068: How data and technology is redefining the customer journey with Andrew Yates

Over the last ten years, the insurance industry has been utterly transformed by an array of technological advancements, but perhaps most profoundly by the amassing of publicly available digital data. It has quickly become apparent that such information can drive business intelligence, which can subsequently drive customer engagement, which in turn drives sales growth. Are you interested in the potential of data collection, analysis, and interpretation for your own business, but unsure of where to start?

In this episode, we’re excited to be speaking with Andrew Yates, Founder and CEO of Artesian, a business intelligence software provider. In conversation with Boston Tullis’ Sarah Myerscough, he explains how data has redefined the buying cycle, the selling cycle, the customer journey, and customer expectations. It is this latter element which recurs throughout the episode, as Andrew explains how businesses must adapt to fulfil constantly evolving customer expectations in light of an increasingly digitised world.

 

Quote of the Episode

“We've got to be knowledgeable about our customer, we've got to anticipate their need, and we've got to be ready to guide them, but at the same time, there will still value in that interaction if we get that right… there's still no substitute for, you know, getting to know your customer and getting it right.”

Despite his role as a leading digital business intelligence provider, Andrew Yates remains certain that a carefully designed and unique customer journey is essential for maintaining and boosting your sales. He advocates the utilisation of technology for learning all that you can about your potential customer, in order to immediately solidify your reputation as a well-researched and trustworthy business partner. Andrew argues that, given the development of social media and a breadth of online data providers, it is a fundamental expectation of all customers that you should be well-informed about them before even meeting them. Thus, he suggests that using the available technology to acquire and interpret such information is not only time-saving, but can also accelerate your sales.

 

Key Takeaways

Andrew suggests that the time for data conglomeration software such as that provided by Artesian isn’t in the future – it’s right now. Not only does this technology save time, but it also assists you in fulfilling the expectations of your current or potential customers. Therefore, in order to compete in the market, this type of data collection and interpretation will soon become vital.

However, when you accumulate data, it needs to be carefully condensed and purified. Andrew compares it to crude oil, which only becomes truly valuable once it has been refined. This type of process is offered by services such as Artesian, which will become increasingly efficient in identifying important areas of consideration when forming new customer relationships in years to come. Andrew suggests that this data can become almost predictive, enabling brokers to be well-informed about companies or clients which will soon need to update their insurance, and act accordingly in a manner advantageous to both parties.

Furthermore, this technology is easily accessible for an array of businesses, regardless of size or scope. Everyone can take advantage of it, and indeed, it will most likely become standard procedure across many industries over the next decade.

 

Best Moments/Key Quotes

“I expect someone that's trying to sell me a product or a service to have done the research on my company or me. I just expect that now… This is the now, it's not the future… you've got to kind of get with it.”

“I remember having a conversation with a gentleman, and he was what you’d call an old school broker. I remember him getting really upset with me about this idea… He said, “We don’t need to do research, we just build relationships.” And of course, he was right. But the beauty of what we do, and how simple we make that and how we make that work on an iPhone, is that anyone can take advantage of it. So, if you’re running a successful regional, even dare I say, kind of lifestyle business, this is for you.”

 

Resources

https://artesian.co/

 

Insurance Insider article about the Superscript-Amazon partnership: https://www.insuranceinsider.com/article/2942huwbmlq6oncnfbpc0/amazon-teams-up-with-superscript-to-offer-insurance-to-uk-smes

Artesian-DueDil Merger Announcement: https://artesian.co/artesian-duedil-merger/

 

About the Guest

Andrew Yates is the Founder and CEO of Artesian, a sales intelligence solutions provider. The company recently merged with DueDil, a business intelligence platform focused on SME onboarding. He previously worked for Cognos, also a business intelligence software company which now a part of IBM.

Andrew Yates’ LinkedIn Profile: https://uk.linkedin.com/in/apgyates 

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