Industry leaders and consultants have many ideas for how to integrate technology into business processes, make it seamless for the customer and bring about digital transformation. But the best definition of transformation that I’ve come across is from a philosopher, Sadhguru. He wrote:
“When we say ‘transformation,’ it means that nothing of the old has remained. Something totally new has flowered within you. Now you look at a rose plant that is full of thorns. Springtime came and rose flowers burst out—it is a transformation. The thorns are still there—there are more thorns than flowers—but we do not call it a thorn plant. We call it a rose plant because of that single rose. Everyone's attention goes more towards that single rose than a hundred thorns that are on the plant, isn't it? So all the thorns in you, maybe you cannot remove them right now, but if one rose flower blossoms, everyone is willing to overlook those things.”
Sadhguru was talking about transforming oneself; however, doesn’t this same philosophy hold true when we look at enterprise-level transformations? Amid thorns—a.k.a legacy systems—what could be the rose? Some would say modernizing the core, and others may say leveraging an AI engine to solve x, y, or z. I would argue that the rose is the customer itself. Who are we really doing transformation for?
What does innovation at the point of the customer mean? It means the customer is the focus of how we approach solving problems.
For example, let’s look at Benekiva. Benekiva is a SaaS platform for life, annuity, and health insurance, and our claims and servicing modules offer carriers a 100% digital process, from end to end. But our foci are the beneficiaries. Why? During the time of claim, who submits the claim process? Who deals with all the various requirements needed when they are possibly going through the worst time of their lives? The customer.
Innovation at the point of customer doesn’t stop at the end-user—that is just the starting point. As you start working backward, you keep innovating and evolving. You don’t stop because “this is just back-office." You accelerate. Why? Because your customers don’t just expect an Amazon-like experience—they demand it! Any piece that causes friction gets noticed and hurts the experience, which ultimately hurts the brand.
How does one go about innovating at the point of the customer? There are three areas to consider.
When I look at hiring people in my product development team, I have developed a triple-threat model. I look for solutions-focused individuals who love solving problems and are curious by nature. I look for technologists—individuals who have worked in technology and have a deep understanding of various integrations and the architecture landscape. Finally, I look for project management skills: individuals who have led enterprise-wide initiatives and can help organizations with change management.
We follow a fail-fast-learn-fast model which allows us to look at how and what we innovate in an MVP (minimum viable product) mindset. We don’t allow perfectionism to get in the way of innovation. The faster we deliver, the quicker we get feedback that allows us to keep iterating or throw a feature out as it won’t fit. The voice of the customer keeps us grounded to ensure we focus on the near-term needs. For the long term, looking at a customer as a whole and what are the macro trends that may shape the customer allows us to keep an eye out for the future.
Whether you are a tier-1 carrier or an up-and-coming insurtech, we all have constraints. Have you ever seen a home builder lay their own foundation, build their own cabinets, and do all the piping for electrical and plumbing? Homebuilders are masters at having a partner network—they have an electrician, a plumber, etc. To innovate with the customer in mind, you must be surrounded by partners that elevate the pieces of the customer journey.
For claims, we are an end-to-end claims and servicing platform with a focus on customer experience. Our gateway architecture allows our partner network to integrate such as admin systems, document management solutions, and external data sources to provide a seamless process for the claimant and the associates.
As Sadhguru shares: “Everyone's attention goes more towards that single rose than a hundred thorns that are on the plant, isn't it?” When you place your innovation focus on the customer, “thorns” still exist but it isn’t the focus. For the rose to continue to bloom, there are foundational elements that still need to be taken care of or the rose plant may die but we can’t over “water” the process or forget the rose in the process of taking care of the foundation.
Curious how Benekiva can help you innovate at the point of the customer? Book your demo today.
Bobbie Shrivastav, MBA, PMP, PMI-ACP, CSM
Bobbie Shrivastav is a tech innovator who loves solving real problems. Co-Founder and Chief Product Officer of Benekiva. Speaker and Thought Leader in insurtech, fintech, and claims. Global advisor and mentor. DeFi, Crypto, and Blockchain Enthusiast.