Innovation & Operational Risk: Modernizing Insurance Payments with Todd Greenbaum

Beyond the Legacy Barrier: Todd Greenbaum on Architecting the Future of Insurance Payments

In a compelling episode of Risk Management: Brick by Brick recorded live at ITC 2025, host Jason Reichl sits down with Todd Greenbaum, CEO of Input 1, to discuss the often-overlooked backbone of the insurance industry: payment systems. With a 40-year career within a family-owned business, Greenbaum provides a unique perspective on bridging the gap between analog rituals and digital necessity.

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To find out how TrustLayer manages risk so that people can build the physical world around us, head to TrustLayer.io.

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The Legacy System Challenge

A primary hurdle for many carriers is the weight of legacy infrastructure. Greenbaum notes that many companies struggle to move toward modern models because they are tethered to systems inherited from the past.

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"We've been doing all these things just because we inherit them from the past, and they need to stop doing that," Greenbaum asserts. To solve this, Input 1 focuses on modifiable and configurable APIs that can ingest data in whatever format a carrier can provide, effectively bypassing the need for a total system overhaul.

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Optionality as a Strategic Advantage

Modernizing premium billing is about more than just moving money; it’s about providing optionality for the policyholder and the agent. By digitizing the process, carriers can offer bespoke payment plans—sometimes extending to 12 installments—that better align with the customer’s business and risk profile.

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This digitization also serves as a critical tool for risk management. It ensures that payments arrive when they are intended to, protecting the policyholder from the "nuts" reality of reinstatements and ensuring their coverage remains secure.

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The "Think Before You Go" Philosophy

When it comes to innovation, Greenbaum warns against the common pitfall of "ready, fire, aim". He emphasizes that successful digital transformation requires thoughtful architecture.

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"Be thoughtful about architecting your plan before," Greenbaum advises. He encourages leaders to ask themselves what they can achieve in a digital world that was impossible in an analog one, as this mindset shift is what materially changes how a business operates.

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Advice for the Next Generation: Find and Fix

For those entering the industry today, Greenbaum’s advice is rooted in persistence and focus. In a landscape often distracted by the next "shiny object," he suggests a simpler path to a successful career: "Find something and stick to it".

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He encourages young professionals to identify a broken process, focus on fixing it, and build their expertise through long-term commitment. In an industry where trust and relationships are built over decades, this discipline is a significant differentiator.

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To hear the full discussion on digital architecture and the evolution of insurance payments, tune in to this episode of Risk Management: Brick by Brick.

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👉 Spotify: https://tinyurl.com/ycxb2k6p 

👉 Apple Podcasts: https://tinyurl.com/2kvayrmr 

👉 YouTube: https://youtu.be/YEAts2jc7d4 

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Podcast Host: Jason Reichl 

Executive Producer: Don Halliwell

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