096: Futureproofing Broking Through Technology with Natalie Sankala, Operations Director of TCi Futures

Changing the Conversation: The People in Insurance

Are you concerned about the rapid acceleration of technology implementation across the insurance industry? Are you unsure how new Insurtech solutions can help brokers in delivering for their clients?

In this episode of the Insurance Broker Podcast, we are very pleased to be speaking with Natalie Sankala, Operations Director of TCi Futures. Originally an Insurtech-oriented research and development arm of Thomas Carroll Group, the business has since grown into a subsidiary in its own right, exploring new technology solutions for brokers and developing exciting new platforms for businesses. In conversation with Boston Tullis’ Sarah Myerscough, Natalie discusses the origins of TCi Futures and how it intends to develop, in simultaneity with the increased incorporation of technology across the insurance industry. She highlights the importance of growing your technological understanding and capability for futureproofing your business.

Quote of the Episode

“We have to be led by the changing needs of the clients and customer. And I think that's kind of where we came from – we understand the world around us is changing, and it's changing a lot faster than any of us could have anticipated. So, we have to put those changing needs first. I believe that we're seeing that kind of next generation of decision makers, and we need to understand how and where they want to transact where they want to do business. I'm quite passionate about creating this human centred business, with the digital toolkit so that we can be more efficient, we can automate our processes and really add value to all of our day jobs. So that, you know, we're giving that advice and the human touch where it's most important.”

Natalie notes that TCi Futures aims to be a ‘human-centred business’, armed with a ‘digital toolkit’ to remain atop of incumbent technology trends within the industry. She calls for a similar strategy for brokers, who need to acquire a suitable knowledge and understanding of technology to keep ahead in the market, and to maintain efficiency in their processes in order to deliver the best solutions they can for clients. Even as the industry increasingly incorporates, and becomes increasingly reliant upon technology, Natalie maintains that the customer must always come first in all decision-making, and that technology must be used in order to facilitate the human interactions that remain quintessential to insurance.

Key Takeaways

Natalie highlights that the insurance industry remains traditionalist in many respects, with many legacy systems to deal with. Thus, the opportunities of Insurtech, using new software and technologies to streamline the services we offer as an industry are bountiful and hugely exciting, and do not mean that the prioritisation of customer needs and human interaction need be lost. Technology needs to first and foremost be used to make the deliverance of this service more efficient and user-friendly for customers.

However, it does require brokers to use some different skills, and to acquire new knowledge. Natalie notes that in an Insurtech business, you become not just insurance professionals, but also technology experts. TCi Futures have taken on their first full stack developer, signalling the opportunities for increased collaboration between insurance and technology businesses, enabling a change in mindset about how insurance does and ought to work.

TCi are becoming quite independent from Thomas Carroll Group, and believe that they have a role to play in educating and supporting other brokers through the changes that new technologies will bring in the years to come. Broking is due to transform, and Insurtech platforms and solutions will be at the forefront of that transition.

While most brokers are used to having traditional conversations around business risk, TCi Futures want to broaden this, to explore more generally what’s troubling brokers within their businesses and how, through the use of technology, smart platforms and software, TCi can help. If you’re facing challenges and pain points that could be curbed with technology, get in touch with Natalie today – her contact details are below!

Best Moments/Key Quotes

“What we've realised now is that through technology, and also having the right people around us, that actually anything is possible. So, we can kind of go ahead with that blank piece of paper and put those plans into practice.”

“What I've learned, and kind of the biggest challenge really is that we can come now collide some very different skills. So as an example, we've taken on our very first full stack developer. It allows us to become not just insurance people, but we can now become quite technical in our conversation. So, I think bringing together these very different worlds is very exciting, whilst challenging. We have some mindsets to change.”

“It's about putting our people first. We really have to be listening to our clients, our colleagues, business friends. So, let's remember that whilst the technology is excellent, it's not going to work unless we have the right people around us.”

Resources

TCi Futures - https://www.tcifutures.co.uk/

Thomas Carroll Group - https://www.thomascarroll.co.uk/

About the Guest

Natalie Sankala is the Operations Director of TCi Futures. She has worked with Thomas Carroll for just over nine years, in sales, marketing and development. Through TCi Futures, she aims to disrupt the industry in a progressive way, to broaden the scope of what is possible through technology, by putting time and resources into exploring ways of doing things differently.

Natalie’s LinkedIn Profile: https://www.linkedin.com/in/natalie-sankala-b8690676/

NATALIE’S EMAIL

About the Host

Sarah Myerscough is the Sales and Marketing Director of Boston Tullis Group. The founder of The Insurance Brokers Podcast, she brings a wealth of experience and a fresh perspective on communication in the insurance sector. Boston Tullis works with insurance professionals to build effective communication both internally and externally through podcasting, event reporting, videography, and internal communications facilitation.

Website: https://bostontullis.co.uk/

Evaluation Link: https://s.bostontullis.co.uk/s/podcastevaluation