Why carriers choose Bestow as their technology partner
Most alternatives in the market are either legacy systems or stitched-together point solutions — neither of which delivers the unified experience carriers and their customers need. Bestow is built on modern, cloud-native architecture, and brings deep insurance expertise across actuarial, underwriting, and operations alongside its technology. That combination of a purpose-built platform and a consultative approach is what sets Bestow apart from vendors that simply hand over software and walk away.
Paul Rasmussen: We recognize we’re not the only people trying to solve these problems. So why do carriers come to Bestow?
Jonathan Abelmann: When you look at other options out there, you can stitch together an offering but as we know, a kind of stitched together offering does not work as a single, unified offering. For the first time, everything comes together which gives a much better customer experience, a much better kind of insight into your business and control over your business.
Jeremy Bill: Bestow truly is a modern technology, whereas a lot of the other alternatives that are out there, they are built on legacy technology that makes it a lot harder to integrate with other systems, so it’s not even really an apples to apples comparison.
Jonathan Abelmann: And you see that by virtue of costs, integration challenges, update challenges, difficulty incorporating new technologies and new software.
Paul Rasmussen: We’re building with the best software design and the most modern cloud-based architecture you could imagine, so that we’re a scalable solution that’s not going to break when you want to make a change.
Melbourne O’Banion: When we set out to build Bestow, from the very beginning we said in a highly regulated industry, you need a deep bench of talent.
Paul Rasmussen: We bring not only technology professionals and people that are really good at strategy and growth, but also people that are really deep in actuarial and underwriting and insurance operations to help you as a carrier team to understand what we’ve seen and how that might be applicable to your own business.
Shannon Ray: As I’ve worked with partners, one of the things that I’ve come to realize is quite often when they work with competitors, that competitor will spend a lot of the discovery time learning about life insurance instead of learning about the needs of that partner.
Jeremy Bill: It’s interesting because one of the things that makes Bestow unique is that we are really a partner and not just a vendor.
Melbourne O’Banion: Our view is that we wanted to be consultative, we want to be strategic because the needs of each one of our enterprise partners are different. They have different product requirements, they have different distribution channels, they have different demographics that they’re marketing to. And we’re not providing a single solution such as an application, or underwriting, or TPA services and so that’s really where we find alignment with our enterprise partners is those who are saying we want something different, we want something unique, we want to outperform, and then we say alright, let us help deliver that to you.
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