Digital Dynamics in Insurance

#AskTheCEO Podcast

Connect with Instanda on the Azure Marketplace: https://bit.ly/2AKxo9W Greg Murphy is the Executive Vice President, North America of Instanda, a company that provides core insurance capabilities through a SAAS based digital platform that focuses on ease of product creation and dynamic distribution to multiple channels. As part of this discussion, we shared how their partnership with Microsoft, their use of Azure, and the Azure Marketplace has empowered them to scale and grow their business. Contact Greg: Web: https://instanda.com/us/ LinkedIn: https://www.linkedin.com/company/instanda/ Twitter: @instandaF2X Contact Avrohom: Web: https://asktheceo.biz Facebook: AvrohomGottheil Twitter: @avrohomg Instagram: @avrohomg INTERVIEW HIGHLIGHTS: [00:43] Over the past several years, businesses have gone through a process that we call digital transformation. For those that have been slow to adopt new technology, the crisis of Covid19 forced their hand, so to speak, in terms of this digital transformation. Your company, Instanda, serves the insurance industry, which is extremely complex and highly regulated. What are some of the challenges that insurance carriers struggle with as part of their digital transformation experience? Greg: Well, there are, I would say four things that come to mind on this topic. The first one is really, challenging companies to really, truly be transformative. I can't tell you the number of times that I've worked with companies that will say they're trying to be transformative, and the executives are very passionate about this, and have really, really, great ideas. But when you get right down to exactly what are we going to do, a lot of times we're repaving the cow path, so to speak. We're doing the same things we've done before, but with just different technologies. Right? So, really that truly being transformative, I would say, is the number one piece of that. And you have to figure out exactly how do you get into a transformative mindset? How do you think differently? How do you think outside the box? [04:35] What can businesses do to overcome some of these challenges? Greg: Businesses should re-envision the way products and technology are used in the company's value chain. [06:00] Build a solid business strategy first before throwing technology in to fix problems. [07:14] Instanda recently launched a new offering on the Microsoft Azure marketplace, called Instanda. Tell us about it and how it addresses some of the challenges we just discussed. Greg: Instanda delivers immediate product design solutions with the ability to distribute digitally on multiple channels simultaneously. [10:19] How would a company use your solution with Azure? [11:40] How can customers find out more about Instanda, and procure it through the Azure Marketplace? Greg: You can access it via this link: https://bit.ly/2AKxo9W. [12:18] How has partnering with Microsoft helped Instanda scale and grow your business? Greg: Because Instanda is a Microsoft partner, the delivery of complementary capabilities through logic apps and power BI is seamless. [13:49] How do people connect with you? Greg: You can always connect with us via our website, https://instanda.com/us/. We are also very active on social media. A great way to interact with us is via our LinkedIn page, which is https://www.linkedin.com/company/instanda/. You can also connect with us via Twitter at @instandaF2X. [14:25] Do you have any parting words of wisdom that you’d like to share with the audience? #AskTheCEO With Greg Murphy