Finding Peak w/ Ryan Hanley - Izik Lavy on How Property Data is Changing Property Insurance

Episode Date: March 30, 2023

Spartan philosophy, built in the black-ops lab of business: https://www.findingpeak.comFinding Peak podcast: https://linktr.ee/ryan_hanleyIn this episode of The Ryan Hanley Show, Ryan Hanley sits down with Izik Lavy.Izik Lavy is the CEO and founder of GeoX Innovations.GeoX experts use machine vision and deep learning technology to automate fast and accurate extraction of 3D objects from aerial imagery and create worldwide property databases. This property data is for Insurance companies to study property features, get current property intelligence, effectively process claims, streamline underwriting, and evaluate risks resulting in significant cost reductions and lost revenue capturing.Don't miss this conversation...Episode Highlights:Izik mentions that the goal of GeoX Innovations is to help insurance carriers offer better insurance and understand risks better, and help carriers predict events and notify their clients to take proactive measures. (3:47)Izik explains that his passion for geospatial and public information led him to create something valuable that protects people's lives and properties through the insurance industry. (7:47)Izik explains that GeoX Innovations uses a variety of data sources to provide the most recent aerial imagery to insurance carriers worldwide, and they prioritize providing good service to everyone, regardless of their location. (14:21)Izik shares that GeoX Innovations works closely with insurance carriers to provide insights and data on risks, and they analyze the raw data from imagery and combine it with claim information to determine correlations and ROI for carriers. (21:27)Izik mentions that their platform is currently used by insurance carriers and now they are working with insurance agencies to help them target their clients and find the best opportunities. (35:08)Izik explains how their technology helps agencies target the specific properties their carriers want to insure, giving them a competitive advantage, which also helps agencies meet their carrier commitments and expand their opportunities beyond their local area. (40:07)Key Quotes:“Our mission is to help the insurance carriers to provide better service to their clients, to reduce the risk and also to provide a new revenue stream, and the way to do it is by providing them insights, with data insights.” - Izik Lavy“I create relationships with insurance carrier. And I think this is like when we try to understand how, as agent, we can create our future more clearly and also create more profit. I think one of the biggest things that we need to do, the action that we need to do is understand our client better.” - Izik Lavy“You can make the entire sales cycle in one phone call. And this is eventually what we tried to work with agencies. And we want for them to be able to focus only on and say, how I close my next call, and not how I call to the next client. I asked him the question, I investigated, receive the information. And after this, calling him back in two weeks, and try to call, closes a deal. So, this is a thing that eventually we are trying to cut.” Izik LavyResources Mentioned:Izik Lavy LinkedInGeoX InnovationsReach out to Ryan HanleyRogue RiskFinding Peak--Recommended Tools for GrowthOpusClip: #1 AI video clipping and editing tool: https://link.ryanhanley.com/opusRiverside: HD Podcast & Video Software | Free Recording & Editing: https://link.ryanhanley.com/riversideWhisperFlow: Never waste time typing on your keyboard again: https://link.ryanhanley.com/whisperflowCaptionsApp: One app for all your social media video creation: https://link.ryanhanley.com/captionsappGoHighLevel: It's time to take your business workflow to the Next Level: https://link.ryanhanley.com/gohighlevelPerspective.co: The #1 funnel builder for lead generation: https://link.ryanhanley.com/perspective--Episodes You Might Enjoy:From $2 Million Loss to World-Class Entrepreneur: https://lnk.to/delkFrom One Man Shop to $200M in Revenue: https://lnk.to/tommymelloIs Psilocybin the Gateway to Self-Mastery? https://lnk.to/80upZ9This show is part of the Unplugged Studios Network — the infrastructure layer for serious creators. 👉 Learn more at https://unpluggedstudios.fm.Advertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

I'm here on the job site with Dale, who's a framing contractor. Hey, good morning. Dale traded up to GEICO commercial auto insurance for all his business vehicles. We're here where he needs us most. Yep, they sure are. We make it easy for him to save on all his insurance needs, all in one place, with coverage that fits his business and bottom line. Oh, I shouldn't have looked down.

It's all right. We're so far up here. Look at me. Take a deep breath. Oh, I'm good. So good. Get a commercial auto insurance quote today at GEICO.com and see how much you could save. Get more with GEICO. Happy holidays. Want to give your host a gift?

Consider subscribing, rating, and reviewing the show this holiday season. It really helps the show grow. From all of us at Believe, have a Merry Christmas, everyone, and a happy holiday. Crude Laboratory in the basement of his home. Hello, everyone, and welcome back to the show. Today we have a tremendous episode with you with Isaac Lee, founder and CEO of GEOX. analytics where we're talking about what is possible when we can eat real-time geo-based data and

analytics into the insurance experience, what is possible on the other side, why you may never have to do an in-person like physical review of a building again, why that day is coming, why we never have to drive by and take pictures or do walk arounds because satellite imagery, video imagery has become so good that it just may not be necessary. It certainly may never be necessary for the quoting process again, but you're going to learn all that during the show. Before we get there, guys, if you love this show,

please leave this a rating review. When I do reach out to speakers or guests outside of the industry, they look at those ratings reviews as a way to justify if it's worth coming on this show. And I think if you listen to this show, you love when I interview people inside the industry, obviously, but sometimes I like reaching people outside the industry, and that helps so much.

So I very much appreciate it. I know you've been longtime listeners to the show and feels weird leading a rating and review on iTunes. It almost feels a little trite, but it does help me. They honestly, they look at it, which is weird, but true. That being said, if you love the podcast, you may also love the blog, Findingpeak.com.

Go to Findingpeep.com. Stick your email in there, and you'll get all kinds of really good articles delivered right to your email. No spam, all articles. And check that out. And then want to give a quick shout to Tivli.com. TivLY.com. T-I-V-L-Y.com.

If you're looking for more commercial insurance leads, and I don't mean leads like data leads emailed to you. I mean, legit warm call transfer leads to the business owners that you want to write, that you get to tweet the dials, your phone rings, and someone from Tivli hands you a lead, you're talking to the business owner on the phone. Guys, we have an incredibly high-hit ratio with Tivoli leads at Rorgisk, and we've been partners with them, you know, paying them every month, as we do today.

For almost, yeah, we're right around the two-year mark. So big fans of Tivoli, super excited. They were willing to be a sponsor of the show. Love that. And I'm happy to share them with you because I love sharing good companies with you guys. So with that, let's get on to an incredible conversation with the CEO and founder of GeoX Analytics, Isaac Levy. I'm going to Shaboons. So, yeah, we can get right into it.

I like to kind of start hot and start fresh and not waste all our flavor in the, in the, before we hit record or whatever. So, you know, I appreciate you coming on the show. I think, you know, I took a look through what you guys were doing. It seems ridiculously interesting. I have a ton of questions. But I like to start kind of at the part that people, find oftentimes the most interesting is like what's your origin story man like where did you guys come from where did you come from and where did the company come from and and you don't have to

do every detail but what you think is pertinent and then we'll dig in yeah i think the our beckwant is coming from the tangent scope we was like searching it was responsible to provide public information from very critical uh decision making so typically like um the need is coming from uh for many industries, not only the insurance carrier, but I think that eventually insurance carrier suffering the most. And this is exactly where we are coming to the story and say, okay, we want to help the insurance carrier to give better insurance and also to understand better the risk and also to notify the owner what is the risks that you have. Because eventually we see that insurance carrier, they are like a channel to the owner. And if you want to reduce,

if you want to help to the owners of the property, the best way is to get through the insurance carrier. And I think this is exactly what we are trying to do it. And this is what we feel their insurance carrier eventually they're paying the bills most of the time. And this is exactly where we say, okay, if you're looking on the numbers, one minute, just to understand the point because we are in the insurance space,

so we need to discuss about the numbers. So in 2000 to 2010, insurance carrier lost only in the United States, only property, $200 billion. And one century after this, in 2010 to 2020, insurance carrier lost already $520 billion. So it's almost like, you know, it's increasing by 260 percent. And it was like a century over a century. And according to all the analysts, we're going to cross the $1 trillion in losses only property on the United States and it's causing us

huge losses just to pay claims and it's not to give any value to anyone and I think this is where we are trying to get to the chain and starting to say no as insurance carrier you can predict the events and you can also help to your client

give them better service notify them so for example if you live in California and you have let's say many trees and many vegetation around your, a huge amount of vegetation around your property. So by insurance carrier say, okay, look, we see that you're not handling well with your vegetation, please cut the bridge, bruscious, for example, make action to protect your property. And eventually, when insurance carrier can give this comment to the

honor of the poverty or for commercial property, for example, to make action, to reduce the risk from storm, to reduce the risk from wildfire, reduce the risk from health, and et cetera, to all the type of risk, even from flood. So eventually they will be able to save more, more properties and also to save lives as well. So I think this is like the main goal for us. And this is why we so looking and so like the insurance industry.

The influence is huge. How did you get into this? Like what was your spark to start the company? I completely agree with your premise on the business 100%. I mean, understanding, you know, proper building valuations, proper building risk management, all those kind of things create drastic and significant and almost immediate improvements in both underwriting losses, properly. capturing enough premiums to pay claims, all those kinds of things, 100%.

But like what, you know, I'm sure, you know, your boyhood dream wasn't to be a geographical building data analysts, you know, where, how did you get to this point and what sparked you to create this company? So I think first, I really like this industry of the just special public tech information. Like, this is where I first find this industry in the internet. agent's corp and I really love this like what you can do is data it's huge and I think this is where we are starting to to be in love in this industry and after this when I understand okay so what is the next step how we can create something valuable you know there are many many sectors and

many industries that not provide value but you know as a as a as a young generation we're always looking okay how I can provide more value to eventually to the world like if I will die tomorrow, like, what is the value that I bring to the world? Like, I just, you know, breathing and sleeping and et cetera. So by looking on this direction, I said, okay, the biggest value that they can provide eventually is to do X, Y, that. And as I said, like, to protect properties and to protect life eventually with property information.

And this is eventually, okay, so what is the role to do this? So we also working with, for example, with the World Bank, as well, also we worked in pass with FEMA federal emergency response of the United States to make sure that so we not only do like direct insurance carrier we're looking on another area to eventually to protect to protect people life and people properties and to make make the life better for all of us so even from the small things to big things so I think this is what what is what is good in insurance industry again, it's the wonderful industry to make a change because eventually they pay the bill for everyone after the natural disaster, after losses.

So that's tremendous. Thank you. So when we, you know, we're thinking about this property information, you have both residential and commercial buildings. And one of the things that seemingly separates you and I'm interested in this is the idea of this 3D aerial imagery. What does that mean? How do you collect it? And why is that an improvement?

Why is that an advantage? So I think when we're looking on the entire area, we need to create, not only looking on the TD environment, also we need to look on 3D environment. And I think objectively, when you're looking on the free-day environment, you can receive much more insights. I can give you from the smallest insights. So there are water body,

and you know what is the distance between the property and the water body. But when you have the 3D information, like what is the height of the property and how many stories you have there, and also the water body, what is the height of the water body, and what is at this stance,

so it makes the entire picture differently. So if the water body is very close to the property, but actually like 10 meter less or, you know, 20 feet less. So for you, the insurance, so the risk is very low. But if the water body is very high, like even far away, but very high and significant water body, so typically you will understand better your flood risk. And from storm, for example, if you have tree around your properties.

So when you know that tree, okay, fine, like every area in California, every area almost like in Florida, you have trees around the properties, but if you know, for example, what is the height of the trees? So you know the trees is two times this property and it's very close. Or, for example, it's only one meter. This tree, and it's very close to the property. So the entire risk is changed. And this is exactly what we will provide. We can continue with the slope of the roof, for example, and you have this information like today on the NADCATM modeling like AIR and it's feeding. this information and it's missing from the insurance career perspective. So where do we provide this information? Some of these already including and some of this is not included, but it gives

you an entire different perspective on the environment. Yeah. And also by Lewis. That's a really interesting. That's a really interesting insight because, you know, I'll tell you, that's the battle. So where I'm located is upstate New York, the Albany, New York area. So we, we actually, people who aren't familiar with the geography, it's actually where the Mohawk River, which runs west to east. And the Hudson River, which I think is the third largest river in the country, runs north to south.

It's where they meet is basically this Albany. There's another city, Troy, but it's where they meet. And it's a valley. So there's basically two mountain ranges, and then the Hudson basically carved out this valley. So you'll have people that live, you know, a quarter mile or less from the Hudson River

that are four. 400, 500 feet above the Hudson itself because of the slope, right? There's a tiny amount of flat area. And then it goes, goes up. Basically, Albany and Troy are built on the sides of hills. And ultimately, not mountains, probably more like hills, but, you know, smaller ranges. And, but there's no, there's no risk of the, if, let's say, if the Hudson River floods those properties, we have much larger problems as a society than, than that, than that, then that,

I flood, you know, at those places. And you would have battles with the insurance carriers around flood issues and water issues. And I'd be like, no, I get that this pin and this pin are too close for you if it were flat. But it's, it's, you know, people can't see me. But, you know, there's a substantial difference. And you'd have to have this battle every time with them about that. And, you know, it just, you know, and what I'm hearing you saying is that at least in that one particular use case, this type of 3D imagery solves that problem.

You can give them both the height and the distance and say, look, there's no chance that this property floods. It's 350 feet above, even though it technically is within the horizontal distance that would be a flood. Is that accurate? Accurate. And actually, that might pitch. So I think you can steal that story. You can say, I know this guy up in New York and here's what, you know, you can steal away. So let's, so how do you get?

How do you get this imagery? Like where do you get this from? So typically we have a couple error imagery data source. We're not related only one error imagery. It's very important for us. So today we find like many insurance carriers that's using some type of error imagery, but eventually if they cover only 70% or even, you know, 74% of the entire book, it's still, it's not giving service to anyone.

So I think to be able to provide to anyone's service and good service, even if you're living in sub-urban in May or if you're living, for example, in Montana or if you live in New York, eventually the insurance care needs to serve everyone. So I think for this, we have to work with many several, we're working with several aeronage providers and also to provide the most recent air limitry to our client. So this is our first priority. And I think this is regarding the air imagery. So we use aircraft and also we're working outside of the United States and outside of the United States.

in some places, you know, the insurance carrier that insure every, every, the entire globe, even in China, for example, you will find an American company that insure there. So typically we're able to serve and to the insurance carrier everywhere. And this is one of our biggest advantage. So for example, in Australia, almost all the insurance carrier in Australia using our data. For example, in Japan, we have huge insurance demand from this. area as well. So we're able to sell them as well. And also, of course, in United States. And we're growing in footprint because eventually, like, we're thinking that we're living like in the United States

and it's only our area, for example, New York or for example, California. We're living in one state. It's fine. But eventually everyone's suffering the same problem. And as we know, the insurance space, it's one global market. So if there are huge event in Florida, it will influence all the entire insurance more. A range insurance, if it will be influenced on the range rents, eventually it will influence on all the insurance carrier around the globe. So even if I'm living in, for example, Miami, I will have this influence. And even if I live in New York, I will feel the influence of raising of the insurance

carrier, raising of the premier. So I think that eventually everyone's suffering the same. We need to be able to help to all the insurance care, 100% coverage. and also the 3D information. So we have to leverage as much as possible at that time. Yeah. I've actually seen one of those planes that's canvassing fly over our area before. It's kind of funny.

You see this plane like crisscrossing, you know, kind of doing like a lattice pattern across area. And you're like, that plane is what is that? You know, at first you know, at first you let them what the hell they're doing. And then, you know, and probably most people don't even pay attention, but being a nerd, you know, we're all nerds in insurance industry. You're like, I see. I give it. what they're doing, you know, they're making this pattern that's a little too, you know, it's not just someone out for a ride. Like it's like a legit, I can watch them working back and

forth. And it is pretty wild how that happens. So, okay, so you have this imagery data. And then basically what, what your company, what your software you built does, it's actually taking and, and, and it's able to analyze these pictures. I'm assuming, is it, is it, is it video footage? Is it, is it actual pictures that you're getting back? Is it both? Like, how are you able to decipher, you know, from this plane flying over? And I guess this is probably some of the magic that maybe people who don't understand how the technology works, maybe just give them some insights. This plane flies over Albany York, ran, it goes to the beginning creates a video or a set

of images and they deliver it to you. How does that turn into you knowing height, distance, you know, all the way down to the shrubbery of the building and how different, you know, there's a little, crick behind your house that could that could overflow but this this one over here is not a problem and we need to adjust like how do you and maybe I don't without giving way the secret sauce and I'll tell you very few people who are listening to this podcast no ones and zeros so even if you told them then they probably couldn't do it um but you know the how does that actually work how do you how do you create that type of how do you create the structure in the images is probably a way of

asking that question. Yeah, so typically we, it's not too much secret source. Like we go by high level because we don't want to be too much nerd, you know. So typically we're using, we leveraging AI machine learning models and the most sophisticated models on the industry and we also develop internally. So we have a couple of doctors and PhDs that are doing it. And also from another end, we also leverage an algorithm, the independent. We have several patterns around this algorithm that allowed us to be able to enrich our air models and also increase our results.

So in this key, we're able to also to provide a 3D environment and not only the 2D environment. And as we're looking, it's very simple regarding 3D information. So as you have their imagery, so you typically have one imagery from one that looking on the same building. Like you imagine that you have two imagery on the sky from different directions, different angles. And both of them looking at the same building. typically you create their translation between these two meanings and also the point of the ground. So you're able to create this 3D environment. And the secret is how you create it in scale and how you create accurate results and better data and et cetera, et cetera.

So this is typically what we are more focusing on. And yeah, I hope it was in. Yeah, no, that makes a lot of sense. I mean, basically you're getting different pictures of the same structure and then the algorithm is able to pinpoint point the structure and kind of pull all those things together. And then so you get all this this raw data from the images itself. And then what one of the things that you guys are doing is then taking that and actually going a step further and saying, okay, so we, we, we have all this raw data pulled from

this imagery. And now we're able to say not just that a shrub exists, but that, you know, again, just using your example of it before, that that this shrub. is actually creating a fire hazard situation because it's too close to a building or this tree is overhanging a series of power lines that, you know, is in a wind zone that could easily be pulled down. And so, so that must have taken a lot of, of the, I'm assuming that there's the first stage, which is the flat nerdiness of, okay, pull all this imagery, pull out the raw data. Now we have the raw data. Then there's actually the business piece of it, which is coming in and starting to execute

that talk talk a little bit about like um how do you start to determine are there just straight regs that you're working off of is it you're bringing in uh expertise from actual insurance carriers risk management PhDs etc uh actuaries are you know they're getting involved like is there a whole pool of people helping you determine what the actual insights are that you should be pulling out of that raw data so typically we the most uh helping people it's actually the carrier himself carrier himself so we connected to many careers to their clients, and we're always looking for new demands of data and always be able to receive insights. Okay, this is interesting for us. Right now, it's bushes and what fire risk is more interesting for us or, for example, storms, and this is what

we try to get. We provided with the data, taking the claim information as well and see if there are coalition between the models and the claim data. By this, we able also to learn the insurance carrier what is the ROI that you can get and what is the insights and correlation between their own attributes and the claim information like historical claim formation. So we're able to compare it together and to see actual ROI. And after one year they use it. So they say, okay, I able to reduce my risk in X amount by notified the property owners, for example, with the most highest risk, or for example, by able to take the new, the new, sales like the new quoting and to offer a better price for the new clients.

And the huge amount of analytics, how you can take this information and convert it to the profitable area. And this is, I think, what the insurance carrier focusing on. So absolutely. So first, we're working very close with insurance carrier. Also, we have a great advisor. It was a chief analytics officer, a job and also in Greenery. So we bring huge amount of information from the industry.

and we also use people in the industry to give us insights of what is the needs. And eventually, I think that the biggest insights is to work directly with insurance care and receive always feedback against the claim information and what is the profit they see after one or two years and et cetera. What's up, guys? Sorry to take you away from the episode, but as you know, we do not run ads on this show. In exchange for that, I need your help. If you're loving this episode, if you enjoy this podcast, whether you're watching on YouTube or you're listening on your favorite podcast platform, I would love for you to subscribe, share, comment if you're on YouTube, leave a rating review if you're on Spotify or Apple iTunes, etc.

This helps the show grow. It helps me bring more guests in. We have a tremendous lineup of people coming in, men and women who've done incredible things, sharing their stories around peak performance, leadership, growth. sales the things that are going to help you grow as a person and grow your business but they all check out comments ratings reviews they check out all this information before they come on so as I reach out to more and more people and want to bring them in and share their stories with you I need your help share the show subscribe if you're not subscribed and I love for you to leave a

comment about the show because I read all the comments or if you're on Apple or Spotify leave a rating review of this show I love you for listening to this show and I hope you enjoy it listening as much as I do creating the show for you. All right. I'm out of here. Peace. Let's get back to the episode. Yeah.

So philosophically, do you see, so part of the 200 billion to 520 to at some point in the future, a trillion in property losses just in the U.S., you know, and a decent portion of that is the social inflation of actual the judgments, right? We unfortunately, and I live in one of those states that seemingly believes money grows on trees and is putting judgments out into the world that are, in my opinion, are bananas. Only people who don't actually spend money could actually create these judgments. But that's part of it. Part of it is just actual inflation.

Do you see, to me, risk mitigation has, can have an, impact, but I worry that mitigation, there's only so much you can mitigate, right? Like if you, if you do all the right thing today, you do all the right things in the state of New York. And one little one thing happens, you can still get absolutely obliterated with this ridiculous mega judgment. So do you see, yes, mitigation, but is it also a lot about just more like proper pricing being able to reduce premiums?

Because, you know, I mean, everyone who's listening to this because primarily we're retail insurance, independent insurance carriers, vendors, technologists, and agents is the audience of this podcast. It's the independent side tends to listen to this show more. So, you know, I think most people are aware that oftentimes it was like, what's your zip code, what's the square footage of your house, here's your price. You know what I mean? Like, that's how it was done. And what I see out of this and what excites.

me is to be able to say things like, okay, this house, you know, this house, 1800 square feet, this house, 1800 square feet. One could be, you know, could be one X premium and the other could be four X premium. And it's because of the actual factors impacting them, even if they're on the same street, right? This one could be, you know, the street could be tilted. There could be, like you say, some sort of water near this one. This one could be higher with no trees in a wind zone and could have more issues from hail damage or what have you. And it's like that type of pricing difference to me feels much more like to have as much or a larger impact than just mitigation because now the carrier is going to be able to say,

okay, we know a trillion in property losses is coming. But if we can price it properly, then everything will continue on as it should. Does that philosophically sound accurate or what do you think? I think it's for both ways. Like first, like we know that all the independent insurance agencies, excuse me, like all the independent agencies that typically have them, eventually they need to focus on sale. And every one of us know that every point of question,

it can say, okay, why are you asking my personal information? For example, many clients like this, while asking my personal question, I don't know if I can answer. I don't know all the answer. For example, for many clients and et cetera, by, and we, we, we think that insurance agents, especially independent ones, when they need to give better offering to their clients, they have to focus only on sale. So this is like what we always try to get to the point of insurance agents absolutely need to focus

on say they don't need to ask questions. They need to be the most polite and by able to just focusing, okay, how I close this deal. Not only how not on like how I asking on his property information and how I feel this information and more focusing on how I close this call with done deal. So this is what the mindset that we want to create to insurance. agent, how I pick my phone, doing the phone call, only focusing on sales, and how I close in the same one phone call, how I close the entire deal. And this is what we want to convert the

insurance agent from today to tomorrow. And I think this is how we do it by providing information. And as an insurance carrier, when you provide this information, you're also able to understand eventually as an agent, okay, the policy will be very high. high because if you cut your brush, for example, I can update the insurance, I can update the carrier and get you better pricing, for example. So they can take an action to reduce the price to their clients eventually. So you can notify. And by this, for example, if this client, for example, will go by himself to the carrier directly, he will receive very high price. But if you as an agent already know this information and say, okay, you need to do X, Y,

And by this I can give you like four times less price. So most of the time you will do this, you will do this action because no one like, like by you by, like if it's something cost $1,000 and you receive discount or if it's commercial property or $5,000, $10,000. So it's much more fit. Yeah. So I think this is where we see that insurance agents, especially independent, can use this information to create the benefits and to create advantage over the market.

Yeah. You know, I, it's funny, I was, I did an interview with the CEO of Plymouth Rock insurance. This was a while ago, maybe four or five years ago. I may have been longer. And they were testing in the state of New York a new homeowners insurance product. And what they were doing was taking third party data, such as what you're providing, mashing it together and basically underwriting and pricing every home in the state of New York, whether they wrote it or not.

And then basically what they waited for was one of their agents to come in, punch that address in, and then the price was basically waiting. And it caused a bit of an uproar. People like, oh, you got to talk to that. How can you frontline underwrite? You have to talk to the homeowner and da-da-da-da. And basically, I think he's still a CEO of Plymouth Rock, Bill Martin, and a great guy, very smart.

And I love this comment that he made, which was basically our position is that the accuracy of data of two or three well done data sources is going to give us a much clearer picture on what the risk profile of that structure is than anything the insured or the insurance agent could possibly tell us, not necessarily because they're doing anything nefarious, although that does happen, you know, anyone who's ever written a homeowner's policy has bent the truth at least a little to get something in, right? He's like, we believe that, you know, just human beings being human beings, not always remembering exactly, you know, like, you know, you talk to people and you say, how many square foot is your home? And they'd be like, I don't know. And, you know, we're sitting here and going, that's nuts.

How do you know how many square? But why would someone think about that, right? They just don't, you know, they're like, it's 1,500 square feet, but really it's 1,900 square feet. And so basically he said, you know, these third party data sources and the increasing accuracy of them. And if you can kind of cross-pollinate a couple with each other and verify, use them to kind of verify data off each other, you get a much clearer picture and a much more accurate risk profile than you could ever get through just doing a simple survey with a homeowner and putting that in an application and then popping it into a portal. And that to me felt right at the time and to this day still very, very. much feels right. Not that you shouldn't ask insurance questions, but gathering the pertinence and the

risk profile specifically about property seems to me like something we should not be relying on humans for. It should be something that we're gathering through real data, through imagery, through property records that are cross, you know, cross reference with each other. That feels that feels much more like the future. And certainly, and not even the future. It feels much like what we should be doing today, then just relying on how someone remembers their home to be, you know. Yeah, absolutely agree. And I think that if you're looking on, like, which agency is working like not one year

or two years, like I interviewed, like, I had a huge amount of discussion with independent agencies and also dependent agencies. And you see that the differences between like agents that working 10 years already, five years, make great business. for themselves and actually created for as a first job. You see that the different, as they already told me, like, we need to provide accurate information to the insurance. So they will know that I'm a best agent on this area.

So I know what I'm insuring. And by this I receive also discount and the insurance carrier already know me. So I create a relationship with insurance carrier. And I think this is like when we try to understand how, as agent we can create our future more clearly and also create more profit. I think one of the biggest one of the biggest things that we need to do, the action that we need to do is understand better our client. And I think this is one of the things that we see more and more as the insurance agent, they're investigated, they know what they provide to the carrier and they're doing homework. And eventually

we want to create the entire homework in one second because you want from them to focus on the sales and to close this deal. And this is exactly what we are looking to have to the insurance agency. So yeah. So very tactically, who uses the I mean, carriers obvious, but do you have agents that are subscribing and using and I guess, I guess explain the actual business to me and who your clients are. I mean, obviously carriers make a lot of sense and you've referenced them multiple times. But like say an agency, like I own an independent agency. We work primarily with commercial customers

and commercial property is a big part of our business. So I'm looking at what you're doing. And when we scheduled time to talk and you're going to be on the podcast, and I'm looking through it, I'm going, this is really interesting. Because as a national digital commercial property broker, we don't see in person any of the buildings that we insure.

Right. So what we do is we pull up a Google map. Well, that's just a fly. flat image, which hopefully isn't blurry or terrible. And, you know, hope that it was done in the last, you know, five years, I guess. And, you know, and that's really the best that we can get. So would, is your, you know, is, is, is this something that we would subscribe to and get that information? And do, do you guys have the ability to do things like calculate property value? Or am I just getting raw data and specs out of it? Or, you know, what would I be getting as a, as a

client. Let's leave the insurance side. I think that makes a lot of sense what an insurance carrier would get, but let's say someone who's in that sales function, can they be clients? Is that a good client slash use case for you? And what are they actually getting if they were to subscribe? So today we're working very closely with free agencies across the United States. So it's very important for us eventually to open this entire market, like entire capabilities to the agents, because eventually, for example, even before, like when you receive all this information to, and what is a process that it's cutting your time and spending your time and actually giving you more information that you can extract by yourself.

And also, as we discussed about Google, for example, not recent enough and not accurate enough and et cetera. So typically what, like even before that, how do you decide where to pick your phone call? You are very limited in time. You need to do the sales pitch and who is the right person to you to call. So typically by using our platform, we see that many insurance agents can able to target they all the aid. So for example, I know I'm working with a hard fold.

I have minimum commitment as agencies to outflow, for example, let's say, half a million dollar. Okay, I have to write premium of half a million dollars. I know that hardfall, for example, looking at a little bit of a million dollars. for very specific one type of commercial properties or for example home insurance. For example, only home insurance with a policy with a pool, for example. So I are able to select with great with condition. And because I as an insurance agent, maybe I have another carrier that's looking only for

the riskiest property on the industry. So I am able to filter my like my insurance. target audience by using the platform. So this is the first, first reaction that we see very, very heavily that insurance agent looking for the next opportunity, the best opportunity for them. The next and the best one. And I think this is very important because eventually we are limited in time in our life. And you know, we need to be very focused to create big profit. And this is exactly what we hear. And this is the first one. The second one is regarding to when you have customer on your phone call, you just need to look for his address.

And you can cut the entire chain and try to sell as short as time as possible. So you don't need to wait and say, okay, I will call you in two weeks. And the same time, he already closed with another agent, for example. Or you already close it. So you can make the entire, you can make the entire sell cycle in one phone call. And this is eventually what we are trying to work with the agencies. And we want for them, again, we want for them to be able to focus only on the how I close, my next call.

And not how I call to the next client. I asking the question. I investigated, received the information, and after this calling him back in two weeks, and try to close the deal. So this is, I think, they eventually were where we are trying to cut. Yeah.

Yeah, I like that. I like that. You know, one of the things that we're very big at at our agency is, is instead of, you know, I try to, I butcher this quote all the time. and everyone listening will understand.

But like I try to operate this business like the like the Bruce Lee quote of like, you know, be like water, right? Like, you know, I don't come into the business with an ideology. I taught, I tend to, you know, find carriers that I really appreciate working with and people inside those carriers that are like working. And I say, what do you want to write? Send us out into the market to go find that thing. And that, that tends to be how we operate rogue risk is we, we don't necessarily have,

I don't bring niches to carriers. I find out what our carrier. partners want to write and I go out for them. And what I'm hearing you say is what your company is able to do is you're able to say, okay, if property is something you want to write, then you can actually go to your carriers, find out what types of properties fit their appetite the best and then target those properties in either your community or region and what have you. And now you have a very clear picture that this is going to be a property that they're going to want before you even do to reach out to the business owner or the property owner, you can set, you'll know before you make

the call that you have the perfect market for it, because you've already been able to set the parameters around it. That's an incredible competitive advantage. And I think that thinking, you know, oftentimes agents, particularly independent agents, get stuck in kind of the way business has always been done. And these types of methodologies and advantages are what are separating, I think, the new wave of independent agent, especially those that are willing to adopt at least some level of technology and new ways of thinking, this is why there's so many new types of agencies that are coming into the market and growing so fast. They're taking concepts like what you're describing and they're actually putting them into use. I think it's tremendous.

Exactly. And eventually as agencies, you know, you need to reach your target. Eventually, you have commitment to many carriers and you want to be able to classify yourself and to take all this commitment. Eventually, if you got to the end of the year and you don't have your commitment, or you're missing some of the carriers, so they will not want to do the business with you next year. So I think that by having to say, okay, I have this type of carrier that I work with them, as you said exactly, like, what is the appetite for him? What is the appetite for him? What is epitaphotide for you, immediately to say, okay, I want to target everywhere in United States for me, for example, or for example, for New York, to Connecticut, to crossing the Massachusetts,

and even Maine, I can search everywhere my new opportunities. So it's not only related to one zip or to one area. I can call to any one of them because I know what they want. Yeah. Yeah, this is very that's amazing. I think it's amazing. Isaac, this has been a tremendous conversation. I want to be respectful of your time in our audience. And I appreciate you sharing what you guys are doing. And I think that companies like GOX and you guys are creating opportunities for, you know, one of the things that's beautiful about the insurance industry is it's very much to choose your own adventure. And what you guys are doing is presenting information and opportunities for agents who, who love an aspect of the business commercial property or have a who want to attack. a portion of the business in this place, I keep saying commercial property or residential property in a way that that wasn't possible even five, seven years ago. And I think it's absolutely

tremendous. If people want to connect with you and or GOX, how do they do that? Where's the best place to get a hold of you? Get a hold of the company. Learn more. Where do you want to send them? Typically, you can find it on our website like Geoix Analytics and find it very, very easily. This is one way. And also you have connected that connected information. So feel free to reach out. And we will make sure that someone support you and help you to make your next deal and next deal. Absolutely amazing.

Thank you so much, man. I appreciate your time. I wish you nothing with the best. And thank you for coming on the show. Thank you very much. Awesome. Have a good one. It will close twice as many deals by this time next week.

Sound impossible, it's not. With the one-call closed system, you'll stop chasing leads and start closing deals. In one call. This is the exact method we use to close 1,200 clients under three years during the pandemic. No fluff, no endless follow-ups, just results fast.

Based in behavioral psychology and battle-tested, the one-call closed system eliminates excuses and gets the prospect saying yes, more than you ever thought possible. If you're ready to stop losing opportunities and start winning, visit master of theclothes.com. That's master of theclothes.com.

Do it today. Happy holidays. Want to give your host a gift? Consider subscribing, rating, and reviewing the show this holiday season. It really helps the show grow. From all of us at Believe, have a Merry Christmas, everyone, and a happy holiday. If you like the show, please take a moment to rate, review, and subscribe. It really does help the show to grow.

Thank you for listening. You know,