As some of you may know, at SPLICE we embrace a work hard, play hard mentality, so when I was given the opportunity to escape the snow in Calgary and head down to sunny, almost 104°F Arizona, I was more than excited to say yes! IASA 2019 took place in Phoenix, AZ and kicked-off with a Craft Beer Crawl, which was a unique way to get attendees acquainted with the conference and with each other, in a relaxed setting. There was no shortage of golf-themed games and exhibits (who doesn’t love a good craft beer with some golf?) Outside of the golf theme, there were numerous games throughout the conference that required attendees to visit and engage with different booths around the hall in order to win.
Aside from making new industry connections and strengthening relationships with our clients, IASA 2019 provided an abundance of opportunities for learning and discussion. This year, Karolina Congdon, our Manager of Partnerships & Alliances, was chosen to speak on a panel to discuss “The Year of the Insurance Platform - Insurer Impact.” As I am more involved on the implementation and client-facing side of SPLICE, this session was both enlightening and particularly relevant to me.
Here are some key insights I took away from the session:
Insurance platforms provide value to all players in the industry. Insurers, InsurTech firms (like SPLICE), and Insureds all benefit. But this panel really got me thinking: How is each player using platforms, and are platforms being used effectively? To answer this question, you must understand how Insurers utilize InsurTech solutions, and how agile they are in adapting to this digital age where Insureds’ expectations are increasing at an exponential rate.
Agility is crucial. We live in a society where consumer demands are ever-increasing and companies that lack agility are perpetually stuck playing catch up. For example: the social media ecosystem. The consumer demand for platforms that allow them to share information, complaints, and anything else, in the “best” way possible, has led to an overload of social media platforms that do the same thing, more or less.
Too many options create clutter and confusion. This phenomenon is also seen in Insurance. From the multitude of platforms and InsurTech solutions available, to the conference experience. From the moment you walk into a conference you’re immediately bombarded by a plethora of people, colors, swag (which everyone is silently judging), and sales pitches–where does one even start?
The most common struggle is figuring out where, and how all the pieces fit together. The more I interact with Insurance, the more I see the industry as a constantly shifting puzzle. At every Insurance conference I’ve been to–including IASA–everyone loves what they see (including the swag), and can find something interesting or valuable at each booth. But, where does each solution or service fit within the Insurance customer journey? This is a common problem faced by Insurers—we see it all the time!
Source: modernanalyst.com
We would love to help you put the puzzle together, identify which solutions would work best for your organization, and optimize the experience for your Policyholders. Want to learn more about how we can help you put the pieces together? Give us a call at 1-855-677-5423 or contact us here.
