Breaking Boundaries in Insurance: From Start-ups to Success with Andre Symes
Sharon Brown recently had the pleasure of interviewing Andre Symes, Group CEO of Genasys Technologies, for an insightful discussion about the intersection of technology and insurance. As someone who’s been deeply involved in the insurance industry for more years than I care to mention, I was particularly interested in Andre’s perspective on why some software implementations succeed while others fail.
What struck me most was Andre’s refreshingly honest approach. Unlike many tech CEOs who might oversell their capabilities, Andre emphasised the importance of being transparent about what their software can and cannot do. He shared that one of their biggest early mistakes was starting implementations with a blank sheet of paper, rather than showing pre-configured solutions that could be tailored to specific needs.
The conversation took an interesting turn when we discussed artificial intelligence. While Andre acknowledged the industry’s tendency to chase the latest buzzword (blockchain, anyone?), he believes AI is different. It’s not just hype – it’s here to stay and will fundamentally change how we operate. His advice? “Use the tool rather than resist the tool.”
A particular highlight was our discussion about the relationship between software vendors and insurance companies. Andre made a compelling point about how insurers are experts in their products, while software vendors are experts in implementation. Success comes when both parties recognise and respect this dynamic.
My Top 3 Takeaways:
- Cultural Fit is Crucial: When choosing a software vendor, look beyond the technical specifications. As Andre put it, ask yourself, “Can I do business with these people for the next 5-10 years?” The human element often determines success or failure.
- Start with What Works: Rather than building from scratch, begin with pre-configured solutions and adapt them to your needs. This “evolution rather than transformation” approach typically leads to better outcomes.
- Data is the New Currency: The importance of getting quality data to capacity providers quickly cannot be overstated. With some reinsurers working with 18-month-old data, there’s a clear opportunity for companies that can provide real-time insights.
The full episode has many more insights, particularly for MGAs and brokers considering technology upgrades. You can find it by visiting the Link: Breaking Boundaries in Insurance: From Startups to Success with Andre Symes
What I found most valuable about this conversation was Andre’s emphasis on partnership over pure vendor relationships. In an industry that’s often resistant to change, having a technology partner who understands both the possibilities and limitations of their solutions is invaluable.
As we look to the future of insurance technology, it’s clear that success will come not from chasing every new trend, but from building sustainable, scalable solutions that truly serve the industry’s needs. Andre and Genasys seem to be leading the way in this approach.
You can listen to the full episode here!
