Vegas!! Well, Vegas was a blast and being part of the ITC conference was an experience. Hands down the most exciting conference I have been to. From actual puppies to a robot dog, it had it all. Meeting new people and making new connections, the highlight for me was dinner at the Bellagio (Thanks Reserv) in front of the fountains (and of course the insurance highlights!) During my time at ITC vegas, there was a discussion around ‘Cracking the Code: What Insurtech Buyers Really Want’ which resonates with me and my colleagues at distriBind (for obvious reasons).
The panel touched on pricing models, sales strategies, and product features (e.g., AI capabilities) which is a massive part of the process, but what I think matters the most is how each prospect is different, with different needs (requirements), but also, how each prospect requires a certain amount of ‘love’. What this means is, some prospects know exactly what they want, but some want us, the vendor to guide them through the process.
At distriBind we like to use consultative approach, not because we’re going to come into your business and tell you what’s wrong with everything, but within DA, there are multiple departments and silos that operate the DA, from technical, operations, underwriting, finance and many more. Therefore, understanding each ‘part’ of the process is essential to understanding the whole challenge, not a ‘DA’ challenge.
I’ve been in and around DA for over 10 years, starting on the processing side, handling the BDX to then moving to the vendor side, because, let’s be frank, trying to pull data from a spreadsheet is a tedious task. I was dead set on trying to help everyone else get insightful information from the thousands of BDX flying about. That’s why I think it is so important to understand the business, rather than just understanding the files being received.
From the BDX data, there are many departments that need to absorb that information, so going forward the right decisions can be made for future growth and scalability. At distriBind, we like to break down the process from receiving the data, understanding what you want to get out of that data, and what might be wrong with that data to ensure that the data can then be used in an insightful manner. The consultant approach works for us by utilising my experience and knowledge, alongside my colleagues, to really focus on the needs of each prospect we work with.
If this resonates with you, I would love to meet you and have a chat (disclaimer; no salesy set of slides will be used, promise), over coffee, beers, wine or all three!
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