Meeting Title: Ian - Contextual - Brainforge Sync Date: 2025-12-03 Meeting participants: Mike Klaczynski, Farzad’s Note Taker, Uttam Kumaran, Holly Condos, Farzad Rezaassa, Jason Silver, iberrigan, Hannah Wang
WEBVTT
1 00:04:12.590 ⇒ 00:04:13.480 Uttam Kumaran: Hello?
2 00:04:13.880 ⇒ 00:04:14.850 Holly Condos: Yay.
3 00:04:14.910 ⇒ 00:04:16.350 Uttam Kumaran: Hey, how’s it going?
4 00:04:16.550 ⇒ 00:04:17.669 Holly Condos: Good, how are you?
5 00:04:18.029 ⇒ 00:04:20.619 Uttam Kumaran: Good, just gonna grab another coffee.
6 00:04:23.080 ⇒ 00:04:24.210 Holly Condos: iPad a day.
7 00:04:24.840 ⇒ 00:04:30.649 Uttam Kumaran: Yeah, it’s been good. We have a few more people starting this week, so just trying to spend some more time with them.
8 00:04:30.650 ⇒ 00:04:31.380 Holly Condos: Oh, yeah.
9 00:04:33.870 ⇒ 00:04:34.689 Holly Condos: Hi, Mike!
10 00:04:37.380 ⇒ 00:04:39.199 Mike Klaczynski: Hi, hi. Hey, Holly.
11 00:04:39.640 ⇒ 00:04:40.449 Mike Klaczynski: Hey, Tom.
12 00:04:40.450 ⇒ 00:04:41.070 Farzad Rezaassa: Oh.
13 00:04:41.690 ⇒ 00:04:42.540 Holly Condos: Aye.
14 00:04:42.980 ⇒ 00:04:43.539 Farzad Rezaassa: I am.
15 00:04:44.000 ⇒ 00:04:45.519 Farzad Rezaassa: Nice to meet you folks.
16 00:04:46.340 ⇒ 00:04:47.859 Holly Condos: You too. Where are you based?
17 00:04:48.120 ⇒ 00:04:49.980 Farzad Rezaassa: San Jose, California.
18 00:04:49.980 ⇒ 00:04:51.349 Holly Condos: I’m in San Diego.
19 00:04:51.500 ⇒ 00:04:59.900 Farzad Rezaassa: Oh, you’re… that’s the dream. To work in tech and live in San Diego, I think you’ve unlocked life’s, you know, most kept secrets, you know?
20 00:05:00.150 ⇒ 00:05:04.929 Farzad Rezaassa: This is my dream. My dream is to do the same, so one day, you know?
21 00:05:05.160 ⇒ 00:05:06.549 Holly Condos: Okay, good, cool.
22 00:05:06.550 ⇒ 00:05:08.340 Farzad Rezaassa: Yeah.
23 00:05:10.110 ⇒ 00:05:14.570 Farzad Rezaassa: Yeah, I can’t do the cold weather any longer, I need to migrate south, you know?
24 00:05:14.890 ⇒ 00:05:15.590 Holly Condos: Yeah.
25 00:05:16.180 ⇒ 00:05:18.099 Holly Condos: How is it there, like, now?
26 00:05:18.100 ⇒ 00:05:23.379 Farzad Rezaassa: I say cold, 60 degrees. Right. 60 degrees, and it’s too cold for me, yeah.
27 00:05:23.620 ⇒ 00:05:24.930 Holly Condos: Is it overcast?
28 00:05:26.180 ⇒ 00:05:27.800 Farzad Rezaassa: No, it’s sunny, it’s beautiful.
29 00:05:27.980 ⇒ 00:05:34.160 Farzad Rezaassa: It’s perfect, actually, but… I don’t know, my goal in life is to never own a jacket.
30 00:05:36.620 ⇒ 00:05:38.149 Mike Klaczynski: You might need to go further south.
31 00:05:38.410 ⇒ 00:05:40.260 Farzad Rezaassa: Yeah, exactly.
32 00:05:40.260 ⇒ 00:05:42.950 Holly Condos: Yeah, you still need a jacket here, though, in the winter.
33 00:05:42.950 ⇒ 00:05:43.700 Farzad Rezaassa: Yeah.
34 00:05:43.700 ⇒ 00:05:44.280 Holly Condos: Right.
35 00:05:45.540 ⇒ 00:05:46.340 Farzad Rezaassa: We see… Yeah.
36 00:05:46.340 ⇒ 00:05:47.660 Holly Condos: Cross now and then.
37 00:05:47.810 ⇒ 00:05:54.510 Mike Klaczynski: We went to San Diego for Christmas last year, and it was socked in for 4 days straight, and raining, and cold, so…
38 00:05:55.040 ⇒ 00:05:55.550 Holly Condos: outside.
39 00:05:55.550 ⇒ 00:05:56.350 Mike Klaczynski: jacket.
40 00:05:57.990 ⇒ 00:05:58.640 Farzad Rezaassa: Yeah.
41 00:05:59.600 ⇒ 00:06:01.750 Farzad Rezaassa: Yeah, probably one day.
42 00:06:02.060 ⇒ 00:06:10.430 Farzad Rezaassa: I’ll probably, you know, be in South America, trying to figure out how MCPs connect to something.
43 00:06:10.430 ⇒ 00:06:13.430 Uttam Kumaran: That’s the dream, yeah.
44 00:06:14.160 ⇒ 00:06:18.679 Farzad Rezaassa: Exactly Yeah, cool. Are we waiting for anybody else?
45 00:06:18.680 ⇒ 00:06:22.659 Uttam Kumaran: Yeah, I just messaged, Ian, seeing if he’s gonna hop on.
46 00:06:23.370 ⇒ 00:06:24.390 Farzad Rezaassa: Alright.
47 00:06:24.390 ⇒ 00:06:29.589 Mike Klaczynski: And then Jason, our sales leader, is gonna join as well. He’s got background in insurance, so he’s really interested in…
48 00:06:30.030 ⇒ 00:06:30.979 Mike Klaczynski: Collaborating as well.
49 00:06:34.980 ⇒ 00:06:36.910 Uttam Kumaran: Let me see, it just takes them.
50 00:06:48.560 ⇒ 00:06:50.240 Farzad Rezaassa: Tom, where are you located?
51 00:06:50.520 ⇒ 00:07:01.669 Uttam Kumaran: I’m in Austin, and it is actually very cold today, but it is usually very hot here, so it’s not… I grew up in the Bay Area, though, in the East Bay, so…
52 00:07:01.900 ⇒ 00:07:03.440 Farzad Rezaassa: When’d you move out there? What year?
53 00:07:03.440 ⇒ 00:07:07.339 Uttam Kumaran: 3 years ago. Actually, now, like, 3 and a half years ago, yeah.
54 00:07:07.650 ⇒ 00:07:09.949 Farzad Rezaassa: Nice. What is your favorite thing to do there?
55 00:07:10.870 ⇒ 00:07:19.300 Uttam Kumaran: Oh, that’s a good question. I love food, so we do eat a lot here. Go to a lot of restaurants, and I feel like it’s really growing here.
56 00:07:19.670 ⇒ 00:07:24.780 Uttam Kumaran: Otherwise, it’s just, like, spending time outside with a dog, and…
57 00:07:25.050 ⇒ 00:07:28.820 Farzad Rezaassa: You know, there’s just a lot of, like… it’s like a lot of, like, picking table, coffee shop.
58 00:07:28.820 ⇒ 00:07:31.569 Uttam Kumaran: Vibes here, so… You know.
59 00:07:32.610 ⇒ 00:07:34.729 Uttam Kumaran: They’re just doing nothing, really.
60 00:07:35.020 ⇒ 00:07:37.660 Farzad Rezaassa: Yeah, I love Red Ash. Have you been there yet? I’m sure you have.
61 00:07:37.660 ⇒ 00:07:40.000 Uttam Kumaran: I haven’t been to Red Ash, actually.
62 00:07:40.230 ⇒ 00:07:41.150 Uttam Kumaran: You know?
63 00:07:41.610 ⇒ 00:07:51.259 Uttam Kumaran: I live on the east side, so I wanted to go recently, but I used to live in New York, so here, Italian is not, like, the best.
64 00:07:51.480 ⇒ 00:08:00.980 Uttam Kumaran: So I’m not often, like… like, there’s other places where I’m like, okay, we should go to Red Ash or here, I’m like, oh, let’s just go there. We’ll hit Red Ash eventually, but okay, that’s a good…
65 00:08:01.360 ⇒ 00:08:03.539 Uttam Kumaran: Good to know, should try to go.
66 00:08:03.540 ⇒ 00:08:08.000 Farzad Rezaassa: I mean, in New York, you’ve, yeah, I don’t know, Red Ash… it’s still really good, but I mean.
67 00:08:08.000 ⇒ 00:08:08.430 Uttam Kumaran: Yeah.
68 00:08:08.430 ⇒ 00:08:10.300 Farzad Rezaassa: You’ve had the best, you know?
69 00:08:10.990 ⇒ 00:08:16.940 Uttam Kumaran: So, we’re gonna go eventually. There’s just… there’s so much new stuff here that it’s… it’s tough to…
70 00:08:17.110 ⇒ 00:08:18.759 Uttam Kumaran: It’s just tough to keep up.
71 00:08:18.960 ⇒ 00:08:19.920 Farzad Rezaassa: Totally, totally.
72 00:08:22.030 ⇒ 00:08:23.650 iberrigan: What’s going on, guys? How you doing?
73 00:08:24.270 ⇒ 00:08:25.059 Mike Klaczynski: Hi, Ian.
74 00:08:27.120 ⇒ 00:08:28.130 Uttam Kumaran: Hey, Ian, how’s it going?
75 00:08:28.500 ⇒ 00:08:29.460 iberrigan: Hey, man.
76 00:08:29.840 ⇒ 00:08:30.910 iberrigan: Doing well.
77 00:08:33.799 ⇒ 00:08:47.129 Uttam Kumaran: Cool, so maybe we could just do brief intros, Mike? Maybe we could… I mean, me, you, and Holly have spoken a bunch, but maybe you guys want to go first, and then I can… we can go, and then I can also introduce Ian, and we can kind of kick it off.
78 00:08:48.570 ⇒ 00:08:57.269 Mike Klaczynski: Yeah, absolutely. So, Ian, nice to meet you. We’re the team from Contextual AI. We started about 3 years ago, focused on
79 00:08:57.510 ⇒ 00:09:11.930 Mike Klaczynski: Retrieval augmented generation, and now more so agents and context engineering. Not sure how familiar you are with AR jargon, but essentially what we’re doing is we’re taking complex documents, like contracts, insurance paperwork, that sort of thing.
80 00:09:11.960 ⇒ 00:09:24.259 Mike Klaczynski: and then helping automate processes with that documentation. So, that’s kind of the super high-level, way of thinking about us. I joined Contextual about a year and a half ago. I used to work at Snowflake.
81 00:09:24.380 ⇒ 00:09:28.200 Mike Klaczynski: I manage Snowflake’s AI and ML technology partner ecosystem.
82 00:09:28.690 ⇒ 00:09:30.730 Mike Klaczynski: And, I’ll turn it over to Jason.
83 00:09:31.190 ⇒ 00:09:31.900 Jason Silver: Hey, guys.
84 00:09:32.130 ⇒ 00:09:38.919 Jason Silver: Jason Silver, I’m our Vice President of Global Revenue. I’m based here in Southern California. Been on board for a while.
85 00:09:38.980 ⇒ 00:09:54.769 Jason Silver: almost 10 months now. Before that, I was with an automation company and Salesforce and a couple different startups, so I’ve been in the software realm for quite some time. And actually, one of the companies I was with called Velocity, my team, actually, that I led was focused 100% on insurance, so excited about this conversation.
86 00:09:57.420 ⇒ 00:09:58.260 Jason Silver: Farzad?
87 00:09:59.020 ⇒ 00:10:06.900 Farzad Rezaassa: Yeah, Farzad, I’m based in Bay Area. I’ve been connected almost, I don’t know, 8 months now, and prior to this, I’ve worked at
88 00:10:07.040 ⇒ 00:10:16.999 Farzad Rezaassa: Google Cloud, Airtable, and various other business applications, helping modernize the way knowledge workers work.
89 00:10:19.790 ⇒ 00:10:29.880 Uttam Kumaran: Cool, and then I can go. I’m Utam, it’s nice to meet everyone. I’m CEO of Brainforge. We’re a data and AI consultancy, business I started, you know, about two and a half years ago.
90 00:10:29.900 ⇒ 00:10:54.759 Uttam Kumaran: Mentioned to Prasad, based here in Austin. And yeah, we’ve kind of known about the contextual product for a while, and we’re excited to try to, you know, get into some of our active customers and sort of do some joint go-to-market. On the AI side, we do a lot around general training and enablement, as well as building workflows, and more, you know, more recently, as customers are getting more sophisticated, building out agents and agentic applications.
91 00:10:55.020 ⇒ 00:10:59.120 Uttam Kumaran: And yeah, maybe, Holly, I’ll let you give an intro, and then we can pass it to Ian.
92 00:10:59.530 ⇒ 00:11:03.899 Holly Condos: Sure, so you heard I’m in San Diego, but I do go
93 00:11:04.080 ⇒ 00:11:07.019 Holly Condos: to the East Coast quite a bit, too. I have another house there.
94 00:11:07.220 ⇒ 00:11:11.089 Holly Condos: I’ve been in tech since, I don’t know, 2000?
95 00:11:11.340 ⇒ 00:11:14.010 Holly Condos: International and,
96 00:11:14.330 ⇒ 00:11:32.099 Holly Condos: stateside, government, commercial startups, and now I’m focused on helping companies like Brainforge get going with partnerships, etc. So, I’m happy to get going with you guys. I know, Mike, we’ve done some work already, and Jason and Farzad, good to meet you.
97 00:11:34.050 ⇒ 00:11:34.680 Jason Silver: as well.
98 00:11:35.980 ⇒ 00:11:37.380 iberrigan: Yeah, so.
99 00:11:37.380 ⇒ 00:11:53.219 Uttam Kumaran: Yeah, maybe Ian, I’ll just go maybe a little bit. Ian and I are actually close friends here in Austin. Kinda knows the journey I’ve been on, you know, trying to bring Brainforge to life. Originally, you know, we… about, you know, maybe a year and a half ago, we were talking a lot about AI and insurance.
100 00:11:53.220 ⇒ 00:12:07.069 Uttam Kumaran: I think we were much too early, but I actually think now is really, really, a great time, given, you know, where we are, where contextual is, and, like, where the appetite for customers are. So, yeah, maybe, you know, let me give a little bit of background.
101 00:12:07.100 ⇒ 00:12:12.409 Uttam Kumaran: In insurance, and then, yeah, we can kind of jump right into just sort of our agenda.
102 00:12:14.010 ⇒ 00:12:17.800 iberrigan: Yeah, so, my name’s Ian, currently…
103 00:12:18.210 ⇒ 00:12:36.300 iberrigan: Doing a little bit of both. I work for a large insurance brokerage, Turner Surety and Insurance Brokerage. It’s a subsidiary of the largest general contractor in the U.S, or one of the few larger ones. And then on the side, I actually run my own insurance brokerage as of the last few months.
104 00:12:36.300 ⇒ 00:12:40.639 iberrigan: Slowly transitioning that route, to be fully independent.
105 00:12:40.690 ⇒ 00:12:44.889 iberrigan: But, you know, had been good buddies with Utam for a while now.
106 00:12:45.000 ⇒ 00:12:56.799 iberrigan: And, excited to kind of try to bridge the gap with, like, AI capability and the mundane, repeatable tasks that people in my position face every single day, just to…
107 00:12:56.890 ⇒ 00:13:10.630 iberrigan: potentially get some business on the books. You know, it’s a very antiquated industry, as I’m sure all of us know on the call, and that screams opportunity in many areas, and in particular, the AI, and…
108 00:13:10.780 ⇒ 00:13:17.000 iberrigan: Making this… making this, business a lot faster and more efficient for all parties involved.
109 00:13:17.140 ⇒ 00:13:19.880 Uttam Kumaran: So, super interested in the conversation.
110 00:13:21.450 ⇒ 00:13:22.250 Mike Klaczynski: Excellent.
111 00:13:24.760 ⇒ 00:13:28.260 Uttam Kumaran: Yeah, Holly, I don’t know where if you wanted to start, or if you wanted to drive things.
112 00:13:29.100 ⇒ 00:13:32.439 Holly Condos: Sure. Ian, are you okay if we just…
113 00:13:33.400 ⇒ 00:13:36.140 Holly Condos: Go with the agenda that we provided.
114 00:13:36.140 ⇒ 00:13:39.130 iberrigan: Yeah, yeah, and feel free to…
115 00:13:39.290 ⇒ 00:13:47.730 iberrigan: go with the flow, bombard me with whatever kind of questions or… or anything. I love… I love being asked things I’m not prepared to answer.
116 00:13:49.840 ⇒ 00:14:01.590 Holly Condos: Okay, so first we had just an overview about the insurance industry and key trends that you’re seeing, and probably specifically in AI and ML.
117 00:14:02.700 ⇒ 00:14:04.770 Holly Condos: And how, you know, it relates.
118 00:14:05.850 ⇒ 00:14:06.710 iberrigan: So…
119 00:14:08.350 ⇒ 00:14:21.919 iberrigan: I mean, there’s… there’s different angles, right? So there’s… there’s insurance companies. I won’t be speaking from that end, because I’m not representing an insurance company. I am the broker, the middleman, the producer.
120 00:14:22.130 ⇒ 00:14:27.110 iberrigan: I represent a client, whether that be a business owner,
121 00:14:27.280 ⇒ 00:14:42.779 iberrigan: or a decision maker at a company, and helping them place insurance and stay compliant, protect their business, so forth. I represent them, and then I go to the insurance marketplace to procure that coverage and present it to the clients and
122 00:14:45.740 ⇒ 00:14:47.049 iberrigan: Get it all set up.
123 00:14:48.270 ⇒ 00:14:51.029 iberrigan: situated, so… What’s the screen?
124 00:14:51.030 ⇒ 00:14:51.950 Jason Silver: Mostly PNC.
125 00:14:51.950 ⇒ 00:14:52.400 iberrigan: insurance?
126 00:14:52.400 ⇒ 00:14:54.239 Jason Silver: Is it mostly, like, PNC, or…
127 00:14:54.600 ⇒ 00:15:02.730 iberrigan: For me, yeah, 100% property and casualty commercial. I will do, on occasion, high net worth homeowners for clients that I have.
128 00:15:02.900 ⇒ 00:15:05.560 iberrigan: Business and… or property and casualty set up with.
129 00:15:05.690 ⇒ 00:15:15.419 iberrigan: Because that’s just a whole other animal. Lot of automation opportunity there, too, but in my seat now, I only do commercial PNC.
130 00:15:15.880 ⇒ 00:15:16.310 Jason Silver: What size.
131 00:15:16.310 ⇒ 00:15:16.870 iberrigan: commercially.
132 00:15:16.870 ⇒ 00:15:17.420 Jason Silver: Right.
133 00:15:18.290 ⇒ 00:15:26.989 iberrigan: I mean, variety of things, anywhere from small to mid-market. Smaller end could be a contractor doing a couple million in revenue a year.
134 00:15:27.560 ⇒ 00:15:28.509 iberrigan: And are you focused?
135 00:15:28.510 ⇒ 00:15:34.020 Jason Silver: Just on certain types of businesses, like mom-and-pop, like, Main Street-type You know, like.
136 00:15:34.470 ⇒ 00:15:38.309 Jason Silver: Dentists and doctors, or no? Like, what’s your main kind of focus? No.
137 00:15:38.770 ⇒ 00:15:45.599 iberrigan: I’ll branch out, but, you know, my expertise and what I’ve seen to be more…
138 00:15:46.120 ⇒ 00:15:55.069 iberrigan: Palatable would be going after, like, trying to be more of a subject matter expert in a specific vertical, or a few verticals, such as construction, real estate development.
139 00:15:55.110 ⇒ 00:16:07.980 iberrigan: private equity, M&A, that’s kind of my focus, and it has been for the last 4 years. But, you know, on occasion, I’ll work with a mom and pop, a restaurant chain, you know, I network daily and meet people, and
140 00:16:08.030 ⇒ 00:16:18.770 iberrigan: I don’t like saying no to opportunities, especially if I know I’m capable of understanding the full risk profile of these types of industries, which… mom-and-pop stuff and, you know, your…
141 00:16:18.860 ⇒ 00:16:27.870 iberrigan: Fit-in-a-box type of risks are very easy to comprehend whenever you’re specializing in complex risk development, construction, very litigious,
142 00:16:28.170 ⇒ 00:16:29.540 iberrigan: industries, so…
143 00:16:29.720 ⇒ 00:16:39.259 iberrigan: Yeah, it’s a mixed match, but I will say I focus more on the high-risk complex risk stuff. More premium dollars for the brokerage, and then…
144 00:16:39.460 ⇒ 00:16:56.899 iberrigan: less, number of clients. That’s kind of the goal. Reduce service burdening, and try to be able to operate with less, less, CSRs, account managers. And I think that’s where the future of independent agencies and brokerages will go that route.
145 00:16:58.200 ⇒ 00:17:00.599 iberrigan: AI and…
146 00:17:05.380 ⇒ 00:17:07.530 iberrigan: Types of tools that you guys are…
147 00:17:07.920 ⇒ 00:17:11.149 iberrigan: You know, looking to build out, or…
148 00:17:12.430 ⇒ 00:17:19.430 iberrigan: Are gonna allow that to become more mobile, because this is… it’s a huge opportunity.
149 00:17:20.050 ⇒ 00:17:22.670 Mike Klaczynski: Yeah, you’re breaking up a little bit. Is it me, or is it…
150 00:17:22.990 ⇒ 00:17:24.170 iberrigan: It’s me, it’s me, sorry.
151 00:17:24.599 ⇒ 00:17:25.450 Mike Klaczynski: Yeah.
152 00:17:25.540 ⇒ 00:17:27.130 Mike Klaczynski: So…
153 00:17:27.160 ⇒ 00:17:36.799 Mike Klaczynski: So, if we take a step back, right, I’m not from the insurance space, I kind of generally understand that I’ve purchased some expensive insurance policies before, it’s, it’s painful.
154 00:17:36.800 ⇒ 00:17:51.799 Mike Klaczynski: Like, how do you compete with other brokers in the area? Like, let’s say I’m a client, I own a construction business, right? Maybe I do $50 million worth of revenue a year, I’ve got a crew of 100 people, whatever it might be. Like, do I go pick one broker?
155 00:17:51.800 ⇒ 00:18:01.659 Mike Klaczynski: Such as yourself, and then you go ship that policy to a couple underwriters? Or, you know, would I go to a couple brokers and see who gives me the best deal? How does that typically work?
156 00:18:08.290 ⇒ 00:18:12.049 iberrigan: So, it’s a… it usually… Did you lose me?
157 00:18:12.050 ⇒ 00:18:12.740 Uttam Kumaran: Oh, here, you’re here.
158 00:18:12.740 ⇒ 00:18:13.430 Jason Silver: back again.
159 00:18:13.430 ⇒ 00:18:31.509 iberrigan: Okay, God, I’m sorry, I’m in a… I’m in a public setting, so I can’t control the Wi-Fi signal. But basically… so I have to educate commercial clients on this all the time, and it’s… it’s… the last thing you want to do is engage multiple brokers in the commercial PNC space, because
160 00:18:31.820 ⇒ 00:18:45.270 iberrigan: As soon as a commercial broker represents you or goes to submit your, like, to go full… through a full submission process to an insurance company, once one broker approaches you for that risk, they block the market completely from any other broker.
161 00:18:45.390 ⇒ 00:18:52.320 iberrigan: So… That’s… it’s… it’s a… it’s a two-way thing. It’s to protect the broker’s business, and not just, like.
162 00:18:52.690 ⇒ 00:19:05.080 iberrigan: you know, have people just utilizing all these brokers to go do the same thing for all the same markets. So I have to go basically sell myself, my company, my expertise, subject matter expertise.
163 00:19:05.150 ⇒ 00:19:16.890 iberrigan: And not so much make them choose me as, like, a… it’s not a buying decision, it’s, hey, like, I know what I’m talking about, here’s why, here’s clients we’ve helped, you know, here’s my website, here’s whatever.
164 00:19:17.270 ⇒ 00:19:27.410 iberrigan: this is why you should appoint me as your broker, not, hey, I have the cheapest policy, and you should go try and find the cheapest one with XYZ insurance agency. It’s like, you know.
165 00:19:27.520 ⇒ 00:19:36.710 iberrigan: I always tell them that. I’m like, you’re choosing me, that’s the only decision I need you to make. The dollar, premium dollars, that’s all secondary. I have access to the same markets that these guys do.
166 00:19:36.940 ⇒ 00:19:40.879 iberrigan: you just gotta trust me for me, for my expertise that I’m bringing to the table.
167 00:19:40.880 ⇒ 00:19:42.650 Mike Klaczynski: Okay. That’s how that goes.
168 00:19:42.860 ⇒ 00:20:01.000 Mike Klaczynski: The reason I say that is, like, there’s different parties in this whole chain, and, like, I’m trying to figure out what can AI do to make you more competitive, but the thing is, you’re not competing with anyone else in an AI sense. That’s just the relationship building, and the expertise you have in the subject matter, areas you cover.
169 00:20:01.010 ⇒ 00:20:01.830 iberrigan: Yeah. But…
170 00:20:02.090 ⇒ 00:20:05.760 Mike Klaczynski: But what AI can now help you with is, when you go to this client.
171 00:20:07.000 ⇒ 00:20:15.049 Mike Klaczynski: you’re gonna prepare this policy, right? You’re gonna fill out all these forms, and then you’re gonna send them off to these different agencies to then potentially underwrite.
172 00:20:15.170 ⇒ 00:20:20.870 Mike Klaczynski: How can we make that better for you? Because I was talking to another
173 00:20:21.210 ⇒ 00:20:26.339 Mike Klaczynski: And actually, Utam, this might have been with you, I think we were talking to somebody in the farming space.
174 00:20:26.340 ⇒ 00:20:29.370 Uttam Kumaran: Talking about, yeah, supplemental applications, and…
175 00:20:29.890 ⇒ 00:20:30.480 Mike Klaczynski: And so, like…
176 00:20:30.480 ⇒ 00:20:31.170 iberrigan: Yeah, it’s a mess.
177 00:20:31.170 ⇒ 00:20:50.090 Mike Klaczynski: you gotta go out to a farm and, like, count every single cow and every pig and tractor and tire, and it could take you days and days to do that. And then every… every different underwriter is gonna have a different form you need to fill out, right? It’s not like one form I fill out to send to all of them, everybody has a different form. So I think this is the perfect example of where AI can step in.
178 00:20:50.090 ⇒ 00:20:50.640 iberrigan: So…
179 00:20:50.640 ⇒ 00:20:51.350 Mike Klaczynski: About that?
180 00:20:51.710 ⇒ 00:20:55.599 iberrigan: So yeah, there’s a few things I can speak on with that, and kind of get…
181 00:20:55.600 ⇒ 00:21:12.549 Uttam Kumaran: kind of dig in a little more, too, so… And Ian, if you could talk, you know, I know you may hover on the supplemental, but if you can even set the stage on, like, something more generic, and then also talk about the supplemental, kind of walk through that execution workflow, all the way to the quote process.
182 00:21:12.740 ⇒ 00:21:22.519 iberrigan: Totally. And please interrupt me if I… if the internet goes down or whatever, I’ll… I’ll just wait till it picks back up. But, so, couple things I can say.
183 00:21:23.460 ⇒ 00:21:26.270 iberrigan: Basically, another…
184 00:21:26.400 ⇒ 00:21:37.069 iberrigan: Another opportunity point, just to… just to understand this, is there’s… there’s standard markets, like, there’s insurance carriers, you’re used to hearing about, Travelers, Liberty Mutual, Progressive, you know, all those.
185 00:21:37.410 ⇒ 00:21:55.280 iberrigan: Then there’s what we call, excess and surplus markets, which you may or may not have heard of that. That’s markets that are insurance companies that are not accessible directly. As a retail agent like myself, or an insurance agency, you can’t access those carriers unless you go through a wholesale broker.
186 00:21:55.870 ⇒ 00:22:01.260 iberrigan: Essentially, it’s another middleman that has access to these insurance products that
187 00:22:01.890 ⇒ 00:22:21.369 iberrigan: most times tend to… you have to use those if you have a very high or complex risk, like construction or a developer. A lot of those types of risk or contractors that do, like, concrete or whatever, very high risk stuff, you can’t find standard markets to take on those risks or provide policy options. So that said.
188 00:22:21.980 ⇒ 00:22:28.119 iberrigan: in those… in those ENS or excess and surplus marketplaces, like, you have to do more
189 00:22:28.220 ⇒ 00:22:39.520 iberrigan: form building, more supplemental application information has to be submitted. Not only does it have to be submitted and provided for a new business quote, or, like, a first-time quote, or policy.
190 00:22:39.520 ⇒ 00:22:48.289 iberrigan: You have to redo those things every year on an annual basis, and provide updated supplemental, updated exposures from the last term to this term.
191 00:22:48.290 ⇒ 00:23:00.069 iberrigan: Updated, standardized accord forms, like you would at any other risk if it was in the standard market, but adding that, you know, that adds more manual work for the brokerage, or the agent, like the retail agent, myself.
192 00:23:00.240 ⇒ 00:23:01.860 iberrigan: Every year, so…
193 00:23:03.200 ⇒ 00:23:11.959 iberrigan: although I choose to go after those, you know, 90% of my book of business is in the excess and surplus market, not many of my clients fit into a standard market situation.
194 00:23:12.070 ⇒ 00:23:22.970 iberrigan: that is, like, another opportunity if you guys were going after retail agents that do a lot of E&S or excess and surplus business. They’re gonna rely even heavily, even more on
195 00:23:23.320 ⇒ 00:23:40.039 iberrigan: tools to reduce those mundane, repeatable tasks that they’re having to face, and pay service people to be able to just do their regular business. So I just wanted to get that out of the way first. There’s just two different buckets when it comes to how you shop for insurance for a client.
196 00:23:40.740 ⇒ 00:23:44.230 iberrigan: What that looks like, usually, is…
197 00:23:44.330 ⇒ 00:23:54.159 iberrigan: hey, someone calls me, or I make a connection, we’ll just say it’s, just a general contractor that’s doing a couple million dollars in revenue a year, whatever.
198 00:23:54.220 ⇒ 00:24:06.559 iberrigan: Okay, hey, I’m gonna… do you have insurance already? Okay, great, you do. Send me over what that is, like, I’m gonna review it, I’m gonna check those… check some things out, and then, I’ll get back with you on what I think we should do next. I’ll review the policy.
199 00:24:06.600 ⇒ 00:24:25.399 iberrigan: see what they’ve got. If they’re with a carrier I already recognize, or whatever, if they’ve got some exposures that aren’t really truly covering them the way they should, or, you know, that aren’t covered in their policy, like, they don’t have a broker who is a specialist, it’s just a generalist broker, which majority of brokers are very generalists, because they just are hungry for business opportunity.
200 00:24:25.490 ⇒ 00:24:42.419 iberrigan: I’ll then pinpoint those opportunities, or say, hey, dude, like, you know, you’re… you’re not really covered for this, like, hey, like, if you’re doing this type of work, I just want to let you know, like, you’re very exposed. You could have a massive claim here. Whatever my wedge is, I’ll find a wedge one way or another.
201 00:24:42.470 ⇒ 00:24:52.109 iberrigan: And… or it could be price. I tend to not go for price, because it’s, like, that’s… I don’t want them to decide to appoint me because it’s, like, a couple grand cheaper or whatever, but…
202 00:24:52.370 ⇒ 00:25:09.970 iberrigan: That said, I’ll go from that point and say, hey, okay, either one way of getting the business and getting it on my books is by way of broker of record change. Basically, it’s a quick, easy form I can send over to appoint myself as the broker of record. I take his existing policy or policies.
203 00:25:10.670 ⇒ 00:25:20.049 iberrigan: immediately gets transferred into my agency’s name, so at the next renewal or whatever, I have access to pull documents, change things, make updates, whatever.
204 00:25:20.370 ⇒ 00:25:24.569 Jason Silver: Is your agency an MGA also, or an MGU, or are you guys just brokers?
205 00:25:24.570 ⇒ 00:25:28.870 iberrigan: No, just 100%. So who actually holds the policy? Who holds the paper, then?
206 00:25:29.510 ⇒ 00:25:31.310 iberrigan: The insurance companies.
207 00:25:31.530 ⇒ 00:25:36.069 Jason Silver: So the carrier does, like, so you don’t work through an MGA then? You just work directly through a carrier then?
208 00:25:36.070 ⇒ 00:25:45.229 iberrigan: No, I work… I work either directly through carriers, or through wholesale brokers, or MGAs, so I utilize them to access the insurance products.
209 00:25:45.230 ⇒ 00:25:47.929 Jason Silver: Okay, so you guys do use some MGAs then. Okay, cool. Thank you.
210 00:25:47.930 ⇒ 00:25:53.040 iberrigan: Yeah, yeah, yeah. I myself, though, am not… my agency is not an MGA.
211 00:25:53.040 ⇒ 00:25:56.040 Jason Silver: Right, so you guys would work with a Burns & Wilcox or someone like that, then?
212 00:25:56.300 ⇒ 00:26:03.820 iberrigan: Correct, yeah, Burns. Burns is definitely one of the… one of the few that I do utilize. So…
213 00:26:04.230 ⇒ 00:26:08.249 iberrigan: Basically, let me, let me catch my train of thought, sorry.
214 00:26:12.830 ⇒ 00:26:29.900 iberrigan: So basically, yeah, like, I’ll find my wedge, right? And then I’ll either ask them to… if I’ve built enough rapport, you know, at this stage, I can have them sign a BOR, take over all their existing policies. I won’t get paid on those until the renewal, but I will have access and I will control them, right? That’s number one.
215 00:26:29.970 ⇒ 00:26:46.489 iberrigan: if it’s that bad of a situation where the policy is just dog water and I need it to be replaced, I’ll propose that, and I’ll get a quote, but in order to do that, then I’m… then I’m starting to utilize, you know, all of my resources, time spent, all those things go into just getting this individual, hey.
216 00:26:47.260 ⇒ 00:27:00.899 iberrigan: can you fill out this supplemental application, or I will pre-fill as much as I can on there based on the information from the existing policy documents they’ve provided me, if I’m lucky enough for them to have given me access to that information, right?
217 00:27:01.350 ⇒ 00:27:05.579 iberrigan: So then I side-by-side, just kind of look through the policy, see what’s…
218 00:27:05.580 ⇒ 00:27:12.210 Uttam Kumaran: How long does that take, Ian? Like, how much are… what is the… what is the average transaction length right now? Like…
219 00:27:12.360 ⇒ 00:27:30.139 Uttam Kumaran: And I do like that you’re explaining, like, a couple of different customer types. You’re talking about, like, new broker of record transfers, net new customer, and then you, of course, have, like, these renewals, right? So, like, that’s kind of interesting to talk about, and if we just continue down this path, like, how long is that average transaction, and
220 00:27:30.150 ⇒ 00:27:32.969 Uttam Kumaran: You know, if you can estimate, like.
221 00:27:32.990 ⇒ 00:27:38.559 Uttam Kumaran: How much time is spent, you know, on these sort of tasks that are related to, like.
222 00:27:38.650 ⇒ 00:27:41.849 Uttam Kumaran: Filling out documents or going through notes and filling it out.
223 00:27:42.110 ⇒ 00:27:47.380 Uttam Kumaran: following up, and then, you know, saying, hey, I have another document to fill out, like, those types of activities.
224 00:27:47.590 ⇒ 00:27:50.239 Uttam Kumaran: You know, I think I asked you this, you know, when we…
225 00:27:50.240 ⇒ 00:27:51.330 iberrigan: We were talking a couple years ago.
226 00:27:51.330 ⇒ 00:27:53.180 Uttam Kumaran: But yeah, just helpful for everybody.
227 00:27:53.600 ⇒ 00:27:57.160 iberrigan: Yeah, so, I mean… The process of, like…
228 00:27:57.630 ⇒ 00:28:13.700 iberrigan: The process of gathering enough information to put together a full submission to send out to market in hopes to get quotes back for your client, that process, you know, if in a perfect world, if that client gets you everything you ask for, or that prospect gets you everything you ask for.
229 00:28:14.250 ⇒ 00:28:31.649 iberrigan: up front or quickly, which rarely happens, unless they have extreme interest or trust that you’re gonna, like, get them sorted. It’s like, that process alone of just information gathering before you can submit to the insurance carriers or marketplace through an ENS broker, wholesale broker, it’s, like, maybe…
230 00:28:32.040 ⇒ 00:28:35.409 iberrigan: Maybe, like, upwards of a week.
231 00:28:35.940 ⇒ 00:28:48.709 iberrigan: You know, it’s like a week of back and forth of, hey, you missed this, or hey, this answer doesn’t really make sense here, how much percentage of your work is commercial versus residential versus remodel versus this, like, you know, who are your…
232 00:28:48.710 ⇒ 00:29:00.219 iberrigan: Who are your largest 5 contracts to date this year? You know, there’s all these little things that a lot of times the business owners or the decision makers for these companies don’t necessarily even understand how to answer themselves.
233 00:29:00.220 ⇒ 00:29:04.269 iberrigan: So, it’s a lot of education, it’s a lot of back and forth, but…
234 00:29:04.410 ⇒ 00:29:18.139 iberrigan: In a perfect world, a couple days back and forth, you’ve got enough to send a full submission through to a wholesale broker, or if you’re going direct, you have enough to go through an online portal or talk to an underwriter and figure that piece out.
235 00:29:18.470 ⇒ 00:29:21.039 Uttam Kumaran: I don’t know those questions ahead of time, often?
236 00:29:21.370 ⇒ 00:29:22.340 iberrigan: Like, is there any…
237 00:29:22.340 ⇒ 00:29:26.579 Uttam Kumaran: Are you like, hey, there’s, like, 30, 40 questions, and then you’re sort of chasing them down to get those?
238 00:29:26.820 ⇒ 00:29:34.969 iberrigan: So, what I’ll do… yeah, I kind of have an idea, because I’ve done a lot of contractors, or GCs, or, you know, trade contractors, but…
239 00:29:35.570 ⇒ 00:29:51.370 iberrigan: a lot of times, you know, I’ll look for a supplemental application from a certain insurance company that I use, that, you know, kind of covers all the bases, and I’ll just send them one of those. I’ll pre-fill it based on what I know about through conversation, through reviewing their existing policy situation.
240 00:29:51.370 ⇒ 00:30:07.649 iberrigan: and pre-fill it to make it as easy as I can for them, because a lot of these guys aren’t going to want to fill out a 9-page supplemental application. They don’t even know how to freaking put it in Adobe Acrobat to be able to make it fillable, you know what I’m saying? Like, there’s so many things that cause them to just say, you know, screw this, I’m gonna stay where I’m at.
241 00:30:08.290 ⇒ 00:30:20.060 iberrigan: you know, I don’t even really give a shit that my… that I have exposure. Like, thanks for telling me, but I’m just gonna go tell my existing broker, hey, dude, like, fix my… fix my situation. You know, like, there’s so many things that make it hard, where it’s like.
242 00:30:20.440 ⇒ 00:30:32.240 iberrigan: if you can make it easy for them to just fill out the information or provide what’s needed, I can submit it to the carriers and get a quote back, boom. Like, that… that process can be tightened up for sure.
243 00:30:32.420 ⇒ 00:30:44.830 iberrigan: I think there’s a way… Utam and I had talked about this in the past, like, I have access to thousands of supplemental applications for different industries, different types of businesses, from different insurance companies or wholesale brokers.
244 00:30:45.000 ⇒ 00:30:50.200 iberrigan: that are available publicly, and that I’ve collected over the years, that essentially
245 00:30:50.380 ⇒ 00:31:06.990 iberrigan: if you were to compare those or use, I guess, AI tools to, like, siphon through those and find common questions, I’m sure there’s a way to create some sort of standardized supplemental application for a concrete contractor, or for a residential home builder, or whatever it might be.
246 00:31:06.990 ⇒ 00:31:08.609 Mike Klaczynski: That’s the perfect scenario for our solution.
247 00:31:08.940 ⇒ 00:31:09.540 Mike Klaczynski: run.
248 00:31:09.780 ⇒ 00:31:28.219 iberrigan: And that’s what I’m looking for for my own brokerage as well. I’m creating intake forms on my website that are basically a conglomeration of supplemental apps that I’ve seen, and I want it to be smart and reactive, to just make it easier on the insured to actually get to a point where I can then have a submission put together with less time.
249 00:31:28.230 ⇒ 00:31:35.529 iberrigan: propose a solution way quicker than the competition. That’s, I guess, another thing that could set someone like myself apart from
250 00:31:35.850 ⇒ 00:31:48.999 iberrigan: whoever the hell insurance agency down the street, or whatever, whoever has the best SEO optimization online for the searches that people are using to find insurance for their business, like, so yeah, there’s that.
251 00:31:50.580 ⇒ 00:31:52.649 Holly Condos: Ian, if you had all…
252 00:31:52.930 ⇒ 00:31:59.229 Holly Condos: of what you just described, would it be possible to then just give the customer a list
253 00:31:59.540 ⇒ 00:32:05.759 Holly Condos: these are the documents I need from you, or does the customer actually have to, by law, like, complete
254 00:32:06.090 ⇒ 00:32:09.249 Holly Condos: the application. They only have to sign it, right?
255 00:32:10.010 ⇒ 00:32:16.670 iberrigan: So a lot of times, I’ve found myself, you’re correct, they just have to sign it, and technically, everything is done…
256 00:32:16.770 ⇒ 00:32:33.860 iberrigan: Subject to, it’s a very popular term in my industry. Everything is done or proposed subject to providing loss history, 5 years of, you know, validated loss history, signed applications, whatever, whatever. A lot of times, I’ll find myself completing a supplemental on behalf of a client.
257 00:32:34.370 ⇒ 00:32:39.039 iberrigan: it’s not malicious or illegal, it’s just more so, like, I know it’s gonna take time to even get to a…
258 00:32:39.300 ⇒ 00:32:59.180 iberrigan: point where I can propose a quote, I’ll have them sign it or adjust it later, you know? Whenever I send through documents, hey, he wants to move forward with this quote I was able to obtain, hey, buddy, just make sure you review everything on this DocuSign, and make adjustments where necessary, sign it, return it to me, then the carrier will do a final review of it before issuing the binder for the policy.
259 00:32:59.210 ⇒ 00:33:01.410 iberrigan: So, there’s a lot of,
260 00:33:01.720 ⇒ 00:33:12.769 iberrigan: there’s a lot of times where I step ahead and do things, just knowing that it’s because I just need to save time, I need to get something in front of this person to close a deal, the rest will get sorted out later.
261 00:33:13.430 ⇒ 00:33:19.610 Holly Condos: Understood, but if that process, even if you were doing it, if that process could be sped up, Right?
262 00:33:19.610 ⇒ 00:33:20.190 iberrigan: Oh.
263 00:33:20.190 ⇒ 00:33:22.870 Holly Condos: That would save you, what, weeks?
264 00:33:23.770 ⇒ 00:33:29.709 iberrigan: Absolutely, yeah. If not, at the very least, at the very least, hours to days, yeah.
265 00:33:30.170 ⇒ 00:33:30.870 Mike Klaczynski: So, what…
266 00:33:30.870 ⇒ 00:33:31.460 Holly Condos: See?
267 00:33:31.460 ⇒ 00:33:39.629 Mike Klaczynski: Once you fill out the form, right, the underwriters and these brokers, they get all these forms, and then they have to process all this information themselves, right?
268 00:33:39.920 ⇒ 00:33:40.890 Mike Klaczynski: So…
269 00:33:41.300 ⇒ 00:33:52.700 Mike Klaczynski: So, you get these forms, you send it to the client, the client fills it out, which is a pain in the butt, a lot of friction. Now the form’s completed, you’ll review it, right? Manual process, something the AI can probably assist with based on
270 00:33:52.890 ⇒ 00:34:00.160 Mike Klaczynski: Just your experience. Then you have to give these forms over to the underwriter, and then the underwriter then has to go through all this information manually as well.
271 00:34:00.410 ⇒ 00:34:17.060 Mike Klaczynski: So, like, there’s all these parts where you could simplify this whole value chain. And from our perspective, what we’re trying to do is build solutions for you, so you can make it easier for your client, and then also upstream help the underwriters, so that when they get these forms from all these different brokers.
272 00:34:17.060 ⇒ 00:34:20.359 iberrigan: you know, they can more quickly underwrite these policies. Yeah.
273 00:34:20.900 ⇒ 00:34:33.100 Mike Klaczynski: How much variability is this? Like, what’s kind of your secret sauce? Like, are you negotiating with the underwriter based on the policy and saying, hey, this client’s actually pretty good, I checked out their house.
274 00:34:33.100 ⇒ 00:34:37.209 Uttam Kumaran: That’s a million dollar question, Mike. That’s the sauce.
275 00:34:37.210 ⇒ 00:34:37.750 Mike Klaczynski: Or, like.
276 00:34:37.750 ⇒ 00:34:40.319 Uttam Kumaran: No, no, no, no, no, I’m just joking, but yeah, yeah, go ahead.
277 00:34:40.620 ⇒ 00:34:49.079 Mike Klaczynski: Fairly undifferentiated, right? There’s gotta be… there’s gotta be some variability, or is it just a calculator the underwriter plugs stuff into, and then it spits out a policy?
278 00:34:49.080 ⇒ 00:34:57.609 iberrigan: So, I will say, I can’t really speak on what it’s like to be an underwriter, because I’ve never sat in that seat. I don’t…
279 00:34:58.650 ⇒ 00:35:01.879 iberrigan: I think for underwriters, it’s a lot more…
280 00:35:02.190 ⇒ 00:35:11.710 iberrigan: dependent on potential profitability? Like, is this a good piece of business? Is this a bad piece of business? What are our loss… like, what’s our loss ratio in this case?
281 00:35:11.710 ⇒ 00:35:12.060 Mike Klaczynski: It’s all about.
282 00:35:12.060 ⇒ 00:35:12.780 iberrigan: Sorry, you know, yeah.
283 00:35:12.780 ⇒ 00:35:13.960 Holly Condos: population, yeah.
284 00:35:13.960 ⇒ 00:35:17.220 iberrigan: actuarial science, you know? They’re gonna have a lot more…
285 00:35:17.900 ⇒ 00:35:26.849 iberrigan: they’re gonna worry about that, whereas for me, I’m worried about, is this client gonna pay? Are they sophisticated enough to understand my emails? Are they gonna be responsive?
286 00:35:27.470 ⇒ 00:35:35.229 iberrigan: if those 3 boxes are checked for me, and it’s sizable, and I know it’s not gonna be a pain in the ass, it’s gonna be, like, I’m probably gonna take on that.
287 00:35:35.480 ⇒ 00:35:36.570 iberrigan: Opportunity.
288 00:35:36.670 ⇒ 00:35:48.179 iberrigan: But for them, I think they’re gonna say, you know, they have preferential treatment for brokers that send good submissions, whether it’s profitable or, you know, just not a lot of hair on the account.
289 00:35:48.270 ⇒ 00:36:04.829 iberrigan: you know, it’s like, it’s straightforward, they’ve provided everything up front, like, they’re gonna wanna do business with brokers like that, that provide those submissions in whole, full, ready to go. There’s not a bunch of, like, hey, you’re missing all this information, hey, this seems fishy, why are they, you know, are they, like, why does their…
290 00:36:05.150 ⇒ 00:36:21.259 iberrigan: subcontract agreement that the… that the contractor’s providing not have indemnification wording in it. Like, it looks like they just typed this shit up on Microsoft Word before you sent it over. Like, you know, there’s… there’s things they have to consider that I truly don’t worry about as much.
291 00:36:21.410 ⇒ 00:36:26.120 iberrigan: But the sauce, I think, for me, is… I’m not really struggling with the…
292 00:36:26.530 ⇒ 00:36:43.580 iberrigan: I can’t find a quote for this guy, or I can’t get this risk… I can’t find a solution for this client. I don’t really have issues with that. I have enough network and enough wholesale brokers, I can place any type of risk or business and put a number in front of someone to say, hey, I found a solution, it’s just, do you want to pay that price or not?
293 00:36:45.320 ⇒ 00:36:52.380 iberrigan: My only issue is time spent collecting the information, vetting the client, trying to figure out if I can even
294 00:36:53.320 ⇒ 00:37:02.470 iberrigan: if I should even allocate the time and energy to putting a submission together and waste my time with this, or if I should continue focusing on other areas where I can be profitable.
295 00:37:02.760 ⇒ 00:37:08.169 iberrigan: And yeah, I don’t… I… that’s the main thing, it’s like…
296 00:37:08.590 ⇒ 00:37:18.670 iberrigan: time spent and efficiency. I don’t like filling out a supplemental and filling out all these standardized forms that I do blindly. Well, today, I assigned that to my.
297 00:37:18.670 ⇒ 00:37:21.010 Uttam Kumaran: Yeah, they’re not gonna close at the end of the day, yeah.
298 00:37:21.010 ⇒ 00:37:23.940 iberrigan: Yeah, yeah, I don’t want to do that, number one.
299 00:37:24.360 ⇒ 00:37:30.859 iberrigan: And number two, it’s like, even if they are gonna close, I don’t want to do that, because it’s not a good use of my time. I need to be out.
300 00:37:31.210 ⇒ 00:37:40.349 iberrigan: selling, networking, going to events, you know, like, meeting people, being in the right rooms. I don’t need to be taking one document that
301 00:37:40.500 ⇒ 00:37:45.740 iberrigan: It’s a standardized form every time you send a submission through, regardless of industry or vertical or risk type.
302 00:37:45.770 ⇒ 00:37:50.130 iberrigan: And copying and pasting it over, or checking boxes that…
303 00:37:50.130 ⇒ 00:38:05.990 iberrigan: the yes or no question to 60 different places. It’s like, no, I don’t need to be doing that. And I don’t have the luxury in my own agency of having employees to do that for me, but at the large brokerage I work for, I have a team of 2 or 3 underneath me that do that stuff.
304 00:38:06.180 ⇒ 00:38:13.749 iberrigan: And it’s fine, but… You know, it’s not… it’s not… Feasible as an independent agency.
305 00:38:13.980 ⇒ 00:38:22.390 iberrigan: I mean, my brokerage has unlimited money, and they don’t care if they’re profitable in my retail group, so it’s like, it doesn’t make sense. We would not exist if they had… if they didn’t have the…
306 00:38:22.430 ⇒ 00:38:34.800 iberrigan: funding that they have. And that’s the same case for all these smaller independent agencies, like, they either die, or can’t survive because they run out of marketing dollars, or they can’t keep up with the headache of servicing all their clients.
307 00:38:34.880 ⇒ 00:38:40.900 iberrigan: and doing all this stuff to get new business in the door before they’re dropping off and clients are leaving. Their churn is just…
308 00:38:41.050 ⇒ 00:38:44.040 iberrigan: Overtaking their ability to service, and…
309 00:38:44.040 ⇒ 00:38:58.919 Uttam Kumaran: There seems like there’s, like, at least… so there’s at least one area which is extracting information from notes or transcripts. I guess, Mike, does a contextual product allow for, like, like, editing PDFs? Like, can you write back?
310 00:39:00.020 ⇒ 00:39:02.530 Mike Klaczynski: Yeah, we could, we could fill them out, I think. Fill.
311 00:39:02.530 ⇒ 00:39:04.409 Uttam Kumaran: Yeah, for form fill, basically.
312 00:39:04.410 ⇒ 00:39:09.939 Mike Klaczynski: Yeah, we could do a form fill. Yeah, the other, thing that I think we discussed last time was, like.
313 00:39:10.380 ⇒ 00:39:25.020 Mike Klaczynski: imagine you have a script, and then you just go and dictate, right? You’re walking around, and you’re just having a conversation. It takes the transcript of that and just fills out as much of the form as possible. So you don’t have to manually transcribe it, it’s all just based on the transcript and the conversation you had.
314 00:39:25.020 ⇒ 00:39:29.430 iberrigan: Yeah, that’d be extremely valuable, to just have it run… And then, like, yeah.
315 00:39:29.800 ⇒ 00:39:31.310 Uttam Kumaran: Yeah, and how much, like.
316 00:39:31.490 ⇒ 00:39:35.530 Uttam Kumaran: you know, I don’t know whether this even goes to the point of, like, hey, go…
317 00:39:35.610 ⇒ 00:39:53.220 Uttam Kumaran: here’s, like, here’s, like, my e-in bot, go talk to it, and it’s gonna ask you all these questions. Like, do you still think that part of the… the thing you have… you can’t avoid is to talk to the client and sort of ask these questions? Like, even if you were to get something more streamlined? Okay, so, like.
318 00:39:53.220 ⇒ 00:39:58.370 iberrigan: That’s why it’s gonna be in conjunction with… that’s gonna be the optimist situation.
319 00:39:58.370 ⇒ 00:40:15.660 Uttam Kumaran: That’s, like, the relationship building, even part of gathering the quote, is not like, cool, like, here, go talk to something and gather. It is actually, that’s part of it. I think really where we can hone in on is post-meeting, or like, hey, give me a bunch of documents, throwing all of that into something to summarize.
320 00:40:15.780 ⇒ 00:40:28.200 Uttam Kumaran: contextualize, put it into, you know, form fill, other things. I have another form, how much can we fill out from what we have? Output me the remaining questions. Part of that process, you know, definitely, I think there’s an opportunity.
321 00:40:28.400 ⇒ 00:40:43.459 Mike Klaczynski: It sounds like it’s reducing the back and forth, because there’s going to be some. Like, you’re gonna send something to the client, but you want them to get, like, 99% of the way, so you don’t have to go back 5 or 6 times. And the thing is, you could gather all the forms you have, and they fill out one comprehensive questionnaire.
322 00:40:43.460 ⇒ 00:40:49.559 iberrigan: And then based on that, then you could fill out all the individual ones that may overlap or may not overlap. Yeah, got it.
323 00:40:49.760 ⇒ 00:41:06.060 Mike Klaczynski: And then I think for me, because I’ve done these policies, it’s like, when I get the form, there’s no way for me to chat with it to understand more. It just gives you, like, a field that’s like, tell me about it. And I’m like, well, should I be, like, super verbose, not verbose, super detailed, not detailed?
324 00:41:06.250 ⇒ 00:41:14.610 Mike Klaczynski: I’ve got a boat, and, like, my insurance policy’s been 28,000 for the same damn thing. And so there seems to be a lot of variability.
325 00:41:15.460 ⇒ 00:41:34.350 iberrigan: So, yeah, absolutely, and I think that’s what… what it comes down to, also, is being strategic in how you complete these forms. Yeah, you know, material misrepresentation is fraud and… which is a felony, so, you know, I could either go to jail, or the client themselves, if they’re misrepresenting information, they could go to prison.
326 00:41:34.440 ⇒ 00:41:41.799 iberrigan: So I think it… I think what you’re saying, if you could interact with the form, it would be very… you have to be very careful in how you…
327 00:41:42.100 ⇒ 00:41:57.600 iberrigan: you know, what kind of help you’re providing the client. If you’re, like, kind of guiding them down a path to not really represent their risk appropriately, that could be a problem. I think that’s having a good agent or a good broker on your side that knows the business, knows the vertical you’re in.
328 00:41:57.600 ⇒ 00:42:06.600 iberrigan: can help you strategize in how you propose, or how you are expressing your risk to the eventual underwriter who’s gonna review it. That’s huge. I think that’s a big…
329 00:42:06.600 ⇒ 00:42:12.409 iberrigan: a big opportunity. But again, it just comes down to reducing the back and forth.
330 00:42:12.590 ⇒ 00:42:26.019 iberrigan: making it as easy as possible for the insured or the prospect to complete the necessary forms to have a full submission sent out to the market, whether that’s through wholesale brokers or directly to a carrier’s underwriter.
331 00:42:26.770 ⇒ 00:42:30.280 iberrigan: At the end of the day, yeah, that’s the biggest piece, and…
332 00:42:30.530 ⇒ 00:42:35.460 iberrigan: I do like the idea of having, you know, the standardized form.
333 00:42:35.770 ⇒ 00:42:44.929 iberrigan: for this type of insured or this prospect to fill out, and then that can transcribe to the other applications that are standard for every submission.
334 00:42:45.550 ⇒ 00:42:52.869 iberrigan: like I mentioned earlier, though, in some cases, I’ll just pull a supplemental for a specific insurance company that’s gonna have, like, a good
335 00:42:53.090 ⇒ 00:43:05.140 iberrigan: a good few pages and all the information that I might need, following a quote coming back, because what they’ll do is, whoever they quote with, whatever insurance company they find a good quote through.
336 00:43:05.140 ⇒ 00:43:18.560 iberrigan: they’ll then say, okay, yeah, if they want to go with this, we’ll have to fill out the carrier-specific supplemental application. So they’ll then provide a whole brand new blank copy of something, even after they’re already, like, hey, like, we want to… the client wants to buy this policy. Like.
337 00:43:18.560 ⇒ 00:43:19.980 Mike Klaczynski: Yeah. Like, tell us where to sign.
338 00:43:19.980 ⇒ 00:43:39.740 iberrigan: And they’re like, okay, yeah, well, you’ll have to submit the full accord form, signed, dated, whatever, and the carrier supplemental, which is completely blank, and almost a carbon copy of the one I had them fill out initially, but it’s just because they want their exact proprietary form completed. So, it’s like, that happens a lot, and that’s just, like, totally…
339 00:43:39.920 ⇒ 00:43:45.400 iberrigan: 80, probably 70% at least, could go from one to the other without even looking at it.
340 00:43:46.670 ⇒ 00:43:52.309 Mike Klaczynski: Yeah, so AI systems can do that pretty effectively now, and say, hey, based on this form, fill out this form.
341 00:43:53.920 ⇒ 00:43:56.789 Uttam Kumaran: One piece I want to ask about,
342 00:43:56.940 ⇒ 00:44:12.730 Uttam Kumaran: you know, and then the last… one of the… two questions, so… and the second one, I want to talk about, like, you know, how to… what is the buying process in this industry? But, talk to me about, like, the operational aspects, Ian, like, you have a book of business, all of these people have policies and documents associated.
343 00:44:12.770 ⇒ 00:44:17.570 Uttam Kumaran: You know, you’re doing common things, probably like needing to get reminded of renewals.
344 00:44:17.640 ⇒ 00:44:30.039 Uttam Kumaran: looking through, like, all of a client’s past documents that they have with you, potentially looking through all documents across all clients. Like, are there activities in the brokerage that rhyme with any of that?
345 00:44:30.070 ⇒ 00:44:40.900 Uttam Kumaran: And, yeah, if you can talk through, like, that’s just sort of, like, less about the single transaction, about just the operation of the policies and, like, the activities that come out of that.
346 00:44:41.260 ⇒ 00:44:42.930 iberrigan: Yeah, so…
347 00:44:43.010 ⇒ 00:45:00.440 iberrigan: Yeah, my quasi-solution to that has been, you know, I’ve been finding that without the help of account managers or CSRs, that that is their bread and butter, that’s what they sit at the desk, that’s what their salaries are for, for them to handle those interactions with clients, making changes when they ask questions about coverage.
348 00:45:00.440 ⇒ 00:45:08.460 iberrigan: hey, I have this new contract, can you confirm the insurance that we have meets the requirements, blah blah blah, all the day-to-day stuff, when you already have business on the books.
349 00:45:08.480 ⇒ 00:45:16.459 iberrigan: I’ve created, like, a custom GPT that I feed information from my clients, you know, have it trained and prompted to be
350 00:45:16.790 ⇒ 00:45:35.910 iberrigan: essentially an AI account executive, and, like, I interact with that to ask questions, to help me respond to emails, to dig for information. It’s not perfect, it’s just, like, my quick solution, but I think if there was a fully built-out version of that internally for any agency, like a custom
351 00:45:36.050 ⇒ 00:45:51.079 iberrigan: AI brain that knows your clients, knows your policies on hand, knows your renewal dates, knows the pending cancellations that have been sent through from the premium finance companies or from the carriers directly. Something that has all that and can monitor an email inbox.
352 00:45:51.480 ⇒ 00:45:56.740 iberrigan: could be legendary, and, like, I want that for my agency day one, because one.
353 00:45:56.840 ⇒ 00:46:15.330 iberrigan: it’s gonna increase revenue per head in the agency, which is massive, and then obviously everybody in the independent insurance agency space is either looking to roll up and grow by acquiring other companies that are… that have books of business, or they’re gonna sell to private equity. So it’s like, at that point, you’re increasing revenue per head.
354 00:46:15.450 ⇒ 00:46:22.849 iberrigan: The book is good. I mean, you’re able to get 10 to 14X EBITDA on exits in commercial insurance brokerages, PMC.
355 00:46:22.970 ⇒ 00:46:26.770 iberrigan: I mean, that… that is just, like, it could be a mother printer, and…
356 00:46:26.880 ⇒ 00:46:37.730 iberrigan: I want that for myself. I have my own little version of it, but if something was built out, and that was an all-in-one solution for an agency, like, the all-seeing eye.
357 00:46:37.930 ⇒ 00:46:44.880 iberrigan: for your entire book of business, and everything coming in and out of the inboxes to the company, I could see that being…
358 00:46:45.190 ⇒ 00:46:48.490 iberrigan: Huge, for sure. I would pay… I would pay…
359 00:46:48.690 ⇒ 00:46:50.849 iberrigan: I would pay an unlimited amount of money for that.
360 00:46:50.920 ⇒ 00:46:51.450 Holly Condos: Bye.
361 00:46:51.840 ⇒ 00:46:52.750 Uttam Kumaran: What’s up?
362 00:46:53.090 ⇒ 00:46:59.300 Mike Klaczynski: That’s what RAG systems are, right? They’re supposed to take all of your proprietary data that ChatGPT doesn’t have access to.
363 00:46:59.750 ⇒ 00:47:04.950 Mike Klaczynski: be able to reason over that, so… Exactly. Utam, I heard the magic number, unlimited money, so there you.
364 00:47:04.950 ⇒ 00:47:06.669 Uttam Kumaran: Yeah, yeah, me too. Let’s do it.
365 00:47:06.670 ⇒ 00:47:11.830 iberrigan: I mean, that’s for everybody else, not my agency. I’ll be a pilot. I want a pilot price.
366 00:47:12.650 ⇒ 00:47:13.120 Holly Condos: Well, yeah.
367 00:47:13.120 ⇒ 00:47:13.439 Uttam Kumaran: That was…
368 00:47:13.440 ⇒ 00:47:16.839 Holly Condos: My question, what do you think the appetite is
369 00:47:17.120 ⇒ 00:47:22.319 Holly Condos: With the major insurance companies, budget-wise, and just appetite for.
370 00:47:23.290 ⇒ 00:47:38.910 Uttam Kumaran: Yeah, I’m also interested in, like, what, like, what the software buying or solution buying process looks at some of these places, like, whether it’s from an IT service firm or software, like, who makes that decision? Like, how do they typically look at, like, a software budget? Are they comparing that to, like.
371 00:47:38.910 ⇒ 00:47:41.650 Mike Klaczynski: Okay, we could save headcount, are they comparing that to, like.
372 00:47:41.650 ⇒ 00:47:44.609 Uttam Kumaran: Okay, we can grow revenue, you can talk about that.
373 00:47:45.210 ⇒ 00:47:56.010 iberrigan: So, you know, I’m… I’m pretty new. I mean, I have… I have, like, a wide range of, like, understanding from different angles on this, but I’ve never truly been in a principal…
374 00:47:56.200 ⇒ 00:47:58.640 iberrigan: You know, owning an agency from…
375 00:47:58.750 ⇒ 00:48:04.779 iberrigan: ground… ground level until the last couple months, and I… I think, number one, it’s gonna be…
376 00:48:05.280 ⇒ 00:48:10.009 iberrigan: you don’t… and I’ve heard a lot of agency owners in the past tell me that the reason they stop
377 00:48:10.220 ⇒ 00:48:29.479 iberrigan: chasing their own independent agency dream was because they ran out of marketing dollars. You’ve got to have business coming in the door to justify spending any amount of money on your book of business or retention efforts. So, I think majority of people in my position would want to spend money on leads and trying to find opportunities more so than
378 00:48:29.610 ⇒ 00:48:38.929 iberrigan: having help servicing an existing book, which is obviously gonna be smaller at the beginning. I think…
379 00:48:39.720 ⇒ 00:48:56.210 iberrigan: a lot of it is, a lot of times you’ll have, like, all these new shiny things. People will go out and pay this vendor 40, 50 bucks a month for this service, 200 a month, and whatever. Everything is all separate, different vendors.
380 00:48:56.210 ⇒ 00:49:04.409 iberrigan: And they don’t talk to each other perfectly all the time, so there’s always this disconnect, and that’s just causing more headache than it is helping them out.
381 00:49:04.900 ⇒ 00:49:12.589 iberrigan: having something to streamline everything under one roof would be ideal. I think people would be…
382 00:49:12.690 ⇒ 00:49:23.760 iberrigan: intrigued as agency owners to have an all-in-one solution for something like that, that not only helps them service, but also can generate more revenue. I think… I think…
383 00:49:23.760 ⇒ 00:49:35.629 iberrigan: Being able to speak to both of those things would help with the product offering, or just, you know, the ability to get people’s interest, or willing… have them be willing to put a card down for the service.
384 00:49:35.700 ⇒ 00:49:36.630 iberrigan: Not just…
385 00:49:36.630 ⇒ 00:49:54.320 Uttam Kumaran: When they’re… when they’re buying, like, when these guys are… when your team is buying, like, CRMs, or, like, if you’re… if Adhesib, you guys have anything that’s, like, AI, something, are they really, like, buying based on, like, a demo? Are they, like, getting a flashy demo, and then… or, like… like, how is… how are they… how are those softwares getting in?
386 00:49:54.640 ⇒ 00:49:56.590 iberrigan: I feel like… It’s so funny.
387 00:49:56.590 ⇒ 00:49:57.700 Uttam Kumaran: Word of mouth?
388 00:49:57.700 ⇒ 00:49:58.390 iberrigan: It’s like I’m a…
389 00:49:58.390 ⇒ 00:50:03.210 Uttam Kumaran: monopoly, dude, because there’s Vertifor, obviously. Yeah. I don’t know, Verti4 is, like, the…
390 00:50:03.500 ⇒ 00:50:14.569 iberrigan: if they see any opportunity in the market, they just buy them out, and then make them a Verti4 product. It’s slow, it’s clunky, it’s… everybody wants ownership over the data, and…
391 00:50:14.930 ⇒ 00:50:18.820 iberrigan: I, I… I don’t think… I don’t think…
392 00:50:20.030 ⇒ 00:50:25.610 Uttam Kumaran: Like, like, who runs, like, the Teams at TSIB, like, the Teams account? Like, is it IT?
393 00:50:26.480 ⇒ 00:50:37.579 iberrigan: Yeah, it’s not even gonna be anyone that makes buying decisions for insurance stuff. Like, those people are just IT, they don’t even… they’ve never sold a policy in their life, they don’t understand what…
394 00:50:38.190 ⇒ 00:50:45.209 iberrigan: Like, what it takes to run an agency, or be profitable, or sell a policy, or do an application. They’ve never done that.
395 00:50:45.640 ⇒ 00:50:48.150 Uttam Kumaran: During your time at TCIP, have you seen…
396 00:50:48.510 ⇒ 00:50:51.260 Uttam Kumaran: New software come in that isn’t, like.
397 00:50:51.570 ⇒ 00:50:55.350 Uttam Kumaran: Microsoft Office-type stuff? Like, have you seen new things come in?
398 00:50:55.350 ⇒ 00:50:57.740 iberrigan: Yeah, because of me. Literally.
399 00:50:57.740 ⇒ 00:50:58.250 Uttam Kumaran: So, yeah.
400 00:50:58.250 ⇒ 00:51:00.069 iberrigan: Boots on the ground, yeah. It’s…
401 00:51:00.070 ⇒ 00:51:08.820 Uttam Kumaran: And talk about that, like, are you like, hey, there’s this great software, like, we used it for free, or we’re on a trial, it’s crushing, like, we need to put a car down?
402 00:51:09.150 ⇒ 00:51:12.019 iberrigan: Yeah, it’s only… it’s only been, like…
403 00:51:12.550 ⇒ 00:51:22.759 iberrigan: it’s been hard because it’s so… there’s so much hierarchy, and it’s just so old, and… and it’s hard to get them to… to understand. Like, I can’t… I can’t communicate the value very well.
404 00:51:22.920 ⇒ 00:51:28.429 iberrigan: Because they don’t know what… they don’t really care. They’re like, oh, is it gonna help us make more money? Yes or no? And I’m like, well…
405 00:51:28.520 ⇒ 00:51:44.090 iberrigan: I mean, it’s gonna save us time so I can actually go sell insurance and not be servicing my book alongside my account managers that are supposed to do this themselves. Yeah. So it’s service burden, and will this allow you to have more time to go sell?
406 00:51:45.220 ⇒ 00:51:47.230 iberrigan: Okay. That’s really it.
407 00:51:47.640 ⇒ 00:51:51.909 Mike Klaczynski: Yeah, we were talking to an insurance company, I think it was actually in San Diego.
408 00:51:52.120 ⇒ 00:52:03.439 Mike Klaczynski: And I forget what the exact numbers was, but it was an order of magnitude more that they wanted to do, so it was probably something like, they were at 40 policies or something they were writing a month, and they wanted to get to 400.
409 00:52:03.440 ⇒ 00:52:03.820 Holly Condos: Wow.
410 00:52:03.820 ⇒ 00:52:09.250 Mike Klaczynski: And that’s exactly what they wanted the AI technology to come in, is take… take advantage
411 00:52:09.380 ⇒ 00:52:13.220 Mike Klaczynski: And take care of all just the super menial stuff, right?
412 00:52:13.220 ⇒ 00:52:13.580 Uttam Kumaran: Yeah.
413 00:52:13.580 ⇒ 00:52:20.690 Mike Klaczynski: Like, you want to be out there going to events, going to meetings, and you don’t want to be transcribing forms from one to another. Exactly.
414 00:52:21.160 ⇒ 00:52:24.140 Mike Klaczynski: Or, having a higher, you know.
415 00:52:24.440 ⇒ 00:52:29.130 Mike Klaczynski: people to come in and do that, and you have to train them, and you probably have churn, and you’re constantly… because it’s, like, an entry.
416 00:52:29.130 ⇒ 00:52:32.820 Uttam Kumaran: Yeah, Ian, do those people under you sell? Like, are they on the commercial side at all?
417 00:52:33.790 ⇒ 00:52:35.170 Uttam Kumaran: like, the…
418 00:52:37.110 ⇒ 00:52:40.640 iberrigan: They don’t sell at all. They manage my clients, that’s all they do.
419 00:52:41.690 ⇒ 00:52:43.289 iberrigan: Oh, did I… am I still here?
420 00:52:43.290 ⇒ 00:52:44.190 Uttam Kumaran: No, no, I gotcha, I got.
421 00:52:44.460 ⇒ 00:52:45.720 iberrigan: Okay, yeah, they…
422 00:52:46.050 ⇒ 00:53:01.989 iberrigan: they literally just manage existing relationships and renewals, so they’ll send… that’s another opportunity. Renewal timelines, those should be automated. They’re starting to… we’re starting to see some built-in automation for renewal processes, 90-day, 60-day, 30-day out, you know, through…
423 00:53:08.020 ⇒ 00:53:27.939 iberrigan: the agency management software, whatever, please provide XYZ, your renewal’s upcoming, has your business changed? Like, then there’s a few questions, or whatever. Right now, I do that manually. I meet with my team once a month, we go over all the renewals that are coming up, and then I assign it to each of them to them, and say, hey, make sure you go collect this information.
424 00:53:28.840 ⇒ 00:53:32.219 iberrigan: Based on what the carrier’s asking for.
425 00:53:32.590 ⇒ 00:53:34.559 iberrigan: Carrie, no.
426 00:53:38.640 ⇒ 00:53:39.629 Mike Klaczynski: We’re losing you.
427 00:53:39.830 ⇒ 00:53:40.330 Holly Condos: Yeah.
428 00:53:40.330 ⇒ 00:53:43.820 Uttam Kumaran: Losing them a little bit. I guess, like, at the… kind of two things I’m thinking about…
429 00:53:43.820 ⇒ 00:53:44.950 iberrigan: Notify the client.
430 00:53:46.080 ⇒ 00:54:00.229 Uttam Kumaran: two things I’m thinking about, Mike, is, like, one, I think totally there’s at least two or three demos that we can put together. I probably… Ian, I have some of the old sub-apps, but I can maybe ask you, and we can just get a bunch of them, and
431 00:54:00.740 ⇒ 00:54:06.160 Uttam Kumaran: Mike, just basically throw them in and start to think about some use cases, and then we can round up more agents around it.
432 00:54:06.270 ⇒ 00:54:15.639 Uttam Kumaran: I think hearing about the buying process is also helpful, meaning we’ll have to find, like, a champion, you know, someone internally that can drive it. It’s not like an IT decision.
433 00:54:15.930 ⇒ 00:54:26.889 Uttam Kumaran: But I feel like, totally, this sounds like something up the alley, where it’s really bespoke, like, it’s based on your documents, and… but there is something that is…
434 00:54:27.400 ⇒ 00:54:35.030 Uttam Kumaran: something that every broker, you know, could use, basically attacking, like, hey, you don’t need these junior folks that are pure OPEX to do this work.
435 00:54:35.130 ⇒ 00:54:54.140 Uttam Kumaran: And you can start to use the agents to do it yourselves, and ideally start to, like, have those on trigger or some sort of schedule. You know, that makes a lot of sense. I think my only ask, Ian, is do you, have, like, an equivalent friend that’s at a bro… that’s at an insurance provider that may be willing to say hi?
436 00:54:57.460 ⇒ 00:55:02.120 iberrigan: Like, like, an insurance… insurance company, or, like, what, in the same role as me at a brokerage?
437 00:55:02.120 ⇒ 00:55:02.810 Uttam Kumaran: No, no, no, no.
438 00:55:02.810 ⇒ 00:55:03.360 Mike Klaczynski: writer?
439 00:55:03.360 ⇒ 00:55:05.150 Uttam Kumaran: company. At a provider.
440 00:55:05.150 ⇒ 00:55:06.279 iberrigan: Oh, an underwriter.
441 00:55:06.550 ⇒ 00:55:07.720 Uttam Kumaran: Un… yeah, yeah, yeah.
442 00:55:11.550 ⇒ 00:55:28.019 iberrigan: So, I actually do have… I actually do have a buddy… this might be a little nuanced, but I think there… I think the biggest opportunity for AI is retail agents, but then wholesale… Wholesalers. I have a guy who works for one of the largest wholesale brokerages called CRC.
443 00:55:28.460 ⇒ 00:55:32.590 iberrigan: He actually was an underwriter.
444 00:55:32.880 ⇒ 00:55:39.139 iberrigan: in the professional liability space for a couple years, and now he is a broker just like me, but for wholesale, so he…
445 00:55:39.360 ⇒ 00:55:46.630 iberrigan: His clients are retail agencies like myself, not business owners, so he’s the next step of the chain.
446 00:55:46.890 ⇒ 00:55:51.070 iberrigan: He would probably be willing to chat.
447 00:55:52.870 ⇒ 00:56:01.499 iberrigan: Yeah, especially because I… I pay him, basically. Like, he… I’m his client, so if I… if I tell him about this, he might be willing to…
448 00:56:01.500 ⇒ 00:56:07.900 Uttam Kumaran: Maybe it’s, like, maybe we work on something together, and that way we… if we get in touch with him, we have something to show, and…
449 00:56:08.190 ⇒ 00:56:09.590 Uttam Kumaran: You know, could be good.
450 00:56:09.860 ⇒ 00:56:26.249 iberrigan: they… and they’ll have a lot of technology already, because they’re huge. I think that’s where you’ll see a disconnect in communicating with them, and he’ll probably already have AI tools and all these things, because CRC is massive, and they know the value in implementing that kind of tech, because it’ll reduce
451 00:56:26.400 ⇒ 00:56:29.169 iberrigan: Time spent and increased revenue, but…
452 00:56:29.460 ⇒ 00:56:42.139 iberrigan: for the smaller retail brokerages, you’ll find a lot of people that don’t have any AI, or that just heard about ChatGPT, or whatever. Or they’re already at a point where they got multiple millions in their book of business, and they’re just so…
453 00:56:42.450 ⇒ 00:56:49.450 iberrigan: old school and already at this point where they can’t implement it without it being too much of a headache. So they just say, hey, it’s been working, we’ll keep doing it the way we’ve been doing it.
454 00:56:49.450 ⇒ 00:56:50.180 Holly Condos: Boom.
455 00:56:51.460 ⇒ 00:56:52.900 iberrigan: I think there’s.
456 00:56:52.900 ⇒ 00:57:07.590 Mike Klaczynski: Yeah, Utom, we could probably do more than just a demo, right? Like, we could actually build an app, and then you guys could go to market with this app and say, we’ve got this turnkey, it does these three things right now, but we’ve got roadmap to add additional ones, and all they do is ingest the documents.
457 00:57:07.660 ⇒ 00:57:27.359 Mike Klaczynski: And then it does, like, the transcription, it does, you know, filling out one form to another, and the ultimate goal being that, I think, Ian, you called it an all-seeing eye, right? Where, like, all your shit, your emails, everything’s in there, and you can just ask it questions and say, what renewals are coming up, you know, whatever it might be.
458 00:57:28.390 ⇒ 00:57:29.050 iberrigan: Yup.
459 00:57:29.350 ⇒ 00:57:33.330 iberrigan: Yup, I think that… I think that we… B…
460 00:57:33.440 ⇒ 00:57:39.560 iberrigan: because I’ve done… I can’t… I can’t… I mean, I just… I, like, just got my business…
461 00:57:39.980 ⇒ 00:57:43.350 iberrigan: Business set up in sep… September… no.
462 00:57:43.700 ⇒ 00:57:50.219 iberrigan: transacted my first few pieces of business, but I took, like, probably 40 or 50 different demos on…
463 00:57:50.240 ⇒ 00:58:07.650 iberrigan: InsureTech software, and none of them really struck me as, like, a, oh, this is the one. It was like, okay, this one seems like it might be the best at this piece that I’m probably wanting to automate. This one over here seems like it’s like, okay, this one’s definitely really good at this, and it looks good, the UI is better on this one. It’s like.
464 00:58:07.650 ⇒ 00:58:15.319 iberrigan: none of them were like, oh my god, like, I can say scratch all the other ones and just stick with this, and, like, this is gonna help me enough.
465 00:58:15.850 ⇒ 00:58:16.630 iberrigan: like…
466 00:58:16.630 ⇒ 00:58:17.250 Uttam Kumaran: Yeah.
467 00:58:17.520 ⇒ 00:58:23.060 iberrigan: So, I mean, there’s a bunch of names I could drop or provide. I’m sure you’ve done your research too, Mike, but, like.
468 00:58:23.310 ⇒ 00:58:30.750 iberrigan: there’s… There’s not really one in the market that makes me think that this has already been achieved, like…
469 00:58:32.920 ⇒ 00:58:34.790 iberrigan: I don’t know if that’s… hopefully that’s.
470 00:58:34.790 ⇒ 00:58:35.500 Uttam Kumaran: Yeah.
471 00:58:35.500 ⇒ 00:58:38.020 Mike Klaczynski: Tell us what the gaps are, we can work on building it.
472 00:58:39.020 ⇒ 00:58:48.470 Uttam Kumaran: Yeah, so I think one thing we can do is we’ll put together a demo, and Ian, I mean, you’re in market right now, you should try to use the… should try to use the tool and see how it works.
473 00:58:48.470 ⇒ 00:58:49.010 iberrigan: I don’t…
474 00:58:49.010 ⇒ 00:58:57.390 Uttam Kumaran: Yeah, so maybe that’s what we drive towards, Mike, like, this month. I think we… this is, like, a really super, super clear use case.
475 00:58:57.840 ⇒ 00:59:10.840 Uttam Kumaran: We’re also, I mean, we’re continuing to push a little bit on the legal side, so we have a conversation with a friend that does a lot in personal injury, stuff like that, so kind of see where his head’s at, but I think, at least here.
476 00:59:10.840 ⇒ 00:59:30.139 Uttam Kumaran: I have a super clear scope. One thing, Mike, I messaged in the… in our channel just to see if there’s any other demos you guys came out with that we can sort of build on top of, but, like, I feel like I know enough out of this to have our team… I’ll put together a doc based on, basically, like, what a proof of concept could look like here, and then maybe we could see how we can all work together on it.
477 00:59:30.870 ⇒ 00:59:39.509 Mike Klaczynski: Yeah, Raj can definitely help build it out. Some of this ACL stuff, it’s designed to be programmatic with YAML, right? So, like, instead of just…
478 00:59:39.940 ⇒ 00:59:55.029 Mike Klaczynski: prompting and vibe prompting with the agent and hoping it comes up, like, you can literally specify, this is exactly what has to go into this field, and that becomes the magic of the system, right? Because you don’t want to turn the system over to someone like Ian or someone else, and then they’re scratching their head trying to tune it and optimize it.
479 00:59:55.030 ⇒ 00:59:59.150 iberrigan: It needs to be, like, configured where it really understands the use case in the industry.
480 00:59:59.210 ⇒ 01:00:09.780 Mike Klaczynski: Yeah. And like you said, right, like, your contractors are gonna be different than your painters, than your concrete workers, than your mom-and-pop donut shop, right? Like, it’s… there’s gonna be flavors.
481 01:00:12.170 ⇒ 01:00:19.070 iberrigan: Yup. There’s definitely gotta be, you know, some of the mom-and-pop, like, business owner policies that fit into, like, a very easy buckets.
482 01:00:20.800 ⇒ 01:00:22.069 iberrigan: Yeah, those are…
483 01:00:22.780 ⇒ 01:00:34.509 iberrigan: Go on an online portal, fill in a few questions, get a good thing for the tool to go after that piece, or more so the complex stuff with a lot more back and forth, or whatever, but then you have the… there’s personal lines.
484 01:00:34.620 ⇒ 01:00:39.429 iberrigan: Insurance, which is way less… you know.
485 01:00:39.470 ⇒ 01:00:55.480 iberrigan: way less back and forth and very straightforward. There’s… people create aggregators that type in the information, and it pops out 8 quotes from different insurance companies. You click into it, then go in and finalize and do whatever. Like, I… I helped a sales team at Hippo Insurance build that out 3, 4 years ago now.
486 01:00:55.480 ⇒ 01:01:12.880 iberrigan: So, that… that was cool, but that’s only for homeowners or auto products on the personal line side. There’s nothing like that for commercial insurance. Like, it’s… it’s hard. Bold Penguin would be a good one for you to look at. That’s probably the only solution for, like, a click, quote, and bind for a… for a broker or an agent.
487 01:01:13.070 ⇒ 01:01:14.549 iberrigan: On the commercial side.
488 01:01:14.860 ⇒ 01:01:15.850 iberrigan: Cold.
489 01:01:15.850 ⇒ 01:01:17.010 Mike Klaczynski: Old Penguin?
490 01:01:17.010 ⇒ 01:01:19.280 iberrigan: Bold Penguin, yeah, Bold Penguin.
491 01:01:19.870 ⇒ 01:01:35.369 iberrigan: And I’m just gonna give you these last few, just so you have them on your end to look through, but assembly is a good one for… that I’ve found of all my demos for intake forms. S-E-M-B-L-Y. I’m thinking about paying…
492 01:01:37.410 ⇒ 01:01:42.249 iberrigan: Paying them, you know, just for… to test out their product. And then…
493 01:01:42.250 ⇒ 01:01:44.029 Holly Condos: Was it Ian you cut out?
494 01:01:44.030 ⇒ 01:01:44.820 iberrigan: We’re talking…
495 01:01:44.820 ⇒ 01:01:47.790 Uttam Kumaran: Assembly, I think. Is it assembly? S…
496 01:01:49.130 ⇒ 01:01:49.670 Mike Klaczynski: Dumbly, okay.
497 01:01:49.670 ⇒ 01:01:50.720 iberrigan: C-M-B-O-Y.
498 01:01:50.720 ⇒ 01:01:52.949 Holly Condos: Okay, oh, they’re pulling one up and outside.
499 01:01:53.720 ⇒ 01:01:55.550 Uttam Kumaran: What was the… is there another one after that?
500 01:01:56.310 ⇒ 01:02:01.350 iberrigan: Yeah, there was… there was one that I sent you, Tom, that came up the other day.
501 01:02:01.350 ⇒ 01:02:05.630 Uttam Kumaran: Oh, yeah, yeah, yeah, I don’t know if I’m gonna try to come to the… the demo tomorrow.
502 01:02:05.630 ⇒ 01:02:08.889 iberrigan: Yeah, demos tomorrow. That one might.
503 01:02:08.890 ⇒ 01:02:12.600 Uttam Kumaran: Is that just a demo… is that just a… is that a webinar, or is it a demo with you?
504 01:02:12.600 ⇒ 01:02:20.709 iberrigan: It’s like a webinar. They… I’ve seen that a lot. People just set up those, like, pre-recorded… or not pre-recorded, like, it’ll be a live webinar, but they just do that.
505 01:02:21.020 ⇒ 01:02:24.540 Uttam Kumaran: It’s alive. Yeah, maybe, Holly, I’ll add you to… I was just gonna listen in.
506 01:02:24.540 ⇒ 01:02:25.230 Holly Condos: Peace.
507 01:02:26.200 ⇒ 01:02:33.810 Uttam Kumaran: basically, I was like, hey, are you talking to any other, like, AI-insured tech people that look decent? Add me to it, so I can kind of get a sense of what the market is, so…
508 01:02:33.810 ⇒ 01:02:40.739 iberrigan: So that one, to me, seems like, from a high-level perspective, and obviously they’re trying to sell you on a dream on their landing page, but…
509 01:02:40.840 ⇒ 01:02:56.229 iberrigan: of all the things I’ve seen or sat through before the demo, I’m saying this, so it could change after the demo, this one looks like it could be that all-seeing eye. Not quite that, but just more so, like, a robust offering with more tools than just, oh, we do intake forms. Like, I think this one’s more, like.
510 01:02:56.230 ⇒ 01:03:06.279 iberrigan: We know brokers, we know agencies, and what they struggle with to get business in the door quick, efficiently, and we’ve built this whole suite of tools. Like, that’s what it looks like.
511 01:03:06.920 ⇒ 01:03:08.000 iberrigan: So we’ll see.
512 01:03:08.500 ⇒ 01:03:18.780 iberrigan: I’m always looking for new stuff, so if anything comes across that seems like it’s worth looking into, or just checking out what they’re working on, I’ll keep us all on the news.
513 01:03:20.030 ⇒ 01:03:23.179 Mike Klaczynski: Is it Assembly AI? It’s like a note taker?
514 01:03:23.720 ⇒ 01:03:30.580 iberrigan: No, that’s a different, different company. But yes, that is a different product. Look up…
515 01:03:31.250 ⇒ 01:03:34.250 iberrigan: Let me see the exact one. Assembly… Oh, Assembly?
516 01:03:34.250 ⇒ 01:03:36.480 Uttam Kumaran: S-E-M-B-L-E-Y.
517 01:03:36.820 ⇒ 01:03:37.940 iberrigan: Oh, it’s EY.
518 01:03:38.660 ⇒ 01:03:41.810 iberrigan: Oh yeah, it is, my bad. It’s L-E-Y.
519 01:03:43.610 ⇒ 01:03:43.970 Mike Klaczynski: There it is.
520 01:03:43.970 ⇒ 01:03:48.089 Uttam Kumaran: I always love these, I always love the websites, because they always look way better than the product.
521 01:03:48.090 ⇒ 01:03:52.939 iberrigan: I know, but you know what’s funny? That’s what I’m… I recognize that, so that’s what my…
522 01:03:52.940 ⇒ 01:03:56.670 Uttam Kumaran: See, that’s funny, it’s way easier to make a website, dude. Yeah.
523 01:03:56.670 ⇒ 01:04:03.070 iberrigan: My website’s gonna look like I’m a, you know, a billion-dollar tech company, and really, I’m just a one-man AI-empowered broker.
524 01:04:03.070 ⇒ 01:04:03.950 Mike Klaczynski: Really?
525 01:04:03.950 ⇒ 01:04:09.789 iberrigan: Isn’t… isn’t ancient, and, you know, is willing to, like, Try to implement this tech.
526 01:04:09.790 ⇒ 01:04:13.010 Uttam Kumaran: Yeah… Nice.
527 01:04:13.010 ⇒ 01:04:21.480 iberrigan: But yeah, those are the three I would recommend. And then Wonder Wright is just like Assembly. Wonder Wright is… we… Utah, Tom and I,
528 01:04:21.630 ⇒ 01:04:24.850 iberrigan: had dinner with the CEO of that company, and…
529 01:04:25.060 ⇒ 01:04:28.390 iberrigan: Yeah, that was about it. Not a very nice guy.
530 01:04:28.790 ⇒ 01:04:33.929 Uttam Kumaran: Yeah, this guy, Wonder Right, they’re almost building, like, it’s just, like, a super UI-heavy…
531 01:04:34.310 ⇒ 01:04:39.720 Uttam Kumaran: like, almost like a ERP-type product for insurance.
532 01:04:40.110 ⇒ 01:04:42.729 Uttam Kumaran: And the CEO was not very nice.
533 01:04:42.730 ⇒ 01:04:44.250 Holly Condos: to me, so… -Oh.
534 01:04:44.250 ⇒ 01:04:48.489 iberrigan: I think they’re doing so many things now, it’s gonna be hard for them to just, like…
535 01:04:49.060 ⇒ 01:04:52.209 iberrigan: I don’t know, like, I don’t know. He was just mean, so…
536 01:04:53.980 ⇒ 01:04:55.199 Holly Condos: Maine is never good.
537 01:04:55.630 ⇒ 01:04:58.210 Uttam Kumaran: I know, I… I just wanted a demo.
538 01:04:58.550 ⇒ 01:05:04.049 iberrigan: Yeah, we just… because, like, we had an idea for that, that intake form, or, like, that, you know.
539 01:05:04.050 ⇒ 01:05:06.419 Uttam Kumaran: Yeah. Transcribing the, the…
540 01:05:06.620 ⇒ 01:05:09.840 iberrigan: application info years ago, and it was just like… Yeah.
541 01:05:09.950 ⇒ 01:05:11.619 iberrigan: the AI was not there.
542 01:05:12.800 ⇒ 01:05:21.449 Mike Klaczynski: On there, the example on WonderRite is trucking. Isn’t trucking, like, the single largest small business employer in the country?
543 01:05:23.030 ⇒ 01:05:23.720 iberrigan: I don’t know.
544 01:05:24.340 ⇒ 01:05:29.009 Uttam Kumaran: Yeah, well, I think a lot of them are LLCs, like, you have to open your own LLC, and then you have…
545 01:05:29.010 ⇒ 01:05:30.409 Mike Klaczynski: They all have to get assurance.
546 01:05:30.650 ⇒ 01:05:31.040 Uttam Kumaran: Yeah.
547 01:05:31.040 ⇒ 01:05:48.619 iberrigan: Yeah, yeah, tractor units cost at least 10 grand a year just for the liability, per unit, so that… they’re good accounts to go after, but they suck because there’s not a lot of markets that offer coverage. There’s very… very few markets, and the commercial auto industry, oh my god, it’s extremely high risk, because, you know.
548 01:05:48.620 ⇒ 01:05:54.520 iberrigan: one loss, it’s a multi-million dollar loss, minimum, you know? They kill someone, it’s over, you know?
549 01:05:54.520 ⇒ 01:05:55.060 Mike Klaczynski: Yup.
550 01:05:55.210 ⇒ 01:06:06.400 iberrigan: Nobody wants that business anymore, especially in California. I do a lot of business in California. But I mean, and another thing that happens a lot in the insurance industry is you’ll get
551 01:06:06.530 ⇒ 01:06:19.790 iberrigan: People will build books of business in one vertical, like, say, trucking, and then they will have enough leverage through volume to go to an insurance company and develop a specific program with preferential rates, terms.
552 01:06:19.860 ⇒ 01:06:28.310 iberrigan: whatever, strictly because they were able to provide volume in that category. And then it becomes, oh, shit, these people are gonna monopolize this… this group of… of…
553 01:06:28.520 ⇒ 01:06:33.210 Mike Klaczynski: Opportunities, because they just have access to a market that no other brokerage can get.
554 01:06:33.210 ⇒ 01:06:33.780 iberrigan: too.
555 01:06:34.090 ⇒ 01:06:35.040 Mike Klaczynski: So…
556 01:06:35.040 ⇒ 01:06:45.700 iberrigan: I know that that’s the case for trucking. I’m not really interested in going down that rabbit hole. Contractors, construction, home builders, real estate development, those have been…
557 01:06:45.810 ⇒ 01:07:02.209 iberrigan: from day one, where I’ve seen the most opportunity, and you have to get… you don’t have to get the $100 million a year companies to generate a lot of premium dollars, or to generate a lot of commission revenue for your brokerage. You can do a lot of small stuff, and the ratio between premium to…
558 01:07:02.340 ⇒ 01:07:07.930 iberrigan: size of account is a lot tighter than it is for other verticals, so…
559 01:07:09.150 ⇒ 01:07:09.600 iberrigan: Yeah.
560 01:07:09.600 ⇒ 01:07:12.550 Mike Klaczynski: It’s kind of tangential, but…
561 01:07:13.220 ⇒ 01:07:18.440 Mike Klaczynski: Do you encounter situations where, like, translation would be helpful? Where people in their native language
562 01:07:18.550 ⇒ 01:07:28.909 Mike Klaczynski: would be much more effective at filling out these forms. I’m thinking, like, Spanish, and like, you know, I think there’s a lot of Indian folks that drive as well, especially around where I live.
563 01:07:28.910 ⇒ 01:07:29.330 iberrigan: go.
564 01:07:29.330 ⇒ 01:07:34.330 Mike Klaczynski: So, same thing, like, sometimes it’s difficult to do it in the same language, right?
565 01:07:34.700 ⇒ 01:07:46.920 iberrigan: I would say… I would say in certain verticals, you’d probably see a lot of that, like, so, trucking, yeah. I mean, if you’re working with the small LLC to have, like, 1 to 3, maybe 4 tracking units.
566 01:07:47.310 ⇒ 01:07:54.550 iberrigan: sure, I’ve never written a policy for those type of people, because they’re generally less sophisticated than the type of clientele I want to.
567 01:07:54.550 ⇒ 01:07:55.020 Mike Klaczynski: Yep.
568 01:07:55.020 ⇒ 01:08:03.409 iberrigan: pursue. It causes more headaches, you know, less understanding, they’re gonna be trying to cheat the system.
569 01:08:03.810 ⇒ 01:08:08.490 iberrigan: Cut corners, reduce cost. And that’s not me trying to be,
570 01:08:09.280 ⇒ 01:08:14.070 iberrigan: prejudice or anything, like, it’s just the facts. Like, I’ve dealt with it, and I don’t like to do it.
571 01:08:14.190 ⇒ 01:08:32.430 iberrigan: So, construction, though, I will say, yeah, you’ve got a lot of semi, you know, sophisticated people doing north of a few million in revenue who might be speaking Spanish. You know, they started a concrete business, next thing you know, they got 50 employees, and they’re doing millions of revenue, and become a trade partner with a large GC like Turner, or a huge company. Yeah, there’s a lot of that, so…
572 01:08:32.439 ⇒ 01:08:32.969 Mike Klaczynski: Yep.
573 01:08:33.479 ⇒ 01:08:37.250 iberrigan: if it were today, and I got a Spanish speaker, I would never have… one, I would never…
574 01:08:37.450 ⇒ 01:08:46.369 iberrigan: have the opportunity, because as soon as I knew that they were Spanish-speaking, I would be… that would be done. I have no… I have no chance in hell. Their broker is gonna speak Spanish.
575 01:08:46.550 ⇒ 01:08:51.790 iberrigan: And they already have a relationship, they’re probably never gonna get… it’s not gonna get severed by some random dude like me.
576 01:08:52.060 ⇒ 01:09:00.329 iberrigan: It would be really cool, though, especially if the form was smart enough to understand, hey, are you a Spanish speaker? Boom, that supplemental becomes…
577 01:09:00.540 ⇒ 01:09:05.499 iberrigan: fully done in Spanish, and it interacts with the client, like, that would be… that’d be sick.
578 01:09:05.500 ⇒ 01:09:06.050 Holly Condos: Yeah.
579 01:09:06.050 ⇒ 01:09:22.159 Mike Klaczynski: I can’t help you learn Spanish, because you’re right, there’s, like, a relationship thing, right? But if you’re already working with somebody and they need to fill out the form, like, one click to have it translated into Spanish is something that AI could do really effectively. All the models, especially in Spanish, can do that super well.
580 01:09:22.160 ⇒ 01:09:32.140 iberrigan: Yeah, I think there’s still that human element, right, where I’m gonna have to have a relationship with this person in order to gain the trust to become their broker and have the opportunity to begin with, but
581 01:09:32.140 ⇒ 01:09:43.610 iberrigan: If this is like a, you know, an intake form on a website, or a landing page, or some sort of marketing effort that leads them to an intake form in Spanish or in their native language, that could still be…
582 01:09:43.770 ⇒ 01:09:44.819 iberrigan: worthwhile.
583 01:09:46.880 ⇒ 01:09:48.540 iberrigan: then I could just have a…
584 01:09:49.810 ⇒ 01:10:07.249 iberrigan: VA that I pay half of my brokerage or my agency, right? Like, it could still help you land business, it’s just, like, it’s not the traditional handshake, let’s go have a coffee and discuss whether or not you want to appoint me as your broker to protect your company. Like, I think there’s definitely opportunity for that to be valuable.
585 01:10:09.120 ⇒ 01:10:09.660 Mike Klaczynski: Cool.
586 01:10:11.640 ⇒ 01:10:12.920 Mike Klaczynski: Super useful.
587 01:10:13.400 ⇒ 01:10:15.720 Uttam Kumaran: Well, great. I think we have good next steps.
588 01:10:16.610 ⇒ 01:10:17.190 Holly Condos: Definitely.
589 01:10:17.190 ⇒ 01:10:17.720 Mike Klaczynski: doing.
590 01:10:18.030 ⇒ 01:10:19.029 Holly Condos: Thank you, Ian.
591 01:10:19.030 ⇒ 01:10:20.830 iberrigan: Yeah, absolutely.
592 01:10:20.830 ⇒ 01:10:27.180 Uttam Kumaran: Super excited about… Yeah, I’m super excited about just being involved in the conversations, because I genuinely want to build.
593 01:10:27.180 ⇒ 01:10:43.999 iberrigan: my agency with this at the forefront, like, AI implementation, and yeah, it’s the… it’s a… it’s a differentiator for me, aside from the fact that I’m a subject matter expert in the types of businesses I’m trying to go after, so this is… it’s revolutionary, and I can’t find a better word for it, like…
594 01:10:44.920 ⇒ 01:10:45.560 Mike Klaczynski: Yep.
595 01:10:45.740 ⇒ 01:10:48.469 Mike Klaczynski: Yeah, and I think that’s the biggest thing, is…
596 01:10:48.640 ⇒ 01:11:06.369 Mike Klaczynski: Like, you have access to these forms, you have all that expertise, you want to build a system that you built that is differentiated for you. Because there is stuff off the shelf, but it’s very generic. Like, Joe Schmo down the street can pay for the same thing, and they’re gonna have the same experience. Like, you want to be able to make the experience you’re offering your clients and the system you’ve built.
597 01:11:06.370 ⇒ 01:11:06.730 iberrigan: Yeah.
598 01:11:06.730 ⇒ 01:11:14.130 Mike Klaczynski: be highly specialized, and again, that’s… that’s kind of what our platform really does. That’s what Retrieval Augmented Generation does, so, exciting.
599 01:11:16.030 ⇒ 01:11:18.560 Mike Klaczynski: Looking forward to connecting again soon.
600 01:11:18.860 ⇒ 01:11:20.300 iberrigan: Yeah, same.
601 01:11:20.760 ⇒ 01:11:22.429 Uttam Kumaran: Thank you all. Appreciate it.
602 01:11:22.430 ⇒ 01:11:23.660 iberrigan: Alright guys, nice meeting you.
603 01:11:23.660 ⇒ 01:11:26.569 Holly Condos: Be in touch. Yep. Okay, thanks. Bye-bye.
604 01:11:26.830 ⇒ 01:11:27.539 Holly Condos: See ya.