The insurance industry got a wake-up call in 2017. As InsurTech rapidly shifted from a buzzword to reality, many carriers raced to figure out how to bring the creativity and agility of these new startups to their mature businesses.
One company's solution
At Pinnacol Assurance, Colorado's leading provider of workers' compensation insurer, we responded by building a brand-new company and digital platform in just 12 months.
We started in 2016, on the heels of our company celebrating its centennial anniversary. We already knew that consumers have come to expect Amazon-like experiences for every purchase they make, insurance included. We knew we needed to continue to invest in technology for new sources of data and operational efficiencies. And we saw a clear opportunity in the small commercial marketplace, which is increasingly populated by millennials for whom digital, self-service experiences are a way of life.
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