058: Futureproofing your Business: The Importance of Agility in Broking – with Sean Neal

Whether you’re a generalist or working within a niche scheme, making your name in the industry in our current economic climate will be an uphill battle. How can you futureproof your business in light of these conditions? In what ways can you increase the agility of your output? How will big tech and big data affect the industry in years to come? In this episode, we speak with SchemeServe’s Sean Neal, discussing how new independent brokers can benefit from insurance tech and its importance for the future of the industry.

 

Quote of the Episode:

“Insurance is a people business. It has been a people business for years, hundreds of years. And it will continue to be so; the technology will just help us with that journey… whether it’s a virtual, face-to-face thing, or a physical one.”

 

SchemeServe’s Sean Neal emphasizes that the insurance industry is ultimately always underpinned by personal connections between customers, brokers and insurers. Irrespective of what technological advancements may unfold in years to come, this will always remain the central principle of the industry. When developing your business, you should endeavour to ensure that personal connections with your customers are always at the forefront of every interaction, which new technology can often facilitate when in-person contact is troublesome or unavailable.

 

Key Takeaways

SaaS platforms such as SchemeServe will soon become paramount to the functioning of the industry in an increasingly digitised market, which has only been accelerated by COVID-19 and the advancement of remote work. For new independent brokers seeking to develop their services and cement their place in the market, such services may prove paramount to their future, as long as personal relationships with customers continue to be facilitated, either through virtual or in-person contact.

 

In order to compete with other brokers and companies harvesting big data, ensuring agility in the deliverance of your services is important. This, in conjunction with cultivating a close personal relationship with customers will prove fruitful in continuing contracts and developing new ones. Scheme-type contracts may prove highly beneficial for your business in this regard.

 

Technological development will continue to race ahead throughout the decade. Therefore, it is important to futureproof your business against the advancements of big tech, which cloud-based services such as that offered by SchemeServe may prove fruitful for. Implementing such new technologies into the functioning of your business will increase its agility and allow you to compete irrespective of its niche or generalist nature.

 

Resources

Mentioned in this episode: How to Fail with Elizabeth Day, S04 E04 with Mo Gawdat, former Google X Chief Business Officer.

 

SchemeServe’s website: https://www.schemeserve.com/

 

Sean Neal’s LinkedIn Profile: https://uk.linkedin.com/in/seanneal1 

 

About The Guest

Having previously spent 30 years broking, 16 of which were spent developing Property Protector, Sean Neal briefly became a consultant for various MGAs and brokers. One of his consultees was SchemeServe, a well-renowned SaaS platform for insurance businesses, of which he had previously been a customer. Soon thereafter, he was appointed as Chief Commercial Officer and Commercial Director.

 

About the Host

Sarah Myerscough is the Sales and Marketing Director of Boston Tullis Group. The founder of The Insurance Brokers Podcast, she brings a wealth of marketing experience and a fresh perspective on marketing in the insurance sector. Boston Tullis works with insurance brokers to offer solutions to business development ceilings, particularly in the rapidly developing fields of video marketing and thought leadership.

If you would like Sarah to help you develop an integrated marketing strategy, using state of the art concepts, then please book a free 20 min call via Calendly 

 

Website: https://bostontullis.co.uk/

Evaluation Link: https://s.bostontullis.co.uk/s/podcastevaluation