In today’s episode of Agents Influence podcast, host Jason Cass interviews Frank Sentner, insurance industry expert, as well as Sole Proprietor at Sentwood Consulting, which is focused on improving the business process integration between insurers and independent insurance agencies and brokerage firms. Frank Sentner discusses IOT devices for risk mitigation, what he has learned from the history of insurance, the importance of protecting against cybersecurity, and the future of technology and data in insurance.
- Frank Sentner talks about the blockchain webinar he recently participated in.
- Is Frank Sentner an iPhone or Android user?
- Does Frank love to win or hate to lose?
- What has played a bigger role in Frank’s career, skill or luck?
- Frank Sentner provides his educational and career timeline.
- What areas of the history of insurance has Frank studied closely?
- In what ways can data and technology benefit the insurance industry?
- Frank talks about the urgency of cybersecurity.
- Why isn’t the value of insurance communicated better to customers?
- Frank talks about AMS systems and the work being done by Neon.
- The data of an agency will be worth more than the agency’s revenue in the near future.
- Why isn’t technology being taken more seriously with implementation in the insurance industry?
- Often when it comes to innovation, the investment conversations are happening with the wrong people.
- Jason talks about the Facebook Group Automated Insurance Agency.
3 Key Points:
- The two categories of IOT devices for risk mitigation are passive devices and active devices.
- Frank believes the industry needs to do a better job communicating the value of insurance to customers and the general public.
- If human beings can envision something, they can create it.
- (The Internet of Things) “That is inevitably going to push us back in the direction of the risk mitigation.” – Frank Sentner
- “There is a tremendous opportunity here for us to shift the balance away from a purely financial instrument that has very little potential loyalty built into it, to something where there is more personal hands-on contact.” – Frank Sentner
- “Cybersecurity is absolutely essential as a precursor to any active IOT measures being recommended for the home or the business. Because there are people out there who will hack into systems for the pure joy.” – Frank Sentner
- Agency Intelligence
- Reach out to Jason Cass
- The Insurance Email: Frank@Sentwood.com
- Frank Sentner’s Cell Phone: (860) 794-7806
- Book: A Conspiracy of Paper by David Liss