Pro Global CEO Steve Lewis catches up with leading independent insurance journalist and Founder of the Voice of Insurance Mark Geoghegan.
During the wide-ranging discussion, Mark asked where Steve thought the core competence is of re/insurance businesses, and how they can benefit from outsourcing.
Steve said:
“I think it’s up to every insurer, reinsurer, broker, MGA, to assess what they consider core to themselves, and where ultimately they believe they can build a differentiating capability and the application of skill.
They need to focus on what they can genuinely be good at. And the view of what is differentiating capability continues to evolve – particularly in the last decade with the rise of insurtech.
And that’s allowed different participants in the market to become much more granular in the way they componatise the value chain and determine which elements of it they believe they can add the greatest value to, and ultimately where they feel they will get greater value with partnering capability where others bring more to the party.
I think that becomes the skill – blending that partnering of capability for enhanced performance. Particularly with the ever increasing use of technology, partnering with the right capability along the value chain is actually one of the skills of businesses today.
Pro is ultimately focused on providing a combination of services, a number of those are focused on how to lean your operations, and a number are about enabling capability. And it’s that combination that allows us to partner to allow our clients to focus.”
To listen to the full interview click here.
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