Innovating for the Future
| Taylor Rhodes | May 27 2021
Innovation. It’s a big word that’s being thrown around a lot lately – but what does it really mean? At Applied, we define innovation as the combination of technology and services that create choice and flexibility, intelligence and insights, and simplicity and ease of doing business for our customers.
Why Innovate Now
For decades, the insurance industry has historically been riddled with paper-driven, manual processes, often creating inefficient workflows and poor customer experiences. And then, almost overnight, the pandemic changed everything. For many agencies and carriers, the pandemic amplified inefficiencies in their existing business, forcing them to take a hard look at their processes and the technologies that underlie them. In fact, the adoption of new technology, driven by remote working, grew at a tremendous rate – with years of digital catch-up happening in mere months.
Demand for intelligent insights has fueled a new data obsession as agencies and carriers look for ways to be more competitive. Additionally, customer expectations have changed – with big tech players like Amazon, Uber and Facebook shaping expectations for simple, digital experiences. To stay relevant, agencies and carriers must offer the digital experiences its customers are accustomed to, or else risk losing that business to another that has invested to create simpler, more convenient experiences.
In this rapidly changing environment, the insurance ecosystem must embrace technology like never before to become more productive, intelligent, simple and valuable. At Applied, we empower agents and carriers to break out of their broken processes and poor customer experiences to create simple, online interactions. We are unleashing access to data in new ways so that agencies and carriers can consume powerful insights that help them be more competitive and more valuable to their customers.
Our goal — our rally cry — our driving purpose: to become the INDISPENSABLE technology partner to our customers.
And innovation doesn’t stop with technology and products. This year, not only are we transforming our product portfolio to provide choice and flexibility, intelligence, and simplicity. We are also bringing the lens of innovation to how we sell, service and support, and partner with our customers to put their needs first. As we like to say, when our customers win, we win.
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Tags: Commentary , Applied Systems , Trends , Taylor Rhodes , Innovation