Latest / The Career Change Podcast with Fexingo: Switching Fields, Bootcamps, and Reskilling / How Bootcamp Grads Can Break Into Insurtech
Transcript
- Lucas: So, a listener wrote in last week asking about a corner of tech that doesn't get nearly enough love: insurtech. Insurance technology. And I think it's one of the smartest plays for bootcamp grads right now. Luna: Interesting. Most people I know are aiming for fintech or health tech. Insurance feels... slower. Lucas: Exactly, and that's the opportunity. The industry is massive — premiums in the US alone are over a trillion dollars a year — but the tech stack at most carriers is still mainframes from the eighties. Bootcamp grads can walk in and modernize that. Luna: But aren't insurers conservative? Don't they just hire people with decades of underwriting experience? Lucas: You'd think so, but the startups are different. Take a company I've been following, a small-business insurance platform. They hired a bootcamp grad from a twelve-week Python program to build APIs that connect their system to third-party data sources. She didn't know the first thing about insurance. Luna: What did she know that got her the job? Lucas: She knew how to structure a REST API, handle authentication, and write tests. That was enough. The insurance stuff she picked up on the job. I think the key insight is that insurtech is hungry for people who can glue modern tools onto legacy processes. Luna: So what's the typical entry point? Is it data, engineering, or something else? Lucas: The most common roles I see are junior data analyst, API developer, and sometimes QA automation. Data analytics is a great foot in the door because so much of insurance is risk modeling and claims data. If you can write SQL and maybe some Python for ETL, you're already ahead. Luna: But do you need to know the difference between term life and whole life to interview? Lucas: Not really, but you should learn the basics. I'd recommend spending a weekend studying the policy lifecycle — application, underwriting, policy issuance, claims. That vocabulary alone shows you're serious. The National Association of Insurance Commissioners website is a solid starting point. Luna: That's actually a great tip. I've seen job descriptions that throw around 'policy admin system' and 'claims adjudication' like they're common knowledge. Lucas: Right. And that's where you can differentiate yourself. Most bootcamp grads apply without any insurance context. If you can speak the language, even at a basic level, you stand out. Luna: What about a portfolio project? How would you tailor that to insurtech? Lucas: Build a simplified claims workflow. Show that you can model a policy, accept a claim, and run it through a basic decision tree for approval or denial. Use Python with a framework like Flask or FastAPI, and a simple database. That demonstrates exactly what they need. Luna: That sounds doable. I've seen similar tutorials for e-commerce, but never for insurance. Lucas: Exactly, that's why it's such a gap. If you have that project on your GitHub, and you can walk an interviewer through it, you're basically saying, 'I can handle your domain with minimal ramp-up.' Luna: Okay, but let's talk about the elephant in the room. Isn't it boring compared to, say, AI or fintech? Lucas: Maybe on the surface, but the problems are genuinely interesting. Think about it: pricing algorithms that adjust in real time, fraud detection on claims, even AI for underwriting. These are data-heavy, logic-driven challenges. And the payoff is stability — insurance isn't going anywhere. Luna: True. And I've read that insurtech investment has been bouncing back. There's definitely momentum. Lucas: Yeah, funding has recovered after a rough couple of years. But you don't need a unicorn. Even mid-sized carriers are setting up innovation labs. They're desperate for people who can ship code, not just talk about it. Luna: So, if someone hears this and thinks, 'That could be me,' what's the first step tomorrow morning? Lucas: Start by following a few insurtech blogs and LinkedIn groups. Then pick two or three job postings for junior roles and reverse-engineer them. What skills do they ask for? Python, SQL, maybe Docker? Add those to your list. And build that claims project. Honestly, that could take a weekend. Luna: That's solid, actionable advice. And you know, if today's episode helped you see a path you hadn't considered, that's exactly why we do this. These shows are ad-free because listeners like you chip in at buy me a coffee dot com slash fexingo. It keeps the lights on without us pitching you a mattress or a meal kit. Lucas: Yeah, genuinely, if you got something from this, that link is the way to keep it going. And it's not just about us — it's about keeping career advice accessible to everyone, not just people who can afford a career coach. Luna: Exactly. So back to that claims project — how would you structure it to impress an interviewer? Lucas: Good question. I'd start with a simple API that lets you create a policy with a premium amount and coverage type. Then a claim endpoint that takes a claim amount. Then a rule engine that decides if it's approved, denied, or flagged for review. Add a few tests and a README that explains your design choices. Luna: And how do you talk about it in an interview without sounding like you just followed a tutorial? Lucas: Focus on the decisions you made. Why did you structure the data that way? How would you handle a high volume of claims? What would you do if the rules changed? Interviewers want to see problem-solving, not just code. Luna: That makes sense. So, what's the one misconception you'd bust about insurtech? Lucas: That you need a finance background. You don't. You need to be curious about how things work and comfortable with data. The domain expertise comes with time, and many companies actually prefer teaching insurance to teaching coding. Luna: I love that. And for someone who's more into the product side, is there a pathway? Lucas: Definitely. Product manager roles at insurtechs are a thing. If you can combine your tech understanding with customer empathy — say, you know how frustrating it is to file a claim — that's valuable. Start as a junior product analyst and grow from there. Luna: So it's not just for engineers. Lucas: Not at all. Sales engineers, implementation specialists, even customer success with a technical tilt. The whole ecosystem is understaffed. And because it's not as glamorous as crypto or AI, the competition is thinner. Luna: That's the kind of edge that bootcamp grads need. So, if you're listening and you've been stuck in the same old job hunt, maybe insurtech is your move. Lucas: And if you try it, let us know. We'd love to hear how it goes. But for now, that's our take on insurtech. It's a niche worth exploring — and the door is open.