Novum founder takes tech-led method

Trade veteran Christopher Longo based Novum Underwriting Companions in 2019. As CEO, he not too long ago led the corporate to its fourth yr of exponential income progress and has seen its proprietary on-line insurance coverage market entice greater than 7,000 retail brokers.

Longo’s success within the business not too long ago led to his inclusion on Insurance coverage Enterprise America’s 2024 Sizzling 100 checklist, which acknowledges professionals whose innovation and excellence are shaping the insurance coverage business.

At Novum, Longo drives the corporate’s tech-led method to problem-solving by way of data-driven selections and synthetic intelligence.

“Novum is concentrated on modernizing an issue that has been round for years – how do you digitally transact industrial insurance coverage enterprise in probably the most environment friendly approach attainable?” Longo instructed IBA. “Our options are product-agnostic and can be utilized in any section, however we have now chosen to initially deal with industrial insurance coverage.”

Previous to forming Novum, Longo was COO and CIO of AmTrust Monetary. He stated the change in scale from AmTrust to a startup could be jarring.

“The largest problem pertains to the dimensions of our present platform,” Longo stated. “This progress is unbelievable, however it may be difficult, if not irritating, to go from an organization the dimensions and scale of AmTrust to a a lot smaller platform.

“What we do to beat this problem is to be exceptionally environment friendly at prioritizing what concepts and alternatives could have the best impression on the present firm,” he stated. “You will need to have a thick pores and skin relating to concepts, as we’re brutally trustworthy with one another behind closed doorways. I’m blissful to report our course of is working very nicely and the most important problem we have now is being affected person.”

Whereas serving at AmTrust, Longo helped the corporate combine greater than 70 corporations by way of acquisitions throughout the globe.

Being an efficient chief, he stated, requires “having the ability to shortly cut back large-scale, complicated issues into smaller, digestible, actionable gadgets, perceive the order through which they should be executed, and the best way to entice the best expertise to the challenge with the suitable construction wanted for achievement.”

Try the remainder of the IBA Sizzling 100 right here.

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