In this episode, we invited one of Dan’s friends Skip Schrayer, a 3rd generation business owner to talk about insurance, not so much about the product, but more about the industry and its culture. Tim started the conversation by asking about the history of Skip’s family insurance business. Dan was interested in the changes over the year in the industry. Skip thought technology played an important role in changing and evolving insurance companies. Nowadays, anyone can go onto an online platform and get insurance in minutes. So giving customized consulting to a more complex insurance need is his specialty. As for the future of this industry, Skip said that the definition of “risk” will continue to grow. For example, cyber risk, reputation risk, etc. In terms of business operations and management, Skip cannot emphasize enough the importance of hiring the right people that fit your company’s culture: care about your job and clients, learn from your employees, be curious, and learn to say “no.” As Skip said, running a business is not easy, but it should also be fun.
