Technology is now a tool like the chisel was to a craftsman of the 19th Century

24 August 2020

Through the digital lens of Uinsure - Cameron Parsons, Head of Digital Optimisation

Today, we find ourselves in a very interesting place, as the entire world has temporarily closed its doors, forcing people to work from home and do what they do best – adapt. Most businesses already understood that to survive in the modern world, they would be required to invest in technology, irrespective of industry. With this, a global acceleration of technology adoption has occurred.

However, viewing technology as the silver bullet that will solve all your problems is unrealistic. It should be viewed as a modern set of tools that are now critical to compete. Just as a craftsman of the 19th century would view their tools; the better they are, the more efficiency and opportunity they possess. The days of cobbling together intermittent systems are long gone. Uinsure, has quickly realised that mere technological investment has become the norm and is instead obsessed with driving customer value, through technology. This fundamental shift is the crux that will separate the winners from the losers.

This is most notable in our industry within the lending sector, where API technologies will soon level the playing fields. Soon API integrations with the broker will be nothing more than a hygiene factor and lenders will be looking at new ways to innovate, to drive not just efficient pricing but additional customer and broker value too. Some may argue that a race to the bottom on price is good for the consumer, but we would argue that it is not necessarily a sustainable business environment.

This sounds a resounding alarm for many businesses who are solely focused on creating shallow value through price alone. As the modern savvy consumer is driven not only on price but instead proposition too. If this were not true, we would all be using Samsung not Apple iPhones.

This is the sole reason I joined Uinsure. Our focus is on putting the customer and the broker at the heart of all our decisions, technological innovation, and day to day discussions. Uinsure is obsessed with creating value using a technological toolbox for its business partners and their customers. For example, our integrated Defaqto Home Insurance tool allows brokers to quickly and easily compare products ensuring that the customer gets the best outcome. It is the first company that I have worked for who are so confident in their ability to create value for the customer, that they even list their competitors’ products too.

The best part of it all is that we are only getting started. Value lies at the heart of this business. Uinsure has an enormous vision, but most importantly, does not talk about investing in technology, instead we know that era is gone, we have moved to obsessively creating value, through technology.