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 appeal to greater than 7,000 retail brokers.

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

At Novum, Longo drives the corporate’s tech-led method to problem-solving via data-driven choices and synthetic intelligence.

“Novum is concentrated on modernizing an issue that has been round for years – how do you digitally transact business insurance coverage enterprise in probably the most environment friendly method potential?” Longo advised IBA. “Our options are product-agnostic and can be utilized in any section, however now we have chosen to initially concentrate on business 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 might 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 may have the best influence on the present firm,” he stated. “It’s essential to have a thick pores and skin with regards to concepts, as we’re brutally trustworthy with one another behind closed doorways. I’m glad to report our course of is working very nicely and the largest problem now we have is being affected person.”

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

Being an efficient chief, he stated, requires “with the ability to shortly scale back large-scale, complicated issues into smaller, digestible, actionable objects, perceive the order during which they must be executed, and appeal to the correct expertise to the undertaking with the suitable construction wanted for fulfillment.”

Try the remainder of the IBA Scorching 100 right here.

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