NetVu’s Kitty Ambers on Making the Case for Innovation

March 20, 2017 by

Have you noticed how technology is rapidly eliminating tasks? We can bank remotely or have goods delivered to our doorstep with the click of a mouse.

Whether it’s banking, retailing or insurance, nearly every industry is under pressure to improve efficiencies, streamline workflows and put the end-user in the driver’s seat. Innovation, increased competition, regulation, consumer expectations and disruption have all been factors.

These changes haven’t occurred overnight. Think about our industry. Are you automating as much as you could be, or taking advantage of digital technologies such as e-signature, download or real time?

The ESIGN Act made digital signatures binding in 2000. Real-time products like TransactNOW were introduced in the early 2000s. Commercial Lines Download has been around for more than a decade. Yet, adoption of these tools has been slow.

As the CEO of the largest technology user group in our industry and an advocate for innovation, nothing would make me happier than to see broad adoption of these technologies. But as someone who also has roots in the independent agency system, I can appreciate why some agents haven’t fully embraced them.

Independent agents develop systems based on what works for them and their clients. Depending on the markets they serve, they may believe there is a good return on their investment.

If we want to achieve greater adoption rates for new technology — and provide a better consumer experience — we’ll need to face up to some tough questions. Among them:

Have we made the business case for adoption? So often, we fail to answer the fundamental “why?” of investing in new technology. We need to do a better job of making the business case for adoption; how it enhances value and profitability; and the ways it can speed the flow and access of data, and improve productivity and the customer experience.

Are we working together to foster a culture of innovation? I’m a firm believer in collaboration and have worked closely with the Agents Council for Technology (ACT) to advance a number of user issues. Groups like AUGIE, ACORD and ID Federation have also brought together different players in our industry. We must also be willing to share solutions. Agreeing to a set of common standards or opening up a system that otherwise would remain proprietary isn’t easy, but it may be necessary to move forward.

Are we breaking down silos to achieve end-to-end consistency? Are carriers providing the tools agents need to write more and better business? Do vendors understand our distribution channels and our business problems? Do agents realize that until we adopt new technologies, the systems and data to drive further innovation (like big data or mobile apps) won’t be possible?

Are we building systems with the consumer in mind? Whether our customers are businesses or individuals,

we need to tailor solutions to the end-user. Developers, vendors and carriers need to align their platforms so that users don’t have to learn a dozen different systems. Let’s create a customer experience that’s simple, consistent and frictionless.

Are we preparing for the millennial generation? We’re losing the tribal knowledge in our industry as older agents and employees retire. What are we doing to transfer that knowledge and attract millennials? Is it realistic to expect this tech-savvy generation to embrace our “old” ways of doing business?

Maximize the technology you have by participating in a user group. User groups foster the exchange of information, provide valuable feedback to vendors and generate ideas for future improvements.

Together, we can implement innovative solutions more quickly, allowing us to focus on building lasting relationships with our customers.