Many professions and industries today are facing unprecedented change and headwinds. The pressure to better serve customers and move up the value chain is only intensifying post COVID-19. Insurance included.
When it comes to innovation, the industry chatter alone is deafening. The endless conferences, articles and innovation officer titles might lead one to think that “Ours is not an industry that respects tradition – it only respects innovation” (Microsoft CEO Satya Nadella). In fact, for certain industries the opposite is often true.
Take insurtech for example. The fever surrounding insurtech seems to overshadow growth and customer engagement opportunities on the commercial side. Insuretech used to be customer facing instead of back office focused according to former AIG executive Ty Sagalow. Meaning “back in the day” it used to be about “improving the customer experience” rather than today’s fundamental shift to “trying to improve AIG’s bottom line”.
In this era of compressed cycles, it’s time for insurers to choose between customer experience and bottom line expense savings. Yet are the two mutually exclusive? I contend not. If done right, investing in better customer experience will increase both profits and savings.
In my mind, what got us here won’t get us there, or as hockey great Wayne Gretzky so aptly put it: “skate to where the puck is going to be, not where it’s been.”
A digital marketplace and business development platform from DealRockit makes this process much easier. The company’s multi-marketplace, customer engagement software, optimizes customer experience and business inclusion, making it simpler to scale and fund innovation as a way to overcome past inequities. Platforms like DealRockit will prove invaluable for insurance efforts post COVID-19, as carriers, wholesalers, agencies, and customers strategize about how to grow business and inclusion together past the pandemic.
At DealRockit, we believe the best way to grow carrier revenue, influence, and engagement is to begin with the constituency directly in front of you: your ecosystem. That requires starting with the agencies, employees, and customers you have in place before honing in on prospects.
No doubt carriers must focus on claims, costs and how these critical factors tie to better customer experience and lost margin. However, we’ve found, regardless of industry or profession, that the small business customer wants the best of technology and human experience whether buying insurance, accounting, financial, or wealth management services. This bodes well for advisors and ecosystem investing – seemingly overlooked by many today.
Access and Opportunity Reinvented.
Going in, we identified industry pain points and recognized that people, companies, and decision-makers don’t know what they want until they can see it and test it. As Henry Ford said: “If I’d asked customers what they wanted, they would have told me, ‘A faster horse!'”. Decades later Steve Jobs famously stated: “Our job is to figure out what they’re going to want before they do” and then show them the finished product.
We’ve done that at DealRockit. Much like the minivan and iPod, people did not go to bed at night thinking I wish I had a minivan or iPod, but rather, when they saw DealRockit, they recognized the need and wanted in immediately.
Membership Supports You and Those Who Rely on You
That’s why we created a digital marketplace and business development platform that allows carriers and producers to align interests and create added value for the customer and society as a whole. Well before COVID-19, we envisioned a digital world where firms can rapidly accelerate growth, business inclusion and customer experience without having to leave homes or offices. DealRockit’s first of its kind digital ecosystem “levels the playing field” and offers a simpler and more efficient means to cultivate vital business relationships and solve big problems fast.
DealRockit is more than a capital matching, transaction platform. Built to change the playing field and leave competitors behind, DealRockit is a comprehensive customer engagement, business development solution that combines the best of innovative technology with human experience. Our proprietary marketplaces, matching, and membership features provide unprecedented access and opportunity not available elsewhere, making carriers and the businesses/customers they invite more transactional, engaged, and loyal.
Powerful Growth Engine Pulling Others with It
DealRockit makes a traditionally complex process fast, simple, affordable, and even fun by bringing its members together through six marketplaces, two matching platforms, and 5 levels of paid and invited membership. What once took months or years can now be done in seconds using DealRockit’s proprietary My Matches, Advanced Match, and digital capabilities.
In the age of social media and date matching websites, people are used to having information and connections at their fingertips in seconds. We do the same at DealRockit through our two matching platforms.
Creates Virtuous Cycles Where Everyone Wins
In the race to deliver the best digital customer experiences and accelerate growth, insurers must invest in their ecosystem to elevate others and elevate themselves. In an era of compressed cycles, DealRockit is ready-made, fast and does all the hard work for you. Built for a digital world where firms can rapidly accelerate growth and customer experience without having to leave homes or offices, DealRockit is a tool for insurers to be a force for good, an innovator and a rainmaker all on one platform. The DealRockit platform combines a mix of decision optimization software and engagement technology to ROCKiT user experience and results.
In the current economy, all of us — individuals and businesses alike — are looking for a new way forward, a solution to the challenges of the current crisis. Perhaps the silver lining to this crisis will be how insurers and producers deploy a new collaboration model using DealRockit’s proprietary ecosystem investing. After the pandemic wanes, this type of connectivity will prove essential for big and small business players alike, as carriers strive for revenue and innovation while also pushing to become forces for good.
While we work through the current uncertainty of the COVID-19 pandemic, we want to continue to drive business and economic growth. Deploying DealRockit’s ecosystem investing technology, will put insurance carriers at the forefront of a global movement that transforms and grows their business and helps solve the greatest crisis of a generation.