The Billion-Dollar Micro-Insurance Opportunity (w/ Dr. Kyshun Webster, CEO Compassion Society Benefits)

Meet Dr. Kyshun Webster, CEO of Compassion Society Benefits, who is bringing a new diversity of ideas & perspectives to change insurance. His MGA focuses on creating new insurance models around the growing demands of 21st century families. 

Dr. Webster is driven by his upbringing as a New Orleans native who grew up in single-parent home, where he learned at a young age the need to address the wage loss for family care-givers. In his own words, "We bring together digital natives, industry veterans and social entrepreneurs that all converge to bring a real heart to insurance."

Real examples of the societal changes taking place right now:

🏃🏾‍♂️ 70% of workers who leave jobs cite care-giving and being caught between daily obligations and their job,

👜 During Covid for the first time the federal government required companies to pay people to take time off to care for others,

👩‍👦‍👦Also during Covid, when given the choice between working a low-wage job or opting for unemployment, many caregivers chose to stay on unemployment.

What's Insurance got to do with it? As industry veterans retire and a new generation of more diverse people take the helm, new business models will be created based on a new set of beliefs.  Historically, insurance has excluded smaller, lower-income markets. There is an opportunity for a financial inclusivity for those who have been left behind but have a clear willingness to protect their assets and loved ones. 

💰 If we can apply the processes of legacy insurance to this new opportunity, we could create a new multi-billion industry.

Insurtech Leadership Podcast is hosted by Joshua R. Hollander with Season 1 focused on #resilience and #humanresources be sure to 👆🏽SignUp! as we continue featuring weekly episodes with CEOs and Insurance executives you need to get to know to succeed in the coming decade of Insurtech 2020-2030.