Title: Founder and Chief Executive Officer
Company: Residence Insurance
Location: New Canaan, Connecticut, United States
Maggie Buchanan, founder and chief executive officer at Residence Inc., has been recognized by Marquis Who’s Who Top Business Owners for dedication, achievements, and leadership in insurance services.
With a diverse background in public policy and business management, Ms. Buchanan has served as a co-founder and chief executive officer of Residence Insurance since 2021. The company, a pre-seed stage startup, is in the pre-launch phase. Motivated by her commitment to finding capitalist solutions to social problems and addressing the housing insecurity highlighted during the COVID-19 pandemic, she founded Residence Insurance to prevent homelessness through a low-cost, premium-based insurance model for low and middle-income individuals. Through countless hours of interviewing experts in insurance, housing, and government policy, she developed a comprehensive for-profit business plan, growth strategy, pitch deck, and marketing materials to ensure the company’s readiness for funding and demonstrate its viability.
Ms. Buchanan’s career also includes serving as principal consultant at Sharakpur Ltd. from 2017 to 2023, where she provided strategic guidance and expertise, and a summer internship at Atento Capital in 2021, where she gained valuable insights into venture capital and entrepreneurship. From 2018 to 2019, she was the DMV site coordinator for Food Rescue US, contributing to food security efforts, in 2017, she worked as an assistant to Carolyn Cawley, president of the U.S. Chamber of Commerce Foundation, and in 2016, she served as an economic policy intern at the Center for American Progress. Earlier in her career, she was a board member of Three Squares New England from 2015 to 2016 and a constituent services intern in the Office of Governor Charles Baker in 2015. Additionally, she has donated her time as a mentor with Big Brothers Big Sisters of Massachusetts Bay.
Before embarking on her professional path, Ms. Buchanan completed coursework at Tulane University, studying early childhood education and history in 2011. Following this, she earned a Bachelor of Arts in public policy, with minors in business economics and business studies, from Bentley University in 2016. Her studies culminated at Duke University, where she obtained a Master of Business Administration in innovation and entrepreneurship from the Fuqua School of Business and a Master of Public Policy in public policy analysis from Duke University Sanford School of Public Policy, both in 2022. Additionally, she is a Forté Fellow, which is awarded to students who demonstrate leadership, represent diverse backgrounds and are committed to advancing women in business. In line with her dedication to poverty alleviation, she has authored several works addressing housing insecurity, including her thesis “Housing Insecurity: The For-Profit Solution to a Government Failure” and “Poverty Alleviation in Nigeria: The Social Impact of Micro Finance is Greater than Foreign Government Fiscal Stimulus Packages,” published in the International Journal of Liberal Arts and Social Sciences.
Ms. Buchanan attributes her success to the mentors and role models who have inspired and guided her, including J.K. Rowling for her philanthropy, Bill Gates for his contributions to technology and charity, and Winston Churchill for his remarkable leadership. She also acknowledges the unwavering support of her family, friends, and community. Looking forward, she envisions Residence Insurance thriving as a successful enterprise. Her primary objective is to substantially decrease the annual number of individuals losing their homes, which currently totals five million. She believes achieving this goal would have an immeasurable positive impact, offering stability and security to countless individuals and families.
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