Ross Buchmueller's Insurance Disruption
Insurers that cater to the affluent regularly introduce new types of coverage to add to their property, automobile and excess liability policies.
Bloomberg's Masters in Business - 07/05/16
By Barry Ritholtz
This week on our Masters in Business podcast, we speak with Ross Buchmueller, president and chief executive officer of Privilege Underwriters Reciprocal Exchange, which sells insurance to high net-worth individuals and families.
Buchmueller started at Chubb and later worked at American International Group before he realized that the industry needed a dose of disruption. Too many insurers operate as if they're a monopoly, which he said provided an opening for an insurer that emphasized transparency via mutual ownership.