The Insurtech Leadership Podcast

Breaking Barriers: Making Insurance Accessible in a Climate-Challenged World with Nakita Delvin

In this episode of the Insurtech Leadership Podcast, host Josh Hollander welcomes Nakita Devlin, CEO and Co-founder of Ric, who shares how her company is democratizing parametric insurance products for everyday Americans. Unlike traditional catastrophe coverage, Ric's approach focuses on immediate, predefined payouts triggered by meteorological events rather than complex damage assessments.

 

Devlin, drawing from her background as an insurance broker specializing in catastrophe coverage, explains how Ric is transforming parametric insurance from an enterprise-focused product into an accessible consumer offering. Their flagship flood product, launching in 2025, offers a $10,000 payout for $14 monthly, using only meteorological data for triggering events – a significant departure from traditional flood insurance's complex underwriting requirements.

 

Key Insights:

•  Reimagining Distribution: Rather than traditional insurance channels, Ric is partnering with employers to offer parametric coverage during benefits enrollment, positioning it alongside standard offerings like dental insurance
• Simplified Underwriting: Breaking from traditional catastrophe policies, Ric uses only meteorological data instead of extensive property information, making coverage more accessible and equitable
• Rapid Response Focus: Products designed for immediate payouts to cover both property damage and financial disruption, addressing gaps in traditional coverage that can take months to pay claims
• Workforce Resilience: Targeting employers whose workforces face climate risks, positioning parametric coverage as a business continuity tool
• Market Evolution: Using micro-parametric products to help insurers re-enter challenging markets with controlled exposure through capped payouts

 

Notable Quotes:

"Insurance has a really big role to play in creating adaptability and resilience against climate change - not just for Fortune 500 companies, but for your average American." - [20:08] Nakita Devlin

 

"We think that for most Americans, even if you're making $100k a year, you're still living paycheck to paycheck... [they] shouldn't be penalized because they didn't know their home isn't properly protected for flood that's happening in 2025." - [38:57] Nakita Devlin

 

Key Topics Covered:

[09:16] Journey from catastrophe broker to insurtech founder

[15:10] Innovative distribution through employee benefits

[24:27] Structuring capacity as an MGA

[31:08] Product pivot based on market feedback

[38:22] Strategic focus on meteorological data

[41:03] Future of public-private climate partnerships

 

About Our Guest:

Nakita Devlin is the CEO and Co-founder of Ric, bringing deep expertise from her background as a catastrophe insurance broker. Her experience managing large-scale disaster coverage programs inspired Ric's mission to make parametric insurance accessible to everyday Americans. Under her leadership, Ric is pioneering new distribution channels and simplified underwriting approaches to address climate resilience gaps.

Resources:

Nakita Delvin

• https://www.helloric.com/
• https://www.linkedin.com/in/nakita-devlin-38155916

 

Josh Hollander

• https://www.linkedin.com/in/joshuarhollander/
• https://www.horton-usa.com/
• https://www.linkedin.com/showcase/insurtech-leadership-show/?viewAsMember=true
• https://www.insurtechassociation.org/
• https://innsure.org/ 

ITC Special 5B - Leadership in Action: Insights from Industry Leaders with Ben Jennings

How do today’s leaders navigate the fast-paced evolution of the insurtech space? What does it take to leverage cutting-edge technology while building sustainable and impactful businesses? From balancing innovation with operational rigor to fostering collaboration across diverse teams, leadership in insurtech requires vision, adaptability, and a relentless focus on solving customer challenges.

This episode features Ben Jennings, CEO of Embroker, discussing his leadership journey and how Embroker is leading the Insurtech 2.0 movement. Ben explores the critical balance between technological innovation and insurance expertise to deliver exceptional customer value. He also shares insights into leadership transitions, building team alignment, and creating a culture of humility and collaboration.

Key Insights:
- How Embroker leads the Insurtech 2.0 movement.
- Practical applications of AI for a seamless customer buying experience.
- The importance of radical prioritization and focus in leadership.
- Balancing profitable growth with innovation.

Featured Conversations:
- [00:00:39] Observations on the tech-forward vibe at ITC 2024.
- [00:01:33] Leading the Insurtech 2.0 movement.
- [00:03:46] Using AI to transform customer experiences.
- [00:08:01] Transitioning from Chief Revenue Officer to CEO.
- [00:14:08] Advice for aspiring leaders on humility and continuous learning.

Notable Quote:
"Success in Insurtech 2.0 comes from balancing advanced technology with insurance expertise to deliver exceptional customer value." – Ben Jennings

Resources:
- Embroker: [embroker.com](https://embroker.com)
- LinkedIn: [Ben Jennings](https://www.linkedin.com/in/benjennings)

Tune in for Ben’s insights on how to thrive in today’s rapidly evolving insurtech landscape. Don’t forget to subscribe for future episodes.

ITC Special 5A - Leadership in Action: Insights from Industry Leaders with Xing Xin

What does it take to lead and innovate in the rapidly evolving insurtech space? How can companies leverage cutting-edge technology to address customer challenges while building sustainable and impactful businesses?

This episode features Xing Xin, CEO and Co-Founder of Upfort, sharing how his company is redefining cyber resilience through the integration of advanced cybersecurity and insurance solutions. Xing discusses how Upfort reduces risk for small and mid-sized businesses by leveraging AI, fostering collaboration between tech and insurance professionals, and expanding into personal cyber solutions.

Key Insights:
- Upfort’s mission to enhance cyber resilience.
- Using AI to reduce claim frequency by up to 75%.
- Building a balanced team culture combining tech and insurance expertise.
- Managing dual distribution strategies for enterprises and SMBs.

Featured Conversations:
- [00:02:12] Reflections on ITC and the evolution of the insurtech community.
- [00:05:56] Upfort’s innovative approach to cyber resilience.
- [00:24:40] Expanding into personal cyber solutions.

Notable Quote:
“Too many people start from the technology instead of the business problem. Our focus is always on solving real-world challenges through innovation.” – Xing Xin

Resources:
- Upfort: [upfort.com](https://upfort.com)
- LinkedIn: [Xing Xin](https://www.linkedin.com/in/xingxin)

Discover how Xing is leading the way in cyber resilience. Don’t forget to subscribe for future episodes.

ITC Special 4B - Reinventing Life Insurance: Technology and Transformation with Angus Dunn, Nick Bowman & Xuejun Tao

Life insurance is being transformed through technology, streamlining processes and empowering agents and clients alike. This episode features Angus Dunn, Nick Bowman, and Xuejun Tao of Xcela, sharing how they are enhancing life insurance through AI.

The conversation delves into overcoming legacy challenges, building trust through data security, and reshaping the role of agents to deliver value to clients efficiently.

Key Insights:
- Xcela’s mission to enhance life insurance sales and distribution.
- Using AI to transform life insurance processes.
- Strategies for market adaptation and building client trust.
- Overcoming legacy issues in the insurance sector.

Featured Conversations:
- [00:02:39] Overview of Xcela's mission and collaborative development.
- [00:09:09] The agent's perspective on technology adoption.
- [00:20:30] Navigating long sales cycles in insurance.

Notable Quotes:

"Now everything is possible, and how we actually make things happen is by taking a new approach to apply AI, especially to help the specific industry." – Xuejun Tao  

"I really don’t like to build products before selling them. If you can sell it, you can build it." – Angus Dunn  

 

Resources:

• Xcela: https://life.xcela.ai/
• LinkedIn: Angus Dunn (https://www.linkedin.com/in/angus-dunn-2827b2)
• LinkedIn: Nick Bowman (https://www.linkedin.com/in/nicholas-bowman-cfp%C2%AE-ms-cep%C2%AE-9bb31743)
• LinkedIn: Xuejun Tao (https://www.linkedin.com/in/xuejun-tao-0998594)

 

Tune in to hear how Xcela is revolutionizing the life insurance industry. Don’t forget to subscribe for future episodes.

ITC Special 4A - Reinventing Life Insurance: Technology and Transformation with Hilliard Milner

How can technology simplify life insurance sales and empower agents to deliver exceptional service? This episode features Hilliard Milner, Co-Founder of Optifino, discussing how AI and holistic solutions are modernizing the life insurance industry.

Hilliard explores overcoming legacy challenges, fostering growth, and the importance of providing agents with the right tools to succeed.

Key Insights:

• Optifino’s vision to streamline life insurance with AI.
• Empowering agents through user-friendly platforms.
• Addressing legacy challenges and creating holistic solutions.

Featured Conversations:

• [00:00:39] Optifino’s platform overview.
• [00:05:05] Challenges with lead generation and engaging carriers.
• [00:23:22] Future vision for the company.

Notable Quote: “My co-founder has extensive experience in life insurance, and we specialize in complicated cases because we have the subject matter experts and our technology adds massive value.” – Hilliard Milner

Resources:

• Optifino: com
• LinkedIn: Hilliard Milner

Learn how Optifino is shaping the future of life insurance. Don’t forget to subscribe for future episodes.

ITC Special Part 3C - Tradition Meets Innovation: Collaboration in Insurance with Steve Johnson

How do traditional players in insurance leverage technology to modernize while maintaining their heritage? This episode features Steve Johnson, Founder of Insured.IO, discussing how user experience drives customer retention and supports digital transformation in the insurance industry.

Steve shares insights into building a scalable SaaS platform, overcoming resistance to digital change, and fostering trust through seamless technology.

Key Insights:

• The importance of user experience in customer retention.
• Transitioning from professional services to a scalable SaaS model.
• Overcoming resistance to digital transformation.

Featured Conversations:

• [00:20] The impact of user experience on customer retention.
• [05:00] Transitioning from professional services to a scalable SaaS platform.
• [09:10] Overcoming resistance to digital transformation in established markets.

Notable Quote: "Trust is earned one interaction at a time, and technology helps us get there faster." – Steve Johnson

Resources:

• IO: insured.io
• LinkedIn: Steve Johnson

Tune in to discover how Steve Johnson is modernizing insurance through a user-first approach. Don’t forget to subscribe for future episodes.

ITC Special Part 3B - Tradition Meets Innovation: Collaboration in Insurance with Carlos Cendre

How can established insurers innovate while staying true to their roots? This episode features Carlos Cendre, Scouting and Investment Lead at MAPFRE, discussing how global strategies, partnerships, and emerging trends like embedded and parametric insurance drive modernization.

Carlos highlights MAPFRE’s approach to addressing challenges like climate change and cybersecurity through strategic collaborations.

Key Insights:

• MAPFRE’s global strategy and its significant presence in LATAM markets.
• Building partnerships to address issues like climate change and cybersecurity.
• Leveraging trends like embedded and parametric insurance.

Featured Conversations:

• [00:05] Insights into MAPFRE’s global strategy.
• [06:40] Building strategic partnerships to tackle emerging challenges.
• [09:30] Staying competitive through embedded and parametric insurance.

Notable Quote: "Innovation doesn’t replace tradition; it builds upon it." – Carlos Cendre

Resources:

• MAPFRE: com
• LinkedIn: Carlos Cendre

Learn how MAPFRE blends innovation with tradition to redefine insurance. Don’t forget to subscribe for future episodes.

ITC Special Part 3A - Tradition Meets Innovation: Collaboration in Insurance with Dorothy Kelly

Is collaboration the key to modernizing the insurance industry? This episode features Dorothy Kelly, VP of Innovation at Verisk, sharing how her team fosters a culture of innovation through employee-driven ideas and customer-focused solutions.

Dorothy dives into how Verisk integrates cross-divisional data to create impactful products and the role of data as the currency of the future.

Key Insights:

• Fostering innovation through employee-generated ideas.
• Aligning innovation efforts with customer needs.
• Integrating cross-divisional data for impactful solutions.

Featured Conversations:

• [00:15] Verisk’s approach to fostering innovation.
• [03:30] Aligning innovation with real-world challenges.
• [07:00] Leveraging data to create impactful solutions.

Notable Quote: "Data is the currency of the future, and we’re here to help companies spend it wisely." – Dorothy Kelly

Resources:

• Verisk: com
• LinkedIn: Dorothy Kelly

Explore how Verisk is leading the charge in data-driven innovation. Don’t forget to subscribe for future episodes.

ITC Special Part 2C - Driving Insurance Innovation Through AI and Analytics with Leandro DalleMulle

How is AI transforming the insurance industry? In this episode, Leandro DalleMule, Global Head of Insurance at Planck, shares insights into moving beyond buzzwords to implement AI solutions that solve specific business problems.

Leandro discusses how Planck focuses on underwriting pain points and integrates actionable insights to drive meaningful outcomes in insurance operations.

Key Insights:

• The evolution of AI in insurance from experimental to practical applications.
• Transitioning from data management to AI-driven insights.
• Solving underwriting pain points with tailored AI solutions.

Featured Conversations:

• [01:35] Leandro’s background in insurance analytics.
• [07:47] Achieving product-market fit with early AI adopters.
• [09:48] Focusing on carrier-specific challenges with AI.

Notable Quote: "We never really framed it as, you need AI. We always try to frame it in terms of your pain points from an insurance, very specific carrier point of view." – Leandro DalleMule

Resources:

• Planck: com
• LinkedIn: Leandro DalleMule

Learn how AI is driving practical innovation in underwriting. Don’t forget to subscribe for future episodes.

ITC Special Part 2B - Driving Insurance Innovation Through AI and Analytics With Dennis Ellis

How can insurers deliver frictionless experiences using technology? This episode features Dennis Ellis, General Manager of Insurance at Credit Karma, discussing how his team integrates credit and behavioral data to simplify insurance processes.

Dennis explores Credit Karma’s focus on creating seamless user experiences and overcoming integration challenges in the insurance industry.

Key Insights:

• Creating frictionless insurance experiences through technology.
• Leveraging credit and behavioral data to connect insurance opportunities.
• Building awareness for insurance offerings post-acquisition.

Featured Conversations:

• [01:50] Transitioning from Zendrive to Credit Karma.
• [09:22] Making insurance experiences frictionless.
• [23:01] Connecting credit data with insurance opportunities.

Notable Quote: "What we focus on in all of our products, but in insurance especially, is how do we create a marketplace that allows people to have kind of frictionless certainty?" – Dennis Ellis

Resources:

• Credit Karma: com/insurance
• LinkedIn: Dennis Ellis

Discover how Credit Karma is revolutionizing insurance experiences. Don’t forget to subscribe for future episodes.