About Us

Hey there, I’m Wade.

Several years ago, I had one of those ubiquitous “ah-ha” moments. It was a moment that set me on the course to create Rikor and solve a 30-year old insurance industry problem.
During my time as an insurance producer, I had the opportunity to provide a presentation on an insurance program for a group of Sotheby’s International Realty franchisees in the western United States. I knew the competition was going to be fierce. So, I threw myself into learning every aspect of their franchisee/franchisor business model to uncover any hidden risk exposures.

And I found one – a BIG one.

As we know, franchisors are “vicariously” liable for all the operations of their franchisees. To mitigate this risk, franchisors collect certificates of insurance (COI). The problem? Not only can certificates of insurance be manipulated, overall they are virtually worthless as they:

  • Are not contracts
  • Provide no guarantees
  • Offer no rights to the franchisor

Ultimately, certificates of insurance serve no purpose as a risk mitigation tool. In fact, COIs are “one of the most dangerous documents that float between insureds, insurers, and a myriad of third parties.”

If COIs are so dangerous, why are they still used?

Certificates of insurance used to be a great way to share high level information when they were first developed decades ago. But, as technology has evolved, the COI has not and there is no sign of them changing anytime soon. I knew something had to change. This was my “ah-ha” moment.

Rikor was developed to replace the antiquated COI process with a platform that provides franchisors with a real-time pulse on their franchisees’ insurance.

  • No more PDFs
  • No more spreadsheets
  • No more uncertainty of risk!

By integrating insurance requirements directly into the platform, franchisees know the exact coverage and terms required by their franchisor. The platform also includes a touchless quotation and rating program leveraging the collective buying power of the franchise system to lower insurance costs.

We work alongside the insurance agents representing both the franchisor and franchisees. This positions Rikor to support all the stakeholders involved in the COI process, significantly reduce risk, and save all parties time and money.


Wade Millward


Hey there. A few things about me.

  • I grew up in Orange County, California
  • I enjoyed tinkering with things at an early age
  • I loved the beach growing up
  • I would often ditch school to go to the beach with my buddies
  • I served a mission in the Philippines for 2 years learning to fluently speak Tagalog
  • I attended one semester of junior college
  • I was married at 21 to a girl I liked since I was 13 (she didn’t like me though)
  • I moved to Utah in 2009
  • I was a commercial insurance producer for 13 years
  • I helped develop software early on in my career
  • I seek knowledge like it’s water
  • I trained myself to listen to books at 2.5x speed on audible
  • I’m an avid powerlifter
  • I question everything, not be argumentative but to learn how something could be improved
  • I love to collaborate with others
  • I believe in continuous improvement or the “Kaizen” philosophy
  • I have a passion for innovation
  • I believe the past should not steal from the present
  • I have an incredible wife and two beautiful daughters who encourage me to succeed

Scott Abbott

Co Founder

  • CEO – ProNexis ’12-Present
  • CoFounder – Five Star Franchising – ’05-Present
  • Managing Partner – Canuck Ventures – ’15-Present
  • CEO & CoFounder – Five Star Painting –‘04-‘15
  • CoFounder – Franchise Foundry – ’08-‘09

Scott built Five Star Painting to become one of the world’s largest painting companies in franchising culminating in the successful sale of Five Star Painting to The Dwyer Group, one of the world’s largest home service brands, owned by the Riverside Company. From the sale of Five Star Painting, Five Star Franchising and ProNexis were formed.

Today, leveraging this success and established relationships with some of America’s top home services brands, Scott has given ProNexis the foundation necessary for explosive growth.
Scott’s tenacity and commitment to creating shareholder value has been evident through several business exits, and acquisitions in franchising.

Scott’s talent to paint a vivid vision for the future and attract talent to that cause has led to past success and will make ProNexis one of Utah’s leading technology companies currently servicing some of the industry’s leading home service brands.

Presently Scott has interests as an investor in several Venture capital funds, Private equity funds and direct investments in several early stage ventures. In several investments, at management’s request Scott provides advisory services leveraging years of experience in home services and franchising. Presently, Scott is a small shareholder in The Dwyer Group, and large shareholder in Five Star Franchising which owns a small lighting franchise and an early stage bathroom remodeling franchise called Bath Solutions.