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Ep. 241: Using a Distributed Ledger Platform for Subrogation

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Shownotes

Sanjeev Kumar Chaudhry is the Founder & CEO of Gigaforce, a company that provides a SaaS-based platform focused on expediting subrogation, salvage processing, and recovery for insurance. Sanjeev has over 30 years of entrepreneurial and advising/mentoring experience in the tech industry. Kevin May is the company’s Chief Strategy Officer, responsible for providing innovative solutions to existing processes. Prior to joining the Gigaforce leadership team, Kevin served as the VP of Product Innovation – Subrogation at Verisk Claims, the President of Amali Solutions Group, and the CEO of Recclaim Software Solutions and Acclaim Resource Partners respectively.

This episode is brought to you by:

Insurance Licensing Services of America (ILSA), America’s premier regulatory compliance experts. To learn more visit ILSAinc.com.

Sanjeev and Kevin join us to discuss what a distributed ledger platform is (DLT) and how blockchain technology can revitalize the way the industry transacts with clients. Sanjeev shares what it was like to grow up in India, the time he moved to the US, and how he became a serial entrepreneur. Kevin describes his extensive experience in subrogation and what made him focus on such a niche industry. They explain how much automation a DLT can provide a business and what happens when DLT is applied to a company that already runs a complex AI-platform. They also discuss how Gigaforce helps its clients and what we can expect from them in the future.

“Distributed Ledger Technology is going to be what the internet is to us today.”

Kevin May

What you’ll learn:

  • Where we met Kevin and how long it’s been since we last saw each other
  • Who Sanjeev is, his life in India, and how his career in the US began
  • How ‘niche’ subrogation is in the insurance industry
  • Kevin’s longtime experience in subrogation and why he never left this type of work
  • What Sanjeev thinks of blockchain
  • What a distributed ledger is and how cryptocurrency plays into it
  • Why we should understand what subrogation means
  • Kevin’s thoughts on how blockchain changes the way we communicate
  • How DLT can improve the efficiency of a business with an AI system
  • How safe DLT is when it comes to data security
  • What companies need to do to determine if DLT is worth the investment
  • What Gigaforce does and how they significantly impact their clients’ businesses
  • What the future looks like for Gigaforce

Key Takeaways:

  • Distributed Ledger platforms can automate 70% of a subrogation claim.

Connect with Sanjeev:

Connect with Kevin: