AgentSync at ITC: Unraveling Insurance Complexity at the Heart of InsurTech Innovation

At ITCVegas 2023, I had the pleasure of joining forces with AgentSync 's fun and dynamic team.

AgentSync's journey is one of remarkable clarity and purpose, born from a mission to untangle the complexities of insurance. Their valuation soared to an impressive $1.2 billion, —a testament to the value they are creating for their customers and the broader industry.

I sat with the wonderful Ryan Fitzgerald , Senior Content Manager, to talk about the insurtech revolution. We explored the sector's current trials and tribulations and why robust and transparent company values are essential for leading in this competitive landscape.

Kate: In the context of technological advancements, how do you see the insurance industry evolving?

Ryan: Efficiency is a major goal for tech companies; they often rip things apart to find ways to be more efficient. But table-flipping overhauls aren’t appropriate for all industries. Insurance, for example, needs change in its legacy tech infrastructure, but there's value in respecting the experience and age in the room, and good reasons to take it slow when you’re tackling long-term industry shifts. Many companies overlook this, which is partly why insurtech took a hit this year.

Kate: How do economic shifts impact the industry, particularly insurtech?

Ryan: Few in the tech sector expected the massive macroeconomic shifts we've seen. However, the insurance industry is excellent at predicting and reacting to trends. They see upticks in certain products when markets fluctuate, so following their lead in understanding cause and effect is incredibly helpful.

Kate: What's the significance of respecting industry experience in this digital age?

Ryan: Respecting experience and listening are key in this business. You need to hear what industry experts want and need, not what you think they need. Telling a 125-year-old carrier how you think they should modernize can get you laughed out of the room. They have a different way of thinking, and respecting that experience is key to having meaningful conversations and building the right products that drive the industry forward.

Kate: AgentSync has achieved remarkable success in a short period. To what do you attribute this rapid growth?

Ryan: AgentSync's rise can be largely attributed to our commitment to transparency and trust. We've made it a point to communicate openly with our investors, providing monthly updates and sharing data meticulously. And we take the same approach with our customers – we want the relationship to be one of mutual sharing so we can make connections across the industry, not be a one-dimensional transaction.

Kate: How important is clear communication in your overall strategy, and how has it influenced your relationship with investors?

Ryan: Clear, no-nonsense communication is vital. It's the bedrock of our strategy and has significantly influenced our investor relationships. By consistently sharing detailed breakdowns of our operations and growth metrics, we've not just kept our investors informed but also involved. They're not just spectators; they're active participants in our journey.

Kate: How do your company's values and internal culture influence your approach?

Ryan: Our internal values, like customer love, acting like an owner and inspiring excellence, are crucial. You can't inspire externally if you don't practice these values internally. It's about authenticity and transparency. Also, empathy plays a big role. Our founders' experiences, coupled with insights from industry veterans like Sandy Allen, drive our empathetic approach to solving industry pain points.

Kate: Looking forward, what's on the horizon for AgentSync?

Ryan: We're always aiming to build products and features that deliver massive efficiencies for insurance companies and exceptional experiences for insurance agents. We’re working on several new products in beta phase, each tailored to different customer needs. Our goal is to solve big problems and always meet our customers where they are on their digital transformation journey.

Kate: As a frequent attendee of industry conferences, what are your must-haves?

Ryan: When I'm at conferences – especially in Las Vegas – my essentials are comfortable shoes, chapstick, a water bottle, and Cliff Bars. They keep me going through busy days filled with meetings and presentations.

If you’d like to learn more about AgentSync, visit: https://agentsync.io/