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ProspX is a business social platform
that helps insurance brokers, agencies, and insurance carriers collaborate. The
day-to-day business for an insurance broker is really to do three main things:
stay on top of key industry news,
stay on top of hundreds, thousands of insurance carriers
and their appetites and the different kinds of risks they're interested in,
uh... as well as the resources inside of your organization.
Uh... but there really wasn't a system that could help a broker
in an efficient manner
gain that intelligence that they need in those three areas.
We built ProspX to help enable that communication to be much more effective,
much more efficient, much more real-time,
for the benefit the carrier, for the benefit of the broker, and ultimately
for the benefit the client.
I think in leading a team, it's, it's
very, very important to check your ego at the door. And we really have a rule at
ProspX that when we shut the door and we're brainstorming opportunities, ideas,
you know, there's not an idea that's a bad one.
The funding of the ProspX was, was very interesting. We started like most
companies with angel investments and the founders invested first to kind of get
the company off the ground and start to validate the technology.
One of my favorite quotes is "Whether you think you can or whether you think you
And that quote came from Henry Ford and I've always loved that because
throughout the journey of ProspX, so many different times we've heard "You can't
do this" or "You won't be able to do this." What's next for ProspX is we're
always hearing uh... new ideas from our customers on ways to add new
functionality, new things that come, you know, on their wish lists that we
always uh... make note of.
One of the other things that we look at is uh... rolling out into other
verticals, you know, some of our early investments came from
people from commercial insurance, uh... people from commercial banking,
uh... commercial real estate wealth management,
uh... all of them saying there was a huge hole
in their ability to communicate, collaborate, and, and gain, you know, business
intelligence from industry
expertise or resources around their firms as well.
If I was not an entrepreneur,
and knowing that I can't be a rockstar or an NBA
uh... I would probably
an insurance broker. It's such a great industry, something so important to
protect a business.
Starting an organization from scratch you really have to be prepared to
wear a number of hats, work countless hours,
build a great team, leverage relationships, surround yourself with
people smarter than yourself,
know how to scale at the appropriate times based on the growth of your
company and the needs of your customers.
When you look at what Austin brings, when you look at how tight
the community is, the culture, the resources, the connections, and
once again, looking at live music, the hills, the beautiful lakes here
the university, government um...
it's just a great place to live. It's the right size to raise a family and uh...
you know, our company is very, very happy here.