Keith Cline, VentureFizz
Dror, Thanks so much for joining us.
Dror Pockard, Earnix
Thank you for having me. How are you?
Keith Cline, VentureFizz
I am doing great. I'm excited to talk to you because we're going to talk about Earnix, which is a company that is growing very aggressively. And you guys are reimagining insurance and banking. So what is Earnix?
Dror Pockard, Earnix
We enable financial services companies, mainly insurance and banks to completely transform the way they do business. By the fact that the world is changing the digital transformation is here and after COVID, it's definitely here to stay. These companies needs to be can fast and agile, and need to have the speed to market to make decisions. And to combine their operations in order to make them far more agile database analytics-based, all of these things are the core of what we do. So when someone is joining Earnix, I actually invite him in a journey to reinvent the insurance or the banking world, we are really enabling them to change things that took ages in the old insurance or these traditional companies with earnings can completely they can completely revamp their operations and be far more adapted to the market means the market is changing like crazy.
Keith Cline, VentureFizz
So what would be a good example of like the use case customer example they could share?
Dror Pockard, Earnix
One Canadian example of customer that. Let's start with the basic process, that insurance and vaccines is very key the pricing process or getting a new price or a new product to the market. It's a process that takes us to take ages, both because of the decision process within the company, the understanding of the implications to the various elements of the price, the product or the price or the pricing structure, the ability to understand what product to set which customer we really want to sell and what's its own. And then all the process to take it and implemented in offices without the call centers and the agents and the people that are the brokers and all that are selling the product the all the distribution channels and make sure that you test everything and you verify everything and you get that provers internally and sometimes externally with regulators. All this process in the way it was done was involved or service systems, sometimes four sometimes 567 different systems that needs to in companies had to transition. To go to it, it wasn't to transition from one system to another. It's a positive involve a lot of people mainly around the testing and validation of the data. It took six to nine months in that customer to get a new product to the market. With Earnix, everything is bundled into one single solution. Everything is automated, you can automate every single day to do you have a very strong governance and compliance who did what who approve what you can control what is happening, you can do within annex the automation of the filing this needed, you can do the automation of all the testing that is required. And the end result is that this customer managed to go from six months to four days, in order to get this product. Now this is changing not only the fact that you do less errors in its index just takes more time to enable it changes the way you compete in the market. Think about that. If it took six months, by the way, we know companies even big company takes nine months a year, sometimes even more. And by the fact that they can do it almost in real time. By the way, there are places we can do things real time. It's not required to be approved by regulators, literally real time based on rules and analytical models. This is unbelievable. And that means they can completely change the way they do business the value that they bring to their own customers. These things completely enable transforming a real transformation.
Keith Cline, VentureFizz
Yeah, that's so important for companies to have that ability to increase their speed to market and obviously have that competitive advantage.
Dror Pockard, Earnix
It's a by-the-way speed to market. It's about the ability to really decide what come what product to sell to which customer in which price or within which plan. And via which channel, it's truly personalization of what insurance and banks are selling to the customers. Because each one of us was a little bit different type of packaging, we analytically we a lot of heavy use of AI and machine learning and deep learning understand what they need and what to serve to which to these customers is very strong.
Keith Cline, VentureFizz
Now you're the company's chief strategy officer. So talk about your background, and what led you to join the Earnix team.
Dror Pockard, Earnix
Wow. Many, many, many years in enterprise software, I'm originally from Israel, the company headquarters is in Israel, and development center is in Israel. I spent several years all the time around business development, strategy, marketing sales, as I've been seven years in, already in the US for another company in the UK for another company. It's funny, but they almost retired. But then RCR approached me and said, This is an invitation to really do something big. And I'll say the more it works, it's not a startup, we're not a startup that has an idea. This works and bring value. And I'll say print money to our customers, helps them to improve their customer satisfaction, and help them do business together. Better, and we are making it and the invitation was let's take it to the next level. And I'm happy to be involved. In Earnix, everyone is involved, everyone has a view, everyone has the ability to influence. And we're working to the level that I sit in a meeting with sometimes developers and think how we can do better what we do and what should be the next steps that we need to do. So working with Earnix is working in a startup that is already selling and prove the value proposition but we can do far more. And we are doing far more and we are continually expanding its environment that combines the startup fun of scraping something new and bringing a lot of value with a true real business value, which is very important.
Keith Cline, VentureFizz
Now the company is growing aggressively. And you know, as you highlighted, the company is headquartered in Israel. But there's a company also has a large presence in Boston more specifically Waltham to you, right?
Dror Pockard, Earnix
Yeah, we just opened this week, our any offices in the Watson watch factory, which is an amazing, amazing place to be in the Charles River. Lots of green, lots of nice, you know, places around, we already grew the business I moved here several years ago, and we started to recruit and to build the business, we have very huge roles in North America. And we have people all over with a core business here, the core office here in Boston, but we as people spread across the nation. And we have an amazing team. It's really a family here that we know people have are very happy to come and be here. So I'm very proud of what we managed to do.
Keith Cline, VentureFizz
Now in terms of growth, as it relates to hiring is that across all different functional areas.
Dror Pockard, Earnix
Yeah, we're hiring across all different functional areas. We would say that the most generic or hiring more on the marketing is development, customization activities, customers, certainly as CSMs professional services, these are the core things that we're investing in hiring in North America. As we mentioned, we grow like crazy. And we need more and more good people that will come we put a lot of effort in the people understanding of how you can improve processes within companies, how you can use technology to do it. And even more than that, how you can use data and analytics to do that because our core capabilities around data and analytics and how you can use more and more of that in order to improve the end result which is getting the end customers of our customers to be far more satisfied and get what they need.
Keith Cline, VentureFizz
So what's it like working at Earnix? What's the culture like what's the day-to-day working environment like?
Dror Pockard, Earnix
There's a little bit of very open in terms of work from home I'm in combination of hybrid, both office and home, we typically try to meet twice a week, for at least once a week in the office in order to exchange ideas into, even to have fun. And we put a lot of effort on having fun, we believe that customers, employees that are happy, will bring happy customers as well. And, and they on the other side, we value the intelligence of our employees and the fact that they support us growing. So it's a fun environment, it's very rewarding environment, we are projects to bring the customer to be alive and start to make use the system is typically fast within a few months. And that means that you, you get the feedback and the great thing of hearing that Yeah, we really help. Customers are consulting with us, we want to have the same attitude and bring value to the customer. So it's combination of bringing value to the customers, very close environment, in terms of between the people and the family, like we welcome people to join us. And I think this is the most important they really invited to join us in one big family across the world.
Keith Cline, VentureFizz
Well, the job market is very active out there. There's lots of opportunities for people to explore, which is a good thing. So why is now the ideal time to join Earnix.
Dror Pockard, Earnix
Because if you really want a meaningful place, if you really want to influence an industry that is changing, and needs to change, big time. This is the way this is the time to join onyx, we influence our customers to change the way they do business and it touches everyone everyone has insurance, right you have an insurance policy for this or that. And it's not easy. And the fact that we are probably the only one that really transformed how this industry work. We are not by coincidence, call it reimagined insurance, original engine banking, we enable them to reimagine the time to do that is now because of what's happening in the market. Everything that is going on. Our customers need us and they appreciate what we're doing. So you're joining a company that is really impacting the world and this is for me the best. This is why I can't because I had the opportunity to be to influence how this industry works. And that's rewarding in big time.
Keith Cline, VentureFizz
Well, if you are incident exploring opportunities at Earnix, you need to go to their company page on VentureFizz, which has all their job listings there, go to venturefizz.com/earnix and you'll see all their listings. Sure. Thanks so much for taking the time to walk us through all the great things happening at the company.
Dror Pockard, Earnix
Thank you for having me. Thanks a lot.
Transcribed by https://otter.ai
