By Grace Shuman | Published by Tyson & Mendes | March 13, 2024

Empowering Women In Insurtech

In celebration of Women’s History Month, we sat down with Denise Tyson, a founder and CEO of Insurtech disruptor, Schaefer City Technologies. She shared with us more about her role, what Schaefer City is up to, and her experience as a female leader. Read on to learn more about Denise and what drives her!

What is your position within Schaefer City Technologies, and what innovation are you most excited about?

I am one of the founders of SCT, and I am also the CEO. Our first product, NaVEL^® is an innovative SaaS (Software as a Service) tool that can identify, manage, and reduce the risk of Nuclear Verdicts^® in a live claim file. There is no other tool on the market that can do this. All too often, an insurance company doesn’t know the potential risks in one of their cases until they go to trial, and then it’s too late. NaVEL^® provides a score from 1 to 10 of the likelihood any given claim has the potential to go nuclear if it goes to trial.

Can you share a bit about the path that led to the creation of Schaefer City?

One of my co-founders, Bob Tyson, my brother, wrote a book on Nuclear Verdicts^® called Nuclear Verdicts: Defending Justice for All. His book is a how-to book for the insurance industry on how to stop a Nuclear Verdict^® at trial. As an insurance defense attorney himself, he talks about his four proven methods to prevent Nuclear Verdicts^®. As he has traveled the country talking to carriers and their counsel alike, the number one question he gets from insurance professionals is, “How do I know if I have a potential Nuclear Verdict^® on my desk right now?” He asked me if I thought we could answer this question. Using my insurance background and knowledge of technology, we built NaVEL^® with a team of data scientists to solve this problem for the insurance industry.

What would you say are the biggest challenges women face in Insurtech?

I’ve been working in fields dominated by men my whole career – public accounting and insurance – so Insurtech is no different. For me, you just have to know your strengths, use them, and follow your passions.

What do you think are the biggest challenges the insurance industry is facing?

The insurance industry has a bad reputation. Everyone has seen the commercials and knows all the mascots, but the overall attitude toward insurance companies is negative. I find this unfortunate because without insurance companies, the world would be in chaos. If you got into a car accident and no one had insurance, everyone would be responsible for fixing their own cars. Who has that kind of money on any given day? The insurance industry needs a positive PR campaign to highlight all the good they have done over the past several centuries!

Have you benefited from female mentors, or other women who have helped you in your journey?

Having spent my entire working career in male-dominated industries, most of my mentors have been men, but there was always a woman I looked up to or sought out to work with to achieve a more well-rounded experience. Most of the women I know professionally are my peers. I consider the peer-to-peer bond between women even stronger and more important because it allows us to discuss our shared common experiences and support one another as we strive for the same goal.

What advice would you give to other women in the fields of insurance and Insurtech?

Insurance is a noble industry and a rewarding career, but you have to do it because you believe in it. Do it because you want to make a difference. Insurance is ripe for innovation. If you have an idea that can help the industry and therefore help others, go for it!

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