The Future of Insurance with Cory Crosland, CEO of PolicyFly

Risky Business
Risky Business
The Future of Insurance with Cory Crosland, CEO of PolicyFly

Cory Crosland is the CEO at PolicyFly, an all-in-one digital platform revolutionizing insurance administration. Cory and his team help insurers build better, more-profitable programs with streamlined online applications, faster and smarter underwriting, and the best technology money can buy.

They talk about ways to maximize the use of raw and structured data, how good data leads to better decision-making, and why agents continually refuse to adopt new technology.

[00:00] Introduction 

[01:00] Who is Cory Crosland?

[03:36] Challenges Plaguing Agents and Truckers

[05:39] Agents Resisting Technology Adoption

[07:25] How Good Data Leads to Better Decision-Making

[11:30] The Power of Raw and Structured Data

[14:50] Data Makes Idea Implementation Possible 

[20:27] The Competitive But Friendly Nature of Our Industry

[24:26] What Cory is Most Excited About the Future

[26:30] Parting Thoughts

Agents Resisting Technology Adoption

For the most part, technology for agents is seen as more work because now we’re asking them to enter their data into a portal, fill out another form, or tick off a new checklist. Cory explains that there is often a transition period when new technology is implemented. Agents may need time to learn and adjust to the new systems or processes, which can initially increase their workload. He adds that agents may have to navigate multiple systems or platforms to complete their tasks if the technology is not seamlessly integrated into existing workflows. This can be time-consuming and lead to frustration, contributing to the perception of increased workload. This means that agents will resist any action that requires them to enter data into multiple systems or fill out redundant forms that create duplication of efforts. 

However, it’s important to recognize that technology, when implemented effectively, has the potential to streamline processes and enhance efficiency for agents. For example, automation can eliminate repetitive or manual tasks, freeing up agents’ time for more complex or critical aspects of their work.