Firm & Final

Hosted by BCS Financial

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Latest episode

May 2026

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About the show

Firm & Final: The Legends of Stop Loss and Reinsurance is an award-winning stop loss industry podcast from BCS Financial Head of Large Claim Solutions Mehb Khoja. With a new focus each season, Mehb brings together members of the stop loss, reinsurance, and self-funded industries to discuss current and future stop loss issues and trends, and share legendary experience and advice for the next generation of stop loss and reinsurance superheroes. BCS Financial: bcsf.com

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37 recent

May 28, 2026Episode 222 min

Stop Loss Sales Under Pressure | Ed Wadhams, Tom Costello, Pete Laio

The dynamics between selling stop loss policies and underwriting stop loss policies have always created a strange dichotomy in the stop loss industry. But the latest NAIC data show loss ratios in stop loss climbing to an astounding 91%. And, in an environment where both of the severity and frequency of claims are on the rise, this added pressure is being felt by everyone. So in this episode, we’re speaking with sales leaders from throughout the industry about the implications of these loss ratios, how sales strategies are evolving to meet the new market realities, and the impact of continued broker consolidation. Joining us are Tom Costello from Symetra, Ed Wadhams from QBE, and Pete Laio from BCS. Together, we’ll discuss trends in self-funding, captive programs, and the move away from fully insured models, as well as new approaches to balancing profitability and growth in a high-loss environment. And all our guests will make sure to share their predictions for how these dynamics will impact us in the year ahead.🖥️ Play on BCS website – https://bcsf.com/firmandfinalpodcast/ 🎧 Listen on Spotify – https://spoti.fi/3U7rYuq 🍎 Listen on Apple Podcasts – https://apple.co/3Kvdlhg ☑️ Sign up to subscribe – https://bcsf.com/firmandfinalpodcast/ 🦸 Recommend a Legend – legends@bcsf.com

April 23, 2026Episode 129 min

Stop Loss and Supplemental Benefits | Drew Neslin & Liz Midtlien

While the world of stop loss often focuses on mitigating catastrophic employer risk, supplemental health products are designed to protect the working families at the heart of those plans.In this episode of Firm & Final, we explore these "two sides of the same coin," examining how these two distinct product lines manage different layers of risk in an increasingly expensive healthcare landscape.We’re joined by two of our BCS Financial colleagues: Liz Midtlien, Head of Large Claims Solutions; and Drew Neslin, Head of Supplemental Health Solutions. Together, we break down the similarities and differences between these markets and how they can work in tandem to support both employers and employees.Tapping into the depth of their individual experiences, Liz and Drew define some of the features that make supplemental insurance unique, explore the contrasting market challenges that the two industries face, and chart the potential for "claims integration," where medical data is used to automatically trigger supplemental benefit payments. Finally, our guests offer their predictions for the coming year, from industry consolidation and market exits to the "doubling down" on technology and transparency to better serve the needs of the modern workforce.🖥️ Play on BCS website – https://bcsf.com/firmandfinalpodcast/ 🎧 Listen on Spotify – https://spoti.fi/3U7rYuq 🍎 Listen on Apple Podcasts – https://apple.co/3Kvdlhg ☑️ Sign up to subscribe – https://bcsf.com/firmandfinalpodcast/ 🦸 Recommend a Legend – legends@bcsf.com

August 28, 2025Episode 635 min

Capital Markets Vs. Insurance Markets | Theresa Galizia, Tara Krauss, Alexis Neu

It feels like there's a growing disconnect between established players in the stop loss industry and the new entrants who crop up annually. Long-term industry experts point to warning signs that the market may be hardening. Yet every year, new players enter the market, attracted by the undeniable year-over-year growth. So what are they seeing on both sides of this equation that creates this disconnect between the insurance markets and the capital markets? And where are we all going to end up? In this episode, we bring in three pros to sort it all out: Theresa Galizia from Berkley Accident and Health, Tara Krauss from QBE North America, and Alexis Neu from Guy Carpenter.Additionally, they'll discuss why it's so rare to see an all-female panel in our industry, and what can be done about that. And then, why one panelist predicts the stop loss industry will eclipse $50 billion next year!🖥️ Play on BCS website – https://bcsf.com/firmandfinalpodcast/ 🎧 Listen on Spotify – https://spoti.fi/3U7rYuq 🍎 Listen on Apple Podcasts – https://apple.co/3Kvdlhg ☑️ Sign up to subscribe – https://bcsf.com/firmandfinalpodcast/ 🦸 Recommend a Legend – legends@bcsf.com

July 24, 2025Episode 527 min

How Big Consulting Firms Influence Stop Loss & Reinsurance | Laurie Horan LeBlanc, Andrew Peel, Carol Adams

You can't fully understand the stop loss and reinsurance industry without considering the impact that its myriad consultants have on both insurers and underwriters. These consultants bring decades of experience to bear on behalf of their clients, and offer up a unique perspective on what's happening behind the scenes in our business. So in this episode of Firm & Final, we'll introduce you to three of the industry's foremost experts from the consulting side—Laurie Horan LeBlanc from Marsh McLennan, Andrew Peel from Mercer, and Carol Adams from Guy Carpenter. We'll discuss the current market dynamics, the challenges faced by stop loss carriers, and the appeal of the market to new entrants. As consultants in the industry, Laurie, Andrew and Carol will also share how they evaluate new providers and make recommendations to their clients, claims management issues, and the growing role of captives in the market. Finally, each participant in the conversation will offer advice for clients as they prepare for the 2026 renewals season.🖥️ Play on BCS website – https://bcsf.com/firmandfinalpodcast/ 🎧 Listen on Spotify – https://spoti.fi/3U7rYuq 🍎 Listen on Apple Podcasts – https://apple.co/3Kvdlhg ☑️ Sign up to subscribe – https://bcsf.com/firmandfinalpodcast/ 🦸 Recommend a Legend – legends@bcsf.com

June 26, 2025Episode 433 min

Meeting the Needs of the Reinsurance Market | Bob Black, Raj Gulati, Tanya Arrowsmith

It’s summer time—normally the calm before the storm for the stop loss and reinsurance industries. But many experts will tell you the industry feels more “unsettled” than usual. It’s a time of churn, as some carriers exit but other new players enter. Some stop loss carriers are struggling to find margin, while some brokers feel like they’re in a strong position. So in this episode, we want to chart a path for meeting the needs of the stop loss and reinsurance industries amid this market uncertainty.We’re talking to three experts from the front lines: Tanya Arrowsmith from Crum & Forster, Bob Black from Aon Benfield, and Raj Gulati from Risk Strategies Company. They’ll explore the dynamics of capacity and profitability, the impact of market cycles, the influx of new entrants, and the ongoing trends of consolidation within the industry.🖥️ Play on BCS website – https://bcsf.com/firmandfinalpodcast/ 🎧 Listen on Spotify – https://spoti.fi/3U7rYuq 🍎 Listen on Apple Podcasts – https://apple.co/3Kvdlhg ☑️ Sign up to subscribe – https://bcsf.com/firmandfinalpodcast/ 🦸 Recommend a Legend – legends@bcsf.com

May 22, 2025Episode 337 min

The State of Gene Therapy in Stop Loss | Ashley Hume, Brooks Wildasin & Kelly Munger

Gene therapy offers a powerful tool for treating or curing debilitating diseases that have vexed medical science for years. Patients battling conditions like hemophilia B, sickle cell anemia, beta thalassemia, Duchenne muscular dystrophy and other ailments now have new options to consider in their treatment plans.But let's be blunt. Gene therapy is also... at least for now... really, REALLY expensive. And so, as these incredible treatments and technologies are unveiled, those of us in the stop loss and reinsurance industries have to stay informed about new developments in gene therapy, the implications of insurance for gene therapy, and the greater economic and social forces in play.To help us explore these topics, we're bringing in expertise from Ashley Hume, President of Emerging Therapy Solutions; Brooks Wildasin, Chief Product and Innovation Officer at Havarti Risk; and Kelly Munger, Head of US Health at PartnerRe. 🖥️ Play on BCS website – https://bcsf.com/firmandfinalpodcast/ 🎧 Listen on Spotify – https://spoti.fi/3U7rYuq 🍎 Listen on Apple Podcasts – https://apple.co/3Kvdlhg ☑️ Sign up to subscribe – https://bcsf.com/firmandfinalpodcast/ 🦸 Recommend a Legend – legends@bcsf.com

May 1, 2025Episode 230 min

AI in Stop Loss | Ali Panjwani, Jason Oswald & Ian Pietz

Artificial intelligence has landed in the world of stop loss and reinsurance, and this innovative set of tools has the potential to unlock new insights and data sets. But how will AI providers filter out the noise and incorporate their models into this established $35 billion industry? We’re going straight to the source with three key leaders in this space: Jason Oswald from Gradient, Ian Pietz from Prealize, and Ali Panjwani from Merit Medicine.Together, we’ll explore the evolving landscape of predictive analytics in the stop loss and reinsurance sectors, including how artificial intelligence tools stand to redefine underwriting practices and their relationship with data access.Ali will explain his “3-V” value proposition that AI can unlock in underwriting—visibility, variability, and value. And all of our expert guests will lay out their visions for future broader adoptions of predictive analytics across the various carrier types. 🖥️ Play on BCS website – https://bcsf.com/firmandfinalpodcast/ 🎧 Listen on Spotify – https://spoti.fi/3U7rYuq 🍎 Listen on Apple Podcasts – https://apple.co/3Kvdlhg ☑️ Sign up to subscribe – https://bcsf.com/firmandfinalpodcast/ 🦸 Recommend a Legend – legends@bcsf.com

March 27, 2025Episode 135 min

Seeing the Big Picture | Ben Dewar, Vince Lewis & Jonathan Socko

We’re back with season 3 of Firm and Final, and it’s a full house! It’s already been an eventful year in the stoploss and reinsurance industry. So we have lots to cover with Ben Dewar, SVP of Business Development at SBR; Vince Lewis, chief of sales and marketing officer at UME; and Jonathan Socko, the president of ECU.We’ll put forward some theories about the underperformance we’ve seen in the market so far, discuss what it means for a few big carriers to exit the reinsurance space, and explore the growth of self-insurance and captives. We’ll also discuss the value of some new AI tools in the industry and make a few bold predictions for the future of the market. And finally, Ben will reveal to the world why Mehb is no fun at cocktail parties. 🖥️ Play on BCS website – https://bcsf.com/firmandfinalpodcast/ 🎧 Listen on Spotify – https://spoti.fi/3U7rYuq 🍎 Listen on Apple Podcasts – https://apple.co/3Kvdlhg ☑️ Sign up to subscribe – https://bcsf.com/firmandfinalpodcast/ 🦸 Recommend a Legend – legends@bcsf.com

August 8, 2024Episode 1256 min

“Finding the path forward” – Season 2 Finale

The Firm & Final Season 2 Finale is HERE, with a twist! We’ve brought back some friendly faces to revisit self-funding topics in our very first group podcast session. Mehb serves as moderator for this wide-ranging discussion with Andrew Trupiano of ATS Underwriting, Dan Davey of Alliant Insurance Services, and James Donnelly of Lockton Re. Listen in to hear about the industry’s opportunities and challenges, career training gaps, and finding a path forward. PLUS – stick around to the end for an exclusive update on Firm & Final Season 3!🖥️ Play on BCS website – https://bcsf.com/firmandfinalpodcast/ 🎧 Listen on Spotify – https://spoti.fi/3U7rYuq 🍎 Listen on Apple Podcasts – https://apple.co/3Kvdlhg 📱 Watch on YouTube – https://bit.ly/42lnrsi☑️ Sign up to subscribe – https://bcsf.com/firmandfinalpodcast/ 🦸 Recommend a Legend – legends@bcsf.com

July 18, 2024Episode 1143 min

Finding Passion | Mike Kroupa

Join Mehb and Mike Kroupa, Benefits Advisor for Connor & Gallagher OneSource for the next episode of Firm & Final! Mehb and Mike will talk about finding passion in what you do, the parallels between home remodeling and the insurance industry, and the fear of change that is holding many employers back. Plus, Mike shares his tips for transitioning to self-funding or level-funding arrangements, with some client examples along the way. Don’t miss your chance to hear from leaders in the Stop Loss and Reinsurance industries. Subscribe today at https://bcsf.com/firmandfinalpodcast/. 🖥️ Play on BCS website – https://bcsf.com/firmandfinalpodcast/ 🎧 Listen on Spotify – https://spoti.fi/3U7rYuq 🍎 Listen on Apple Podcasts – https://apple.co/3Kvdlhg 📱 Watch on YouTube – https://bit.ly/42lnrsi☑️ Sign up to subscribe – https://bcsf.com/firmandfinalpodcast/ 🦸 Recommend a Legend – legends@bcsf.com