The View From ORBiT

What's in store for 2015
By Wendy Watson, President of ORBiT


 

We here at ORBiT strive to be ahead of the times. Maybe that's why we tackled our New Year's resolutions at our Annual Members' Meeting in November. We reflected on the previous year and then looked ahead to 2015.


 


PRESENTATIONS
View video of Patrick Vice's keynote Patrick Vice, Insurance-Canada shared his tantalizing view of The Next Generation of the Previously Unthinkable. Wow. Patrick walked us from the introduction of the first mainframes, to the current emerging Internet of Things, to what he believes insurance will look like in 2024 (and what brokers need to do to thrive in this future).

Scott Bielby, CGI and John Foreman, TMRC gave us the basics on why brokers really need to be going mobile. Brokerages need to ensure websites are mobile-friendly and extremely responsive to meet the demands of today's mobile users. We learned what mobile is and isn't, plus all the channels we need to consider when developing our communication plan.


SMALL COMMERCIAL LINES
View the results of the NICC 2014 Small Commercial Broker Survey

Clinton D'Souza shared the results of the Small Commercial Lines survey completed by ORBiT members and presented at the National Insurance Conference of Canada (NICC) earlier in the year. Aligned with the Canadian Federation of Independent Business (CFIB) designation of small commercial, it was revealed that this is the largest growing segment of businesses and thus a huge growth opportunity for brokers. Brokers shared their need for Real Time tools to handle the increasing demand of point of sale service from small commercial clients. We see nothing but opportunity here for the broker distribution channel, we just have to grasp it and run with it.

 

 

 

WORKING GROUPS

We recapped the ORBiT Working Groups activities of 2014: their focus, the barriers to implementation they faced, and what needs to happen in 2015.

 
This year, in an effort to give implementation an extra boost, we're focusing on getting more hands into fewer working groups:

  • Digital Client Experience
  • Electronic Signatures
  • Innovation
  • Telematics

Our working groups already have some keen individuals at the starting gate ready to run. However we need more volunteers to ensure a variety of ideas and viewpoints, and more hands to do the work (yes, there is work to do). Brokers, we need you! In only 1hr/month you can make a difference.

  • Learn a lot and add to your skill set
  • Meet great people
  • Influence your industry
  • Enhance your resume
  • Receive training on working with volunteers (yes, it is different than working with paid employees)
  • Feel pride when your work gets implemented

BREAKING THE REAL TIME BARRIERS

A great discussion emerged on why we're so stalled with Real Time. With the notable exceptions of eDocs, inquiry, and a few carriers doing quoting, very little has changed since we've begun in 2008.

 
Why? What are the barriers to progress? What aren't more brokers implementing what is already available to them? And why don't our carrier partners push harder for Real Time?

 
These questions, followed by a great one from our members: 
 

"Would ORBiT kindly organize a session with all stakeholders at the table (brokers, carriers and vendors) to figure how what are the barriers and what it will take to work through them?"


The answer was easy - yes! The session is taking place January 28th with participation from carriers, vendors, brokers and IBAO. We'll share what we come up with in our next newsletter.



YOUR 2015 TO-DO LIST

And so we usher in the New Year with renewed goals and ambition. Please join us and make this a great year of progress:

  • Be a champion of Real Time in your office
  • Join an ORBiT Working Group. Tell us which group speaks to you
  • Take advantage of the Real Time workflows already offered by your BMS and carriers! Implement them today! Not sure what's available? Ask us; we're here to help
  • Tell us your success story and we'll share it. You deserve credit for leading the Real Time charge!

 

Ask Watson

IBM WEBINAR

Is cognitive computing a game changer for insurers?
Ask Watson.

 

REGISTER HERE

Tuesday, February 3, 2015

11 a.m. EST/ 4 p.m. GMT

 

Are you ready to create history? And transform your business in the process?

 

On February 3, meet IBM Watson, insurance industry game-changer. IBM Watson is ushering in a new era of cognitive computing, in which virtual advisors interact seamlessly with consumers and agents - learning by experience, making better judgments and getting smarter over time.

 

To stay competitive, today's insurers must give customers a personalized, consistent experience, every time. To become the partner of choice, they must empower agents across the enterprise with the right information and resources to take products successfully to market.

 

Enter IBM Watson - a cognitive assistant that learns and understands natural language, just like humans. Join us, and we'll talk about what Watson can do for you!

  • Learn how cognitive computing is transforming the insurance industry by providing better and more effective service to more customers.
  • Discover how IBM Watson can help you reach the next level of customer engagement - and beyond.
  • Hear about the innovators in the insurance industry who are already using Watson's transformative power - and how you can get the same benefits.

 

Insurance-Canada Technology Conference

Join us at the Insurance-Canada Technology Conference where we will be moderating the Broker Marketing Emerges Again panel.

 

 
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