CSAA CEO Tom Troy talks tech, culture, DEI, ESG

I think insurtechs have really helped to accelerate the industry’s thinking. A lot of the insurtechs have been focused on distribution, not all but many, and making that distribution process more efficient for agents. Making it more efficient for customers to get quotes rapidly and understand what their options are. I think the industry needed that kind of pressure.

Now, you’ve got a lot of your mainstream carriers, including CSAA, working to create that same kind of speed and flexibility to interact with a number of these insurtechs. We’re doing business with quite a few of them, actually, the quoting platforms in particular.

Other insurtechs have been focused on smart underwriting and I think, again, bringing innovation to the industry in my mind can only help the industry continue to modernize and push the industry in different ways. So, the insurtechs, I think, have a place. We are and have been, and we will continue to be excited to work with many of them.

We’re hoping for their success. In some cases, I think insurtechs are being purchased by insurance companies – while we haven’t done that, you know, we’ll continue to keep an eye out for opportunities and should the right opportunity arise, we might consider it.