EP. 280: How AI is Radically Changing the Future of Insurance (PROMO)
#podcast #insurance #business
EP. 280 - AVAILABLE AUGUST 2
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www.spotoninsurance.com
James Benham is an entrepreneur, technologist, pilot, speaker, CEO, and podcast host. He is the Co-Founder of TerraClaim, a company that offers the latest cross-industry data analytics and benchmarking solutions. He also co-founded SmartCompliance, a tracking software that streamlines everyday processes by insurance professionals and is the host of The Insuretech Geek podcast, a show dedicated to the latest insurance technology news and innovations.
James joins us to describe business management best practices, especially regarding short and long-term goals. He shares what it was like growing up in Louisiana with Luddite parents, where his passion for programming started, and how it ultimately led to pursuing an insurance career. He discusses the future of claims management and how AI can streamline the various processes involved. James also describes the emotional rollercoaster of selling a business and shares his best advice on how to handle it.
"You have to have a system that's prepared to handle a lot of unstructured data and structured data, and give you easy access to it." - James Benham
Today on Spot On Insurance:
What it was like growing up in Louisiana and being raised by Luddite parents
How James found his passion for programming
Pursuing a career in the insurance industry
Why James always wanted to play the guitar
Identifying when it’s the right time to sell a business
Why you become wiser after a recession
What James learned from his first start-up
The type of challenges James’ team helps their clients solve
The future of claims management
Improving existing claims technology and data analytics
What "Building Mad Scientists" is all about
Why no one actually has ‘spare time’
James' advice for effective business management
Key Takeaways:
Every claims adjuster out there applies discretion to everything they do.
You have to focus on the problems your company needs to address, not the next shiny object.
It tests your mettle when you're starting a business, especially when you’re barely breaking even.