Insurance-Canada.ca - Where Insurance & Technology Meet

Let’s Talk About Tech, Baby: Enhancing lives every day!

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Reminiscent of the industrial revolution, technology has revolutionized the way that we live. Technology has the ability to enhance our lives and simplify daily tasks by designing devices to reduce our workload. From washing machines to smart phones, technological advances have transitioned us into a state of automation.

The insurance industry is no different than other sectors. From uploads/downloads, EDI and eDocs to eSignatures and audio signatures, technology has greatly impacted our business practices. It has provided a means to service our customers better and more efficiently. Online portals for customers allow instant access to their policies. Mobile apps make it convenient to file a claim, and automated email surveys gain insight into your customers’ experiences. Technology is an ever-evolving entity that molds our existence.

So, how do we capitalize on technology?

The answer is to adapt to our new environment. Insurance carriers are taking advantage of technology by reducing paper and they are using eDocs to accomplish this. Consumers are taking advantage of online presence to eliminate filing wordings associated to policies and accessing them online. In turn, brokers have the ability to take advantage of a number of automated processes.

John F. Kennedy once said, “Ask not what your country can do for you. Ask what you can do for your country.” With technology, this is turned around: “Ask not what you can do with your technology, but ask what your technology can do for you.”

For instance, take paperless initiatives: do you have an automated process in place to delegate tasks based on downloads? Are you manually reconciling accounts as opposed to allowing technology to do the heavy lifting for you?

Here’s your challenge

I challenge you to look at the tasks that are most labor intensive and determine whether technology can help reduce your workload. Efficiency is defined as ‘achieving maximum productivity with minimum wasted efforts or expense’. In other words, take advantage of the use of technology to reduce workloads.

The evolution of how we do business has been strongly based on workflows that are driven by automation created by technology. We owe it to ourselves to audit our business practices and find those tasks that can be accomplished by using the technology that is available to you.

Where to get information2012 Insurance-Canada.ca Technology Conference

During the 2015 Insurance-Canada.ca Technology Conference (#ICTC2015), you will hear about great innovations tailored to your business. Review all options available and find the best solutions for your business. Challenge the status quo and capitalize on the options available to you.

A proper mix of technology and business acumen will result in an efficient and profitable business. Open the dialogue with your technology solution provider and foster the relationship for the betterment of your operation.

At Keal, we believe that the best solutions come from our clients and we are always ready to talk about tech. We’ll be at #ICTC2015.  See you there!

 

Editor’s Note:  Sheldon Williams plays a number of key roles at Keal:  New Business Development, Account Management, Training & Consulting. With a focus on Best Practices and improved workflows, Sheldon is driven by providing his expertise to broker partners in an effort to increase their revenues through the use of technology.

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