From the April 2011 issue of Tech Decisions • Subscribe!

Giving Vendors Their Due

When I first started with this magazine, a decision was made that the focus of our articles would be on what insurance carriers have to say, along with a few consultant and analyst types.

Insurance software vendors were rendered to providing us access to a few of their customers and that’s about it. This month, though, we are giving some industry vendors an opportunity to communicate their thoughts on various topics.

The idea for this came last June at the CIO/CTO Roundtable at the IASA conference in Dallas. Our columnist George Grieve was moderating a session that featured several vendors expressing their views on the industry.

We decided to incorporate the idea into the Tech Decisions editorial calendar and now that we are part of PropertyCasualty360.com the idea expanded into a series of posts that allowed vendors to speak out on the topics that affect them and their relationships with insurance carriers.

I think one of our problems over the years—and one that insurance carriers have as well—is that we looked at vendors as wanting something from us rather than as contributors to the process. Insurers have also been guilty of looking at solution providers as simply vendors rather than what they really are: partners.

One question we posed to several companies who asked to take part in this project was how did they view the relationship with carriers.

Mark Cummings, principal consultant with FIS Software, wrote: “There are those carriers who (unfortunately) view a partnership as requiring a winner and a loser or a way to extract great discounts. These carriers will often make decisions without having offered the solution provider insight into the organization’s goals, limitations, and priorities. When the solution provider lacks the benefit of the big picture, and when carrier communication is lacking, everyone is at a disadvantage. In this situation, projects tend to be more reactive and rarely result in success.”

Fortunately, this appears to be a problem that is getting solved. Times are too delicate to even consider the possibility of a project failure. Pointing fingers at the vendor won’t earn you any bonus points with the executive committee or the board.

Wendy Corman, president, North America, for edge IPK, offered some advice: “All vendors should act as if they had a stake in the carrier’s decision; educating and providing examples during the evaluation process. A good vendor is one that can assist with information to help the buyer determine the best fit.”

These are good pieces of advice that some of us have been ignoring for far too long.

Page 1 of 2
Comments

Resource Center

View All »

Complimentary White Paper: The Compression of Workplace Time

How brokers and carriers respond to the compression of workplace time will create significant competitive...

The Changing Insurance Consumer: 6 Ways to Create Profitable Relationships

Today’s mobile and web-savvy consumers have new expectations when it comes to interacting with your...

Contractors General Liability Coverage 102

What is a prior work exclusion? Which option is right for my client? Why do...

Sign up today to get a 50% matching credit -...

Insurance marketing sometimes seems like it's a game of swings and misses, but we're here...

Guide: 5 Steps to Selling Cyber

Cyber risk and data security is on the agenda of every business owner and executive....

Citation Correlation

Do rigger and signalperson qualifications correlate with the cause of crane and rigging accidents? ...

Complete Guide to Electronic Signatures in Property & Casualty Insurance...

In property and casualty insurance, closing new business quickly is key. Learn how to leverage...

INSTANT ACCESS: Complimentary Sales Closer Questionnaires

Help property owners or managers compare your commercial residential property insurance coverage vs. the competition....

Determining Vacant Property Perils and Valuations

Are your clients fully covered for Vacant Properties? In this economic climate, your insureds may...

Risk Management for Law Firms

This package of 3 concise risk management articles offers straightforward content and practical suggestions law...

Tech Digest eNewsletter

Technology related insights for insurance professionals including key developments, solution providers and news briefs from the carrier front – FREE. Sign Up Now!

Advertisement. Closing in 15 seconds.