Pros
Praedicat's ideas are innovative and on the cusp of fundamentally changing the way commercial liability insurers measure and manage their current decisions and legacy commitments. Insurers think about risks as they relate to industries. Praedicat thinks about risks as they relate to specific exposures. Essentially, Praedicat is providing an old, stodgy industry with a new lens to be more surgical and profitable. If adopted, this perspective can generate new insurance products, safer corporate behavior and risk-appropriate pricing. The sheer potential is extraordinary. In addition to the compelling vision, I found Praedicat's policies to be generous in terms of PTO, health insurance and informal items such as catered lunches, parties, snacks and parking. Office location near Expo Line also a plus.
Cons
Converting elegant concepts into models and software is not easy, cheap or simple. While every start up has its challenges, the complexity of the subject matter, the high bar for model validation and the sophistication of institutional clients require a tremendous investment time and effort to deliver sustainable profits (perhaps, more than anticipated by management or investors). Also, there are some inherent "cons" in working with the insurance industry as well as solving very complicated, multi-variate problems. Finally, the software's U/I and content have room for improvement.
