Silicon Valley Bank : Executive Liability & What it means for InsurTech : A Conversation with Max Bruner, CEO & Founder of Anzen

Episode description

We have an extra episode out on The Leadership In Insurance Podcast today, we don't normally release an episode on a Friday but this bonus episode is particularly topical for everything that has happened this past week.

I connected with Max Bruner, CEO & Founder of Anzen Insurance this week after following his insightful commentary and advice for founders in light of the Silicon Valley Bank events.

The last week has without a doubt been a roller coaster ride for tech founders, employees, investors, and executives impacted by the failure of Silicon Valley Bank… at the mercy of the markets, the media, and the federal government, and initially with many more questions than answers. After the Federal Reserve, Treasury, and FDIC guaranteed depositors were protected in full, a collective sigh of relief was breathed by bank depositors and everyone in their orbit.

With the help of Brett McKenzie, we got together this week to record an extra episode discussing #SVB and how the turn of events is impacting the insurtech ecosystem.

Here are some of Max's recommendations - & tune in to this episode to hear more... 🎧

✅ Have a cash runway: don’t learn the hard way the way many of us have—expect a several month slowdown in #VC financing and do what you can to find an extra three months or more of runway than you had planned last week.

✅ Diversify your accounts: be aware of what is covered and what is not under the #fdic for each account. 

✅ Have at least two banking partners with active accounts. Don’t concentrate all funds in one sector specific bank.

✅ Be certain that your payroll provider is diversified in their treasury management. 

✅ Know what a sweep account is—the pros and cons—and know that you can control your funds and have appropriate short-term liquidity if invested in securities.

Thanks again Max Bruner for not only getting together this week to record this bonus episode but also for the valuable insight you are sharing for the insurtech community 🙌

This Podcast was brought to you by FinPro, an executive recruitment business that works in the Insurance and Insurtech space.

Our host in FinPro Director, Alex Bond

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