<p class="lead">The insurance industry has a simple business model: collect premiums, pay as few claims as possible, keep the difference. It has worked for three hundred years. It has also made insurance companies the most distrusted institutions in modern finance.</p>
<p>Daniel Schreiber knew none of this when he walked into the room in 2015. He was a tech entrepreneur — former president of Powermat, a wireless charging startup backed by General Electric. He had built companies, raised money, navigated exits. What he had never done was spend a single day working in insurance.</p>