Paul Monasterio co-founded Kalepa in 2018 with the mission to help commercial insurance underwriters bind business with confidence. Kalepa's AI-powered Copilot software enables underwriters to focus their time on the highest ROI opportunities and to quickly evaluate and optimally select risk.
Paul talks about finding the balance between underwriters saying yes to everything versus saying no to everything, to focus their time on selecting exactly the right opportunities that bring profitability and reduce claims risk. The first decision an underwriter has to make is where to use their time — so the Copilot helps triage opportunities based on their attractiveness and alignment to the strategic book priorities.
Paul also discusses technology tools and changes applicable to commercial insurance, focusing on the right opportunities and understanding risk exposures in the right context. He sees that underwriters need to be better armed to address the complexity and nature of claims and new lines. He does not see a world in which there are fewer underwriters, or less work to do. instead, he sees winning carriers and MGAs as those who understand where to use technology to augment their underwriters' skills and not fall into the trap of thinking tech will drive personnel cost savings.
Kalepa is backed by IA Ventures, Inspired Capital, and leaders in technology and financial services. Kalepa was recognized as one of the most innovative insurtechs in the world as part of FinTech Global Insurtech 100 in 2022 and 2023, one of Benzinga's Best Insurtechs in 2021, and as a Cool Vendor by Gartner in 2020.
Prior to founding Kalepa, Paul was an executive at Facebook/Meta, Mastercard, and Applied Predictive Technologies, developing novel applications of data and technology to solve the most critical problems of Global 1000 firms in insurance, banking, and the public sector in the US, Europe, Asia, and Australia. Paul also founded Forg, a microfinance organization fostering micro-entrepreneurship in South East Asia. Paul graduated with a PhD in Nuclear Science and Engineering at MIT and holds Bachelors degrees with Highest Honors and Highest Distinction in Mathematics and Nuclear Engineering from the University of California, Berkeley.
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