Over the last 20 years, Krishen Iyer has continued to discover innovative ways to improve people’s lives, especially through insurance products.
The founder, CEO, and co-investor of MAIS Consulting also works closely with others in the insurance industry to regularly let them know about the best products out there as well as current best practices so they can better help their clients as well. These services can include everything from better marketing tips to greater familiarity with general policies to smarter business strategies and strategic partnerships.
Along with helping the insurance industry do better in serving clients, the Carlsbad resident makes sure to take time for charity projects and to support various non-profits, including the Make-A-Wish Foundation.
This year, Krishen Iyer has found even more opportunities to help his community by making it easier for more people to access low-cost insurance.
MAIS Consulting recently received its first round of capital commitments, which was led by Krishen Iyer. This financing will make it easier to help tens of thousands of people around the country gain access to low-cost insurance as part of the Affordable Care Act.
Residents living in as many as 23 states will now be able to take advantage of these services, many of whom may have thought they would have to pay a lot for quality coverage, only have bare-bones coverage, or even have to do without, thinking they couldn’t afford anything.
The outreach effort will also be able to help MAIS Consulting to be considered a leader in the industry and increase its overall market share and continue to grow. Plus, there’s plenty of goodwill to be gained from helping people navigate the various sites and all the paperwork required through the Affordable Care Act, so MAIS Consulting and the companies it works with will always be eager to assist with these sometimes complex systems.
Even better, Krishen Iyer is now searching for a second round of funding which will assist with growth even more and allow more people to have more options.
Krishen Iyer’s background
Krishen Iyer is originally from California. He attended and graduated from Bullard High School in the Fresno area in 1998. His next educational step was to attend San Diego State University in San Diego, where he earned a bachelor’s degree in public administration and urban development. He also was a member of the Beta Theta Pi fraternity at SDSU.
After his graduation, Krishen Iyer went into the insurance field, which he thought sounded interesting and potentially lucrative. His first few years included promoting affiliate insurance distribution centers which provided a wide variety of products and services for clients. He also managed several insurance companies, and soon felt like he was ready to go out on his own.
His first solo effort in the insurance field included founding and starting up several insurance companies, including NMP Insurance. This was short for Name My Premium: it was an innovative venture that allowed clients to choose their coverage level based on the total premium they wanted to pay, rather than choosing services and products you want and then seeing a total bill at the end.
NMP did well and even caught the attention of others in the industry as well as Inc magazine. The popular business mainstream publication included Krishen Iyer’s company on its annual list of 5,000 top companies in 2015.
Following the success of Name My Premium, he founded another company, which he called Managed Benefit Services or MBS.
The fully-licensed insurance agency and marketing firm focused on helping clients improve and expand their outreach and processes. Most of its clients were in the insurance field, so it was easy to identify and address their challenges and provide them with useful assistance.
One unique service that MBS provided was a regular selection of leads. These were all generated by customer analytic data, which was able to indicate which groups of people and various demographic information had the likelihood of wanting more insurance products and the highest potential of becoming clients for a company or agency.
Having access to this data made it easier for insurance clients to approach clients and increase sales. In turn, Managed Benefit Services benefitted from happy clients and more referrals.
After selling Managed Benefit Services, the next move for Krishen Iyer was to create MAIS Consulting, which brought together two areas he enjoyed: helping his peers in the insurance industry and making sure consumers get the tools they can use.
A big part of this includes educating insurance clients on the importance of marketing – since there are thousands of people out there offering often-similar insurance products, an agent, broker or owner needs to find ways to stand out from the crowd.
This can include everything from their advertising to the types of products they offer.
Krishen Iyer enjoys helping clients see growth opportunities.
A typical day involves taking the time to check in with each client individually to see what’s new in their world. This could include hearing any challenges they might be having.
Then, in the later part of the day, he likes to meet with his staff to discuss some of these challenges and then brainstorm ways to assist. Sometimes, these problems can be unique to the individual clients, other times, there might be some universal situations that may need more discussion about larger industry-wide solutions, which everyone can benefit from. Ultimately, the more challenges that can be solved, the more options will be available for customers, as well as a better experience.
This focus on the customer first goes a long way in building loyalty and possible future business, such as interest in more products. But you have to reach them first.
Overall, Kirshen Iyer is excited about being able to reach more clients interested in low-cost insurance options.