"How distriBind is Fixing Insurance's Foundational Data Problem"

In this week’s episode, I caught up with Dave Connors, CEO and Founder of distriBind, who's on a mission to transform how the insurance industry handles data. Dave shared the story of how distriBind is eliminating spreadsheet chaos in delegated authority processes—a problem even the largest insurers struggle with. The AI Reality Check: One of the most refreshing parts of our conversation? Dave's perspective on AI. While everyone's rushing to apply AI to every problem, Dave explained why data ingestion and transformation doesn't need AI—traditional methods can be more efficient and cost-effective. Where AI does add value is in the analytics layer: but you need to solve the foundational data problem first. Other Key Insights:Why enforcing a single data standard across the industry misses the point—distriBind's approach transforms and enriches data to meet each receiver's needsTheir dual product strategy: distriBind as the digital workbench for post-bind data exchange and processing, and their newer product Sunapto, focused on the due diligence and onboarding phaseThe importance of having patience and developing long-term client relationships—building trust from the early days when clients believed in their vision to now processing over $1 billion in premium annuallyHow they've grown ARR by 50-60% this year through expansion with existing clients - like Allianz where they started small and are now expanding into US operationsTheir expansion strategy into the US market and the global delegated authority spaceWhy having deep industry expertise is crucial to solving this problem—it's not just a tech challenge, it's an insurance industry challenge Dave's journey from 2019 to today offers valuable lessons on building in a complex space, choosing the right technology for the job, and why sometimes the best innovation is making the fundamentals work properly before adding bells and whistles. If you're interested in insurance innovation, practical vs. hyped technology, or building sustainable client relationships in complex markets, this episode is for you. Hosted on Acast. See acast.com/privacy for more information.