I saw it begin to evolve firsthand several years ago. I managed vendor relationships for a top 3 carrier for over 12 years and I was entrenched in the risk adverse culture of the insurance industry. Decisions were made with data…a lot of data…and they were only made in small moving parts, so as not to upset other small moving parts. Yet, uncontrollable industry changes were happening all around us and it was too late to catch up. I witnessed once thriving, global independent adjusting firms begin to struggle with the imminent reality of sudden change. They were blinded by an old reality that the insurance industry changes at a glacial pace and they simply did what they were instructed to do for decades. Change came in small forms and often failed, reverting to old traditional ways. What they neglected to see is that change was uncontrollable by even the industry pioneers. This change was being forced by the consumer; for once, the consumer had a voice in how they wanted to buy their product. However, the most important change they were demanding is how they wanted their product to be serviced.
Over time these large, powerful independent adjusting firms fell further and further behind the change. They failed to invest in growth and technology, and the insurance companies were only pulling one lever; the market price attraction lever. They had to be competitive and they had to market a product at competitive prices. In doing so, they began to discover ways to reduce expenses and how to best utilize their captured staff, all while getting to their customers faster. The independent adjusting firms were forced to reduce their expenses as volume and fees began to tumble. With their reduced fee schedules and higher expectations, they were suddenly unable to deliver on a faster, friendlier, and more accurate service.
I have known Seek Now since its inception as Ladder Now in 2012. In fact, I managed the vendor contracts when the now CEO, Russ Carroll, called out of the blue and requested a meeting. I gave this brand-new company a chance…because they had the vision and a plan to be something different. They wanted to help change the insurance industry for the better.
What was their plan, you ask? To get in front of as many people in the industry as possible and convince them of the needed change. Little did they know, the consumer would be the one to tip the final domino.
Seek Now figured it out. We figured out how to be the end-to-end solution for any insurance carrier. We invested in technology early, regularly developing systems and solutions that were not quite ready to get out in the world. It was an enormous gamble, brought on by exceptional vision. While it took nearly 5 years to build, we have the only smart routing resource platform servicing the industry…and the technology evolves, changes, and gets better every day. Seek Now figured out how to deliver service faster, friendlier, and more accurate. We understand how to manage significant increases in volume and how to scale, utilizing our proprietary technology. The strategic vision that set sail years ago is finally finding its way into smoother water…in the front of the pack.
SVP, Insurance Product & Strategy