"The InsurTech Petting Zoo Is Over" — And What Comes Next

Nick Gerhart — former Iowa Insurance Commissioner, insurtech investor, and now COO of Homesteaders Life — makes the case that smaller carriers can finally outmaneuver the big guys. He talks about building adjacencies around pre-need insurance, why the AI governance framework needs rethinking, and why his single piece of advice to every insurance professional is the same: don't do nothing.

Topics Covered

• The "InsurTech Petting Zoo" phenomenon — what it was and why it's over
• How smaller carriers can outmaneuver larger ones in today's market
• Pre-need insurance and end-of-life planning innovation
• Building adjacencies around core business (Love Always Project, Pillars platform)
• AI governance frameworks and state vs federal regulation
• Why data strategy must come before technology investments
• The consumer experience gap (1035 exchanges taking six months)
• Distribution challenges for insurtech founders
• Intrapreneurship: empowering employees to solve problems

About the Guest

Nick Gerhart is the Chief Operating Officer of Homesteaders Life Company, a pre-need insurance company with $4.5 billion in assets and 3,000+ funeral home partners. Previously, he served as the Iowa Insurance Commissioner (2013-2017), where he championed insurtech innovation through initiatives like the Global Insurance Accelerator and the Iowa Insurance Innovation Conference. Nick has also been an active investor and advisor in insurance startups, bringing a unique perspective that spans regulation, technology, and operations.