PAUL GAGLIOTI III, CIC
President – Diversified Risk
CEO – Harbor.ai
WHAT IS A DIFFERENCE MAKER?
Difference Makers are everyday people doing extraordinary things.
Hear from Insurance and Risk Management experts working tirelessly for the greater good.
Paul Gaglioti serves as both the President of Diversified Risk Solutions and CEO of Harbor.ai. He earned his Bachelor’s Degree from the University of Arizona in 2009, where he double majored in political science and business. Paul earned the CIC designation from The National Alliance for Insurance Education & Research.
FINDING HIS PATH
Since high school, Paul Gaglioti dreamed of becoming an entrepreneur, following in the footsteps of his father and grandfather. Paul’s father saw the potential for success in the insurance industry and knew Paul would succeed.
“Entrepreneurship is something that runs in my family. My father and grandfather started their own businesses. I grew up surrounded by a family of entrepreneurs. Watching someone build something from nothing and be able to take advantage of what they had put together was something that always interested me.”
NEED TO SUCCEED
While Paul was working for another insurance agency, he realized the world of insurance was much bigger than just Home and Auto policies. Learning about how much opportunity was in the industry, Paul realized he needed more education to be successful.
“I had an ‘aha’ moment working in an agency before starting Diversified Risk Solutions in 2011. I realized there was tremendous opportunity to grow in the industry. I love learning about businesses. Insurance is the best industry for that because I get to learn about the different types of businesses out there and how they operate. I realized at the time, that there weren’t as many people as passionate about doing the type of deals I wanted to do. I took that as an opportunity to start my own brokerage.”
PAUL'S LEARNING PATH
Paul learned about the CIC designation through marketing from PIA and realized he was going to need more education to become a best-in-class agent. Paul’s drive and determination to become the best pushed him to earn his CIC designation in 2013.
“I think the education needed to earn the CIC should be a requirement for agents and brokers. Pre-licensing for insurance is pretty complex, but it doesn’t dig into what you actually need to know to understand or sell insurance policies and products. The CIC classes really dive into what you’re actually doing: how a policy really works, how those policies differ from carrier to carrier, and the different forms and endorsements that would modify the coverage being provided.”
THERE'S NO TRAFFIC ON THE EXTRA MILE
Paul started Diversified Risk Solutions in 2011 out of his parents’ home in New Jersey. Paul’s success earned him a new office in New York City.
“My philosophy is hustle beats talent when talent doesn’t hustle. And hustle and talent is impossible to beat. So for me it’s really just about going out there and giving my 110% every time and just really just leaving it all out there.”
In the insurance industry, filling out the same form over and over again has become an accepted norm. Paul was seeking a solution for this industry-wide problem when he met Marc Hadfield, who had a background in artificial intelligence. Together, they leveraged technology to help the insurance industry at large.
“Adaptive technology is one of those things that doesn’t exist until it does. You don’t know you need a smartphone until you can visually see it in your hand and watch it work. If you asked someone in the past (before smartphones came out) what they would want as a phone, they would probably envision a Razor or another cell phone they had.”
Paul and Marc cofounded an Insurtech platform called Harbor.ai as a way to utilize artificial intelligence and machine learning to help streamline insurance transactions.
“We allow insureds, consumers, their agents and brokers, and insurance carriers to live in an ecosystem similar to that of Amazon. They’re able to figure out what to buy, get questions answered based on a particular type of product, industry, or experience, and get insurance options.”
MAKING HIS MARK
Paul believes the insurance industry is underutilizing the solutions technology can provide. Today, Paul’s mission is to use Harbor.ai to help modernize the insurance industry in a way that’s beneficial for everyone.
“We believe what we’re doing with technology is going to enable our carrier partners, insureds, and brokers to grow their business in the most efficient way possible. Whether it be that of the insured, the broker or the carrier in the most efficient way possible.”