathPoint. They discuss why this is no longer the case and why independent agents need to start taking notice of E&S business.\\xa0\\nDon't miss this episode...\\n\\nEpisode Highlights:\\n\\nAlex discusses how he got into the insurance industry. (6:13)\\n\\n\\nAlex mentions how it took him a long time to truly comprehend E&S underwriting and rating, and how the processes are significantly different. (10:51)\\n\\n\\nAlex mentions that they have executive support for putting products or providing capacity to PathPoint in order to digitize the wholesale distribution platform. (17:48)\\n\\n\\nAlex explains what he really likes about PathPoint. (21:54)\\n\\n\\nWhat were the most glaring challenges Alex knew he had to address, either immediately or later, in establishing PathPoint? (23:21)\\n\\n\\nHow difficult was it to get E&S carriers to return digital quotes? (29:17)\\n\\n\\nAlex explains that they are very specific about their appetite and making sure they are not just adding class codes for the sake of adding class codes. (39:17)\\n\\n\\nAlex talks about the first carrier they worked with. (44:25)\\n\\n\\nAlex and Ryan discuss agency billing and direct billing. (47:23)\\xa0\\n\\n\\n\\nKey Quotes:\\n\\n\\u201cOne thing I really liked about PathPoint where we were able to sort of figure out our differentiators, is like we didn't have to deal with this notion of do we go direct? Or do we go through agents?\\u201d - Alex Bargman\\n\\n\\u201cI think there's some value in being able to digitally quote business\\u201d - Alex Bargman\\n\\n\\u201cThe thing we were able to leverage is that we didn't actually have to convince them to automate underwriting because they had incidentally already done it by writing these binding authority guidelines.\\u201d - Alex Bargman\\n\\n\\nResources Mentioned:\\n\\nAlex Bargmann LinkedIn\\n\\nPathPoint\\n\\nReach out to Ryan Hanley\\n\\n\\n\\nLearn more about your ad choices. Visit megaphone.fm/adchoices"