I SPENT OVER 22 YEARS IN THE TRADITIONAL INSURANCE INDUSTRY. PRIOR TO THIS, I WAS FOCUSED ON THE MUSIC INDUSTRY. THOSE TWO WORLDS DON'T NATURALLY COLLIDE, SO I SPENT MY INSURANCE CAREER INSIDE MY MUSICIAN BRAIN. THE RESULT WAS AN OUTSIDE LOOK AND INSIDER EXPERIENCE. THE INSURANCE INDUSTRY ISN'T ALL BAD. I STARTED IN THE INDUSTRY WITH LIMITED KNOWLEDGE AND WAS CONFUSED AT HOW IT ALL WORKED. I KEPT AN OPEN MIND. 22 YEARS LATER, I UNDERSTOOD HOW IT WORKED BUT WAS EVEN MORE CONFUSED AS TO WHY THE BROKEN PARTS WEREN'T FIXED. WHY IS THE INDUSTRY SO INEFFICIENT? WHY IS THE INDUSTRY SO EXCLUSIVE? WAS REGULATION HELPING CONSUMERS? 

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I SAW FIRST HAND THE INEQUITIES WITHIN THE PROCESSES: POLICIES DENIED FOR CREDIT SCORE REASONS; FAMILIES DOWN ON THEIR LUCK UNABLE TO GET INSURANCE; SMALL CLAIMS BECOMING BIG HEADACHES. ON TOP OF THOSE EVERY DAY PROBLEMS, THE INDUSTRY FACES AS $1.5 TRILLION COVERAGE GAP. IN OTHER WORDS, THERE ARE $1.5 TRILLION DOLLARS IN CLAIMS THAT CANNOT BE COVERED. THIS COULD BE DUE TO LACK OF INSURANCE CAPITAL CAPACITY, UNDERWRITING EXPERTISE, OR A NUMBER OF REASONS. HOWEVER, WHAT IT REPRESENTS IS A LARGE AMOUNT OF PEOPLE LOSING THEIR PROPERTY, THEIR LIVELIHOODS, THEIR HEALTH WITHOUT EVEN THE OPTION OF HAVING INSURANCE. 

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IN A WORLD BECOMING CONNECTED DAY AFTER DAY AFTER DAY - THIS IMBALANCE SEEMED INEXCUSABLE. THIS COULD BE ADDRESSED WHILE ADDRESSING ALL THE HEADACHES THAT EXIST IN THE EVERY DAY INSURANCE PROCESS. WHAT INCENTIVE EXISTS FOR THE INDUSTRY TO DRIVE DOWN OPERATING COSTS? IS SPENDING $0.60 OF EVERY $1.00 PREMIUM ON OPERATING EXPENSE A SUSTAINABLE MODEL? WITH THE COST OF SETTLING CLAIMS INCREASING AT 25%+ PER YEAR ANY WAY TO BUILD THE FUTURE OF INSURANCE? 

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THOSE ARE THE QUESTIONS I ASKED MYSELF. ALONG CAME BLOCKCHAIN TECHNOLOGY. A DECENTRALIZED FUTURE? NOW, THAT MAKES SENSE. TECHNOLOGY THAT CAN DRIVE EFFICIENCY. TECHNOLOGY TO CONNECT PEOPLE IN WAYS NEVER BEFORE POSSIBLE. TECHNOLOGY THAT CAN BRING NEW CAPITAL TO THE INSURANCE MARKETPLACE. THE MOST OBVIOUS USE CASE I COULD THINK OF WAS INSURANCE. I MEAN, COME ON - IT IS A 300 YEAR OLD INDUSTRY THAT HAS MORE THAN GROWN TOO INEFFICIENT.

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HERE'S THE THING MANY PEOPLE WON'T TELL YOU. WE ALL NEED INSURANCE CAPITAL. THERE ARE MANY NOBLE PARTS OF INSURANCE AND THE INDUSTRY HAS PROVEN TO PROVIDE JOBS AND PROVIDE NECESSARY CAPITAL SECURITY. INSURANCE IS NECESSARY BUT DOESN'T HAVE TO BE EVIL. WE DON'T AIM TO CUT THE INSURANCE INDUSTRY OUT. I KNOW SOME PEOPLE MAY NOT WANT TO HEAR THAT. THE REALITY IS THAT INSURANCE CARRIERS CAN USE A SYSTEM LIKE NIMBLE TO INCREASE THEIR INVESTMENT INCOME AND TO PROVIDE A MORE EFFICIENT SYSTEM FOR THEIR INSUREDS. AND GUESS WHAT? THEY CAN DO THAT WITHOUT TAKING ADVANTAGE OF THE PROFESSIONAL AND PEOPLE THAT ARE PART OF THEIR INSURANCE SYSTEM. THAT'S RIGHT.

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NO ONE IS TAKING ANYONE'S LUNCH. INSTEAD, WE ARE ALL SITTING AT ONE BIG LUNCH TABLE ENJOYING A FAMILY STYLE MEAL. THAT'S WHAT NIMBLE IS.