Technology: Disruption or Opportunity?

Over my 30-plus year career in the commercial insurance industry, I’ve seen some massive changes but also a significant amount of things staying exactly the way they have been for decades.

Those two things happening simultaneously is a sure sign that significant winners and losers will soon follow.

But perhaps the two largest shifts in the business are:

  1. – Consolidation: Where larger firms “buy” growth by absorbing smaller firms, and
  1. – Technology: Where shops decide to “keep doing things the same way” or they adopt new methods and processes centered around systems and data mining.

Now, before we go any farther, I will tell you that when it comes to technology, my self-proclaimed nickname is “Low-tech Lujan.” But the truth is, I know that technology is a game changer that we should all be paying attention to.

Don’t believe me?

Consolidation is only a short-term fix.  Eventually, firms of all sizes will need to get back to basics and re-learn how to develop organic growth.

Without the skills of organic growth coupled with technology, companies will face dire consequences, including significant loss of staff.  And when that happens, service will most certainly suffer, leading to the agency death spiral I have discussed before.

But for those agencies that embrace technological change, if applied correctly, they can uncover vast amounts of time and productivity hidden inside old methods and tired procedures.

So how do you know the right way to integrate technology? And more importantly, how do you make sure that technology works for you instead it replacing you?

First – Technology is here to stay. As digital communication get more and more personalized, firms that do not fully embrace technology and data mining will fall deeply behind.

Second – Responsiveness with speed and accuracy, that only technology can provide, is what clients now require.  Any hesitation in regard to knowing the client (or the perception of client knowledge) will be devastating, leaving a client to look for a higher level of service.

Third – As traditional data mining turns into artificial intelligence, the capacity for high-touch customer response is truly limitless.

But most of all…. I believe that we can have the best of both worlds.

The firms that can marry the latest digital capabilities with a well-trained, personal producer team is the firm that will win.  After all, the brain processes logic and analysis in one area, and yet makes decisions in another.  If you are only selling to the logic side, you are commoditizing yourself.

Those who can master relation-driven expertise and mastery will win every time.

How do I know? That is exactly what allowed me to quadruple my business in just three years’ time.

So where are you in the process of engineering for the future?  Ahead of the pack? Lost in the middle? Or hanging on to how you have functioned for 30-plus years?

I get it.  Change is hard.  That is why I recommend working with someone who has been there, done that, and understands the challenge of exponentially scaling your book of business.

I invite you to set up a free, no-obligation strategy call about how to best catapult your business forward. Set up your strategy session today, here.



The Elevation180 program is a premier sales coaching program with proven results. Born out of a 30-year career as a top producer in the commercial insurance industry, Jerry Lujan has developed a series of leading-edge sales tools that allow you to double, or even triple, your business while working far less. If you are tired and out of ideas to get the results you want, reach out to Jerry at Every producer in the program had their best year ever in 2014 and 2015—including producers with less than 3 years in, as well as 20+ year veterans. Let’s find what works for your book of business.

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