These are the top companies that we enjoyed learning about at the 2017 dig+in conference.

3 Companies That Prove the Insurance Industry is Changing

Insurance has been around since the ancient world. Can you believe that? In thousands of years, the innovation factor has been on the lower end for providers while the confusing factor has remained high for consumers. After stepping into a new century where technology moves rapidly and impressively, it still feels like the insurance industry is still behind. Why?

Well, that whole landscape is finally changing. After a few days hanging out Austin, TX at the annual Dig+In Conference on digital insurance, it was clear that the industry is well on its way into a new time. And the best part? It was in the most intuitive, innovative, and thoughtful ways. From crowdsourcing data to tapping into everyday technology sources like Alexa, a handful of startup and well-established companies are paving the way to make an old industry feel brand new.

  1. WeGoLook
    Need to order an inspection or verification for property, vehicles, or other custom items? WeGoLook reaches out to their nationwide network of over 30,000 Lookers, a crowdsourced and verified group of agents that can meet you at an agreed location to record details of the ordered items. WeGoLook’s Uber-like model of registered agent outreach makes it simple to schedule an appointment and expedite the inspection process. Combined with a simple app that ensures lookers are recording the correct information, this new way of connecting the everyday person with an easy-to-use app makes confusing insurance paperwork seem like a thing of the past.

    Image from WeGoLook
  2. Grange Insurance
    Grange took things to a whole new level when Tim Cunningham, CIO of Grange Insurance, brought out his trusty ‘ol Alexa, Amazon’s popular voice activated virtual assistant that seems to know the answer to everything. He asked the crowd who owned one. About 70% of the room raised their hand, proof that it was a commonly owned household product. From there, we learned that Alexa had the capability to store a company’s knowledge database and after completing an Amazon Certification Process, consumers could access that database by beginning questions with, “Alexa, ask Company XYZ if….”. Cunningham pointed out that although it may not be a popular feature now, companies should explore this option because by the time it does become popular, it may be too late. Can you imagine how convenient it would be if your customers could ask Alexa common questions about your company instead of locking up the call centers? Although it’s not clear if this will catch on, Grange takes the prize for forward-thinking innovation.
    Tim Cunningham speaks about their newest innovation at the Dig+In Conference in Austin, TX.

  3. Clara Analytics
    Okay, let’s be honest. Isn’t it such a drag to pick up the phone, dial through a phone tree, and wait for what seems like forever, only to relive the whole process again with a formal agent? Clara Analytics proves that there is a better way. Their new product, askCLARA, is a texting system that allows you to access claims and detailed information. The process is intuitive and simple, helping consumers avoid long phone calls and outdated account systems. It’s like asking your best friend for a quick rundown on the most important stuff.
      

Although these products may not be completely applicable to every person and every business model, we think that these companies have a diverse makeup of where the insurance industry can go. Thank you to Dig+In Conference for showcasing the industry’s most innovative minds. If this is where we are today, we can only imagine where it’s all headed next.

Have a cool product or company that’s stepping into the modern world? Let us know


Jackelyn Ho
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