Understanding the Insurance Buyer’s Mindset ● Senior Executive Staff care about keeping the combined ratio under 100. They are ones that ride the Combined Ratio Seesaw daily. When proposals are put in front of them, if the proposal can showcase how the project will impact the combined ratio, it is more likely to be approved. As projects are implemented and start developing results, tying those results back to the combined ratio will put results in front of senior management in a context that senior managers care about. ● CIOs Care About : System modernization, data integration, and automation. It's not unusual for CIO’s to not completely understand the combined ratio or where their company stands against the competition. If CIO’s, or anyone else in the organization, can put their requests for funding in the context of improving the combined ratio, they will have a better chance of success ● COOs Care About : Operational efficiency, reducing friction, and cost control. ● Underwriters Care About : Speed, decision support, and AI-enhanced risk selection. Underwriters often lament that they cannot get to all of the applications they receive. They often will focus on applications from brokers they have relationships with not knowing if they’re leaving money on the table with the applications they did not get to. Automating file set-up and testing for appetite, profitability and stack ranking applications will, at a minimum, help insurers write more business that is profitable. ● Distribution Leaders Care About : Broker experience, ease of doing business, and CRM insights. Keeping distribution channels happy and well run is their major concern. Especially for agents and brokers, having meaningful interactions with proactive followups is critical to creating long lasting/profitable relationships. ● Claim Leaders care about - the timely and efficient settlement of claims. They need to determine if a claim is covered, what the value of the claim is, reserving the appropriate amount for the claim (reserving is putting money aside to pay for the claim) and optimizing the claim cost. Optimizing here means not underpaying the claim (which can lead to lawsuits, regulatory reviews and bad customer satisfaction) and not overpaying the claim (which is generally referred to as “leakage” and negatively impacts the loss ratio. Identifying and avoiding fraud is also top of mind