Why Financial Services Provided by Banks to Insurers and Agencies is Broken (w/Sven Gerlach, CTO Turris)

Sven Gerlach is CTO and co-founder at Turris, an API-first banking platform made for the insurance industry, whose co-founder and CEO Doug ver Mulm was the former CEO of Stable insurance. 

Turris is creating a user interface to help tech-enabled agencies automate all of their banking processes, addressing the painful process of account opening at a bank. Examples of basic banking processes that insurance agencies rely on can be explaining reversals or using popular payment solutions like Stripe.

For operating businesses, cash reconciliation and funds administration can cost 10-20% of a small agency's time of manual, error-prone process.  Small agencies therefore tend to have to rely on the carrier statements and reconciliation process to be correct.  

Sven previously worked in senior technology roles in investment banking and private equity for over a decade.

This episode was recorded at Insurtech Insights (https://www.insurtechinsights.com) New York 2023, the world's largest insurtech community with nearly 100,000 followers in LinkedIn. If you haven't already we recommend to follow https://www.linkedin.com/company/insurtech-insights/.

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