Q2 CEO Letter to Customers
Dear valued customers,
This past year tested the resilience of businesses far and wide – and insurance carriers were no exception. Thankfully, we saw the majority of the industry emerge quite healthy, despite some pockets of weakness.
We at Hubio took the opportunity to reflect on our mission and values. Having served Canada’s P&C insurers for more than two decades, our identity morphed repeatedly as a result of multiple mergers and acquisitions, which took place between 2013 and 2018. The dust has finally settled since our management buyout, and now we’re looking to level set for our stakeholders.
So, what is Hubio? The short answer: A smart hub for insurance operations.
Our goal is to deliver a platform for insurers to tackle their business more efficiently – whether that applies to broker communication, underwriting or regulatory reporting. In the coming months, you’ll see this theme reinforced throughout our new branding and marketing materials. We’re laser-focused on building tools that fit this ethos and can be delivered via the cloud as a software-as-a-service (SaaS) model.
Case in point: our Chief of Strategy, Nick Yee, identified an inefficiency in Bordereau processing while he and his team were implementing our collabor8 solution for a client based in Langley, British Columbia. Nick quickly recognized that the old, manual procedures that firms use to evaluate Bordereau submissions could be easily replaced with automation, saving carriers vast amounts of time, energy and resources. Once we determined there was sufficient demand for the solution, the product team created the software in under three months. (Click here for the full story.)
Innovative, solutions-oriented thinking like this is exactly what the insurance industry needs to catch up with the digital evolution currently taking financial services by storm. An industry-wide shift is coming sooner rather than later, accelerated by a consumer base that’s spent more than a full year shopping, working and entertaining online. The fact is: Canadians are more comfortable than ever with digital services, and all businesses (whether consumer-facing or not) should recognize that automation will foster greater flexibility, efficiency and, ultimately, competitiveness.
We recognize the scale of change can be daunting though. Over the next few months, we will be introducing thought leadership content to help you navigate these turbulent times, leveraging a wealth of in-house expertise on digital transformation. You’ll engage with articles, case studies, videos and key industry updates disseminated through our monthly Hubio newsletter. Stay tuned for exciting times ahead.
CEO, Hubio Technology