My guest this week is Joe Petrelli, the founder and CEO of Demotech, a rating agency based in Columbus, Ohio. This interview was a particular delight for me, folks, because I've finally found a real example of classic Clay Christensen Disruption in Insurance. Demotech has been quietly disrupting what he calls "the legacy rating agencies" for decades.
THIS is what real disruption looks like:
- Underserved, low end market? Check.
- Looks like a 'toy' product that no serious player should consider? Check.
- Slowly creeping upmarket against all odds? Yep.
That's disruption kids. And he did it at least two more times with Florida Homeowners and Title insurers. Astonishing. Joe should be an insurance innovation celebrity.
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