Rory

Ron, could you give us a quick introduction and background on yourself?

Ron

Sure. Thanks, Rory. It’s been great working with you over the years – it’s gone by quickly. Interesting how our relationship has evolved.

I’m Ron Rock, and I work with Jobs Ohio, the economic development organization for Ohio in the U.S.

Jobs Ohio is a private nonprofit, which is unique compared to other states where economic development is driven by tax revenue. Our funding comes from the liquor enterprise in Ohio – we run that business, return some revenue to the state, and reinvest profits into economic development. It’s a resilient model that allows us to do unique things, like partnering with InsurTech Insights.

Rory

You mentioned our relationship over the years, but I realize I don’t actually know much about your background. How did you end up in your current role?

Ron

I work in financial services as the Managing Director of the Financial Services sector, one of nine at Jobs Ohio. The organization brings in private industry experts.

Going back 20 years, I started at Nationwide Insurance, working in various roles. Then I moved to Discover Card, Bread Financial, and even spent some time in real estate development. Eventually, I joined Jobs Ohio, initially managing projects across multiple industries. As things evolved, I stepped up to lead the financial services sector.

When I started, my focus was on the insurance segment. My goal was to increase visibility and attract new businesses to Ohio, both domestically and internationally. That’s when I came across InsurTech Insights about four years ago. I saw it as a great opportunity to make connections, and today, we have many ways to showcase Jobs Ohio and the state.

Rory

What excites you about the FinTech and InsurTech space in Ohio? There’s a lot happening there.

Ron

InsurTech has evolved from being just a buzzword to real innovation. Early on, innovation was about going paperless – before that, we had rows of physical files. Today, financial services and insurance are being transformed by technology.

There’s a growing number of founders who understand the insurance business and technology. Initially, insurers thought they could build solutions internally, but now they’re realizing the value of partnerships and acquisitions. We’re at a turning point where companies are looking outside their walls to integrate innovative solutions.

Knowing Ohio’s companies and their needs allows me to attend events like InsurTech Insights and others to find the right connections. My role is almost the reverse of sales – I’m not looking to get money from companies, I’m looking to invest in them. When we first spoke, I remember that realization being an “aha” moment for you – I’m not selling services, I’m helping businesses grow in Ohio.

Rory

I’ve never been to Ohio. Tell me about it—what’s the vibe?

Ron

I always say Ohio and England are quite similar, especially in terms of weather. We get all four seasons, though maybe with a bit less gray than London.

We have a strong sports culture, from American football to soccer. More importantly, we emphasize a balanced live-work-play environment. We have three major metropolitan areas – Cincinnati, Columbus, and Cleveland. Despite being smaller in population (around 12 million), Ohio ranks as the fourth-largest financial services economy in the U.S., competing with New York and California.

Rory

Given Ohio is the fourth-largest financial services sector in the U.S. How does that benefit businesses looking to establish themselves there?

Ron

Being in the Midwest, we offer a unique value proposition. If you’re looking for partnerships or market share, businesses in the Midwest are open to conversations.

Startups used to focus on raising capital, but now profitability is the key metric. Operating costs in Ohio are significantly lower than in other major financial hubs. Companies can achieve profitability much faster here, thanks to strong partnerships and lower expenses – often at a fraction of the cost compared to other states.

Rory

There’s also a high concentration of insurance carrier headquarters in Ohio. How does that support new businesses entering the sector?

Ron

Progressive, one of the largest insurers in the U.S., is in Cleveland. Nationwide Insurance is in Columbus. Cincinnati Financial and Great American are in Cincinnati. In total, there are nine major incumbents, along with regional players like Central Mutual and Ohio Mutual.

These companies are always looking to drive innovation, and our role is to facilitate introductions. Many delegations visit Ohio because they know Jobs Ohio can connect them directly with decision-makers at these companies – something that can be much harder to access in other markets.

Rory

We hear the term “ecosystem” a lot. How important is Ohio’s ecosystem in supporting new businesses?

Ron

A strong ecosystem is essential – it’s all interconnected. You need a mix of corporate players, strong universities, investors, and successful startups.

Beyond that, regulatory support is crucial. If regulations create barriers, businesses will struggle. Ohio has a business-friendly regulatory environment, ensuring companies aren’t bogged down by unnecessary hurdles.

At Jobs Ohio, I see myself as a connector – if someone asks about a specific area, I can link them to investors, university representatives, corporate executives, or relevant case studies. That’s what makes our ecosystem strong.

Rory

You mentioned universities. How do we make insurance more appealing to young talent?

Ron

It’s about changing perceptions. The industry used to be seen as boring and transactional. But now, with AI and emerging tech, insurance companies are becoming innovation hubs.

The talent pool is no longer limited to finance backgrounds – tech-driven students are in demand, too. Many companies are building innovation centers, like Wells Fargo’s new project and Central Mutual’s tech division. The industry is evolving, and there are great career opportunities in it.

Rory

What’s getting you excited about the future of the industry?

Ron

Jobs Ohio constantly analyzes industry trends to align with future growth. AI is going to be a game-changer, and we’re looking at ways to support companies in adopting it.

Financial services isn’t projected to lose jobs due to technology; it’s expected to gain. Roles will shift, and our focus is on ensuring universities and businesses are aligned to attract and retain top talent.

I like seeing the industry’s transformation. It used to be gray suits and dull offices. Now, insurance is dynamic, innovative, and tech-driven. It’s a great time to get involved.

Rory

On a personal note, what are you into? Hobbies?

Ron

We still need that golf game! I love golf, spending time with my two kids – my daughter cheers for her college team, so I go to a lot of football and basketball games, and my son is a golfer.

I don’t take myself too seriously. I used to, but over time, I realized that enjoying the process is just as important. Work hard, but have fun along the way.

Rory

InsurTech Insights Europe is coming up. What excites you most about the event?

Ron

The energy. People come with high expectations, and they’re always met. There’s structured networking, but the best conversations often happen unexpectedly. The informal interactions and side events are just as valuable as the scheduled meetings.

Jobs Ohio will be hosting the press area, where we’ll capture insights from industry leaders. It’s a great opportunity to keep the conversation going beyond the event.

Rory

Thanks for your time, Ron. Looking forward to seeing you in London!