SAN JOSÈ, CA — While “tech” is certainly a major part of the emerging insurtech industry, no company in the space can successfully compete without having in-depth knowledge of — and connection to — the key players and the regulations that govern the industry. That is why Sureify, a San Jose, CA-based insuretech innovator, is pleased to announce that former Iowa Insurance Commissioner and successful life insurance executive Nick Gerhart has joined the company’s Board of Directors.
Gerhart, a well-known leader in the industry, brings valuable experience in corporate strategy, regulation, law and compliance, government affairs and innovation to his new role. As an executive for Homesteaders Life Company and Farm Bureau Financial Services, Gerhart focused on legal considerations, innovation and modernization, and oversight of several other departments. Additionally, he served as Iowa’s Insurance Commissioner, heading up one of the largest domestic insurance states in the nation. His deep understanding of critical administrative areas of insurers, along with his passion for innovation, makes him a priceless asset to Sureify, says CEO Dustin Yoder.
“Sureify is truly honored to have a living legend like Nick Gerhart join the team. He is one of the most respected, innovative, and down to earth executives that I have had the privilege of working with,” Yoder said. “He publicly calls out the good and bad he sees in the market, understands the industry across business lines, and has a great industry executive to introduce us to at every turn. We are lucky to have a friend, advisor, and now board member like Nick.”
Gerhart has already spent several years providing strategic guidance to Sureify, and Yoder says Nick has been the most influential mentor he has had in the insurance sector. In his new role as Board member, he looks forward to leveraging the camaraderie he has with the company and its founder to push the limits on product growth and strategic initiatives. “I always try to bet on the founder, and Dustin is relentless. He doesn’t give up, he doesn’t take ‘no’ for an answer, and he has surrounded himself with a great team,” he noted. “My real goal will be to help Sureify succeed and continue to mature as the industry platform leader in Life insurance. As a result of the COVID pandemic, everybody is realizing that things like instant issue, digital servicing, and engagement – the products that Sureify is already integrating into insurers’ businesses – are all necessary now. And if insurers don’t have it, they won’t be in business in the future.”
In addition to Gerhart’s work as an insurance executive and commissioner, and his extensive legal experience in the industry, he has been a mentor and advisor to numerous insurers and insurtech startup ventures, including Carpe Data, Gain Compliance, and the Global Insurance Accelerator (GIA). He also donates his time to numerous charitable organizations including Variety – the Children’s Charity of Iowa, ChildServe and Balance Autism.
Sureify’s mission is to modernize the life insurance and annuity industry by helping carriers acquire, service, and engage their customers with one enterprise platform: Lifetime. We enable omnichannel sales with LifetimeAcquire, a product that drives placement rates via quoting, e-application, automated underwriting, and new business transmission. With LifetimeService, insurers are offering their in-force customers comprehensive self-service portals and native applications. Lastly, the product that started it all, LifetimeEngage, fosters a lifelong relationship between carriers and their policyholders with multifaceted engagement programs and analytics, leading to greater lifetime value of each policyholder.