Fintech Impact

Jason talks to James Tait, CEO of Underwrite Me. It is a platform that allows insurance advisors to quote and handle the entire application that underwriting cycle through one unified platform and does so in 11 countries around the world. James explains how the platform allows each insurer to configure their rules and consistently with their philosophy without asking different questions or without having to agree to exactly the same philosophy. Episode Highlights06.02: At Underwrite Me, someone puts their details in the portal and says these are their general health concerns. First the underwriting of their health condition as an individual happens and then the persona gets recommendations on pricing on insurance companies.07.51: As per James it was a painful process over the years to convince everybody to come on board. It wasn't easy by any stretch of the imagination, but the fundamental for them was that they were trying to improve the market. 08.58: James explains how they partnered with a couple of very large financial advice firms, and distributors in the UK that provided some of the attractive business volumes. 10.01: As per James there is a lot that they provide to the insurers even outside the marketplace that they are providing to do that. 14.50: James explains how the flexibility within the platform made it much easier to get everybody to agree on a common approach.19.14: James shares how they are focused on three regions at the moment, UK and Ireland, Asia Pacific and North America.25.01: Every industry at the moment, whether it's personalized medicine or personalized advertising, personalization is definitely the future of life insurance, says James.26.10: One change that James would like to make in the industry is ease of access to electronic health data.3 Key PointsJason and James talk about the early days of Underwrite Me, and how James convinced or how he got the insurance companies even come to the table on this?James explains how they are trying to improve both sales and customer experience.James shares his journey and how 22% of the financially advised UK life insurance is written through the Underwrite Me platform.Tweetable Quotes"By launching Underwrite Me, we were putting something in place that I think everybody would agree would make financial advisors' lives much, much easier and in a market, that's probably struggled to grow over the years." - James "Imagine if you had an extra month to make revenue with no additional investment like that is just profound in terms of size." - Jason"Underwriting is a field that is changing really rapidly at the moment and it's really interesting the differences around the world in the focus of that development. So, a big topic at the moment is how we incorporate predictive models, artificial intelligence, machine learning within the underwriting process." - James Resources MentionedFacebook – Jason Pereira's FacebookLinkedIn – Jason Pereira's LinkedInWoodgate.com – Sponsorhttps://www.underwriteme.co.uk/our-people/

Jason talks to Nicholas Bernardo, Founder & CEO of OnBord; a simple, secure tool with automated compliance features that will save you time and money while onboarding new clients. OnBord is built to streamline the new client experience for not only the advisors but also their clients.Episode Highlights03.02: Nick talks about his profile and what prompted him to launch OnBord. He also talks about how simple the tool is and the feedback that he has received from few of his clients. 05.32: Jason and Nick talk about the inconvenience caused during manual data filing or data gathering process. 06.17: Nick explains how they have created the ability to do a bulk transfer. Now they are working to eliminate that custodial spreadsheet so that if you are an advisor looking to leave a wire house or leave a broker-dealer that's protocol or non-protocol you have all kinds of limitations around what you can take. 7.18: Nick talks about their data gathering process and how they don't actually hold any of the client data.  09.32: Nick explains OnBord's entire work process flow and how it is all automated.11.04: Nick explains once the client completes the flow, they also receive an e-mail from the firm, welcoming them again, stating kind functions of the CSA and then also putting out the e-mail as disclosure documents that way that is one step that the CSA team has to do. 13.10: Nick explains how they are currently working on the KYC module right now so that they can update that and push it right back to the advisor's CRM. 18.20: Nick explains how OnBord shows real time status of clients filling in their information and how it helps to save a lot of time and efforts. 23.05: Features and functions we have an unbelievably long list of features and functions that. We want to put out there, but right now it's about solving the core problem right and showing the most value to the same, says Nick. 31.00: OnBord is a core technology for almost every RA in the in the country and maybe even in the world.3 Key PointsNick talks about how well OnBord uses automation to create great user experience. He says that they are not asking them complicated questions, they are asking the minimum amount of information that the custodian wants in order to open their account.Nick explains how they leverage text as a means of engagement of the consumers.Any business that gets new clients and needs information to get from the client to their database and potentially you know signed off on a form, that's our opportunity, says Nick.Tweetable Quotes"We are looking to make use technologies to flatten this whole experience out and that way the advisor and CSA, all they have to do is manage the process." - Nick "If you are a broker dealer and you need to update KYC on an annual basis, we'll be able to administrate the entire process for you." – Nick"Getting people's attention via text message and a reminder say hey by the way we need to get this done it. We're finding that you know response times are faster." - NickResources MentionedFacebook – Jason Pereira's FacebookLinkedIn – Jason Pereira's LinkedInWoodgate.com – Sponsor

Jason talks to Justin Adler, co-founder of NorthOne. It is an online Business Account with built-in features to make business banking fast and easy. Justin helps people with this entire profit for a system, they put people in envelopes or supplements, but nevertheless it's basically splitting up by dollars or percentages and making sure that when the taxman comes calling the money sitting there when payroll comes, it's done which is fantastic.Episode Highlights0.54: When launching NorthOne Justin Adler's goal was to transform what would be a really burdensome experience of traditional banking into one that's simple, fast and efficient. NorthOne is like Uber for banking and financial management.04.19: When setting up his business Justin visited several places and did in-depth research. He realized that the problems we seen growing up were so widespread and so commonplace and they really resulted from the fact that small business owners are generally really good at what they do. They are great at your craft, but they are so ill prepared and ill set up for the financial management side.06.16: By launching NorthOne, Justin aimed to remove the opportunity cost of doing day-to-day banking from the business owner so that we could turn the really burdensome banking experience for small business owners. 07.50: Justin co-designed a feature called the Northland profit first envelope system. This allows the small business center to literally, with one click on drag and drop, an automatic budgeting system so that whenever they deposit money, the correct amount is sequestered for things like rent, payroll, taxes. 11.02: As per Justin, one of the biggest threats to the economy today is the failure rate of small businesses.13.13: One of the big features that Justin and his team worked on this year has been really about defining more convenient ways for folks to get paid and make payments. 16.09: Justin says that they focused on integrations that really allowed the bank account to do what it does best.3 Key PointsJustin shares how he has built a system to basically implement the entire cash flow model.Many small business owners use cash basis accounting to make decisions for what they can, what they can afford, what they can buy. A lot of what Justin has also focused on this year has been building integrations so that the business center can get a wider circumference and expand on the view of what's going on in their business through the Northwest Bank account.Justin shares how he sees the future of the product and the best way to serve the customer. NorthOne is a platform that really kind of connects that small business center to a variety of different proxy tools and services that they need. Tweetable Quotes"NorthOne is a digital challenger bank specifically made for the needs of small business owners across the country." – Justin"We worked with our team to really figure out how to take that functionality ACH and take it as fast as possible." – Justin"We have always stood behind the idea that if you make a product service, it's good customers should be happy to pay a fair price for it." - JustinResources MentionedFacebook – Jason Pereira's FacebookLinkedIn – Jason Pereira's LinkedInWoodgate.com – Sponsor