It is time to start thinking about your 2019 operating plan and the associated key initiatives. It is time for you and your team to start brainstorming and prioritizing the strategic initiatives that will scoop up the valuable resources (money, employee time, products/services, partners, etc) and hopefully provide the best ROI to the business and make you a better company ($$ saved; PH retention; process efficiencies; developing a competitive advantage).
In a recent Coverager daily email, Clearcover CEO Kyle Nakatsuji was interviewed and asked his opinion on the most overused word in insurtech. His response was, “Disruption. The very term is competitor-focused, not customer-focused.”
He’s exactly right. We’ve actually been saying that for years. When we talk with insurance carriers, we never use the word disruption. That’s exactly what a carrier doesn’t want to hear. They don’t want anything to disrupt the policies their clients have in place.
I recently saw an article on Digital Insurance that said insurance companies are struggling to manage analytics teams. The author said that over the past few years, many insurance companies have created centralized big data, data measurement, and data governance strategies and capabilities.