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Wednesday, April 10, 2019, 05:05 | 2 Comments »

AppEase is on a mission to revolutionize the insurance industry. Insurtech is hot right now and the industry is ripe for disruption. As an advisor by profession, I have seen the trend within the industry to continue outdated processes in efforts to save money and minimize IT staff workload.

However, this short-term thinking has proven to have long-term negative consequences for an industry that is still operating in a very archaic fashion. In a world of AI and Blockchain, what holds companies back? The obvious answer is money, but I don't believe that is the real reason.

Limited IT staff has prevented companies for implementing systems that would vastly improve workflows and business processes. While I think this plays a part, I don't think this is the complete answer either.

It really comes down to fear...

Fear of change. Fear of failure. Fear of loss. We live in a very regulated industry and limited staff time equals long project lists. Change requires many layers of approval. It's scary. It's complex.

The fact is, insurance companies have to change in order to stay relevant in today's ever changing tech environment. Your customers demand it. Your advisors demand it. And if you're not providing, they're not buying.

Don't get left behind.


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