What do you do if you're an insurance professional seeking strategic partners for business growth?

In my experience as an insurance professional, seeking strategic partners for business growth has involved immersing myself in collaboration and volunteering for projects larger than myself. By doing so, I've aimed to learn from others and network with like-minded insurance professionals who share similar goals. This approach has been instrumental in expanding my knowledge and fostering valuable connections that can lead to mutually beneficial partnerships in the future.

Strategic partnerships fuel insurance growth. Here's how to find the perfect fit: 1. Map Your Strategy: Define goals, vision, & internal strengths. 2. Identify Partner Value: Seek partners who complement your goals & offer expertise you lack. Prioritize areas where: a) Cost of building expertise is high b) Short-term goals require rapid solutions 3. Match Needs with Solutions: Create a "partnership needs map" where your goals & partner value gaps overlap. These areas are prime for collaboration.

It's not just about finding any partner, but rather identifying those whose needs align with ours. This means delving deep into understanding their pain points, challenges, and goals. From my experience, this involves active listening, asking the right questions, and truly empathizing with their situation.

You never know where you can find potential partnerships. In my experience, networking or your own network has been the most efficient way, basically because develops trust more easily and you can skip a lot.

In my experience, partnerships are often formed in the most unexpected areas! Leveraging the first point, on identifying needs, embedding your product and coupling it tightly with a need - i.e. motor insurance to working with car dealers will be what most people would think of. What our company offers: is a unique preposition. As we provide car dealer and logistics software solutions, insurance providers can partner with us to provide our customers with a seamless risk adjusted experience by leveraging the data we collect, and at the same time, work on embedding the insurance products directly to ensure a seamless experience for a three-cornered win!

In my journey as an Insurtech founder, this has been the most crucial part. After finding your potential partners, ask, ask, and ask to all the references you can find. Try to observe deeper in their values, their priorities, their vision and how does it align with what you think you need.

This is a bit like nurturing a marriage, albeit in a professional sense. Just like in it, it takes time, effort, and mutual trust to cultivate strong and lasting relationships. Invest in it. Have always in mind how you can support each other, fostering trust and transparency, and you will thrive.

Understand that don't always be as you wanted or need it. But try to capitalize any opportunity you have in order to get closer to your goals.