Insurtech
nnovation is no longer Optional This year has been nothing short of a challenge. And yet, it has forced us all to adopt, pivot and embrace new ways of thinking and communicating. One might even say, 2020 has offered us all a most unique opportunity: to become smarter, better and faster, if we choose to accept the mission. The insurance industry was called upon immediately — to step up, and step in — to address the pandemic, civil unrest and inequality, weather-related disasters, technology evolutions — and so much more. Looking toward 2021 and beyond, we see technology and innovation as no longer optional in our industry, but rather, a necessity to stay relevant — and even alive. Through the lens of the independent retail broker, we arranged a virtual interview session with four of our BrokerTech Ventures (BTV) agency partners: Holmes Murphy, ABD, Woodruff Sawyer and Conner Strong & Buckelew. Together, they offer perspective around questions leading us into 2021, and this new era of living, working and playing.
A conversation with four Insurtech thought-leaders BY SUSAN HATTEN
22 | CALIFORNIA BROKER
Susan Hatten, COO, BTV: As we look toward 2021, innovation is predicted to take on three key areas of trend. Please share your thoughts around how innovation may play into each of these most important issues: • COVID-19 • Digital technology • Inequality Dan Keough: Holmes Murphy Racial tension, a global pandemic, divisiveness. These are real issues, with real ramifications which will be long-lasting and on a global scale. Customers will be thinking about what insurance may do to protect and mitigate against future situations of such magnitude. At a macro-level, technology driven by innovation is the great equalizer for our broader insurance community.
CalBrokerMag.com
JANUARY 2021