Opening a Profitable Insurance Niche Market Means Finding Tribes (w/Blair Baldwin, CEO Boundless Rider)

Blair Baldwin is CEO of Boundless Rider, a specialty MGA focused on product innovation for the motorcycle, power-sports, and e-bike markets. Tribes of riders form an underserved market niche that includes motorcycles, UTVs, snowmobiles and new forms of mobility.  Because these categories represent only 2-3% of an insurer's book, they have not introduced unique new customer personas of riders. Boundless created a new brand of customer experience, and added new features to the product. One example is an e-bikes optional endorsement linked to the Boundless mobile app that enables product discounts for usage.  Blair says that the digital self-serve experience is outdated and cumbersome. They put in features that encourage safety for example requiring the use of a helmet in order to be covered.  His biggest surprise has been the collaboration with carriers to run this part of the business so that they can concentrate on larger lines of business.  Prior to launching Boundless Rider, Blair was the Co-founder/CEO of Quilt, a venture-backed insurtech that was acquired by MassMutual, where he later ran a product innovation studio. Blair started his adventures in insurtech as the Chief Marketing Officer for Goji, an early insurtech pioneer that raised over $100M in venture capital funding. He is a graduate of Harvard College and Harvard Business School. Follow the Insurtech Leadership Podcast airing weekly hosted by Joshua R. Hollander. We give you up-close access and personal insights from the leaders of the fastest-growing #insurtechs and most innovative #insurance carriers and brokers.