Meet Updater: Rachel Loeffler, EVP for Updater’s Insurance Division
We’re pleased to introduce the Executive Vice President of Updater’s Insurance Division, Rachel Loeffler! With over a decade of experience in bringing data products to market, Rachel is the perfect woman for the job. From S&P Global to the U.S. Treasury Department’s Office of Terrorism and Financial Intelligence, Rachel has a versatile set of knowledge in bringing user experiences to the forefront.
As EVP of Updater’s Insurance Division, Rachel will lead the division through its execution stage. With the conceptualization and roll out of the Insurance Division’s strategy in her hands, we are confident and excited about what’s to come.
We caught up with Rachel to learn more about her sensational background and what excites her about the insurance opportunities that lie before Updater.
How did you come to work at Updater?
In one 11-year stretch, I moved 11 times. Across state lines, within city limits, you name the distance and I’ve slogged through the process. The concept of making the mover experience so much easier by capturing a moment when many significant spending decisions are made really drew me in. David Greenberg, Founder and CEO at Updater, was looking for a seasoned executive with a strong product background to execute his vision for the insurance experience on the Updater platform. Given my background working with intelligence products and the financial community, I understood the opportunity and had to be in it. I’ve always been on the move, and I always will be. I wanted to be part of a team whose everyday passion was to assist people in that constant motion.
What did you do prior to Updater?
Prior to Updater, I spent a decade with SNL Financial which was ultimately acquired by S&P Global. Over that time, I built a banking product of financial and asset-level intelligence which became the must-have analytical tool for banking analysis across the globe. I ran the SNL Kagan Media, Technology, and Communications intelligence business where I brought the power of differentiated video consumption analysis to a global market. When S&P acquired SNL in 2015, I spent the next two years integrating the best-in-class talent and data from two amazing companies as I led a $400M+ business line focused on the investment banking and private equity communities.
Before that decade, I helped found the U.S. Treasury Department’s Office of Terrorism and Financial Intelligence where I developed original strategies to counter terrorism using targeted financial measures.
What gets you most excited about Updater’s Insurance Division?
In a word, the opportunity. We have before us an opportunity to help movers with a set of insurance decisions that they must make, and we have the power to make that a good experience. We also have before us an opportunity to bring our insurance partners a moment when they too, can address the needs of people in motion. The opportunity to matchmake that experience between two critical segments in the moving marketplace really excites me.
What do you see as the biggest problem facing the insurance industry?
There is a lot of conversation about "disruption" to the way insurance has been run until now. To be sure, there are many interesting players in the insurance market looking to change and improve insurance experiences across the board. What they are not specifically solving for is the opportunity to retain customers and significantly bolster brand loyalty. By matching movers with their insurance providers and signaling that an important life event is about to happen — a move — we can break the cycle of this miscommunication and help solve the problem of retention.
What is a common misconception about the insurance industry?
That it is boring and impossible to understand. Insurance is absolutely fascinating in its complexity and in its necessity.