Scout InsurTech Interview with InsurIQ

InsurIQ is an insurtech company. They seek to empower insurers to navigate the complexities of A&H and Specialty policies with ease, reduce operational costs and enhance partner and customer satisfaction. Michael Fiedel sat with CEO, Greg Gannon, to learn more about how InsurIQ is impacting the industry.

Who are your clients?

Historically, we've worked with major carriers including AIG, Chubb, Zurich, WR Berkley and Liberty Mutual. Currently, we’re focused on expanding our footprint in the accident and health (A&H) space, and beginning to engage more with property and casualty carriers, MGAs and program administrators.

What does your product do?

InsurIQ is a policy administration platform originally built to support our own underwriting and reinsurance operations. Over time, we transitioned to being a full-fledged SaaS company. Our core offering is a highly modular policy admin system. In addition to that, we have two key standalone products:

• Agent Compliance Management Solution (comparable to AgentSync)

• Digital Insurance Storefront

Our system covers front-end underwriting workbenches and back-end operations, allowing for quick product setup and flexible integration. We also offer modular capabilities, allowing clients to use just the front end or other parts of the stack in conjunction with their existing systems.

How much capital have you raised?

We are entirely self-funded. We operate lean and have not taken external capital, allowing us to retain full control and build sustainably.

Was the company born from within or outside the industry?

Very much from within. The company started as a managing general underwriter after 9/11. Both I and my partner have deep industry backgrounds, and the original platform was built in-house to support our operations. Over time, we spun out the tech side as its own SaaS company, now known as InsurIQ.

What growth metrics have you accomplished over the last 12 months?

While exact figures were not shared, we've rebranded, streamlined operations and expanded from A&H into P&C and program work. Our goals included increasing our exposure and growing into new market verticals. We’ve made inroads with P&C carriers and expect significant program expansion this year.

Within your domain, what is the current challenge that the industry is facing?

There are still many organizations relying on spreadsheets or outdated systems. A major pain point is startup time, the time it takes to launch and scale a new product or platform. Additionally, integration is a constant challenge, especially for systems that don’t come with open APIs or flexibility. We’ve designed our platform to be modular and easily integratable to address this issue.

How does InsurIQ take a unique approach to providing value?

We started by building for A&H, which is far more complex than typical P&C lines. Our system can handle thousands of variables, making it highly adaptable and fast to implement in simpler P&C use cases. We're nimble, responsive to client feedback and can ship enhancements in days, not months. Our team takes a hands-on, iterative approach, and because of our lean model, we provide enterprise-grade flexibility without the overhead.

What inspired the team to start this company?

The tech was originally developed in-house to support our MGU operations. By the early 2010s, we recognized the potential to evolve into a SaaS business. Over time, we divested our operational side and restructured to focus fully on technology. When our former CEO retired, Shameem and I took full ownership and pursued the vision of a tech-first insurtech company.

Can you share any goals for the next 12 months?

We aim to:

• Add at least two major A&H policy admin clients, which are high-value and complex deals.

• Expand significantly into the program space by onboarding dozens of programs.

• Strengthen partnerships with P&C carriers, some of whom are evaluating the full suite.

Hire sales and marketing leadership, as this is our next big area of growth focus.

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