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Ice Picking Frozen Money in the Insurance Industry

by | November 9, 2018

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In today’s episode of Agents Intelligence, host Jason Cass interviews Wessly Anderson, CTO of Agency VA. Jason and Wessly discuss innovation and transformation in the insurance industry ranging from new data solutions to new agency strategies.

Show Notes:

  • Introduction of Guest, Wessly Anderson–CTO.
  • Wessly is an android user but likes the ipad
  • Success is a combo of skill and luck
  • Wessly knew from a young age that he didn’t want to follow his father’s industry
  • Wessly entered insurance to be able to innovate with his tech skills.
  • With two agencies, Wessly A/B tested his agency in California against his agency in Utah.
  • There is nothing to be afraid of in insurance right now.
  • Wessly always answers his agency problems with technology
  • Wessly doesn´t make decisions based on what he thinks or feels. He makes decisions on the data.
  • Automation that complements the human experience is insurance of the future
  • Efficient means you are doing same with less while productive means doing more with the same.
  • Automation: don’t be fearful
  • Tech is sprinting while insurance is on a bicycle
  • Insurance needs to get to a Minimum viable product–release a beta test. Get something out there.
  • Transformation is eminent within insurance and it is based on the behavior of our customers
  • If you are not adapting, somebody will
  • Delegate to elevate

3 Key Points:

  1.  Insurance typically lags behind other industries when it comes to technology.
  2.  Many insurance agencies shy away from data. Data is the path of the insurance future.
  3.  Automation will not replace agents but rather complement them.

Key Quotes:

    “Success is a combo of skill and luck” – Wessly Anderson
    “I don’t make decisions based on what I think or feel. I make decisions on the data.” – Wessly Anderson
   “I don´t know who created this or that. This or that doesn´t work. It is about This and that.” – Wessly Anderson
   “Efficient means you are doing same with less while productive means doing more with the same.” – Wessly Anderson
   “Transformation is eminent within insurance and it is based on the behavior of our customers” – Wessly Anderson

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