You know your business needs to modernize, adapt, and become more nimble. You also know the horror stories of in-house transformations gone sideways. Over timeline, over budget, off the rails. That’s why finding the right SaaS partner to support your growth is such a smart move — but does everyone at your company see the positives?
You’ve got strategy teams who plan, technical teams who execute, and there’s the leaders and decision makers who try to build consensus about the smartest path forward.
This month’s article is for the consensus builders. Now that you’re sure about how to move your company into the future, here are some tips and topics to help get stakeholders on board.
Tackling Your Team’s Top Questions About Partnering With Bestow
During the pitch process, we often hear, “I like it, but team X is concerned about Y.” Your colleagues are right to ask questions, and we’ve heard them all.
Tech leads want to protect their teams. Customer service leads want to do the same. And then there are logistical questions, as well. Rest assured, Bestow is a partner, not a replacement. We work with your existing teams and cater to their unique concerns.
We’re happy to meet with any stakeholders, but if they come knocking on your door, here’s some helpful information to quell concerns and keep the ball moving.
For your on-the-fence Tech lead: Bestow’s tech will eliminate the need for your team to maintain and update legacy systems, which will save the company time and resources. Additionally, with regular feature updates and support from the SaaS provider, your team can focus on more critical projects and business objectives.
For the bottom-liners in finance: Leveraging Bestow’s proven, existing tech means not paying to develop an in-house solution from scratch. That means moving exponentially faster toward reducing costs associated with maintaining and updating your current system, which will ultimately lead to increased profits. Furthermore, the platform allows carriers to become more nimble, responding to changing markets at speed and scaling up just as quickly.
For the Marketer always asking what’s new: Bestow Data Solutions provides sophisticated data and analytics that can help carriers identify new customers and better understand existing customers. From personalized policy recommendations to automated underwriting, the platform will enhance customer experience and provide a competitive advantage in the market.
For Distribution: Whether it's in person, over the phone or via SMS/text links, providing flexible ways for agents to help their clients complete a simpler application is half the battle. The streamlined application and underwriting process leads to better experiences for more clients, increased policy sales and faster commission. The platform also provides insights and analytics that can help agents identify and pursue more qualified leads, resulting in higher conversion rates and revenue.
For the Customer Service department: Self-service options and digital tools reduce customer friction and improve their overall experience. The customer service admin portal allows for more seamless case management. Additionally, the platform's real-time data and analytics can help customer service teams respond to inquiries and claims more quickly and accurately.
In the end, you want everyone to feel heard and confident about the decision that is made. We encourage carriers to compare us to the competition - and if you’re looking at another solution, give us a call and we’ll show you how we stack up. We want you to feel confident, too.
Q & A with Tyler Blake, Lead Product Manager
Q: What’s a realistic timeline for implementation?
A: A frustrating industry secret I learned early in my career was the “2-3-4 formula” of technical insurance product implementations: Take estimates from a vendor, cut expectations in half, triple costs, and quadruple timelines. In other words, prepare to be disappointed.
Bestow make these challenges a thing of the past. We always start and finish with working software. We deliver and demo incremental value on a weekly basis — the first iteration of a product is usually implemented in a matter of weeks. Our teams are committed to delivering the right things very quickly to ensure that our partners maximize business value and can deliver on their transformational needs.
We’d love to meet in person. If you’re attending any of the following events and would like more information about Bestow’s SaaS and Marketing technology solutions, contact [email protected].
AHOU Conference, Hollywood, Florida
Underwriting Innovation Manager David Peters
Insurance Innovators USA, Nashville, TN
Senior Manager, Revenue Strategy & Operations Michael Siegel