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As a Managing Director at BMI Capital International LLC, Gilad Shai leverages his 20+…
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Gilad Shai shared thisA Korean insurer just made history. An AI carrier disclosed profitability. Nationwide added $6B in reserves without a single hire. This was not a slow week. What happened May 24–30: → DB Insurance Co., Ltd. closed its $1.65B acquisition of Fortegra — the first U.S. insurer ever acquired by a Korean carrier. The playbook now exists. → Corgi raised $106M at $2.6B — doubling its valuation in three weeks. The reason: it was profitable last month. That changes the thesis entirely. → Nationwide reinsured a $16B MassMutual UL block, adding $6B in reserves — without adding staff. That is an AI operations statement, not just a capital one. → Pace raised $46M from Thrive Capital + Sequoia Capital + Pruven Capital to scale AI agents already running at Prudential Financial and WTW. 250,000 autonomous insurance workflows completed. → Great-West Lifeco Inc committed $150M to the Sagard AI Fund — the Northwestern Mutual playbook at Canadian insurance scale. AI compresses operating costs, expands addressable markets, and revalues the businesses built on it — at every layer of the stack, simultaneously. Full analysis: https://lnkd.in/gyQbgR2MInsurance and InsurTech Investments Weekly Report (May 25-30)Insurance and InsurTech Investments Weekly Report (May 25-30)
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Gilad Shai shared thisInsurtech Insights USA. Next week. Wednesday. Blue Stage. We have a great panel for you guys. Four impressive people who represent the perspective of Carriers, Startups, MGAs, Data, Hardcore tech, P&C, Life, and Investors. I am not sure that 40 minutes will be enough to debate the topics below. Add your questions in the comments, and I'll weave them in. 1. Defining the Leap: What Actually Separates Insurtech 3.0 from 2.0? 2. The Data Imperative: Who Owns the Risk Intelligence of the Future? 3. Capital Discipline: Are We Finally Building Insurtech the Right Way? 4. Embedded Insurance: The Distribution Revolution That's Leaving Carriers Behind? 5. The Customer Paradox: More Personalization, Less Trust? Tomer Kashi VOOM Insurance Jennifer Linton Fenris Ashwath Muralidharan Ethos Jess L. Nationwide CC: Eric Presset
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Gilad Shai shared thisThe best technology is the one that gets the customer paid. Not the flashiest. Not the most innovative. The one that works. Arbol CEO Siddhartha Jha said something in Episode 158 of #InsurTechTalk that stuck with me: "The end goal isn't parametric or AI or any of it. The end goal is how are we getting the customer actually what they want." Arbol started as a pure parametric play. But parametric has limits — not every market has the data infrastructure to support it. Not every risk can be cleanly triggered by a single variable. So they hybridized. Part parametric where the data is clean and the trigger is clear. Part traditional where it isn't. No ideology. No attachment to the origin story. Just: what actually protects the customer? It's a simple idea that's surprisingly rare in InsurTech — an industry that sometimes falls in love with the mechanism more than the outcome. The product is not the point. The payout is. 🎧 Clip from Episode 158 with Sid Jha — link in comments. #InsurTech #ParametricInsurance #Insurance #InsurTechTalk #CustomerExperience #InsuranceInnovation #ClimateRisk #Arbol #ProductStrategy
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Gilad Shai shared thisWhen in New York City https://lnkd.in/gng_QXdp Michael Byrne
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Gilad Shai shared this"Climate risk" is not one thing. That's the core message from Siddhartha Jha, CEO of Arbol, in this clip from Episode 158 of InsurTechTalk — and it's one of the most underappreciated ideas in the entire climate conversation. It's easy to read a headline and assume: warmer everywhere, more storms everywhere, one giant trend moving in one direction. The reality is messier — and more interesting: 🌡️ Year-to-year variation is enormous 🌊 El Niño, La Niña, and dozens of other cycles interact in ways that aren't obvious 🗺️ The risk picture is deeply regional — what's true in the Gulf Coast is not true in the Midwest is not true in California And here's the underwriting insight that most people miss: that volatility is exactly what creates demand for insurance. More variation in outcomes = more uncertainty = more need to hedge. That's the market Arbol was built for. If your climate risk thesis is built on a single trend line, you're probably underwriting the wrong thing. 🎧 Clip from Episode 158 with Sid Jha — link in comments. #ClimateRisk #InsurTech #ParametricInsurance #Insuran
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Gilad Shai reposted thisGilad Shai reposted thisThe #GenAI revolution is here, but it needs help with domain specific data! I ran a life insurance policy illustration through all engines. They all analyzed it incorrectly. They all gave an insufficient advice. ChatGPT was just wrong about it, Google Gemini was in the right direction but not detailed enough, Anthropic Claude had the most details but got the policy's mechanism incorrectly. Grok and Perplexity weren't there. But, and this is where the magic happens, if you can add to the models training on proprietary data, like the Atidot and Magnet MCP, advice goes to a whole other level!
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Gilad Shai shared thisNext week - Insurtech Insights USA! Please use Brella app to contact me and schedule a meeting. LinkedIn is great. Emails are awesome. For conferences, I use one scheduler to manage the 15-minute catch-ups and intros.
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Gilad Shai shared thisFour weeks. Four global carriers. Four investments in physical world data infrastructure. The pattern is now clear: → Allianz → Entrix (energy trading data, April 21) → Tokio Marine HCC → Cierpa (ESG corporate governance data, April 27) → Mercury Insurance → BurnBot (wildfire fuel reduction robots, May 12) → Harel Insurance & Finance → Tomorrow.io (AI weather satellite constellation, May 18) This isn't venture investing. It's a data infrastructure acquisition. The carriers making these investments will underwrite climate-exposed risk with observed reality. Their competitors will underwrite it with industry models. The loss ratio divergence won't show up immediately. It will compound quietly for three years — then become very visible all at once. Also this week: Liberty Mutual Insurance took its India stake to 74% — second ownership increase in eight months — in a market growing at 3x industry rate with insurance penetration at 1% of GDP. India just opened to 100% FDI. Liberty Mutual was already there. Full analysis: https://lnkd.in/gSHez7MGInsurance and InsurTech Investments Weekly Report (May 17-23)Insurance and InsurTech Investments Weekly Report (May 17-23)
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Gilad Shai shared this"In my experience, about 70 to 80% of investors who back an emerging manager make exactly one bet with them. One check. One commitment. That's it. Whatever vehicle you put them in first is the vehicle they back." -- Adeo Ressi Such an important insight that I wish I had earlier in my career. Next, how to find an Anchor LP that will also be your GP Investor?Gilad Shai shared thisDon't run an SPV before raising your fund. You'll cut your legs off. I see emerging managers do this all the time. They get excited about a deal. They tell their network. Someone offers to put money into the SPV. Three more follow. Suddenly they've got 10 LPs in an SPV for one deal, and they think they're building momentum. They're not. They're killing their fund before it starts. Here's the math nobody runs. In my experience, about 70 to 80% of investors who back an emerging manager make exactly one bet with them. One check. One commitment. That's it. Whatever vehicle you put them in first is the vehicle they back. Maybe 20 to 30% make two bets, like the fund plus one SPV later. So if you lead with the SPV, you put 10 LPs into a single-deal vehicle, and then when you try to raise the fund, only 2 or 3 of them follow you in. You just stole all your own firepower for a single deal. If you'd led with the fund instead, 100% of those 10 LPs would have gone into the fund. Then a few of them would have done an SPV later. You'd have 10 LPs in a real fund and 3 to 4 SPV checks on top. Instead you have 10 LPs in one SPV and a fund that won't close. The order matters more than people think. Lead with the fund. Always. SPVs come second.
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Full episode with Siddhartha Jhahttps://www.youtube.com/watch?v=vAMWkp73l7g
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Oguz Anakoc I am considering renaming my podcast to "The AI Insurance Stack," everything and everyone wants to talk about AI
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Gilad Shai liked thisGilad Shai liked this🌟 77% of insurers say they use AI. 7% have built it at enterprise scale. 💫 That single gap was the story of ITC Europe this past week. I chaired two days in Barcelona — 650 people, more than fifty speakers — and one line from the main stage shared by Meeri Savolainen from INZMO stayed with me long after the lights came down: "the gap between PowerPoint and P&L." Two years ago, we poked AI with a stick. Last year, it was a pilot deck nobody could scale. This year, the keynotes stopped asking if. The question got sharper, and a lot more interesting: what kind of insurer comes out the other side? Three things I heard, again and again: 1️⃣ The moat inverted. For a decade, we sold scale — more systems, more platforms. This week, a carrier said the quiet part out loud: You need far less technology than you did five years ago. AI-native challengers can now handle a claim for €15 where the legacy path costs €150, and pays out in three seconds, not twenty-one days. 2️⃣ AI stopped being software. "AI is like a digital employee," one investor said. You don't install it. You onboard it, supervise it, and decide how much control to keep. The human role moves from worker to Agent Boss. 3️⃣ Insurance is now underwriting the world AI is making. Disinformation as an insurable risk shares Dr. Samyr Mezzour from Generali. A deepfake CFO that already cost one firm $25M. And a protection gap still yawning — only a quarter of Europe's $125B in catastrophe losses were insured last year. The honest mood in the room? Excited, and a little uncomfortable. That's the right feeling. Because AI-native is the starting architecture. The Frontier Firm is the arrival point. The work of 2026 is the distance between them — and it's closing, whether or not your organization is moving. So here's my question for the insurance leaders reading this: in the next 90 days, are you picking up a stone — or waiting for someone AI-native to build the cathedral next door? More to come on ITC Europe 2026. #FrontierFirm #AI #ITCEurope #Insurance
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Gilad Shai liked thisThank you Gilad Shai for inviting me to speak! The conversation took many interesting, unscripted paths - the type of interview format I enjoy quite a bit. One of the key messages that we spoke on was the focus on providing solutions to the customer rather than being enamored by the underlying technology, whether that is parametric insurance or AI. Novel technologies, whether software or financial, are all just tools to an end goal rather than being goals themselves. https://lnkd.in/eJChcvJZ Full link: https://lnkd.in/e2JszJKp #arbol #insurtech #ai #parametricinsurance #climaterisk
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Gilad Shai liked thisGilad Shai liked this💊 CIPLA vs SUN PHARMA — India’s Pharma Powerhouses! 🚀 Two industry giants. Two unique growth strategies. One common mission — improving healthcare worldwide. 🌍 🔹 Cipla has built its legacy through affordable healthcare, strong respiratory portfolio, and innovation-driven research. 🔸 Sun Pharma leads with global generics dominance, specialty medicines, and strong international presence. 📊 Key Highlights: ✔️ Strong global reach across multiple countries ✔️ Massive market capitalization and consistent growth ✔️ Focus on innovation, quality, and patient care ✔️ Driving the future of the pharmaceutical industry Both companies continue to inspire professionals in the pharma sector with their commitment to excellence, R&D, and healthcare accessibility. 💡💉 As a pharma professional, it’s motivating to learn how these organizations transformed into global healthcare leaders through vision, consistency, and quality-focused operations. #PharmaceuticalIndustry #Cipla #SunPharma #PharmaSector #Healthcare #QualityControl #PharmaProfessionals #Innovation #ResearchAndDevelopment #Medicine #IndianPharma #LifeSciences #LinkedInPost #PharmaCareer #QC #QA
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Gilad Shai liked thisGilad Shai liked thisAI? Where we're going, we don't need AI... I nearly fell off the treadmill this morning when I looked up and saw Back to the Future II playing on the gym screen. BTTF is one of my all-time FAVORITES. Best. Workout. Ever. 🙌 This movie came out in 1989. And it predicted video calls, fingerprint recognition, drones, and wireless payments. Oh...and when Marty gets fired over a video chat? That scene hits different now. But the part that really got me was how characters just talked to their devices. And the devices talked back. That's AI...in 1989. Doc Brown didn't have a name for it. But he saw it coming. I've been in insurance long enough to know that the future doesn't wait for anyone. AI is already reshaping how we manage risk and serve clients. The question is the same one Marty asked Doc: “What happens to us in the future?" Are you paying attention to the answer? (Also, we still don't have hoverboards and I am personally offended🛹) ♻️ Repost if you grew up quoting this movie. 👇 Drop your favorite BTTF prediction in the comments!
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Gilad Shai reacted on thisGilad Shai reacted on thisFull house and nothing but good vibes at our first ever in-house leaders dinner last night. Thanks to everyone who came can thank you Definely for partnering with us on this one. Hats off to Jamie Bartlett for an excellently delivered talk - it’s great to hear broader AI perspectives and stories from outside of law👏 More of these to come. But not before the big show in just three weeks :) P.s apologies Nnamdi for stiching you up with the mic 🎤
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Gilad Shai liked thisGilad Shai liked thisMany thanks to HSH Prince Michael von Liechtenstein for welcoming everyone at this year’s European Center of Austrian Economics Foundation annual conference here in Vaduz, #Liechtenstein. This year’s speakers’ are a remarkable group; their presentations and subsequent discussions are similarly remarkable. #Economics #AustrianEconomics
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Gilad Shai liked thisGilad Shai liked thisWhat a show! I wasn't sure what to expect as a first-time attendee of the Scout InsurTech conference, and I was legimately impressed! Chris Luiz, Michael Fiedel, and their team set up a great conference. The layout was open and didn't use a typical booth-driven expo floor structure which felt like it went a long way in facilitating open conversations. Beyond that, the turnout was great: there was a healthy mix of MGAs, Carriers, and Insurtech companies. It felt balanced. It was wonderful catching up with everyone and meeting with all the new folks I had the pleasure of speaking with about SnapRefund's ClaimsSnap and AgentSnap claim & premium payment platforms. Charged up! Bobbie Shrivastav ☀️Ngozi Nnaji Cally Myhrum Tony Cañas, CPCU, MBA, AU, ARM, ARe, AIC, AIS Curtis Goldsborough Evan Remer Wendy Boe, CIC, FCLS, CRM Michael Balarezo Jordan Fuller Kerry Macca Rana Jchaj Yandy P. Luke Calvert Gareth Logan C.I.P Andrew Bate, CPCU Sarah Bogan Laurel Jordan Jessica Hooper Evan Mills Will Perrone Rose Ann Crooker Eric Pollock Matt Zagursky Craig Caryl Risa MacDonald Max Bedell Alan Corrales Cortez Valkyrie Holmes NavaJeevan Rajaiah
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BMI Capital International LLC
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