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Insurance Journal: “Insurance Is ›Original Big Data Industry‹”

Former independent agent Peter MacDonald is founder and CEO of Wunderite, an insuretech enabling commercial lines underwriting. Insurance has always been “the original big data industry,” Peter says on this podcast. The key for the industry to evolve its systems, because, “Who wants to work in an industry where all systems are built on technology, forms and terms that are really old?” Further, Peter adds: “I don’t think agents and brokers will go away. The ones who will be here will be the ones who embrace new technology. A lot is possible if you put your mind to it. Independent agents have an advantage – they really understand the space. It’s complex and onerous. It’s an enormous industry. You have to be a niche expert.”

WUNDERITE (WUNDER•ITE)

Portmanteau of the German “wunder” (miracle), and “underwrite”, the act of supporting a voyage by physically signing your name under a ship ‘s manifest