As the insurance industry has begun to embrace technology to better serve customers and attract new ones, there’s still somewhat of a disconnect between companies and the people they serve. Many people still think of buying an insurance policy as a confusing and overwhelming experience; in fact, our research has shown that 68% of consumers have purchased policies not fully understanding what coverage they are getting. However, there are some people out there looking to bridge that gap, including the car insurance company LOOP.
In a recent episode of our podcast, UNBIND with Bindable, Carey Anne Nadeau, the visionary Co-founder and Co-CEO of LOOP, was gracious enough to share her founder story and passion for data and mission-driven insurance innovation with us.
Carey Anne made it clear that she and her team at LOOP are driven by the core goal of insurance: being there for people at some of their most unfortunate moments. The team is fueled by a desire to create more equitable and innovative products by measuring the things that matter. Using AI-powered business practices, they are focused on using data to improve risk exposure and promoting more fair pricing.
Carey Anne said she lives by the philosophy, “I don’t know what I’ll do until I get there.” Since InsurTech is a relatively new concept, there is no real roadmap for comparison, so ultimately you have to follow your own intuition and do what’s best for those around you.
Watch the full podcast here to learn more about LOOP’s mission and how Carey Anne and her team are working to make insurance more accessible to all.