Welcome to Oil and Gas Startups Podcast with Collin McLelland. The Oil and Gas Startups Podcast showcases emerging technologies and tells the stories of founders, investors and industry leaders.
Summer Shedd-Campbell, a seasoned advisor from The Baldwin Group, joins Collin in “The Ugly Truth About Oil, Gas, and Insurance.” Summer delves into how insurance intricacies shape the oil and gas industry, focusing on the challenges operators face in a high-risk landscape. Key insights include the power of data in securing better insurance terms, the role of AI in optimizing risk strategies, and the evolving dynamics of underwriting. Summer shares her journey from Medtech to insurance, driven by a personal connection to the energy sector, and offers a contrarian view on using data and tech to improve insurance outcomes. With her expertise in insuretech and a fresh take on managing industry risks, Summer explores global market challenges, carrier trends, and the promising future of insurance in energy.
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Click here to view the episode transcript.
00:00 – Intro
00:33 – Summer’s Journey into Insurance
05:43 – Impact of Bad Data on Underwriting
14:00 – Proper Coverage for Operations
16:34 – Technology’s Role in Insurance
19:37 – Data Requirements for Underwriters
22:00 – Broker Collaboration Explained
25:25 – Is Oil and Gas Becoming Uninsurable?
29:55 – Educating on Risk Optimization
32:45 – Consequences of Uninsurable Oil and Gas Assets
34:25 – Unique Discussion Points
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