Industry Trends | Read Time: 3 Minutes

The Digital Future of Insurance Is Now

March 11, 2021

By: Taylor Rhodes

The COVID-19 pandemic has impacted industries, economies, relationships, and work environments around the world. Virtually overnight, it forced us to change the way we interact with those around us. Social distancing pushed workforces into remote operations and for many agencies, amplified inefficiencies in their existing business processes.

For many, temporary fixes helped overcome short-term challenges, but now more than ever, there is a unique opportunity for agencies to make long-term moves and prepare their businesses and customers for the digital future of insurance.

The Road to Change

In this new reality, how do you accelerate your journey to the digital future? How can you use the COVID-19 crisis to become a more resilient agency and emerge as a stronger, more valuable business? While most of us would like to delete 2020 and move on, why not reframe it as the year you finally got serious about the digital changes you need to make?

By investing in your digital future now, you’ll:

  • Build stronger bonds with your customers
  • Equip employees with the tools they need to work more intelligently and productively
  • Build more resilience and value into your business

Today’s winning agency must offer the digital experiences its customers are accustomed to, or else it risks losing that business to another that has invested to create simpler, more convenient experiences. Technology can lower your overall cost of growing and operating your company, making your business more profitable and valuable – and the numbers prove this out in big ways.

higher revenue per employee realized by complete digital agencies1

reduction in IT costs and increase in operations productivity2

  • 1Applied Digital Agency Annual Report, Applied Systems, 2020.
  • 2Digital disruption in insurance: Cutting through the noise, McKinsey, 2017.

“When you stop growing, you start dying.”
— William S. Burroughs

Becoming a More Productive, Intelligent, Simple and Valuable Business

As we walk this digital path forward, consider technology that delivers productivity, intelligence, simplicity and value, including:

  • Integrated automation across all agency roles, from the back office to the front office
  • Simple, end-to-end digital interactions with your customers – from application and policy binding, to servicing and back to renewals
  • Connectivity across the insurance ecosystem that empowers agencies and insurers to perform better together
  • Intelligence that helps you grow your business more efficiently by turning data into actionable insights

“The future starts today, not tomorrow.”
— Pope John Paul II

The Time for Change Is Now

The insurance industry is a unique community of great people with a strong mission to safeguard and protect what matters most. It’s up to us to put lives back together, restart businesses, rebuild communities, and make new realities – guided by technology. Working together, we can make the change of yesterday an opportunity today for a stronger tomorrow.

Download The Digital Future of Insurance Is Now eBook for specific examples of technology that can optimize your operations and provide an exceptional customer experience.

Taylor Rhodes

Taylor Rhodes, Chief Executive Officer, leads Team Applied and is responsible for the company's overall strategy and operational execution. Rhodes joined Applied in 2019 after serving as chief executive officer of SMS Assist, the leading cloud-based software platform for multi-site property management. Previously, he was CEO of Rackspace, where he led the company's growth from a cloud pioneer to an industry leader with more than two billion dollars in revenue, while establishing the company as a mainstay on the Fortune 100 Best Companies to Work For. Prior to Rackspace, he served as a leader in enterprise, financial and corporate strategy roles at Electronic Data Systems Corporation. Mr. Rhodes is a former United States Marine Corps infantry officer and holds a MBA from the University of North Carolina at Chapel Hill. He serves on the board of directors for Applied, Zenoss and Liquid Web, LLC.