Risk and Reward - Supporting Those Who Save: An Interview with MedPro Group CEO

Listen in as Claire talks with Tim Kenesey, the CEO of MedPro Group, a company that has been in action since 1899. As a subsidiary of Bershire Hathaway, MedPro Group emphasizes growth, innovation, and the continued investment into its employees and clients. As medicine and its infrastructure changed over time, MedPro Group evolved its offerings to best suit their customers across the country, illustrating the company’s “commitment to meeting their changing needs”. 

 In this episode, Tim explains the differences between short-tail vs. long-tail business models and expands on forecasting as it relates to claims in medical malpractice. Further, Tim sheds light onto the impact of COVID-19 on the medical malpractice market by explaining that because patients were not scheduling elective care appointments, or even general care appointments, the decline in healthcare consumption and delayed lawsuits will likely bring a flood of activity in the years to come. It is evident that medical workers rallied to save millions of lives, and MedPro Group is proud to protect the assets and reputations of these frontline workers. Tune in as Tim gives advice for young leaders to succeed in the insurance industry and more!

EPISODE NOTES

About Our Guest: Tim Kenesey

Timothy J. Kenesey has spent a significant part of his career helping businesses define their strategy, improve their market position, and grow profitably. Since early 2001, Tim has been the President & CEO of MedPro Group Corporation. During the summer of 2005, in connection with GE’s publicly announced exits from its insurance businesses, Tim helped engineer a sale of MedPro Group to Berkshire Hathaway. In what was described as a “win-win” transaction, GE CEO Jeff Immelt remarked that MedPro Group was an “excellent business… moving into a bright future… with great owners,” while Berkshire’s Warren Buffett stated that the “MedPro Group team has successfully navigated through difficult insurance cycles by consistently delivering the nation’s best defense for doctors and solid results for shareholders.” Since joining Berkshire, in addition to maintaining his CEO position at MedPro Group, Tim is a director of certain other Berkshire subsidiaries. Before joining Berkshire, Tim was an officer at GE Insurance and a Global Business Development Manager at GE Healthcare (where he focused on aiding strategic growth initiatives and was responsible for helping to complete acquisitions and alliances in MR, CT, ultrasound, x-ray, nuclear medicine, and related services businesses throughout the world). Prior to his tenure at GE, Tim helped a variety of clients execute growth and strategic alternatives as a member of the Mergers, Acquisitions, & Corporate Finance Team at global law firm Sidley Austin. Tim began his professional career with KPMG in both audit and tax positions. Tim holds a BBA from the University of Notre Dame and a JD from the University of Illinois and was both a CPA and an attorney. He supports various community service efforts, including his role as the Founder & Chairman of Fort4Fitness, a 501(c)(3) organization that champions active, healthy living in Northeast Indiana. Tim and his wife have three daughters.