It was 1989 when Sir Tim Berners-Lee, a British scientist at the CERN, wrote the code that launched the web as we know it today. When you step back from all the noise surrounding the technology revolution, you can see that the WWW has been the foundation from which virtually all the significant disruptions and disintermediation have taken root. Having impacted almost every aspect of our lives 33 years following its invention, it is truly one of the most transitional inventions in human history. Its incredible power is magnified by its simplicity and its ability to adapt and respond to the human need to communicate with each other.
Although its impact on business was felt early on, its impact on claims management has taken time to fully weave itself into our lives. Perhaps COVID was the final trigger. But today, no one can deny it impacts virtually all the strategies on which the traditional claims business is built. It has changed the level of expectations humans (from employees to customers to board members) have on how they will interact with the claim organization. The technology resources available have catapulted beyond where most claim organizations are ready to navigate. It is dramatically changing the traditional business models, again pushing the industry beyond where most are comfortable to venture. In this brief period, the web has changed virtually every aspect of human interactions and what they expect from the commercial businesses with which they do business.
Your problem is that your business will become irrelevant if you attempt to manage it according to the rules that have worked for you for the past 20 years.
To confirm, your problem isn't technology, the great resignation, changing market demands, a tight labor market, or any other list of woes we've heard about in articles, webinars, and trade shows. You need to rethink your basic assumptions about what drives value in your business and what success demands of you in the age of the web. This will require you to focus on your processes rather than your procedures.
Where are you on the road to relevancy? Statistically, roughly 2.5% to 10% of you have already begun the change and are finding your way to the other side. 40% to 50% of you are struggling with the challenges. You are finding yourselves distracted by all the noise in the market. You will likely find your way but only after suffering some market loss. Unfortunately, 60% to 40% of you will likely realize you chose poorly and will suffer your company being viewed as irrelevant in the modern market. That will put you in the ranks of Kodak, Nokia, Blockbuster, Boarders... large successful companies that are no longer with us, simply because their management misjudged the market and failed to innovate.
This is your time. You can create and follow a vision for the future. In so doing, you can lead your company off the path to perdition that so many other companies have traveled down. Remember, it's only those that hold a desire and belief that they can change the world, that succeed in doing so.
For the past 14 years, EHS has been working with the industry's innovators and early adopters. We have developed unique tools and processes to help you turn down the noise and set significant elements of your organization on the path to remaining relevant in today's market. Visit our "Why EHS" web page. At the bottom you can listen to one of our clients discussing our relationship with them and how we have enabled their team to:
Remain focused on managing claims not processing paperwork like it was 1990.
Differentiate their business from their competitors.
Reduce costs year over year.
Manage multiple vendors.
Streamline and integrate data systems to ensure compliance and simplify the reporting processes.
Empower their adjusters to remain focused on the needs of the injured worker.
Bring new and innovative ideas to the table "without all the jargon."
EHS' independence from the traditional large players in the field.
Thank you.
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