The Insurer Interview

During a recent interview with James Thaler from The Insurer, our CEO, Sivan Iram, discusses Flow's strategic rebranding and innovative approach to transforming the wholesale experience for retail agents and carriers. Sivan discusses the shift from a self-service tech platform to a more traditional wholesaler model, the integration of advanced technologies like AI to enhance service, and strategies for competing in a highly competitive market. He also highlights the importance of human expertise, our approach to building strong relationships with agencies, and our vision for future growth and innovation in the insurtech space.

Flow is a digital wholesaler connecting agents and carriers in financial lines. Since our founding in 2021, our mission has been to transform the wholesaler experience for agents and underwriters alike. We combine advanced technology with a human touch. Our expert brokers navigate evolving regulatory landscapes and work closely with agents and preferred carrier markets.

Flow believes in transparency and our mission to innovate and elevate the insurance industry.

Here are the highlights from the interview:

Transforming from Capitola to Flow

In 2021, Capitola (now Flow) set out to revolutionize the wholesale experience for retail agents and carriers by creating a self-service placement platform for agents to place business with their direct markets. However, we discovered that many agents prefer not to handle wholesale placements and expertise and market access rather than technology alone. This perception of Capitola as merely a tech platform rather than a comprehensive wholesale partner prompted us to recommend ourselves as the wholesale broker for submissions that matched our carrier partners, emphasizing our extensive market access and industry expertise.

About eight months ago, we shifted to a go-to-market approach. Our vision remains to revolutionize the wholesale experience for agents and carriers. We handle email submissions, provide deep analysis, and offer coverage comparisons. Our unique model combines human expertise with advanced technology, including AI, to enhance service, responsiveness, transparency, and control.

Middle Market Relations

In the middle market and small commercial segments, where commissions are lower, we provide best-in-class service powered by automation and efficiency. Our technology enhances our expertise and ensures all accounts receive exceptional service.

Middle market agencies still rely on wholesale channels for expertise and market access, which is our sweet spot. We also build strong relationships with large agencies by demonstrating the value we bring through superior service and commitment to the relationship.

Strengthening Partnerships & Elevating Service

Since our strategic shift, we have forged relationships with dozens of agencies, hundreds of agents, and have been appointed by 50 carriers. We work with both large traditional carriers and innovative MGAs. We’re not just a tech company; we focus on getting the job done with a human touch. Our advanced technologies elevate our service, and we provide in-depth analysis, quote comparisons, and white-label client materials, reducing the time agents need to spend on manual tasks to shift their focus to offering best-in-class options.

Flow’s Path Forward

Internally, we use the same technology we developed for agents, recognizing that agents prefer email submissions over platform usage. Our AI technology extracts information and matches it with carriers, handling the heavy lifting and allowing us to present the best options without forcing platform use.

We began with professional lines, building expertise, and brand recognition, and plan to expand to more P&C lines. Our long-term vision is to bring existing models into the digital domain, a goal that will take 5-7 years.

While we are not actively raising capital, we remain open to opportunities that could accelerate our growth.

Flow is all about people. We ensure human supervision of AI to maintain accuracy and build feedback loops for continuous improvement. Our AI acts as an intern, constantly learning and being mentored to enhance its capabilities. To better understand Flow’s mission and guiding principles in developing and utilizing AI, we invite everyone to check out our newly released AI credo. 

Stay tuned for more updates on our journey and advancements in integrating AI while maintaining the human element in insurance.

For more insights, watch the full video interview here.