….when, how and/or where will Google disrupt the independent insurance agency channel.
With Google’s mind-boggling, nine-figure investment in Applied Systems last week, everyone is speculating, again. This time, questions are swirling around:
- what’s in it for Google (directly, is it a ploy to learn the insurance distribution system),
- why Applied Systems, and
- what’s the impact and/or benefit to both AMS and industry technology as a whole.
Word on the street
From details shared by Applied and Google in the breaking news last week, key comments from both sides underscore a shared commitment to the independent agency channel:
Jesse Wedler, Principal at CapitalG and the point person for the investment in Applied Systems, stressed they are believers in the independent agency channel and their investment [in Applied Systems] will only do well if the channel does well.
Reid French, the CEO of Applied Systems, said, “We really believe that through this investment, and through the access that we now have to Google’s great assets, we can deliver transformative technology for the benefit of the independent agent and brokerage channel. For us, the investment is more about commitment: to the company, to the channel, and to our customers.”
WIFM and where’s it all heading?
If you’re wondering how this deal really impacts you, Steve Anderson, an authority on insurance agency technology, shared this key takeaway in his recent article on the topic, stating,
“Agents and brokers cannot sit back and think this doesn’t affect them. It does. Those organizations that realize this and take concrete steps to improve their digital presence will be better positioned to win the hearts (and pocketbooks) of today’s consumer.”
With so much up in the air, like you, we’ll stay dialed in, but here’s one BIG THING WE DO KNOW…
…we have Reid French, the CEO of Applied Systems, and Amy Zupon, the CEO of Vertafore, sitting down on the same stage at Elevate 2019, discussing how their technology is breathing new life into the industry’s primary tech: The Agency Management System.
Like all historical ‘Where were you when…?’ questions, this is an experience you don’t want to miss!
p.s. Early bird savings end Nov. 30, so don’t wait!