Ledgebrook: Ledgebrook looks to modernize insurance industry
Gage Caligaris CEO & Founder Ledgebrook

Gage Caligaris is the founder and CEO of Ledgebrook. Ledgebrook is a tech-enabled E&S MGA aiming to provide the fastest, easiest quoting experience to wholesale brokers while delivering best-in-class pricing and risk selection via its next-generation tech stack. Led by insurance industry veterans, the firm’s ultimate vision is to become a globally diversified re/insurer built from the ground up with modern technology. Prior to founding Ledgebrook, Gage spent 8+ years at Liberty Mutual as an actuary leading pricing team across multiple LOBs including Auto, Homeowners, General Liability, Umbrella and Excess. He holds a degree in Applied Mathematics from Harvard and his insurance producers license in all 50 states plus DC. In an interview, he speaks on an array of topics.

Excerpts:

Founding of Ledgebrook

The E&S marketplace generally is under-penetrated with technology, both to serve the wholesale broker with fast reliable quotes/service at the point of sale as well as to price and underwrite the business on the back end. Bringing modern approaches to bear throughout the traditional “artisanal” underwriting process is a huge opportunity, observes Gage. He adds that Ledgebrook is an InsurTech MGA and on a mission to bring Specialty insurance into the modern era. Burdened with legacy technology and processes, the industry has not kept pace with the speed of innovation seen in other sectors. “Positioned at the cutting edge of the next generation of InsurTech, Ledgebrook offers the best of both worlds: innovative world-class technology deployed by a leadership team armed with decades of insurance expertise. Our long-term vision is to become a diversified full stack Specialty re/insurer competing with legacy carriers in product lines & markets across the globe.”

Insurance technology – Challenges galore

As the world evolves, the risks that businesses face evolves as well. “The pandemic showed that not all risks can be fully modeled in advance, when new challenges arise the players who prove themselves nimble enough to rise to the occasion quickly, will tend to come out on top.”

Ledgebrook’s comprehensive platform designed for digital natives- Key features:

All of Ledgebrook’s technology is internal facing. “One key element of our approach is to not ask the wholesale broker to do anything different/outside their current norms. From there the streamlined systems and real-time analytics dashboards allow our underwriters and actuaries to price risks and manage the portfolio in a more streamlined way.”

Leadership traits:

A straightforward, transparent, results-oriented individual, Gage adds, “Clarity of vision combined with the discipline to consistently move toward realizing that vision each day. I know where I’m going, how to get there and more often than not have a lot of fun along the way.”

He asks leaders to focus on the process, not the outcome. “Every day when I wake up, I focus on doing the same 3 things: Firstly, I have a great attitude, secondly, I try my very best and thirdly be good to the people around me. When I lay my head down at night the report card isn’t always straight A’s but I know I’ll get another crack at it the next morning and that’s enough for me.

Profit is sanity, revenue is vanity. There are no shortcuts in life, if there are cracks in the foundation the whole structure could collapse down the line.”

Insurance sector- Invaluable lessons learnt:

“Insurance may have the reputation for being “boring” but it’s a true force for good in the world and I consider it a privilege to work in this field. Bad things happen in life and having a financial product to cushion the blow on what is likely someone’s worst day is often taken for granted. I’m proud to play a small part in moving this important industry forward.”

Ledgebrook – Foraying into the future:

“New product launches, new AI/ML features in our tech stack and maybe even a couple surprises up our sleeves and lots of exciting times” quips Gage.