8 Tips to Navigate Tech Upgrades with a Stubborn Boss

Did you know the oldest millennials are now 43 years old?

Millennial or not, many insurance professionals are in management positions but still need to get sign off by an often older, less technologically savvy boss or owner.

These middle managers know their tech and systems need modernization, they get it, but face a significant obstacle: convincing the said resistant owner(s) or decision maker(s).

Here are 8 tips to navigate this delicate situation and drive meaningful change within your organization.

1. Build a Strong Case with Data

Business decisions are often driven by data as it is objective. Compile a a detailed report that outlines the inefficiencies and costs associated with maintaining legacy systems . Highlight the time wasted doing routine tasks that could be automated & what that dollar value is. Look at potential cost savings, productivity gains, and enhanced ability to connect to other systems you may have. A well-supported argument rooted in data can be compelling and difficult to ignore.

2. Showcase Success Stories

Leverage case studies from other insurance companies, brokers, or insurtechs that have successfully upgraded their technology. If you look at the largest players in the space (brokers or providers), you'll see a common throughline that involves them investing in tech.

Detail the positive outcomes they experienced, such as improved customer satisfaction, reduced processing times, and increased market share. Success stories from industry peers can serve as powerful examples of the benefits of modernization.

3. Align with Business Goals

Frame the need for a technology upgrade in the context of your company's strategic objectives. Whether the goal is to 2X revenue, improve customer experience, enhance operational efficiency, or expand market reach, demonstrate how modern systems are essential to achieving these aims.

4. Engage a Third-Party Expert

Sometimes, an external perspective can make all the difference. Engage a consultant or industry expert to provide an unbiased assessment of your current systems and the potential benefits of upgrading. Their expertise and impartiality can lend credibility to your case and help alleviate your boss's concerns. Even though you may have been beating the drum for a long time, sometimes all it takes is an outside voice to get the ball rolling.

5. Pilot Projects

Before making a switch to a no-code platform , you can propose starting with a small, low-risk pilot project. Select a specific area where a cost effective new technology can be implemented and show measurable improvements. Show them proof of concept, build momentum for broader adoption to a wider reaching & higher investment solution.

6. Address Fears and Concerns

"What if it doesn't go right?" would be at the top of everyone's concerns. Fears and concerns understandably come with making a big change. Address them. Understand your boss's specific concerns whether it's change management, fear of disruption, cost, or unfamiliarity with new systems, address these issues directly. Is the concern from the tech solutions provider? Leverage your their materials, case studies or speak to their clients. Provide reassurances, detailed plans, and potential solutions to mitigate these concerns.

7. Get them Inspired at an Insurtech Conference

It's easy to walk away from a good event feeling inspired. There are loads of great insurtech events from Insurtech Insights to Insurtech Connect and many more. If it's your first time, it might be an eye-opener when realizing the pace the industry is moving. From panel discussions, vendor booths, speed networking or drinks (or 5), insurtech events are a great way to get inspired and foster a sense of innovation.

8. Make it Their Idea

Save the hardest for last! No I'm not talking about inception, you don't need to go down 4 layers to implant an idea in someone's head. People in power like their ideas more than their staff dictating to them. If the idea is theirs, they will have a sense of ownership. How that's done? Present the idea as a rough draft & ask them for advice, getting them to participate. Get them to buy-in early, which ultimately increases your chance for action.

Navigating technological upgrades in the insurance industry requires patience, persistence, and a strategic approach. By employing these strategies, middle managers can effectively advocate for change that actually happens.

Onwards & Upwards,

Quinn Miller | Insurtech Consultant

If you're looking for consulting, let's chat: [email protected] or send a message on LinkedIn.