Marty Young, co-founder and CEO of Buckle, a tech-enabled financial services company, is addressing the newly formed Special Committee on Race in Insurance Underwriting at the 2020 NCOIL Annual Meeting on Wednesday, December 9 in Tampa, FL. The new committee is allowing the National Council of Insurance Legislators (NCOIL) to examine any unfair racial discrimination that exists in insurance underwriting and NCOIL’s model laws. NCOIL is a national legislative organization with the nation’s 50 states as members. The Special Committee is open to all active NCOIL legislators.
|WHAT:||Buckle CEO Marty Young Invited Speaker at Special Committee on Race in Insurance Underwriting at the 2020 NCOIL Annual Meeting|
|WHEN:||Wednesday, December 9, 2020, 10:00 a.m. ET|
|WHERE:||Marriott Tampa Water Street Hotel and Marina, 505 Water Street, Tampa, FL|
|All programming is accessible virtually for meeting registrants.|
“The formulation of this Special Committee is necessary in addressing and eliminating systemic racism in the insurance industry,” said Marty Young. “I am passionate about taking a deeper look into this important issue to identify areas of where racial inequalities exist in insurance underwriting in order to ensure all are treated fairly and equitably regardless of race, color, national origin, and sex.”
A recent study by the website Insurify found evidence of racist practices in the U.S. auto insurance industry. The report confirmed that black drivers with a clean record who live in majority-Black neighborhoods pay almost 20% more than white drivers who live in majority-white neighborhoods and have previous driving offenses. The report also found that majority-Hispanic neighborhoods pay more than majority-white neighborhoods.
The day-long meeting is divided into three parts. The committee will review the background on insurance industry ratings regulations. During part two, there will be presentations and discussion around the definition of “proxy discrimination.” Part three will comprise presentations and examination of various insurance rating factors.
Marty is a globally recognized financial executive and advisor with over 20 years of financial and operational experience addressing over 75 special situation investments. As co-founder and CEO of Buckle, he is guiding the company to incorporate new technologies and data into insurance and credit products, alongside executing an M&A strategy. He is passionate about creating the USAA of the gig economy. He also serves as Managing Director at M-III Partners, the top Wall Street boutique restructuring firm and on the Advisory Board of the School of Industrial and Systems Engineering of Georgia Tech.
Marty holds a bachelor’s degree in physics from the United States Military Academy at West Point, a master’s degree in operations research from Georgia Institute of Technology, and a master’s degree in business administration from New York University, among others.
NCOIL is represented principally by legislators serving on their states’ insurance and financial institutions committees. NCOIL writes Model Laws in insurance and financial services, works to preserve the State jurisdiction over insurance, and to serve as an educational forum for public policymakers and interested parties. For more information, go to: http://ncoil.org.
Buckle provides a financial services platform that focuses on insurance, credit and advocacy for the gig economy. The company is reinventing the insurance model to more efficiently manage risk, supporting the entire ecosystem of drivers, fleets and transportation network platforms to help everyone achieve economic freedom. Connect with Buckle on Facebook, Twitter and LinkedIn. Visit www.buckleup.com.
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