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Arizona Names Insurtech Veteran Interim Director

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For at least a short period of time, Arizona will have a top insurance regulator who has developed an insurance product comparison tool, a private exchange system, and other tools for life and health insurance agents.

Gov. Doug Ducey recently named Keith Schraad to be the interim director of the Arizona Department of Insurance.

Schraad has been the director of sales at First Data Corp., a giant credit card processing services firm, since February 2015. Before that, he was the founder and president of Online Insurance Corp., an Overland Park, Kansas-based insurance technology firm.

While Schraad was at Online Insurance Corp., from 2008 to January 2015, he oversaw the development of CommissionBuilder, a health insurance product rate comparison tool.

(Related: ACA: Arizona Implementing Health Rate Review Rules)

Schraad’s company also created the Blue KC Exchange, a private exchange system for Blue Cross and Blue Shield of Kansas City.

Earlier, Schraad was active in Republican politics. He helped start Synhorst and Schraad, a telemarketing firm that handled fundraising efforts for Republican candidates and university alumni organizations in the late 1980s and early 1990s.

From January 1996 to January 1998, Schraad represented Overland Park in the Kansas State Legislator as a Republican state senator.

Schraad has a bachelor’s degree from the University of Kansas and a law degree from Washburn University.

He succeeds Leslie Hess, a lawyer who had been working as a life insurance company compliance director before becoming Arizona’s previous interim insurance director. 

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