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Embodying AI and listening to the carriers - with Tom Vykruta, Co-Founder & CEO, EvolutionIQ

Embodying AI and listening to the carriers - with Tom Vykruta, Co-Founder & CEO, EvolutionIQ

FromThe Insurance Coffee House


Embodying AI and listening to the carriers - with Tom Vykruta, Co-Founder & CEO, EvolutionIQ

FromThe Insurance Coffee House

ratings:
Length:
25 minutes
Released:
Oct 25, 2022
Format:
Podcast episode

Description

“We want to improve the profitability of carriers, but also help employers by keeping as many of their employees healthy and happy and working as long as possible”, says Tom. Tom shares his journey from childhood obsession with computers to 10 years on machine learning and AI projects at Google, before co-founding EvolutionIQ in 2019. Based in NYC with a current full-time team of 55, the bodily injury claims insurtech is offering transformative reductions in combined ratios for carriers as well as significant reductions in the number of people moving from short-term to long–term disabilities.     As the business moves forward to international expansion, Tom highlights the challenges of hiring and the length of the sales cycle as a result of carriers being new to AI. “Hiring for AI and data, we have a very high bar. We hire one out of 10,000 applicants. That's been tough.” Tom explains how EvolutionIQ is maintaining its cultural values as it expands in to overseas markets with similar regulatory environments. He concludes by sharing his advice to fellow insurtech founders. “Find something you’re truly passionate about. It needs to be something you're willing to spend seven days a week on for the first couple of years. And listen very, very carefully to the carriers. Every carrier has a different way of doing things.”Connect with Tom on LinkedIn, email tom@evolutioniq.com or find out more about EvolutionIQThe Insurance Coffee House Podcast is hosted by Nick Hoadley, CEO, Insurance Search, the Executive Search Consultancy for growing Insurance and Insurtech businesses across the globe.To discuss identifying & attracting the very best talent to your team or being a podcast guest, reach out to Nick via nick.hoadley@insurance-search.com or connect on LinkedInCopyright Insurance Search 2022 – All Rights Reserved.    
Released:
Oct 25, 2022
Format:
Podcast episode

Titles in the series (100)

The weekly Insurance Coffee House Podcast series is the place where you’ll be inspired by some of the most successful insurance business leaders on the planet. With each guest asked the same set of ten questions you’ll understand the recurring patterns and traits that make them successful. Covering morning routines, favourite success quotes and how they overcame their largest setbacks, they’ll give a personal insight in to what it takes to be a successful insurance business leader. This podcast will suit senior executives from inside the insurance industry and ambitious insurance business leaders of the future, giving you practical management tips and advice to help you achieve your career ambitions. The show is hosted by Nick Hoadley, CEO of leading international insurance executive search firm, Insurance Search. If you would like to contact Nick about the podcast or to discuss any executive search assignments, please email info@insurance-search.co.uk or call (+44) 203 9488 501