Miguel Edwards, NACD.DC’s Post

Why do some insurance companies lead, while others lag? It’s all in the approach to modernization. At FiveM, we’ve observed that future-ready companies share a few defining traits: ✅ 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐮𝐬𝐞 𝐨𝐟 𝐝𝐚𝐭𝐚: Leveraging insights to shape decisions, not just track metrics. ✅ 𝐂𝐮𝐬𝐭𝐨𝐦𝐞𝐫-𝐟𝐢𝐫𝐬𝐭 𝐦𝐨𝐝𝐞𝐫𝐧𝐢𝐳𝐚𝐭𝐢𝐨𝐧: Technology is a tool, not the end goal. ✅ 𝐂𝐡𝐚𝐧𝐠𝐞 𝐚𝐝𝐚𝐩𝐭𝐚𝐛𝐢𝐥𝐢𝐭𝐲: Empowering teams to adapt quickly and effectively. These organizations see modernization as more than technology; it’s a commitment to agility, strategy, and innovation. Are you leading the way or following the crowd? #innovation #digitaltransformation #modernization

For over a decade, ReSource Pro has monitored transformation in commercial lines insurance. Amidst last year's economic shifts, talent shortages, climate concerns, and tech advancements, 2024 demands agile, informed decisions from carriers. 🔄 Our latest research reveals a sharp focus on business optimization, influencing carriers' priorities, strategies, and tech investments. Despite this focus, executives are also prioritizing growth in current lines and cost containment, shaping a multi-pronged tech strategy to thrive in a dynamic market. https://lnkd.in/emr_sPTu #InsuranceIndustry #BusinessOptimization #CommercialLines #Innovation #TechnologyInvestment

Fantastic blog post on initivatives driving success in Commercial Lines, Ming Kostuck!

Change is happening faster than ever, and ReSource Pro's annual commercial lines strategic initiatives research uncovers the shifts in what now drives P&C carriers' investments in technology. This includes where small commercial and mid-large converge and diverge on their highest-value problems to solve. #insurtech #insuranceindustry #insurancetechnology #strategy #peopleprocesstechnology Ming Kostuck

Insurers today face the unique challenge of keeping up with the rapid pace of digital transformation and changing consumer demands while being weighed down by legacy systems. That's why we're excited to share our latest blog, 'Modernising Legacy Systems: Seamless Tech Integration Strategies' 👉https://bit.ly/48SnqO4 Dive deep into the critical steps insurers can take to break free from the constraints of outdated infrastructure and pave the way for true innovation. Here are three key takeaways: 1️⃣ Strategic planning and prioritisation: Adopt a phased approach tailored to your needs - acquire software, build a proprietary platform or modernize your existing legacy system. Align tech initiatives with long-term goals. 2️⃣ Fostering a culture of innovation: Go beyond technical infrastructure. Cultivate innovation through leadership support, iterative progress, investment mindset, and structured cultural change. 3️⃣ Seamless integration: Careful planning + thorough testing = smooth implementation. Prioritize business automation, people-centric approaches, optimised operations and performance tracking. Modernising legacy systems is a complex undertaking, but the rewards are immense – increased agility, enhanced customer experiences, and a competitive edge in the digital landscape. Read our blog to uncover more invaluable insights and strategies for pursuing insurance innovation without losing sight of organisational objectives, customer expectations, and market trends 🤔👉https://bit.ly/48SnqO4 #insurance #insurtech #digitaltransformation #Kanopiinsights

Choosing the Right IT Support: Managed Services vs. Break-Fix  Which Approach Suits Your Business? Break-fix IT support has its merits but may not align with your organizational needs. Operating reactively, this model only addresses technology issues when they occur, lacking preventive maintenance. It's akin to driving a car without changing the oil, addressing problems as they emerge. In contrast, Managed Services present a proactive solution with ongoing preventive and on-demand IT support. Analogous to robust insurance for a luxury vehicle, this approach includes regular maintenance and repairs to protect your technology investments. Opting for Managed Services can deliver cost-efficiency for businesses and households, averting potential issues before they develop and offering timely support as required. By embracing a Managed Service plan, you can achieve expenditure predictability and oversight, promoting streamlined and efficient IT operations in the long term. Call 855.808.6920 now for details, or visit DecypherTech.com to learn more. #ManagedITServices #ClientCentric #DecypherTechnologies

Discover how we helped a 𝗹𝗲𝗮𝗱𝗶𝗻𝗴 𝗘𝘂𝗿𝗼𝗽𝗲𝗮𝗻 𝗶𝗻𝘀𝘂𝗿𝗲𝗿 streamline support, cut costs, and enhance efficiency with a groundbreaking dashboard built on low-code technology. 👉 Swipe through to see the impact of this digital transformation! #DigitalTransformation #LowCode #Innovation #InsuranceTech #AdvanceWorks

As a small business owner, adopting the right tech can have transformative potential. Integrating it, though, is often another matter entirely. We'd love to hear your experiences and insights: 🔵 What tech have you found most beneficial? 🔵 Are there specific tools or platforms that have really enhanced your operations? 🔵 What pain points have you encountered when integrating new tech? 🔵 How have you overcome these challenges? Discuss below👇️ Your experiences and strategies could provide valuable insights for those navigating similar challenges. #InsuranceInnovation #Tech #Insurance

As businesses prepare for 2025, uncovering IT cost-saving opportunities today is key to fueling future digital innovation. 🔑 In this FastCompany op-ed, David Keil of Lakeside Software shares insights on how CIOs can identify waste and reinvest in strategic projects to drive growth. 👇 https://lnkd.in/db39d3T4 #ITCostSavings #DigitalTransformation #2025Innovation

Eager to learn how to avoid slow and painful annual planning processes for 2025? Watch now to hear experts at QBE Insurance and Rego Consulting share best practices for gaining deeper insights into your tech investments, balancing short-term needs with long-term goals, and driving flexibility in your operations.