Rhoads is a technology company generating milage out of a particular niche: Boosting efficiency for the insurance industry compliance process.
The business is also potentially quite lucrative, according to Allister Yu (pictured), Rhoads’ senior vice president for operations, who noted there are 11 million licensed producers in the US alone.
“Even though it is very niche we see it as very big in terms of how we can build efficiencies,” Yu said.
The New York-based operation has been in business since 2007. It initially focused on the education space for the insurance compliance sector, pivoting later to developing products that address insurance compliance regulations for producer licensing and related functions.