EOX Vantage Blogs

The Internet of Things (IoT) is a bit different from the Internet itself. In simple terms, it's a way for devices, apps or data to "talk" to each other through the Internet. Most likely, you are wearing a watch or have a phone that "talks" to other devices regularly. 

Artificial Intelligence (AI) is everywhere and seems to be rapidly growing before we can even fully comprehend the full scope and power of the tools that AI makes possible. There are several different types of AI that have emerged, and these are the top 10 you are most likely to run into. 

It's common for employees to go through training to prevent them from clicking on or accidentally downloading spam, but what is not as common is for job applicants to go through that same training and to be expecting their dream job employer to be a scammer posing as the hiring company.  

How can companies deal with new, changing or restrictive regulations? Regulation, which can be reactionary,
often drives innovation. While sometimes legislation is talked about ad nauseam, other times actions can
happen vigorously, swiftly and completely transform a business model. 

Technology is supposed to make everything easier, but that’s not always the case. Across all industries, multiple systems are put in place to solve business challenges. 

These days there is a lot of talk going on about 'low-code/no-code solutions.' What exactly are these, and is it worth it to seek out and implement them?

It’s time for a change in the way the insurance industry does business. Historically, the approach has come from a transactional viewpoint – that is, how many (good) policies can I sell?

While that outlook is still valid, these days, COVID has changed consumers’ perspectives and expectations. Online shopping, curbside pickup, fast delivery – the overall 'Amazon experience' has primed us for quick transactions and more or less instant gratification. Their purchasing decision process is changing, with customer experience becoming the ultimate difference-maker.

The Insurance industry needs to take this movement into consideration and alter its approach from transactional to one centered on the customer experience. Trust that the policies will follow; retention rates and referrals will increase.

Published in CHART Exchange | October 2021 issue
Author: Mike Fieseler

It’s that time of year again to celebrate the people who keep the supply chain moving and the economy rolling: Truck Driver Appreciation Week (Sept. 12-18)!

One question to consider is, how best to show appreciation? More pay, special rewards and bonuses all come to mind. But the best methods might involve intangibles. Make sure drivers fit in and feel comfortable, valued and respected at your organization.

Published in CHART Exchange | July 2021 issue
Author: Mike Fieseler

Like any other business, insurance entities improve operations, efficiency and profitability by reducing costs, improving quality of their offerings, achieving higher speed to market and finding ever better ways to attract and keep customers.

Those of you who have read my previous articles probably will not be surprised to hear that I advocate workflow automation to realize all these benefits and advantages. Automation methods and tools are available to simplify and speed up every step of the policy lifecycle. Some of the most time-consuming tasks are routinely done by hand, when they can and should be performed by computing power.