I can’t believe that it’s been nearly 4 weeks since my in-market visit with Global Business Innovation Programme… I find myself reflecting on a deep dive into the heart of the US insurance market – Connecticut, where I could represent distriBind at the InsurTech Hartford Symposium. It was an unparalleled experience, offering me a unique opportunity to engage with industry experts, carriers, MGAs, and brokers, and gain invaluable insights into their pain points surrounding program business.
One resounding challenge echoed throughout my conversations: the pervasive use of costly, archaic spreadsheet-based data exchange methods and the consequent lack of data visibility. It became evident that these outdated practices were stifling innovation and impeding progress within the industry.
But, not all is lost, and that’s why I am extremely proud to work for distriBind.
Our platform is designed to eliminate the friction between insurance business partners, with flexibility as our flagship feature. We firmly believe that systems should possess the ability to seamlessly process data in any format, ensuring smooth communication and operation for all stakeholders involved.
Our mission is bold and clear: we are curing the insurance of its spreadsheet addiction, and usher an era of a bordereaux-free world where data flows freely in real-time through APIs. And it's not just us; most of the market agrees. In fact, industry experts and practitioners have expressed a strong preference for API-based data transmission, particularly with policy-level data, within the next 3-5 years (Lloyds 2022).
However, we understand that change doesn't happen overnight. That's why distriBind is uniquely positioned to support common bordereaux’s formats today, while simultaneously paving the way for a future without spreadsheets. With our suite of APIs, we have the power to eliminate spreadsheet dependency for our clients, offering them a glimpse into a more efficient and streamlined future.
So, to all the spreadsheet addicts out there, fear not - relief is on the horizon. And to the US insurance market, brace yourselves! - distriBind is gearing up to revolutionize the way you do business. Don't settle for less! Join us on this journey towards a brighter, API-driven future. We're coming for you, and together, we'll break down barriers and transform the program business for the better.
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