Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Page 11
Page 12
Page 13
Page 14
Page 15
Page 16
Page 17
Page 18
Page 19
Page 20
Page 21
Page 22
Page 23
Page 24
Page 25
Page 26
Page 27
Page 28
Page 29
Page 30
Page 31
Page 32
Page 33
Page 34
Page 35
Page 36
Sprix1bg2012INMagazine5Ix1bsightsbyCharlx13sm.Chax1ax1bx13ssChuckChax1ax1bx13ssisprx13sidx13x1btax1bdCeox1cfnAmIC.Yx1cucax1bcx1cx1btacthix1aatcchax1ax1bx13ssx1bax1aic.x1crg.ABraveNewWorldIknowthatix12IasktheCEOox12anyNAMICmembercompanywhattheirmostimportantprojecthasbeeninthepastfveyearsIamlikelytohearthestoryox12asuccessx12ulordisappointingimplementationox12anewsystem.Pickupanyinsurance-industrytradepublicationandyouaresuretoseeatleastonearticleonthetopic.Thereisevenamonthlypublicationthatcoversonlyinsuranceandtechnologycoincidentallythatisthenameothemagazine.AndinthisissueoINmagazinewepeelbackthelayersotechnologyinourindustry.Manypropertycasualtyinsurancecompanieshavebeenusingautomatedprocessessincecomputerswerex3rstintroduced.Asyouwillreadinsomeotheollowingarticlesinsurersareeitherinthethroesoreplacingtheirlegacysystemsorrollingoutnewandimprovedsystemsthatprocessworkasterbetterandmoreex2ciently.Weareinthemiddleoabravenewworld.Onceuponatimehowevertherewerealotowatercoolerconversationsabouthowtechnologywouldresultinlostindustriestravelagenciesandstockbrokeragex3rmsamongthem.Itx19scalleddisintermediationabuzzwordthatcameaboutattheendothelastcenturywhentheInternetwasnewandsomewhatrighteningassometechnologygurusweresayingthatthistechnologicaladvancementwouldeliminatethetransactionalmiddleman.Fastorward10orsoyearsandsuretechnologyhasstreamlinedcertainindustriesbutithasnx19tcausedthemtobecomeextinct.Itsex1ectactuallyissimilartothetheoryosurvivalothex3ttestx13thosewhoarededicatedthosewhoaddvalueandproducewillsurvive.Lookingbackthroughhistoryweseetechnologicalchangeswitheacherax13thetelephonereplacedthetelegraphtelevisionreplacedradiowordprocessorsreplacedtypewriterstapesreplacedalbumsCDsreplacedtapesmp3playersreplacedCDs.Eachtimeonetechnologyreplacedanotheritdidnx19tnecessarilykillanindustryunlessthatindustryreusedtochange.Thereisnodoubtthatinormationtechnologyhasbeenagreatassettothepropertycasualtyinsurancebusinessprocessbutitismyopinionthatthereisnootherinsurancetopicaspronetooverstatementasthisone.YestechnologyhasitsplaceintheinternalworkingsoabusinessbutIdonx19tthinkx1cSirix1dinmyiPhoneisgoingtoreplacehumancontact.WhilestatisticsshowthatautoinsuranceisincreasinglybeingboughtonlineNAMICoundinourownrecentresearchthatonlyaverysmallpercentageodriverspreertobuyonline.Onthefipsidex3vetimesasmanyrespondentstooursurveyrelayedthatpersonalinteractionisakeymotivatorindoingbusinesswithaninsurer.Technologydoesnotx3llthatbasichumanneedorpersonalrelationships.Thenewageoinormationtechnologyishereanditisadvancingbytheminute.Whileourindustrymighthavebeenalittleslowontheuptakewithalltherecentbreakthroughsweareconceptualizingandbuildingnewportalsandmanagementandclaimssystems.Weareusingtechnologythewayitshouldbeusedx13tobetterourcommunitiesoemployeesagentsandpolicyholders.Ourbusinessandinormationtechnologycananddoco-exist.Howeverourbusinesshasalwaysbeenallaboutserviceandrelationshipsevenmoresonowasinsuranceproductsbecomemorepersonalizedandmorecustomercentric.Thismakestheneedorhumaninvolvementandguidancesomuchmoreimportantwhetherthathigh-touchcontactisthroughaphoneconversationaace-to-acemeetingormaybeevenSkype.IN