Remote Q&A: Andrew Jernigan of Insured Nomads
This week, we hear from Andrew Jernigan, Co-founder and CEO of Insured Nomads, an international specialized insurance company (remote company) that is a social impact venture with Not for Sale.
Let’s jump right in!
→ Join the Remote Wing Slack community
Q: You were leading a remote company before remote working became trendy (or even commonplace). What’s one way you’ve seen the remote workforce evolve that has surprised you? Something you didn’t expect 20 years ago?
A: Really, the surprise for me is that so many people have not heard of remote working until recent years. No matter where you go in the world, it’s still one of those suspectful conversation droppers where some people have no scope of reference when they hear you work from a distance and don’t go to the office.
My first encounter is very similar to what I frequently encounter still — it’s assumed that I really don’t work since I’m sitting at my laptop in Basel, Switzerland or Birmingham, Alabama, Rio de Janeiro, Brazil or Redding, California.
Q: What is your biggest challenge leading a remote company?
A: Communication coordination is one of the issues that must be managed extremely well.
When using phone, email, text, text platforms (WhatsApp, Line, WeChat, etc), Slack, Asana, and other solutions it can get wild to know where someone shared the key item you are looking for on a project.
One solution that we have implemented that is wildly customizable is SuiteDash, which has helped in the consolidation of client, team messaging, file sharing, project management, and more.
Q: With COVID-19 accelerating global acceptance and common practice of remote work, where do you see remote work in 5 years?
A: Remote work has been on a trajectory of rapid growth prior to the pandemic. Now with management and human resources observing in practice how they can continue to operate wherever certain team members are working, it’s only going to escalate exponentially.
Benefits will change. There will no longer be the need for more of the expenses that were there before. More employees will become contract labor rather than employees so that the liabilities of working remote are lower on the employer (workplace injury).
Benefits will change. There will no longer be the need for more of the expenses that were there before.
Health insurance will be a reimbursement factor rather than group qualification. Those living/working as location independent may receive some allowance for health insurance now rather than reimbursement for travel insurance since travel insurance is clearly no longer adequate for the long term global lifestyle.
Q: What is your favorite part of “going to work” every day? What gets you up in the morning?
A: Since I’m a justice fighter I’m loving what I’m doing these days. When you are doing what you love then you mastered one of the keys to having work and life balanced, and can let it get you out of bed.
My work is protecting people. I kind of see it as a Robinhood (sword and shield fighting the battles for people) or a Batman (swooping in the rescue and protect those in need) for two different groups of people — those who need to transfer their risk (health, life, income protection when living internationally) and those who are vulnerable and at risk to human trafficking (since as a company we are birthed/partnered with Not For Sale).
In both of these, it gives me great satisfaction to provide means for protection, and allow for a new level of peace of mind for those in danger.
Q: Since you lead an insurance company for digital nomads, what is the single biggest challenge remote workers face when seeking insurance? And is there really a solution?
A: Overall, those who are deciding to work remotely must continue to invest in their personal growth, their personal wellbeing, and their personal financial stability.
Over the years the insurance industry has marketed on price for so long, and conditioned people to go for the least expensive option. We saw the backfire of this in the COVID-19 pandemic when low price leaders had marketed travel insurance to the remote workers/digital nomads but yet these were not individuals on a trip—they were living a global lifestyle.
A global lifestyle calls for international health insurance. A trip calls for travel insurance. Many times the wrong policy is being purchased — travel insurance is not smart for a long-term global lifestyle.
One of the startling realities (or challenges, as you asked) is that many people do not place enough value on themselves to invest in providing for their loves once with basic term term life insurance, disability insurance and proper health insurance. They feel that the lowest price solution is what they should go with rather than understanding the product and potential risk/reward.
We can view what we value when we review how we spend our money.
Whether you are working remotely from your home in your home country or from a mountain escape in Eastern Europe, an apartment in Chiang Mai, or a stones throw from a beach in Brazil, we all must realize that earning enough to care for ourselves now and in the future is essential.
Don’t be proud of a poverty mindset of how little you can earn and still survive. Unless you are absolutely loaded, transfer the financial risk of loss to an insurance company. Warren Buffet does, and he owns many insurance companies (including ones that insure and reinsure Insured Nomads).
About Andrew
Andrew Jernigan is an entrepreneur/maker and int’l risk management professional. Married, with kids, living as an expat, slomad/digital nomad, and remote worker he is passionate about providing powerful protection and exceptional customer service. He is one of the co-founders and is CEO of Insured Nomads, an international specialized insurance company (a remote company) that is a social impact venture with Not for Sale.
You can follow Andrew on Twitter and LinkedIn and follow along the Insured Nomads journey on Twitter, Facebook and LinkedIn.
