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As a venture capitalist with a technology background, David Wald was less than enthusiastic when his girlfriend’s father suggested collaborating on an app for the insurance industry. Fast-forward, he and his now father-in-law are co-founders of Aclaimant, which offers a tool designed to house information and data and streamline processes for risk and safety managers.
What’s your advice on navigating the current insurance market?
Businesses taking proactive steps to better themselves will outperform every time, and the insurance markets will react. So even if the market is hardening, companies that do more will put themselves in a position to get advantageous rates across every line.
How will your work change going forward?
The global pandemic created a new burden on the need for risk management to be connected to the most up-to-date data in real time. That will continue well into the future, because the risks keep growing, whether from environmental changes, regulatory changes, new digital risks or social-related unrest. The risk manager’s job is expanding exponentially.
What should the industry do to attract more young people to work in it?
What isn’t advertised enough is the pace of change and innovation. All the necessary components are already here; it’s about packaging and messaging and finding the right way to engage a younger audience today.
What is something about you that would surprise people?
I was a competitive chess player in middle school and high school in national competitions and had a couple of decent finishes.
What is your favorite movie?
“The Shawshank Redemption.” I have good memories of watching it with my dad, growing up.