Author: Jon Sabes

S&P panelists: Insurance industry is ‘ripe for disruption’

Huge amounts of capital are flowing into insurance-focused technology companies. The dollars invested are matched by the stakes: opportunities to reap gains — in cost savings, productivity increases and industry-disrupting changes to business processes — that could displace established incumbents. This was the common theme during a panel discussion held at the 7th annual Insurance M&A Symposium held recently in New York City. Produced by the Knowledge Center and SNL Financial, divisions of S&P Global Market Intelligence, the session brought together four experts from the insurtech/fintech and M&A worlds. Most agreed that the pace of activity is quickening. “We’re looking at about 1,000 companies per year, and perhaps 20 to 45 percent are now insurance-related,” said Drew Aldrich, a senior associate at AXA Strategic Ventures. That’s up from 5 to 10 percent in recent years. There’s a tremendous resurgence in venture capital deal flow across primary lines of insurance — commercial, property and casualty, life and health.” Just how much is the industry investing in insurtech companies? Mark Purowitz, a principal for financial services strategy, M&A and digital, at Deloitte Consulting LLP, says the 500-plus companies tracked by the company have invested close to $6 billion in the field over the last three years. Among them are major life insurers including Allstate, American Family, AXA, MassMutual, Nationwide, Transamerica and USAA. These, plus established venture capital firms, collectively have boosted venture...

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LexisNexis shifts life insurance underwriting into high gear

Company is betting that data analytics will prove transformative to the market Compliance isn’t the only pet peeve of agents and advisors. Another is underwriting. The rating of a life insurance policy, which can make a purchase untenable for the client, is one source of annoyance. Potentially more aggravating is the wait time — the worst cases extend to weeks or months — in procuring physician statements or other health data needed to bind a policy application. Such delays may soon be a thing of the past. A myriad of “insurtech” and “fintech” players are joining a burgeoning market for solutions that automate underwriting. These include software and services that not only assess the policy risk but also provide workflow, audit and data analytics capabilities. A long-established company in this area, Alpharetta, Georgia-based LexisNexis Risk Solutions, is betting that software which speed policy transactions times by dispensing with medical underwriting will prove transformative to the market. The company’s claim to fame, Risk Classifier, aggregates a mountain of information — billions of public records and more than 20,000 data sources — to assess mortality risk for a policy applicant. The kicker: The tool can use this data to approve preferred policies — no blood work of doctor’s record needed. For advisors and their clients, the benefit can be measured not only in fewer hassles and speedier policy binding, but also greater convenience....

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Aging #Aging #Cellular #Molecular #Biology #Diseases #SignalTransductionPathways #p53 #Sirtuins — Aging (@AgingJrnl) October 4, 2016 Tweet Share this:LinkedInFacebookTwitterMorePinterestPrintGoogleLike this:Like...

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Jon Sabes Rock Climbing in Nevada’s Red Rock Canyon

As a business professional, Jon Sabes co-founded GWG Holdings, Inc., a specialty finance company headquartered in Minneapolis. He continues to serve as the company’s chief executive officer. In his leisure time, Jon Sabes enjoys rock climbing, and he visited the Red Rock National Conservation Area near Las Vegas, NV. Red Rock Canyon, the first National Conservation Area in Nevada, offers some of the best rock climbing in the world. The park also affords visitors an incredibly peaceful experience, with its vast rocky crags far from any sign of civilization, and populated with more desert bighorn sheep than people. Despite its isolation,however, Red Rock Canyon is easily accessible from Las Vegas. Rock climbers at Red Rock Canyon can follow numerous traditional and sport routes throughout the park with assistance from the climbing staff. Several guidebooks also lay out details on routes and provide photos and directions to serve newcomers to the park, including details on the various challenges of different routes. Tweet Share this:LinkedInFacebookTwitterMorePinterestPrintGoogleLike this:Like...

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Madison Wisconsin Triathlon 2012

The second time is a charm! Well not necessarily in Ironman events.  Every event is a mental and physical challenge that requires immense focus and determination in order to complete the race.  This was my second Ironman Wisconsin event.  It had been two years since my first race, after I had decided to take a year off between gearing up for a long race.  This summer I had decided to complete only one race, and this was it.  The summer afforded me more opportunity to complete some longer rides and focus on outdoor swimming.  My three favorite rides of...

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Jon Sabes

Jon Sabes

Creativity is only limited by our imagination and willingness to work towards its realization - resident artist in business. I serve as the Chief Executive Officer of Nasdaq: GWGH

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