Adam L'Italien’s Post

In the fast-paced world of technology and innovation, it's easy to remain fixated on future goals and milestones. Yet, today I am taking a rare pause to look back at the path we've traversed at Quick Silver Systems. What a spectacular journey it has been! From our inception, tackling the complexities of the insurtech landscape, to evolving into a fully functional insurance software platform redefining industry standards, each step has been an integral part of our story. This reflection is more than just a nostalgic trip; it's an acknowledgment of the resilience, hard work, and collective spirit that have been our driving forces. Our growth, from overcoming initial challenges to pioneering with the Mercury Policy and Claims Platform, mirrors the dynamic evolution of the industry itself. It's a journey marked not just by achievements but by the lessons learned and the relationships built along the way. As I stand here, taking in this remarkable view, I invite you to just take a moment to appreciate how far you have come and gear up for the exciting path that lies ahead.

Had an awesome time at InsurTech Hartford last week. After joining a round table session and attending multiple Keynote sessions, I left with 2 takeaways: 1) Carriers are still figuring out the balance of policies that go through STP (straight through processing) vs policies that are manually reviewed. After opening their doors to everyone in 2020 & 2021, carriers incurred major losses and skyrocketing combined ratios due to inflation, supply chain issues, and inaccurately assessing risk. As a result, many carriers had to disable digital binding capabilities because they didn't have the right tools in place to properly assess risk in real-time. 2) Agents know applications better than anyone, and as a result, are able to "game" carrier systems. During the roundtable, a participant used the analogy "If we build a system for agents with the intent that they would walk into the front door of a home, we see agents decide to go a different route and break-in through a window". This analogy was used when discussing how agents are gaming carrier systems, manipulating answers, and behaving in ways that drive premium down and ultimately hurt the carrier. While you can't control inflation costs and supply chain issues, you can control risk. Carriers working with ForMotiv have all of the real-time behavioral insights needed to assess risk in real-time, push applicants out of the STP funnel when high risk behaviors are seen, and detect malicious agent behaviors that are consistent with agent gaming and premium leakage. Overall, it was an awesome conference and I'm looking forward to attending next year.

We might be 126 years old, but we’re not stuck in the past. We know innovation and technology will continue to play a large role in all our futures. However, we don't just talk the talk: our innovations arise organically from striving to create a better experience for our members, agents, and employees. We’ve earned five NAMIC Awards in Innovation, spanning multiple categories, since winning the inaugural award in 2014—more than any other insurance carrier to date. Cited achievements have included: • Working with FranklinCovey to develop a “gold standard” for strategy execution. • Enhancing our service standards and culture by partnering with the Disney Institute. • Developing our own claims estimate application, MOEstimate, to significantly speed up the process for claimants to receive an approved repairs estimate. • Partnering with Wildfire Defense Systems to monitor conditions and deploy professional wildfire response and protection teams to members’ homes and property, at no additional cost. • Our MOE Perks program, which uses a personalized mobile app experience to offer local and national discounts to agents, employees, and eligible members. • Launching Nucleus, our new cloud native policy administration system, which was developed fully in-house to allow for maximum customization and optimization. This is just a short list of all the cool things we have going on here at Mutual of Enumclaw. Learn more about our company culture, benefits, and career opportunities: https://bit.ly/3SKnQAm #InsuranceCareersMonth #ICM2024 #Insurtech

The 12 themes of 2023 – Part 2 The Insurer’s editorial team chooses 12 of the most significant events or trends that emerged in 2023. In our second instalment we look at a pair of major industry frauds, booming ILS issuance, insurtech layoffs and the growing interest in parametrics… #insurance #reinsuranxe #insurtech

🎉 Exciting news! ClaimsPlanet has been shortlisted for the InsurTech Award at the British Claims Awards, 2024. I am incredibly proud of our dedicated team for their hard work in developing our AI damage assistant, and repair estimator tools. Their innovation is truly making a difference in the industry. 🚀 Learn more about our journey and this prestigious nomination on our website: ClaimsPlanet. #BCAwards #ClaimsManagement #Innovation #Claims #LossAdjusting

"The customers got a life, they've got health, they've got a family, they have vehicles, they have a home, they have wealth, they have all of these things, and there are opportunities in all of those spaces. But we keep defining it in these self-fulfilling very narrow little buckets. That's where the future is. The future is going to be when we all get bold enough to zoom out and think even bigger about the holistic experience of the customer and truly put the customer at the center of that universe. " - Excerpt from the insightful interview below with Rob Schimek, CEO of bolttech.

Kicking off 2024 with one of my favorite conferences of the year at the Insurance Networks Alliance (INA) Annual Meeting. Excited for conversations with friends and colleagues and meeting new industry leaders! Doesn't hurt that it is in Fort Worth, TX where it is above 20 degrees. Let me know if you would like to connect while there. #bebold #poweredbypenguins #insurancenetworks

Looking to review your pharmacy coverage? Marsh McLennan Agency's Rx Solutions team can help you sort through the different types of pharmacy coverage to find a solution that provides superior benefits while also saving on costs. Visit our webpage to learn more. #Pharmacy #Benefits #Insurance

Looking to review your pharmacy coverage? Marsh McLennan Agency's Rx Solutions team can help you sort through the different types of pharmacy coverage to find a solution that provides superior benefits while also saving on costs. Visit our webpage to learn more. #Pharmacy #Benefits #Insurance

Looking to review your pharmacy coverage? Marsh McLennan Agency's Rx Solutions team can help you sort through the different types of pharmacy coverage to find a solution that provides superior benefits while also saving on costs. Visit our webpage to learn more. #Pharmacy #Benefits #Insurance