Welcome to y.View. In this issue we’re talking about two perhaps seemingly disparate topics: millennials and automation. I see them as intricately bound together by the pressure that’s on our industry today to be more efficient, to stay ahead of the curve, to be better. And I feel strongly that if you’re not changing, you’re not getting better.
I’m passionate about the next generation of people who will come in and bring big change to this industry, both as its customers and its leaders. York wants to attract motivated, big thinkers who are still early in their careers. We spend a lot of time thinking about how to do that while acknowledging that we’re fighting an uphill battle: Data suggests that millennials don’t see our industry favorably. But that’s exactly what gets me excited, that sense of opportunity. That challenge to find the right ways to communicate to this group, to tap into their unique perspectives and strategies, to invite them to be a part of all that we’re doing.
And technology is a big part of how we’ll do it. Technology is both a contributor to change and an accelerator of it. In most industries people aren’t just accustomed to change, they’re demanding it. “Next day” was the new norm, and it’s already too slow. Some expectations we can meet today as an industry; others just aren’t feasible for us right now. We’re exploring how technology can augment and support our human expertise. Because that’s what it’s all about, really: making humans more effective, not taking them out of the equation.
But before you dive into new technologies, you have to understand the business process and how you want things to work. What are the outcomes we’re trying to get to? ‘Bad outcomes faster’ isn’t a solution. Start by understanding what you want, identify the optimum processes for getting it, then automate. One of the first things we did when I came on at York 18 months ago was to better understand what we’re trying to get to. We’ve been reengineering our processes and seeing improvements in the outcomes — for our clients, claimants and our own teams.
The insurance business is critical to our economy. To society as a whole. When you think about insurance, it’s all about how we take care of not just ourselves, but each other. It might sound like a line, but I mean it — wholeheartedly — when I say that I love this industry. Since relaunching our brand this past December, York has redefined how we want to be regarded in the industry, how we want to serve the industry, and really, how we want the industry itself to be viewed.
y.View is our opportunity to shed new light. There’s so much opportunity for transformation within the risk and insurance industry. I’m excited to see what this year, and beyond, will bring for us.
Thank you for joining us on this new adventure!
A letter from Chairman and CEO Thomas Warsop
Tom is a transformational leader with three decades of experience leading global businesses and changing the status quo.Read More